Top-Floor Residential Income
For Sale
$133,000
1940 4th Street, Sparks, NV 89431
Residential, Sparks, NV
Property Size940 SF
Price / SF$141.49
Days on Market244
Property Features for 1940 4th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
MF-4
Bedrooms
2
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 2, Bathroom 1, Bedroom 1
Parking
1
Parking features
Garage
Window features
Vinyl Frames, Double Pane Windows
Interior features
Ceiling Fan(s), Primary Downstairs
Exterior features
Rain Gutters
Appliances
Dishwasher, Disposal, Electric Cooktop, Refrigerator
Lot features
Common Area, Landscaped, Level, Sprinklers In Front, Sprinklers In Rear
Elementary school
Greenbrae
Middle school
Dilworth
High school
Sparks
Directions
Greenbrae to 4th
Standard status
Active
APN
028-321-01
Size
940 SF
Taxes and HOA fees
HOA Fee
$450 Monthly
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Wall Furnace
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Amenities
laundry facility
Building Details
Year built
1960
Floors in Building
2
Flooring type
Carpet
Building materials
Asbestos
Roof type
Composition, Shingle
Listing Agency:
Hello Real Estate Center
(775) 622-6688
Listed By:
Tiffany Perkins · License #BS.0147102
(775) 343-9624
Added: Feb 5
Changed: Oct 2
Last Checked: Oct 7 at 4:06AM
MLS# 260001319
Copyright © 2026 Northern Nevada Regional MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 940-square-foot, top-floor end unit is part of a shared-ownership co-op community designed for residents age 55 and older, with age 50+ potentially qualifying. The residence includes two bedrooms, one bathroom, plantation shutters in the living and dining areas, closet organizers, an additional bedroom closet, and brand-new carpet. A portable window A/C unit, wall furnace, dishwasher, disposal, electric cooktop, and refrigerator are included. The detached garage provides covered parking.
The property is located in Sparks within a neighborhood primarily surrounded by single-family homes. Mature trees and maintained grounds create a park-like setting, while a bus stop is positioned directly in front of the community. Public water and sewer service are provided, and the building dates to 1960.
The co-op fee covers property taxes, water, sewer, trash, exterior and grounds maintenance, insured structure, furnace and water heater maintenance, laundry facilities, and snow removal. The community is owner-occupied, does not permit pets or rentals, requires buyer approval through credit and background review, and accepts cash purchases only.
The property is located in Sparks within a neighborhood primarily surrounded by single-family homes. Mature trees and maintained grounds create a park-like setting, while a bus stop is positioned directly in front of the community. Public water and sewer service are provided, and the building dates to 1960.
The co-op fee covers property taxes, water, sewer, trash, exterior and grounds maintenance, insured structure, furnace and water heater maintenance, laundry facilities, and snow removal. The community is owner-occupied, does not permit pets or rentals, requires buyer approval through credit and background review, and accepts cash purchases only.
Key Highlights
- 940‑square‑foot top‑floor end unit in a shared‑ownership co‑op
- Two bedrooms and one bathroom with brand‑new carpet
- Detached garage included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,460
Cap Rate
7.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$209,200
$209.2K
Cap Rate 7%
$149,429
$149.4K
Cap Rate 9%
$116,222
$116.2K
Market Conditions
NOI Build-Up for 940 SF
Gross rent
$19.9K $21.12/SF
− Vacancy
−$834 −$0.89/SF
EGI
$19.0K $20.23/SF
− OpEx
−$8.6K −$9.10/SF
NOI
$10.5K $11.13/SF
Area
Sparks, NV
Vacancy
4.20%
Lease Rate
$21.12 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$209,200
Cap Rate 7%
$149,429
Cap Rate 9%
$116,222
Alternative Uses
Best Use
Apartment 5plus
$149.4K
$130.8K – $174.3K
NOI $10,460 @ 7.0% cap · market cap 7.86%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$332.7K
$291.1K – $388.2K
NOI $23,291 @ 7.0% cap · market cap 17.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
588
Businesses Nearby
Explore this area
Business Placement
Demographics for 89431, NV
40,219
Population
16,858
Households
2.4
Avg Household Size
35
Median Age
14%
College-Educated
76%
High-School Grad
9.2 sq mi
ZIP Area
4,372
Density / Sq Mi
$64,496
Median Household Income
$39,589
Median Earnings
$1,276
Median Rent
$332,000
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom co-op residence with a detached garage, updated carpet, and access to a maintained 55+ community.
Where is this residential income property located?
The property is located at 1940 4th Street Sparks, NV.
What is the asking price?
The asking price for this property is $133,000.
What are key features of this property?
This property features: 940‑square‑foot top‑floor end unit in a shared‑ownership co‑op; Two bedrooms and one bathroom with brand‑new carpet; Detached garage included
