Updated Residential Income
For Sale
$148,000
1945 4th Street, Sparks, NV 89431
Residential, Sparks, NV
Property Size940 SF
Price / SF$157.45
Days on Market191
Property Features for 1945 4th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
MF-4
Bedrooms
2
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1, Bathroom 1, Bedroom 2
Parking
1
Parking features
Garage
Window features
Double Pane Windows, Vinyl Frames
Interior features
Ceiling Fan(s)
Appliances
Dishwasher, Disposal, Electric Cooktop, Electric Oven, Electric Range, Refrigerator
Lot features
Common Area, Landscaped, Level, Sloped Down, Sprinklers In Front, Sprinklers In Rear
Elementary school
Greenbrae
Middle school
Dilworth
High school
Sparks
Directions
Greenbrae
Standard status
Active
APN
028-310-07
Size
940 SF
Taxes and HOA fees
HOA Fee
$600 Monthly
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Wall Furnace
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Building Details
Year built
1960
Floors in Building
1
Flooring type
Vinyl
Building materials
Asbestos, Brick
Roof type
Composition, Shingle
Listing Agency:
Hello Real Estate Center
(775) 622-6688
Listed By:
Tiffany Perkins · License #BS.0147102
(775) 343-9624
Added: Mar 31
Changed: Oct 2
Last Checked: Oct 7 at 2:06AM
MLS# 260003697
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, bottom-level home was built in 1960 and updated with a remodeled kitchen, refreshed bathroom with dual access, upgraded vinyl flooring, recessed lighting, and a newer electrical panel. The residence includes two bedrooms, one bathroom, a dishwasher, disposal, electric cooking appliances, refrigerator, ceiling fan, wall furnace, and window or wall/window unit cooling. A nearby detached garage provides parking and storage, while the property also has a shingle and composition roof.
The home is located at 1945 4th Street in Sparks, Nevada, within a 55+ cooperative community; residents age 50+ may be considered with board approval. The association fee includes property taxes, water, sewer, heater maintenance, and hot water heater service. The property is zoned MF-4, requires a cash purchase, and is subject to co-op association board approval. Public water and sewer serve the property, with natural gas available.
The home is located at 1945 4th Street in Sparks, Nevada, within a 55+ cooperative community; residents age 50+ may be considered with board approval. The association fee includes property taxes, water, sewer, heater maintenance, and hot water heater service. The property is zoned MF-4, requires a cash purchase, and is subject to co-op association board approval. Public water and sewer serve the property, with natural gas available.
Key Highlights
- 940‑square‑foot bottom‑level home with 2 bedrooms and 1 bathroom
- Updated kitchen, bathroom, flooring, recessed lighting, and newer electrical panel
- 55+ co‑op community; ages 50+ may be considered with board approval
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,460
Cap Rate
7.07%
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 7.07%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$332.7K
$291.1K – $388.2K
NOI $23,291 @ 7.0% cap · market cap 15.74%
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
578
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 - Remodeled ground-level home in a 55+ cooperative community with garage access and association-covered utilities and maintenance.
Where is this residential income property located?
The property is located at 1945 4th Street Sparks, NV.
What is the asking price?
The asking price for this property is $148,000.
What are key features of this property?
This property features: 940‑square‑foot bottom‑level home with 2 bedrooms and 1 bathroom; Updated kitchen, bathroom, flooring, recessed lighting, and newer electrical panel; 55+ co‑op community; ages 50+ may be considered with board approval
