Updated 55+ Co-Op Bottom
For Sale
$148,000
1945 4th Street, Sparks, NV 89431
MULTI_FAMILY - Sparks, NV
Property Size940 SF
Price / SF$157.45
Days on Market132
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
Bathroom 1, Bedroom 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 #S.187876
(775) 343-9624
Added: Mar 31
Changed: Jul 26
Last Checked: Aug 9 at 1:06PM
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 updated bottom-level co-op unit offers a thoughtfully remodeled interior with an updated kitchen, upgraded flooring, and a refreshed bathroom featuring dual access for added convenience. Recessed lighting and a newer electrical panel provide modern comfort. The home is part of a 55+ community where age 50+ may be considered with board approval, and the property includes a nearby detached garage for parking and storage.
The co-op is located in Sparks, Nevada. The monthly association fee includes property taxes, water, sewer, heater maintenance, and assistance with the hot water heater, creating a simplified, more predictable expense structure.
For purchase, cash is required, and buyers must be approved by the co-op association board. The property is listed for sale under zoning MF-4.
The co-op is located in Sparks, Nevada. The monthly association fee includes property taxes, water, sewer, heater maintenance, and assistance with the hot water heater, creating a simplified, more predictable expense structure.
For purchase, cash is required, and buyers must be approved by the co-op association board. The property is listed for sale under zoning MF-4.
Key Highlights
- Bottom‑level 55+ co‑op home with age 50+ considered with board approval
- Remodeled interior with updated kitchen, refreshed bathroom with dual access, and recessed lighting
- Wall furnace heating and wall/window A/C (window unit(s)) for cooling
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$10,460
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.07%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
Property Profile
Current Use
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Bottom-level 55+ co-op unit with remodeled kitchen, refreshed dual-access bath, recessed lighting, and newer electrical panel.
Where is this apartment building 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: Bottom‑level 55+ co‑op home with age 50+ considered with board approval; Remodeled interior with updated kitchen, refreshed bathroom with dual access, and recessed lighting; Wall furnace heating and wall/window A/C (window unit(s)) for cooling
