Inviting Corner Unit in
For Sale
$118,000
1945 4th Street, Sparks, NV 89431
MULTI_FAMILY - Sparks, NV
Property Size945 SF
Price / SF$124.87
Days on Market100
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 2, Bedroom 1, Bathroom 1
Parking
1
Parking features
Garage, Open
Window features
Double Pane Windows, Drapes, Blinds
Patio and Porch features
Patio
Interior features
Ceiling Fan(s), Primary Downstairs
Appliances
Disposal, Electric Cooktop, Oven
Lot features
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
028-310-07
Size
945 SF
Taxes and HOA fees
HOA Fee
$600 Monthly
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Natural Gas, Wall Furnace
Cooling system
Window Unit(s), Electric, Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1960
Floors in Building
1
Flooring type
Carpet
Building materials
Asbestos
Roof type
Shingle, Composition
Listing Agency:
Hello Real Estate Center
(775) 622-6688
Listed By:
Tiffany Perkins · License #S.187876
(775) 343-9624
Added: May 2
Changed: Jul 15
Last Checked: Aug 9 at 1:06PM
MLS# 260005539
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.
Located in a welcoming 55+ co-op community, this bottom corner unit offers a simpler, more relaxed lifestyle. The property is surrounded by mature trees and beautifully maintained landscaping, creating a peaceful, park-like atmosphere. The home includes 3 wall-mounted Roku TVs on swivel stands for flexible viewing, and a reverse osmosis drinking water filter system paired with on-demand hot water. The kitchen offers versatility with the option for induction or electric cooking. The unit's location provides easy access to the alley and a nearby garage, featuring a newer garage door opener with battery backup. The property size is 945 square feet. The zoning is MF-4. The community is owner-occupied. Cash purchase only. Buyer must be approved by the co-op association board.
Key Highlights
- Bottom corner unit in a 55+ co‑op community in an owner‑occupied setting
- Cash purchase only; buyer must be approved by the co‑op association board (buyer/agent to verify information)
- 3 wall‑mounted Roku TVs on swivel stands and a reverse osmosis drinking water filter system
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
$10,516
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
8.91%
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%
$210,320
$210.3K
Cap Rate 7%
$150,229
$150.2K
Cap Rate 9%
$116,844
$116.8K
Market Conditions
NOI Build-Up for 945 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
$20.0K $21.12/SF
− Vacancy
−$838 −$0.89/SF
EGI
$19.1K $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%
$210,320
Cap Rate 7%
$150,229
Cap Rate 9%
$116,844
Alternative Uses
Best Use
Apartment 5plus
$150.2K
$131.5K – $175.3K
NOI $10,516 @ 7.0% cap · market cap 8.91%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$334.5K
$292.7K – $390.3K
NOI $23,415 @ 7.0% cap · market cap 19.84%
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Relaxed 55+ community living with modern conveniences.
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 $118,000.
What are key features of this property?
This property features: Bottom corner unit in a 55+ co‑op community in an owner‑occupied setting; Cash purchase only; buyer must be approved by the co‑op association board (buyer/agent to verify information); 3 wall‑mounted Roku TVs on swivel stands and a reverse osmosis drinking water filter system
