Four-Unit Quadplex with
For Sale
$1,050,000
312 16th Street, Sparks, NV 89431
Residential Income, Sparks, NV
Property Size3,768 SF
Lot Size0.17 Acres
Price / SF$278.66
Days on Market15
Property Features for 312 16th Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
mud
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 4, Bedroom 5, Bedroom 7, Bathroom 3, Bedroom 8, Bedroom 6, Bedroom 2, Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 3
Parking
8
Parking features
Alley
Window features
Double Pane Windows, Vinyl Frames
Appliances
Dishwasher
Subdivision
Newtown Tract
Lot features
Corner Lot
Elementary school
Mitchell
Middle school
Sparks
High school
Sparks
Standard status
Active
APN
032-076-16
Size
3,768 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Annual Amount
3199
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Varies by Unit
Water source
Public
Amenities
storage spaces
Building Details
Year built
1935
Floors in Building
2
Number of units
4
Flooring type
Laminate, Carpet
Building materials
Frame, Wood Siding
Roof type
Shingle, Composition
Additional Structures
Storage
Listing Agency:
New Dimensions, Inc.
(775) 322-1093
Listed By:
Daniel Puz · License #S.174064
(775) 771-1047
Added: Aug 10
Changed: Aug 20
Last Checked: Aug 24 at 6:06PM
MLS# 260010306
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 four-unit property combines three townhome-style apartments with a detached residence on a 0.17-acre parcel. Each apartment offers two bedrooms and 1.5 bathrooms. The separate home includes two bedrooms, one bathroom, a sizable basement, and a fully enclosed backyard. The property contains 3,768 square feet and was built in 1935, with frame construction, wood siding, laminate and carpet flooring, forced-air heating, and unit-specific cooling. Small storage areas are also available.
Parking is arranged with a front lot serving the three-apartment building, while the house has its own lot and alley access. The property is near Historic Victorian Avenue in Sparks, with nearby entertainment and events, a fire department two blocks away, and convenient freeway access. Public water and public sewer serve the property, and zoning is listed as mud.
Parking is arranged with a front lot serving the three-apartment building, while the house has its own lot and alley access. The property is near Historic Victorian Avenue in Sparks, with nearby entertainment and events, a fire department two blocks away, and convenient freeway access. Public water and public sewer serve the property, and zoning is listed as mud.
Key Highlights
- Four rentable units: three apartments plus a separate home
- Three apartments with 2 bedrooms and 1.5 bathrooms each
- Separate home includes 2 bedrooms, 1 bathroom, basement, and fenced backyard
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
$46,852
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
4.46%
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%
$937,040
$937.0K
Cap Rate 7%
$669,314
$669.3K
Cap Rate 9%
$520,578
$520.6K
Market Conditions
NOI Build-Up for 3,768 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
$70.1K $18.60/SF
− Vacancy
−$3.2K −$0.84/SF
EGI
$66.9K $17.76/SF
− OpEx
−$20.1K −$5.33/SF
NOI
$46.9K $12.43/SF
Area
Sparks, NV
Vacancy
4.50%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
30.00%
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%
$937,040
Cap Rate 7%
$669,314
Cap Rate 9%
$520,578
Alternative Uses
Best Use
Multifamily LT 5
$669.3K
$585.7K – $780.9K
NOI $46,852 @ 7.0% cap · market cap 4.46%
Second Best
Apartment 5plus
$599.0K
$524.1K – $698.9K
NOI $41,931 @ 7.0% cap · market cap 3.99%
Theoretical Best
Specialty Retail
$1.33M
$1.17M – $1.56M
NOI $93,363 @ 7.0% cap · market cap 8.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,149
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Mixed configuration includes three townhome-style apartments and a separate house.
Where is this quadplex located?
The property is located at 312 16th Street Sparks, NV.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Four rentable units: three apartments plus a separate home; Three apartments with 2 bedrooms and 1.5 bathrooms each; Separate home includes 2 bedrooms, 1 bathroom, basement, and fenced backyard
