Four-Unit Multifamily
For Sale
$1,431,000
343 & 347 Mount Rose St., Reno, NV 89509
Residential Income, Reno, NV
Property Size3,894 SF
Lot Size0.16 Acres
Price / SF$367.49
Days on Market369
Property Features for 343 & 347 Mount Rose St.
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
MU-RES
Bedrooms
5
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 3, Bedroom 4, Bedroom 2, Bathroom 3, Bedroom 5, Bathroom 1, Bathroom 6, Bedroom 1, Bathroom 4, Bathroom 2, Bathroom 5
Parking
6
Parking features
Open, Assigned, Alley, Garage
Window features
Double Pane Windows, Skylight(s), Wood Frames, Blinds, Vinyl Frames
Patio and Porch features
Deck, Patio
Interior features
Ceiling Fan(s), No Interior Steps, Vaulted Ceiling(s)
Exterior features
Awning(s), Balcony, Rain Gutters
Fireplace
1
Appliances
Dishwasher, Disposal, Dryer, Electric Oven, Microwave, Refrigerator, Self Cleaning Oven, Washer
Subdivision
Sierra Vista Tract
Lot features
Gentle Sloping
Elementary school
Mt. Rose
High school
Reno
Standard status
Active
APN
014-213-27
Size
3,894 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
6398
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Fireplace(s), Varies by Unit (Heating), Forced Air
Water source
Public
Building Details
Year built
1945
Floors in Building
1
Number of units
4
Flooring type
Laminate, Varies, Wood
Building materials
Asbestos, Stucco
Roof type
Shingle, Composition
Listing Agency:
Keller Williams Group One Inc. · Keller Williams Realty
(775) 823-8787
Listed By:
Dyan Chapman · License #S.190044
(775) 813-8270
Added: Sep 12, 2025
Changed: Sep 12
Last Checked: Sep 15 at 2:06AM
MLS# 250055872
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 MU-RES multifamily property combines two adjoining addresses into a four-unit configuration. The 1945 front residence includes a single-level main home and an additional unit, while the rear structure, completed in 2017, contains two three-story units. Each rear unit offers one bedroom plus a den or office, two bathrooms, an attached one-car garage, two storage spaces, two private balconies, and fenced patio space. Vaulted ceilings, varied flooring, forced-air heating, fireplaces, and a 2024 roof on the front house add to the physical profile. The property encompasses 3894 square feet on 0.16 acres and includes public water and public sewer service.
Located on Mount Rose Street in Reno’s MidTown District, the property is positioned within an area identified for arts, culture, theater, dining, and walkability. Alley access serves the rear duplex, with additional assigned and open parking available. Balconies, patios, rain gutters, laundry appliances, kitchen appliances, and public utility connections are included among the property features.
Located on Mount Rose Street in Reno’s MidTown District, the property is positioned within an area identified for arts, culture, theater, dining, and walkability. Alley access serves the rear duplex, with additional assigned and open parking available. Balconies, patios, rain gutters, laundry appliances, kitchen appliances, and public utility connections are included among the property features.
Key Highlights
- Four‑unit configuration across 343 & 347 Mount Rose St.
- 3894 square feet on a 0.16‑acre lot with MU‑RES zoning
- Rear duplex built in 2017 with two three‑story units
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
$57,929
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
4.05%
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%
$1,158,580
$1.2M
Cap Rate 7%
$827,557
$827.6K
Cap Rate 9%
$643,656
$643.7K
Market Conditions
NOI Build-Up for 3,894 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
$86.4K $22.20/SF
− Vacancy
−$3.7K −$0.95/SF
EGI
$82.8K $21.25/SF
− OpEx
−$24.8K −$6.38/SF
NOI
$57.9K $14.88/SF
Area
Reno, NV
Vacancy
4.27%
Lease Rate
$22.20 /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%
$1,158,580
Cap Rate 7%
$827,557
Cap Rate 9%
$643,656
Alternative Uses
Best Use
Multifamily LT 5
$827.6K
$724.1K – $965.5K
NOI $57,929 @ 7.0% cap · market cap 4.05%
Second Best
Apartment 5plus
$718.8K
$628.9K – $838.6K
NOI $50,315 @ 7.0% cap · market cap 3.52%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $84,006 @ 7.0% cap · market cap 5.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,096
Businesses Nearby
Explore this area
Business Placement
Demographics for 89509, NV
34,817
Population
18,290
Households
1.9
Avg Household Size
44
Median Age
50%
College-Educated
95%
High-School Grad
8.8 sq mi
ZIP Area
3,956
Density / Sq Mi
$81,751
Median Household Income
$47,546
Median Earnings
$1,443
Median Rent
$670,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units include a single-level home and a modern three-story duplex with garages, balconies, patios, and storage.
Where is this quadplex located?
The property is located at 343 & 347 Mount Rose St. Reno, NV.
What is the asking price?
The asking price for this property is $1,431,000.
What are key features of this property?
This property features: Four‑unit configuration across 343 & 347 Mount Rose St.; 3894 square feet on a 0.16‑acre lot with MU‑RES zoning; Rear duplex built in 2017 with two three‑story units
