Furnished Duplex with
For Sale
$687,000
Pending
442 E 7th Street, Reno, NV 89512
Residential Income, Reno, NV
Property Size1,474 SF
Lot Size0.03 Acres
Days on Market349
Property Features for 442 E 7th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
MD-ID
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bedroom 1, Bedroom 2, Bathroom 3, Bedroom 3, Bedroom 4, Bathroom 4, Bathroom 2
Parking
2
Parking features
Assigned, Open, Alley, Carport
Security features
Security System
Window features
Vinyl Frames, Low Emissivity Windows, Double Pane Windows
Patio and Porch features
Patio
Interior features
Loft, Smart Thermostat
Exterior features
Balcony
Appliances
Dishwasher, Disposal, Dryer, Electric Oven, Microwave, Refrigerator, Smart Appliance(s), Washer
Subdivision
Evans Northeast Addition
Lot features
Level
Elementary school
Booth
Middle school
Vaughn
High school
Wooster
Directions
Access through the alley behind the property or the gate off of E 7th St.
Standard status
Pending
APN
007-233-06
Size
1,474 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
3573
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
private balconies
solar panels
private carport parking
Building Details
Year built
2020
Floors in Building
2
Number of units
2
Flooring type
Carpet, Laminate
Building materials
Frame, Wood Siding
Roof type
Composition, Asphalt
Listing Agency:
LPT Realty, LLC
(775) 544-1328
Listed By:
Sage Ball · License #BS.147100
(775) 790-0249
Added: Sep 11, 2025
Changed: Aug 20
Last Checked: Aug 25 at 1:06AM
MLS# 250055789
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.
Built in 2020, this duplex contains 1,474 square feet across two residential units. Both units are mostly furnished and currently leased, with tenants indicating an intention to remain. Private balconies, solar panels, and carport parking with garage door openers add functional features for occupants. Interior finishes and systems include laminate and carpet flooring, central air, forced-air natural gas heat, smart thermostats, and a selection of major appliances.
The property is located at 442 E 7th Street in Reno, within minutes of the University of Nevada, Reno, downtown amenities, shopping, dining, parks, and key commuter routes. The setting is described as walkable and bike-friendly. Public water and sewer serve the property, which is zoned MD-ID.
The property is located at 442 E 7th Street in Reno, within minutes of the University of Nevada, Reno, downtown amenities, shopping, dining, parks, and key commuter routes. The setting is described as walkable and bike-friendly. Public water and sewer serve the property, which is zoned MD-ID.
Key Highlights
- Duplex built in 2020 with 1,474 square feet
- Both units are mostly furnished and leased
- Tenants have expressed intent to stay
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
$21,928
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
3.19%
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%
$438,560
$438.6K
Cap Rate 7%
$313,257
$313.3K
Cap Rate 9%
$243,644
$243.6K
Market Conditions
NOI Build-Up for 1,474 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
$32.7K $22.20/SF
− Vacancy
−$1.4K −$0.95/SF
EGI
$31.3K $21.25/SF
− OpEx
−$9.4K −$6.38/SF
NOI
$21.9K $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%
$438,560
Cap Rate 7%
$313,257
Cap Rate 9%
$243,644
Alternative Uses
Best Use
Multifamily LT 5
$313.3K
$274.1K – $365.5K
NOI $21,928 @ 7.0% cap · market cap 3.19%
Second Best
Apartment 5plus
$272.1K
$238.1K – $317.4K
NOI $19,046 @ 7.0% cap · market cap 2.77%
Theoretical Best
Office A
$454.3K
$397.5K – $530.0K
NOI $31,799 @ 7.0% cap · market cap 4.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,613
Businesses Nearby
Explore this area
Business Placement
Demographics for 89512, NV
30,148
Population
12,374
Households
2.4
Avg Household Size
30
Median Age
18%
College-Educated
76%
High-School Grad
6.2 sq mi
ZIP Area
4,863
Density / Sq Mi
$45,284
Median Household Income
$34,587
Median Earnings
$1,113
Median Rent
$318,400
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?
Duplex - Leased two-unit property with solar panels and private carport parking.
Where is this duplex located?
The property is located at 442 E 7th Street Reno, NV.
What is the asking price?
The asking price for this property is $687,000.
What are key features of this property?
This property features: Duplex built in 2020 with 1,474 square feet; Both units are mostly furnished and leased; Tenants have expressed intent to stay
