Remodeled Duplex on Corner
For Sale
Contact for pricing
1104 Ralston Street, Reno, NV 89503
The property includes MF14 zoning, private on-site parking, and in-unit laundry.
Property Size3,510 SF
Lot Size0.28 Acres
Price / SF$377.49
Days on Market8
Property Features for 1104 Ralston Street
General Information
Standard status
Active
Size
3,510 SF
Total Parking Spaces
8
Lot size
0.28 Acres
Property subtype
Multifamily
Zoning
MF14
Net Operating Income
$66,026
Amenities
on-site parking
in-unit laundry
walk around porch
Building Details
Year Built
1910
Year Renovated
2023
Buildings
1
Stories
2
Units
2
Listing Agency:
CBRE Reno
(775) 356-6118
Listed By:
Ben Galles · License #47543
Source:
Crexi
Added: Aug 4
Changed: Aug 10
Last Checked: Aug 10 at 3:47AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CBRE Reno
Investment Insights
Based on property information with market context.
This 3,510-square-foot duplex, built in 1910, contains 9 bedrooms and 5.5 bathrooms on a 0.275-acre parcel. The existing improvements have undergone extensive renovation, including updated electrical and plumbing systems, a newer roof, newer tankless water heaters, multiple mini splits, and recent exterior paint. Interior finishes include LVP and wood-look tile flooring, wood beams, upgraded wall texture, tiled bathroom showers, wood-look cabinetry, quartz counters, and stainless steel appliances. In-unit laundry and a wraparound porch add functional amenities for occupants.
The property is positioned on a private corner lot within the University rental submarket and has room on the site for additional units. MF14 zoning is in place, and the University of Nevada Reno is a short distance away. On-site parking serves the existing duplex.
The property is positioned on a private corner lot within the University rental submarket and has room on the site for additional units. MF14 zoning is in place, and the University of Nevada Reno is a short distance away. On-site parking serves the existing duplex.
Key Highlights
- 3,510 SF duplex with 9 bedrooms and 5.5 bathrooms
- 0.275‑acre private corner lot with room for additional units
- MF14 zoning within the University rental submarket
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
$52,216
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
3.94%
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%
$1,044,320
$1.0M
Cap Rate 7%
$745,943
$745.9K
Cap Rate 9%
$580,178
$580.2K
Market Conditions
NOI Build-Up for 3,510 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
$77.9K $22.20/SF
− Vacancy
−$3.3K −$0.95/SF
EGI
$74.6K $21.25/SF
− OpEx
−$22.4K −$6.38/SF
NOI
$52.2K $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%
$1,044,320
Cap Rate 7%
$745,943
Cap Rate 9%
$580,178
Alternative Uses
Best Use
Multifamily LT 5
$745.9K
$652.7K – $870.3K
NOI $52,216 @ 7.0% cap · market cap 3.94%
Second Best
Apartment 5plus
$647.9K
$566.9K – $755.9K
NOI $45,353 @ 7.0% cap · market cap 3.42%
Theoretical Best
Office A
$1.08M
$946.5K – $1.26M
NOI $75,722 @ 7.0% cap · market cap 5.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,437
Businesses Nearby
Explore this area
Business Placement
Demographics for 89503, NV
28,737
Population
13,938
Households
2.1
Avg Household Size
33
Median Age
36%
College-Educated
91%
High-School Grad
6.2 sq mi
ZIP Area
4,635
Density / Sq Mi
$66,956
Median Household Income
$37,352
Median Earnings
$1,336
Median Rent
$441,800
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 - The property includes MF14 zoning, private on-site parking, and in-unit laundry.
Where is this duplex located?
The property is located at 1104 Ralston Street Reno, NV.
What is the asking price?
The asking price for this property is $1,325,000.
What are key features of this property?
This property features: 3,510 SF duplex with 9 bedrooms and 5.5 bathrooms; 0.275‑acre private corner lot with room for additional units; MF14 zoning within the University rental submarket
