Renovated Duplex with Private
For Sale
$575,000
1196 Virbel, Reno, NV 89502
Two residences include in-unit laundry and individual outdoor space.
Property Size1,800 SF
Price / SF$319.44
Days on Market25
Property Features for 1196 Virbel
General Information
Standard status
Active
Size
1,800 SF
Property subtype
Multi-family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
washer/dryer
private backyard
Building Details
Year Built
1963
Listing Agency:
RE/MAX Professionals-Reno
Listed By:
Miranda Vaulet
(775) 688-4000
Source:
Ferrari-lund
Added: Sep 3
Changed: Sep 26
Last Checked: Sep 26 at 9:12AM
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 RE/MAX Professionals-Reno
Investment Insights
Based on property information with market context.
This duplex at 1196 Virbel in Reno contains two 2-bedroom, 1-bathroom residences totaling 1,800 square feet. Both units have private washers and dryers, spacious layouts, and separate backyards. Built in 1963, the property also includes a new water heater.
Unit 1196 has received a substantial interior update with luxury vinyl plank flooring, new carpet, fresh paint, upgraded light fixtures, and a remodeled bathroom. The bathroom improvements include a tiled shower, tile flooring, a new toilet, and a new vanity. The combination of two residential units, dedicated laundry, private outdoor areas, and recent improvements creates a clearly defined duplex configuration for an income-property buyer or owner occupant.
Unit 1196 has received a substantial interior update with luxury vinyl plank flooring, new carpet, fresh paint, upgraded light fixtures, and a remodeled bathroom. The bathroom improvements include a tiled shower, tile flooring, a new toilet, and a new vanity. The combination of two residential units, dedicated laundry, private outdoor areas, and recent improvements creates a clearly defined duplex configuration for an income-property buyer or owner occupant.
Key Highlights
- Two 2‑bedroom, 1‑bathroom units
- 1,800 square feet across the duplex
- Private washer and dryer in each residence
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
$26,778
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
4.66%
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%
$535,560
$535.6K
Cap Rate 7%
$382,543
$382.5K
Cap Rate 9%
$297,533
$297.5K
Market Conditions
NOI Build-Up for 1,800 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
$40.0K $22.20/SF
− Vacancy
−$1.7K −$0.95/SF
EGI
$38.3K $21.25/SF
− OpEx
−$11.5K −$6.38/SF
NOI
$26.8K $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%
$535,560
Cap Rate 7%
$382,543
Cap Rate 9%
$297,533
Alternative Uses
Best Use
Multifamily LT 5
$382.5K
$334.7K – $446.3K
NOI $26,778 @ 7.0% cap · market cap 4.66%
Second Best
Apartment 5plus
$332.3K
$290.7K – $387.6K
NOI $23,258 @ 7.0% cap · market cap 4.04%
Theoretical Best
Office A
$554.7K
$485.4K – $647.2K
NOI $38,832 @ 7.0% cap · market cap 6.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
738
Businesses Nearby
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Business Placement
Demographics for 89502, NV
47,062
Population
20,781
Households
2.3
Avg Household Size
36
Median Age
19%
College-Educated
80%
High-School Grad
21.5 sq mi
ZIP Area
2,189
Density / Sq Mi
$62,719
Median Household Income
$36,796
Median Earnings
$1,243
Median Rent
$389,200
Median Home Value
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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?
Duplex - Two residences include in-unit laundry and individual outdoor space.
Where is this duplex located?
The property is located at 1196 Virbel Reno, NV.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bathroom units; 1,800 square feet across the duplex; Private washer and dryer in each residence
