Renovated Duplex with Private
1196 Virbel Ln, Reno, NV 89502
For Sale
$575,000
Two residences offer in-unit laundry, separate outdoor space, and a recently updated interior in one unit.
Property Size1,800 SF
Price / SF$319.44
Days on Market60
Property Features for 1196 Virbel Ln
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Amenities
in-unit laundry
private backyard
Building Details
Year Built
Buildings
Listing Agency:
Serhant
Listed By:
LPT Realty
(775) 737-2022
Source:
Nevadarealestatehub
Added: Sep 16
Changed: Nov 12
Last Checked: Nov 12 at 7:45AM
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 Serhant
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Investment Insights
Based on property information with market context.
This duplex contains two 2-bedroom, 1-bathroom residences within 1,800 square feet. Each unit has its own washer and dryer along with a private backyard. The property was built in 1963 and includes a new water heater.
Unit 1196 has received extensive interior updates, including luxury vinyl plank flooring, new carpet, fresh paint, upgraded light fixtures, and a remodeled bathroom with tile flooring, a tile shower, new toilet, and new vanity. Located at 1196 Virbel Ln in Reno, the property provides two separately configured residences with private outdoor areas and dedicated laundry.
Unit 1196 has received extensive interior updates, including luxury vinyl plank flooring, new carpet, fresh paint, upgraded light fixtures, and a remodeled bathroom with tile flooring, a tile shower, new toilet, and new vanity. Located at 1196 Virbel Ln in Reno, the property provides two separately configured residences with private outdoor areas and dedicated laundry.
Key Highlights
- Two 2‑bedroom, 1‑bathroom units
- 1,800 square feet on a 0.00‑acre lot
- Private backyard for each residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,778
Cap Rate
4.66%
Suggested Prices Based on Cap Rates
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
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 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.
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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
$389,200
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Reno, NV
Properties on Market for Duplexes in Reno
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Two residences offer in-unit laundry, separate outdoor space, and a recently updated interior in one unit.
Where is this duplex located?
The property is located at 1196 Virbel Ln 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 on a 0.00‑acre lot; Private backyard for each residence
