Duplex with Private
New
For Sale
$575,000
1196 Virbel Lane, Reno, NV 89502
Residential Income, Reno, NV
Property Size1,800 SF
Lot Size0.18 Acres
Price / SF$319.44
Days on Market2
Property Features for 1196 Virbel Lane
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Mf30
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bathroom 1
Parking
4
Window features
Vinyl Frames
Patio and Porch features
Patio
Interior features
Ceiling Fan(s)
Appliances
Dishwasher, Electric Oven, Electric Range, Microwave
Elementary school
Smithridge
Middle school
Pine
High school
Damonte
Standard status
Active
APN
020-313-26
Size
1,800 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Annual Amount
1130
Utilities
Sewer type
Public Sewer
Heating system
Wall Furnace
Water source
Public
Amenities
washer and dryer
private backyard
Building Details
Year built
1963
Floors in Building
1
Number of units
2
Flooring type
Laminate, Carpet
Building materials
Wood Siding
Roof type
Composition
Listing Agency:
RE/MAX Professionals-Reno · RE/MAX International
(775) 345-3070
Listed By:
Miranda Vaulet · License #S.63604
(775) 224-3979
Added: Sep 14
Changed: Sep 15
Last Checked: Sep 15 at 11:06PM
MLS# 260011879
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 duplex contains 1,800 square feet across two two-bedroom, one-bathroom residences. Each unit includes a washer and dryer, private backyard, patio, ceiling fan, kitchen appliances, and wall-furnace heating. The property has wood siding, a composition roof, public water, and public sewer.
Unit 1196 has received recent interior improvements, including luxury vinyl plank flooring, new carpet, updated lighting, fresh paint, and a remodeled bathroom with tile shower flooring, a new toilet, and a new vanity. A new water heater serves the property. Built in 1963 and situated on 0.18 acres at 1196 Virbel Lane in Reno, the duplex is zoned Mf30.
Unit 1196 has received recent interior improvements, including luxury vinyl plank flooring, new carpet, updated lighting, fresh paint, and a remodeled bathroom with tile shower flooring, a new toilet, and a new vanity. A new water heater serves the property. Built in 1963 and situated on 0.18 acres at 1196 Virbel Lane in Reno, the duplex is zoned Mf30.
Key Highlights
- Two‑bedroom, one‑bathroom layout in each of the two residences
- 1,800 square feet on a 0.18‑acre lot
- Private backyard and patio assigned to each unit
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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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
738
Businesses Nearby
Explore this area
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
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?
Duplex - Two residences provide in-unit laundry, patios, and separate outdoor areas.
Where is this duplex located?
The property is located at 1196 Virbel Lane 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‑bedroom, one‑bathroom layout in each of the two residences; 1,800 square feet on a 0.18‑acre lot; Private backyard and patio assigned to each unit
