Two-Unit Duplex with
For Sale
$615,000
1313 Powell Ln, Reno, NV 89502
Fully leased residential income property with private outdoor space and convenient access to shopping, dining, schools, and commuter routes.
Property Size2,444 SF
Price / SF$251.64
Days on Market29
Property Features for 1313 Powell Ln
General Information
Standard status
Active
Size
2,444 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Amenities
fenced backyard
Building Details
Year Built
2004
Listing Agency:
Redfin
(775) 240-3060
Listed By:
Deni Wilson RE Team
(775) 240-3060
Source:
Renotahoenvlistings
Added: Aug 2
Changed: Aug 30
Last Checked: Aug 30 at 4:02PM
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 Redfin
Investment Insights
Based on property information with market context.
Built in 2004, this duplex contains 2,444 square feet across two residential units. Each side provides 2 bedrooms, 2 full bathrooms, a one-car garage, and a fenced backyard, creating a consistent layout for both occupants.
The property is fully rented and positioned in Reno with access to nearby shopping, dining, schools, and major commuter routes. Its two-unit configuration supports continued residential income use, while the separate garages and fenced outdoor areas add practical features for residents.
The property is fully rented and positioned in Reno with access to nearby shopping, dining, schools, and major commuter routes. Its two-unit configuration supports continued residential income use, while the separate garages and fenced outdoor areas add practical features for residents.
Key Highlights
- 2,444‑square‑foot duplex built in 2004
- Two units, each with 2 bedrooms and 2 full bathrooms
- One‑car garage provided for each side
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
$36,358
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
5.91%
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%
$727,160
$727.2K
Cap Rate 7%
$519,400
$519.4K
Cap Rate 9%
$403,978
$404.0K
Market Conditions
NOI Build-Up for 2,444 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
$54.3K $22.20/SF
− Vacancy
−$2.3K −$0.95/SF
EGI
$51.9K $21.25/SF
− OpEx
−$15.6K −$6.38/SF
NOI
$36.4K $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%
$727,160
Cap Rate 7%
$519,400
Cap Rate 9%
$403,978
Alternative Uses
Best Use
Multifamily LT 5
$519.4K
$454.5K – $606.0K
NOI $36,358 @ 7.0% cap · market cap 5.91%
Second Best
Apartment 5plus
$451.1K
$394.7K – $526.3K
NOI $31,579 @ 7.0% cap · market cap 5.13%
Theoretical Best
Office A
$753.2K
$659.1K – $878.8K
NOI $52,725 @ 7.0% cap · market cap 8.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
548
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
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 - Fully leased residential income property with private outdoor space and convenient access to shopping, dining, schools, and commuter routes.
Where is this duplex located?
The property is located at 1313 Powell Ln Reno, NV.
What is the asking price?
The asking price for this property is $615,000.
What are key features of this property?
This property features: 2,444‑square‑foot duplex built in 2004; Two units, each with 2 bedrooms and 2 full bathrooms; One‑car garage provided for each side
