Renovated Duplex with Two
New
For Sale
$575,000
1836 C St, Sparks, NV 89431
Two leased residences share a landscaped lot with updated interiors and separate modern amenities.
Property Size1,344 SF
Price / SF$427.83
Days on Market6
Property Features for 1836 C St
General Information
Standard status
Active
Size
1,344 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
2
Building Details
Year Built
1940
Year Renovated
2023
Buildings
2
Tenancy
Multi
Listing Agency:
Ferrari-Lund R.E. Sparks
Listed By:
Deni Wilson RE Team
(775) 240-3060
Source:
Renotahoenvlistings
Added: Sep 22
Changed: Sep 26
Last Checked: Sep 26 at 6:35AM
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 Ferrari-Lund R.E. Sparks
Investment Insights
Based on property information with market context.
This duplex comprises two homes on one lot, with a combined property size of 1,344 square feet. Both residences underwent renovation in 2023 and feature engineered hardwood flooring, quartz countertops, stainless steel appliances, and forced-air heating and air conditioning. Each home is currently leased.
The property also includes newer roofing, windows, landscaped yards, and new fencing. Originally built in 1940, the duplex combines its established construction date with substantial recent improvements across both residences.
The property also includes newer roofing, windows, landscaped yards, and new fencing. Originally built in 1940, the duplex combines its established construction date with substantial recent improvements across both residences.
Key Highlights
- Two homes on one lot
- 1,344‑square‑foot property
- Both residences renovated in 2023
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
$16,711
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
2.91%
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%
$334,220
$334.2K
Cap Rate 7%
$238,729
$238.7K
Cap Rate 9%
$185,678
$185.7K
Market Conditions
NOI Build-Up for 1,344 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
$25.0K $18.60/SF
− Vacancy
−$1.1K −$0.84/SF
EGI
$23.9K $17.76/SF
− OpEx
−$7.2K −$5.33/SF
NOI
$16.7K $12.43/SF
Area
Sparks, NV
Vacancy
4.50%
Lease Rate
$18.60 /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%
$334,220
Cap Rate 7%
$238,729
Cap Rate 9%
$185,678
Alternative Uses
Best Use
Multifamily LT 5
$238.7K
$208.9K – $278.5K
NOI $16,711 @ 7.0% cap · market cap 2.91%
Second Best
Apartment 5plus
$213.7K
$187.0K – $249.3K
NOI $14,956 @ 7.0% cap · market cap 2.60%
Theoretical Best
Specialty Retail
$475.7K
$416.3K – $555.0K
NOI $33,301 @ 7.0% cap · market cap 5.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
904
Businesses Nearby
Explore this area
Business Placement
Demographics for 89431, NV
40,219
Population
16,858
Households
2.4
Avg Household Size
35
Median Age
14%
College-Educated
76%
High-School Grad
9.2 sq mi
ZIP Area
4,372
Density / Sq Mi
$64,496
Median Household Income
$39,589
Median Earnings
$1,276
Median Rent
$332,000
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 leased residences share a landscaped lot with updated interiors and separate modern amenities.
Where is this duplex located?
The property is located at 1836 C St Sparks, 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 homes on one lot; 1,344‑square‑foot property; Both residences renovated in 2023
