55+ Community Ground-Floor
For Sale
$135,000
1945 4th Street, Sparks, NV 89431
MULTI_FAMILY - Sparks, NV
Property Size940 SF
Lot Size3.51 Acres
Price / SF$143.62
Days on Market244
Property Features for 1945 4th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
MF-4
Bedrooms
2
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1, Bedroom 1, Bedroom 2
Parking
1
Parking features
Garage, Alley
Window features
Blinds, Double Pane Windows
Patio and Porch features
Patio
Interior features
Primary Downstairs
Appliances
Dishwasher, Electric Oven, Gas Cooktop, Oven, Refrigerator
Lot features
Landscaped, Level, Sprinklers In Front
View
City
Elementary school
Greenbrae
Middle school
Dilworth
High school
Sparks
Directions
Pyramid Way > Greenbrae Dr. > 4th St.
Standard status
Active
APN
028-310-07
Size
940 SF
Lot size
3.51 Acres
Taxes and HOA fees
HOA Fee
$600 Annually
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Wall Furnace
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1960
Floors in Building
1
Flooring type
Vinyl, Carpet
Building materials
Brick
Roof type
Shingle
Listing Agency:
Dickson Realty - Sparks
(775) 685-8800
Listed By:
Ashley Evans · License #S.188806
(775) 233-7005
Added: Dec 8, 2025
Changed: Jun 9
Last Checked: Aug 9 at 3:06PM
MLS# 250058938
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 2-bedroom, 1-bath ground-level unit is located within a well-maintained 55+ community. The home is designed for comfortable, low-maintenance living and includes a single-car garage. A courtyard area offers outdoor space for relaxing, providing an easy, walk-up lifestyle within the community setting.
Set in Sparks, the property is positioned for convenient access to local shopping and dining, as well as Downtown Sparks. The area is noted in the remarks for year-round events, including live concerts and community favorites such as the Nugget Rib Cook-Off and Hot August Nights.
For buyers seeking simplified single-level living, this ground-level layout and courtyard setting may appeal as an owner-occupied option in a structured 55+ environment. The combination of an attached single-car garage and minimal exterior responsibilities supports day-to-day convenience, while the community setting keeps residents close to nearby everyday amenities.
Set in Sparks, the property is positioned for convenient access to local shopping and dining, as well as Downtown Sparks. The area is noted in the remarks for year-round events, including live concerts and community favorites such as the Nugget Rib Cook-Off and Hot August Nights.
For buyers seeking simplified single-level living, this ground-level layout and courtyard setting may appeal as an owner-occupied option in a structured 55+ environment. The combination of an attached single-car garage and minimal exterior responsibilities supports day-to-day convenience, while the community setting keeps residents close to nearby everyday amenities.
Key Highlights
- 55+ community ground‑level 2‑bedroom, 1‑bath home
- Brick construction with shingle roof and indoor flooring of vinyl and carpet
- Primary bedroom downstairs (primary downstairs feature)
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
$10,460
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
7.75%
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%
$209,200
$209.2K
Cap Rate 7%
$149,429
$149.4K
Cap Rate 9%
$116,222
$116.2K
Market Conditions
NOI Build-Up for 940 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
$19.9K $21.12/SF
− Vacancy
−$834 −$0.89/SF
EGI
$19.0K $20.23/SF
− OpEx
−$8.6K −$9.10/SF
NOI
$10.5K $11.13/SF
Area
Sparks, NV
Vacancy
4.20%
Lease Rate
$21.12 /SF/Yr
Expense Ratio
45.00%
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%
$209,200
Cap Rate 7%
$149,429
Cap Rate 9%
$116,222
Alternative Uses
Best Use
Apartment 5plus
$149.4K
$130.8K – $174.3K
NOI $10,460 @ 7.0% cap · market cap 7.75%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$332.7K
$291.1K – $388.2K
NOI $23,291 @ 7.0% cap · market cap 17.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
578
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Single family property - Ground-level 2-bedroom unit with a single-car garage and courtyard access in a well-maintained 55+ community.
Where is this single family property located?
The property is located at 1945 4th Street Sparks, NV.
What is the asking price?
The asking price for this property is $135,000.
What are key features of this property?
This property features: 55+ community ground‑level 2‑bedroom, 1‑bath home; Brick construction with shingle roof and indoor flooring of vinyl and carpet; Primary bedroom downstairs (primary downstairs feature)
