Two-Unit Duplex with Updated
For Sale
$843,947
1970 Zephyr Way, Sparks, NV 89431
Each occupied residence has two bedrooms and two bathrooms.
Property Size2,092 SF
Days on Market11
Property Features for 1970 Zephyr Way
General Information
Standard status
Active
Size
2,092 SF
Total Parking Spaces
1
Property subtype
Residential Income
Zoning
MF-2
Occupancy
100%
Net Operating Income
$42,197
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,618
Amenities
Central Air, Electric, Ceiling Fan(s)
Electric, Forced Air, Natural Gas
Oven, Dishwasher, Disposal, Dryer, Gas Range, Microwave, Refrigerator, Self Cleaning Oven, Washer
Ceiling Fan(s)
Back Yard
Attached, Garage, Garage Door Opener
Building Details
Building Size
2,092 SF
Year Built
2007
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
RE/MAX Professionals
Listed By:
Sara Sharkey · License #BS.145320
(775) 846-9291
Source:
Evrealestate
Added: Sep 27
Changed: Oct 6
Last Checked: Oct 7 at 12:37PM
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 RE/MAX Professionals
Investment Insights
Based on property information with market context.
Built in 2007, this 2,092-square-foot duplex contains two tenant-occupied residences, each with 2 bedrooms and 2 bathrooms. Both kitchens have granite countertops. Laminate flooring runs through the living room and bedrooms in one unit; the other has carpet in those areas.
Tenants reimburse sewer and garbage costs.
Tenants reimburse sewer and garbage costs.
Key Highlights
- Two tenant‑occupied units, each with 2 bedrooms and 2 bathrooms
- 2,092 square feet; built in 2007
- Granite countertops in both kitchens
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,012
Cap Rate
3.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$520,240
$520.2K
Cap Rate 7%
$371,600
$371.6K
Cap Rate 9%
$289,022
$289.0K
Market Conditions
NOI Build-Up for 2,092 SF
Gross rent
$38.9K $18.60/SF
− Vacancy
−$1.8K −$0.84/SF
EGI
$37.2K $17.76/SF
− OpEx
−$11.1K −$5.33/SF
NOI
$26.0K $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 Rate 5%
$520,240
Cap Rate 7%
$371,600
Cap Rate 9%
$289,022
Alternative Uses
Best Use
Multifamily LT 5
$371.6K
$325.2K – $433.5K
NOI $26,012 @ 7.0% cap · market cap 3.08%
Second Best
Apartment 5plus
$332.6K
$291.0K – $388.0K
NOI $23,280 @ 7.0% cap · market cap 2.76%
Theoretical Best
Specialty Retail
$740.5K
$647.9K – $863.9K
NOI $51,835 @ 7.0% cap · market cap 6.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
479
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
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 - Each occupied residence has two bedrooms and two bathrooms.
Where is this duplex located?
The property is located at 1970 Zephyr Way Sparks, NV.
What is the asking price?
The asking price for this property is $843,947.
What are key features of this property?
This property features: Two tenant‑occupied units, each with 2 bedrooms and 2 bathrooms; 2,092 square feet; built in 2007; Granite countertops in both kitchens
