Two-Unit
For Sale
Contact for pricing
2101 LOGAN WAY, Sparks, NV 89431
Income-producing residential property with MF-2 zoning and a two-unit configuration.
Property Size2,384 SF
Price / SF$251.68
Days on Market126
Property Features for 2101 LOGAN WAY
General Information
Standard status
Active
Size
2,384 SF
Property subtype
Multifamily
Zoning
MF-2
Occupancy
50%
Investment Type
Value Add
Net Operating Income
$14,022
Additional Details
Multifamily Units
2
Building Details
Year Built
1964
Stories
1
Units
2
Tenancy
Single
Listing Agency:
LPT Realty
(925) 321-8042
Listed By:
Kerry Herdt · License #NV BS.0146281
Source:
Crexi
Added: Apr 28
Changed: Aug 29
Last Checked: Aug 29 at 5:52PM
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 LPT Realty
Investment Insights
Based on property information with market context.
This duplex property contains two residential units within a 2,384-square-foot building. Constructed in 1964, the property carries MF-2 zoning, supporting its multifamily classification.
The asset is located in Sparks, Nevada, at 2101 Logan Way, with a 89431 ZIP code. Its two-unit layout offers a straightforward multifamily configuration for residential income use.
The asset is located in Sparks, Nevada, at 2101 Logan Way, with a 89431 ZIP code. Its two-unit layout offers a straightforward multifamily configuration for residential income use.
Key Highlights
- Two residential units
- 2,384‑square‑foot building
- MF‑2 zoning
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
$29,643
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
4.94%
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%
$592,860
$592.9K
Cap Rate 7%
$423,471
$423.5K
Cap Rate 9%
$329,367
$329.4K
Market Conditions
NOI Build-Up for 2,384 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
$44.3K $18.60/SF
− Vacancy
−$2.0K −$0.84/SF
EGI
$42.3K $17.76/SF
− OpEx
−$12.7K −$5.33/SF
NOI
$29.6K $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%
$592,860
Cap Rate 7%
$423,471
Cap Rate 9%
$329,367
Alternative Uses
Best Use
Multifamily LT 5
$423.5K
$370.5K – $494.1K
NOI $29,643 @ 7.0% cap · market cap 4.94%
Second Best
Apartment 5plus
$379.0K
$331.6K – $442.2K
NOI $26,529 @ 7.0% cap · market cap 4.42%
Theoretical Best
Specialty Retail
$843.9K
$738.4K – $984.5K
NOI $59,071 @ 7.0% cap · market cap 9.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
627
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Income-producing residential property with MF-2 zoning and a two-unit configuration.
Where is this duplex located?
The property is located at 2101 LOGAN WAY Sparks, NV.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Two residential units; 2,384‑square‑foot building; MF‑2 zoning
