Two-Residence Duplex with Detached
For Sale
$1,070,000
341 Arroyo, Reno, NV 89509
Two separate residences share one lot, with private living areas, bonus rooms, detached garages, and additional covered parking.
Property Size4,344 SF
Price / SF$246.32
Days on Market22
Property Features for 341 Arroyo
General Information
Standard status
Active
Size
4,344 SF
Property subtype
Multi-family
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Building Details
Year Built
1943
Listing Agency:
Chase International-Damonte
Listed By:
Isabel Concha-Foley
(775) 688-4000
Source:
Ferrari-lund
Added: Sep 6
Changed: Sep 26
Last Checked: Sep 26 at 9:33AM
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 Chase International-Damonte
Investment Insights
Based on property information with market context.
This duplex property comprises two separate residences on one lot at 341 W Arroyo Street and 1261 Forest Street. Each residence includes 2 bedrooms, 1 full bathroom, a kitchen, and a living room on the upper level, with approximately 1,000 square feet of living space. Lower-level areas add flexible room, storage, and workshop space; 341 W Arroyo includes an entertainment room, exercise area, half bathroom, and storage, while 1261 Forest includes an entertainment room or potential extra-large bedroom, workshop, storage, private entrance, and an additional full bathroom. The property totals 4,344 square feet and was built in 1943.
Each residence has a detached garage for parking and storage, and 1261 Forest also provides additional covered parking. Exterior features include a front yard at 341 W Arroyo and a covered outdoor patio at 1261 Forest. The property is in Reno’s Midtown area, with access to Downtown Reno, restaurants, coffee shops, shopping, entertainment, parks, and the Truckee River.
Each residence has a detached garage for parking and storage, and 1261 Forest also provides additional covered parking. Exterior features include a front yard at 341 W Arroyo and a covered outdoor patio at 1261 Forest. The property is in Reno’s Midtown area, with access to Downtown Reno, restaurants, coffee shops, shopping, entertainment, parks, and the Truckee River.
Key Highlights
- Two residences on one lot at 341 W Arroyo Street and 1261 Forest Street
- 4,344‑square‑foot property built in 1943
- Each residence offers 2 bedrooms, 1 full bathroom, kitchen, and living room
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
$64,623
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
6.04%
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%
$1,292,460
$1.3M
Cap Rate 7%
$923,186
$923.2K
Cap Rate 9%
$718,033
$718.0K
Market Conditions
NOI Build-Up for 4,344 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
$96.4K $22.20/SF
− Vacancy
−$4.1K −$0.95/SF
EGI
$92.3K $21.25/SF
− OpEx
−$27.7K −$6.38/SF
NOI
$64.6K $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%
$1,292,460
Cap Rate 7%
$923,186
Cap Rate 9%
$718,033
Alternative Uses
Best Use
Multifamily LT 5
$923.2K
$807.8K – $1.08M
NOI $64,623 @ 7.0% cap · market cap 6.04%
Second Best
Apartment 5plus
$801.8K
$701.6K – $935.5K
NOI $56,129 @ 7.0% cap · market cap 5.25%
Theoretical Best
Office A
$1.34M
$1.17M – $1.56M
NOI $93,714 @ 7.0% cap · market cap 8.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,882
Businesses Nearby
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Business Placement
Demographics for 89509, NV
34,817
Population
18,290
Households
1.9
Avg Household Size
44
Median Age
50%
College-Educated
95%
High-School Grad
8.8 sq mi
ZIP Area
3,956
Density / Sq Mi
$81,751
Median Household Income
$47,546
Median Earnings
$1,443
Median Rent
$670,700
Median Home Value
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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 separate residences share one lot, with private living areas, bonus rooms, detached garages, and additional covered parking.
Where is this duplex located?
The property is located at 341 Arroyo Reno, NV.
What is the asking price?
The asking price for this property is $1,070,000.
What are key features of this property?
This property features: Two residences on one lot at 341 W Arroyo Street and 1261 Forest Street; 4,344‑square‑foot property built in 1943; Each residence offers 2 bedrooms, 1 full bathroom, kitchen, and living room
