Two-Residence Duplex with
New
For Sale
$1,070,000
341 W Arroyo Street, Reno, NV 89509
Residential Income, Reno, NV
Property Size4,344 SF
Lot Size0.16 Acres
Price / SF$246.32
Days on Market3
Property Features for 341 W Arroyo Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
MU-RES
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bedroom 3, Bathroom 4, Bathroom 3, Bedroom 1, Bathroom 2, Bedroom 2, Bedroom 4
Parking features
Alley, Open, Garage
Window features
Vinyl Frames, Double Pane Windows, Drapes
Exterior features
Awning(s), Rain Gutters
Appliances
Oven, Dishwasher, Disposal, Dryer, Electric Oven, Electric Range, Microwave, Refrigerator, Washer
Subdivision
Sierra Vista Tract
Lot features
Corner Lot, Landscaped, Level, Sprinklers In Front, Sprinklers In Rear
Elementary school
Mt. Rose
Middle school
Swope
High school
Reno
Directions
Plumas to Arroyo
Standard status
Active
APN
014-113-07
Size
4,344 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
2392
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1943
Floors in Building
1
Number of units
2
Flooring type
Wood
Building materials
Brick
Roof type
Shingle, Composition
Listing Agency:
Chase International-Damonte
(775) 850-5900
Listed By:
Isabel Concha-Foley · License #S.189583
(775) 790-1387
Added: Sep 14
Changed: Sep 16
Last Checked: Sep 16 at 7:06PM
MLS# 260011940
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 MU-RES duplex property contains two separate residences at 341 W Arroyo Street and 1261 Forest Street on a 0.16-acre lot. The property totals 4,344 square feet and was built in 1943, with brick construction, wood flooring, central air, forced-air heating, public water, and public sewer. Each residence includes two bedrooms, one full bathroom, a kitchen, and an upstairs living room with approximately 1,000 square feet of living space. Lower-level areas add bathrooms, storage, workshops, and flexible rooms, including a private-entrance bonus area at 1261 Forest. Each residence has a detached garage; 1261 Forest also provides covered parking.
Outdoor features include a front yard at 341 W Arroyo, a covered patio at 1261 Forest, awnings, and rain gutters. The two-address property is in Midtown Reno, minutes from Downtown Reno, restaurants, coffee shops, shopping, entertainment, parks, and the Truckee River. Appliances include ranges, ovens, refrigerators, dishwashers, disposals, microwaves, washers, and dryers.
Outdoor features include a front yard at 341 W Arroyo, a covered patio at 1261 Forest, awnings, and rain gutters. The two-address property is in Midtown Reno, minutes from Downtown Reno, restaurants, coffee shops, shopping, entertainment, parks, and the Truckee River. Appliances include ranges, ovens, refrigerators, dishwashers, disposals, microwaves, washers, and dryers.
Key Highlights
- Two separate residences at 341 W Arroyo Street and 1261 Forest Street
- 4,344 square feet on a 0.16‑acre lot
- 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
Explore this area
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
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 - MU-RES property combines separate living spaces, detached garages, covered parking, and central Midtown access near Downtown Reno.
Where is this duplex located?
The property is located at 341 W Arroyo Street 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 separate residences at 341 W Arroyo Street and 1261 Forest Street; 4,344 square feet on a 0.16‑acre lot; Each residence offers 2 bedrooms, 1 full bathroom, kitchen, and living room
