Building Details

Year Built 1945

Listing Agency: Keller Williams Group One Inc.

Listed By: Dyan Chapman · License #S.190044 Show Phone

Source: Ferrari-lund

Added: Sep 10, 2025 Changed: Oct 7 Last Checked: Oct 7 at 1:11PM

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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 Keller Williams Group One Inc.

Investment Insights

Based on property information with market context.

Located at 343 & 347 Mount Rose Street in Reno’s MidTown District, this multifamily property combines a single-level main residence and an additional unit at 343 Mount Rose Street with a separate duplex at 347 Mount Rose Street. The front home includes a breezeway patio extending along the residence, while the newer building was constructed in 2017 and provides alley access.

Each duplex unit spans three stories and includes one bedroom, a den or office, two bathrooms, an attached one-car garage, two storage spaces, two private balconies, and a fenced patio area. Vaulted ceilings and bright interiors add to the layout. The property is positioned near the district’s arts, theatre, dining, and cultural destinations, with the front house benefiting from a 2024 roof replacement.

Key Highlights

• 343 & 347 Mount Rose Street in Reno’s MidTown District
• 347 Mount Rose Street duplex built in 2017 with alley access
• Each duplex unit includes 1 bedroom, den or office, and 2 bathrooms

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$50,315

Cap Rate

3.52%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,006,300 $1.0M

Cap Rate 7%

$718,786 $718.8K

Cap Rate 9%

$559,056 $559.1K

Market Conditions

NOI Build-Up for 3,894 SF

Gross rent

$95.8K $24.60/SF

− Vacancy

−$4.3K −$1.11/SF

EGI

$91.5K $23.49/SF

− OpEx

−$41.2K −$10.57/SF

NOI

$50.3K $12.92/SF

Area

Reno, NV

Vacancy

4.50%

Lease Rate

$24.60 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,006,300

Cap Rate 7%

$718,786

Cap Rate 9%

$559,056

Alternative Uses

Best Use

Apartment 5plus

$718.8K

$628.9K – $838.6K (±1% cap)

NOI $50,315 @ 7.0% cap · market cap 3.52%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.20M

$1.05M – $1.40M (±1% cap)

NOI $84,006 @ 7.0% cap · market cap 5.87%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Multifamily properties

Suggested Use

Top Pick HVAC Service (Bike/Boat/Book/etc) Store Locksmith Butcher Veterinary Clinic Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

2,096

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

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this multifamily properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Multifamily property - Two adjoining buildings combine a single-level residence, an additional unit, and a 2017-built duplex.

Where is this multifamily property located?

The property is located at 343 & 347 Mount Rose Street Reno, NV.

What is the asking price?

The asking price for this property is $1,431,000.

What are key features of this property?

This property features: 343 & 347 Mount Rose Street in Reno’s MidTown District; 347 Mount Rose Street duplex built in 2017 with alley access; Each duplex unit includes 1 bedroom, den or office, and 2 bathrooms