MidTown Quadplex with Private
For Sale
$1,431,000
343 Mount Rose Street Town out of, Reno, NV 89509
Four-unit multifamily property combines established residences with newer multilevel units and individual outdoor spaces.
Property Size3,894 SF
Price / SF$235.59
Days on Market203
Property Features for 343 Mount Rose Street Town out of
General Information
Standard status
Active
Size
3,894 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/2BA, 1 x 1BR/1BA, 2 x 1BR+den/2BA
Multifamily Units
4
Amenities
Forced Air
Wall Furnace
Deck, Patio, Porch, Composition
Building Details
Building Size
3,894 SF
Year Built
2017
Buildings
2
Listing Agency:
KW Group One, Inc.
(775) 813-8270
Listed By:
Dyan Chapman · License #NV
(775) 813-8270
Source:
Kw
Added: Feb 8
Changed: Aug 30
Last Checked: Aug 30 at 11:23AM
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 KW Group One, Inc.
Investment Insights
Based on property information with market context.
This quadplex includes 6,074 square feet of living area across four units at 343 and 347 Mount Rose Street. The front residence, constructed in 1945, contains two units: a 978-square-foot, two-bedroom, two-bath home with a fireplace and original wood flooring, plus a one-bedroom, one-bath lower unit with a private patio. Forced-air and wall-furnace systems are among the reported interior features.
The two additional residences were built in 2017 and each offers one bedroom plus a den, two baths, three levels, vaulted ceilings, skylights, two balconies, a private backyard area, and an individual garage. The 347 Mount Rose units are accessed from the alley and share the same parcel. The property is in Reno’s MidTown District, near arts, cultural, theatrical, and dining destinations.
The two additional residences were built in 2017 and each offers one bedroom plus a den, two baths, three levels, vaulted ceilings, skylights, two balconies, a private backyard area, and an individual garage. The 347 Mount Rose units are accessed from the alley and share the same parcel. The property is in Reno’s MidTown District, near arts, cultural, theatrical, and dining destinations.
Key Highlights
- 6,074 square feet of interior living space across four units
- Front house built in 1945 with two residences, including a 978‑square‑foot two‑bedroom home
- Two 2017‑built units feature one bedroom plus den, two baths, and three levels
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
$90,360
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
6.31%
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%
$1,807,200
$1.8M
Cap Rate 7%
$1,290,857
$1.3M
Cap Rate 9%
$1,004,000
$1.0M
Market Conditions
NOI Build-Up for 6,074 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
$134.8K $22.20/SF
− Vacancy
−$5.8K −$0.95/SF
EGI
$129.1K $21.25/SF
− OpEx
−$38.7K −$6.38/SF
NOI
$90.4K $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%
$1,807,200
Cap Rate 7%
$1,290,857
Cap Rate 9%
$1,004,000
Alternative Uses
Best Use
Multifamily LT 5
$1.29M
$1.13M – $1.51M
NOI $90,360 @ 7.0% cap · market cap 6.31%
Second Best
Apartment 5plus
$1.12M
$981.0K – $1.31M
NOI $78,483 @ 7.0% cap · market cap 5.48%
Theoretical Best
Office A
$1.87M
$1.64M – $2.18M
NOI $131,035 @ 7.0% cap · market cap 9.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit multifamily property combines established residences with newer multilevel units and individual outdoor spaces.
Where is this quadplex located?
The property is located at 343 Mount Rose Street Town out of 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: 6,074 square feet of interior living space across four units; Front house built in 1945 with two residences, including a 978‑square‑foot two‑bedroom home; Two 2017‑built units feature one bedroom plus den, two baths, and three levels
