Quadplex with Private
For Sale
$1,431,000
343 Mount Rose Street Town out of, Reno, NV 89509
The property combines a 1945 front residence with newer, three-level units featuring balconies and private outdoor areas.
Property Size6,074 SF
Price / SF$235.59
Days on Market34
Property Features for 343 Mount Rose Street Town out of
General Information
Standard status
Active
Size
6,074 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/2BA, 1 x 1BR/1BA, 2 x 1BR+den/2BA
Multifamily Units
4
Amenities
vaulted ceilings
skylights
balconies
private backyard
private garage
fireplace
original wood floors
private patio
Forced Air
Wall Furnace
Deck, Patio, Porch, Composition
Building Details
Year Built
2017
Buildings
2
Listing Agency:
Keller Williams Group One, Inc.
Listed By:
Dyan Chapman · License #NV
(775) 813-8270
Source:
Kw
Added: Aug 29
Changed: Sep 30
Last Checked: Oct 1 at 9:28AM
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.
This four-unit multifamily property totals 6,074 square feet across two buildings. The front house, built in 1945, contains two units of 978 square feet each. Its main residence has two bedrooms, two bathrooms, a fireplace, and original wood flooring; the lower unit has one bedroom, one bathroom, and a private patio. The rear building was completed in 2017 and contains three-level units with one bedroom plus a den, two bathrooms, vaulted ceilings, skylights, two balconies per unit, private backyard space, and individual garages.
The property is at 343 and 347 Mount Rose Street in Reno’s Midtown District. The rear units have alley access. The combined configuration offers four residential units within a single property.
The property is at 343 and 347 Mount Rose Street in Reno’s Midtown District. The rear units have alley access. The combined configuration offers four residential units within a single property.
Key Highlights
- 6,074 square feet across four units
- Front house built in 1945; rear building completed in 2017
- Front‑house units are 978 square feet each
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
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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
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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?
Quadplex - The property combines a 1945 front residence with newer, three-level units featuring balconies and private outdoor areas.
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 across four units; Front house built in 1945; rear building completed in 2017; Front‑house units are 978 square feet each
