Duplex With Separate
For Sale
$675,000
363 Roberts Street, Reno, NV 89502
Residential Income, Reno, NV
Property Size2,192 SF
Lot Size0.16 Acres
Price / SF$307.94
Days on Market16
Property Features for 363 Roberts Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
MF30
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Parking
4
Parking features
Alley
Window features
Aluminum Frames, Double Pane Windows, Single Pane Window(s), Vinyl Frames
Interior features
High Ceilings
Exterior features
Rain Gutters
Appliances
Oven, Dishwasher, Disposal, Dryer, Gas Range, Refrigerator
Subdivision
Wells Addition
Lot features
Landscaped, Level, Sprinklers In Front
Elementary school
Booth
Middle school
Vaughn
High school
Wooster
Standard status
Active
APN
013-091-11
Size
2,192 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
1722
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Window Unit(s), Wall/Window Unit(s), Evaporative Cooling
Water source
Public
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Flooring type
Tile - Ceramic, Vinyl, Wood, Carpet
Building materials
Concrete, Frame
Roof type
Shingle, Composition
Listing Agency:
Chase International-Damonte
(775) 850-5900
Listed By:
Patrick Intemann · License #S.185118
(775) 771-1451
Added: Aug 14
Changed: Aug 28
Last Checked: Aug 29 at 12:06PM
MLS# 260010922
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 duplex property includes two separate residences totaling 2,192 square feet on a 0.16-acre parcel. The front home offers two bedrooms, one bathroom, 1,374 sq ft of living area, and a 525 sq ft unfinished basement. The rear residence contains one bedroom, one bathroom, and 818 sq ft, with its own backyard access.
Built in 1920, the property retains period character through original-style door hardware, moldings, and windows. Interior features include high ceilings, wood and ceramic tile flooring, and a mix of forced-air, natural gas, window-unit, wall/window-unit, and evaporative cooling systems. The property is zoned MF30 and served by public water and public sewer.
Built in 1920, the property retains period character through original-style door hardware, moldings, and windows. Interior features include high ceilings, wood and ceramic tile flooring, and a mix of forced-air, natural gas, window-unit, wall/window-unit, and evaporative cooling systems. The property is zoned MF30 and served by public water and public sewer.
Key Highlights
- Two separate residences totaling 2,192 square feet
- Front home includes 2 bedrooms, 1 bathroom, 1,374 sq ft, and a 525 sq ft unfinished basement
- Rear home offers 1 bedroom, 1 bathroom, 818 sq ft, and backyard access
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
$32,609
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
4.83%
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%
$652,180
$652.2K
Cap Rate 7%
$465,843
$465.8K
Cap Rate 9%
$362,322
$362.3K
Market Conditions
NOI Build-Up for 2,192 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
$48.7K $22.20/SF
− Vacancy
−$2.1K −$0.95/SF
EGI
$46.6K $21.25/SF
− OpEx
−$14.0K −$6.38/SF
NOI
$32.6K $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%
$652,180
Cap Rate 7%
$465,843
Cap Rate 9%
$362,322
Alternative Uses
Best Use
Multifamily LT 5
$465.8K
$407.6K – $543.5K
NOI $32,609 @ 7.0% cap · market cap 4.83%
Second Best
Apartment 5plus
$404.6K
$354.0K – $472.1K
NOI $28,323 @ 7.0% cap · market cap 4.20%
Theoretical Best
Office A
$675.5K
$591.1K – $788.1K
NOI $47,288 @ 7.0% cap · market cap 7.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
5,603
Businesses Nearby
Explore this area
Business Placement
Demographics for 89502, NV
47,062
Population
20,781
Households
2.3
Avg Household Size
36
Median Age
19%
College-Educated
80%
High-School Grad
21.5 sq mi
ZIP Area
2,189
Density / Sq Mi
$62,719
Median Household Income
$36,796
Median Earnings
$1,243
Median Rent
$389,200
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?
Duplex - Two residences occupy a single Midtown Reno parcel.
Where is this duplex located?
The property is located at 363 Roberts Street Reno, NV.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Two separate residences totaling 2,192 square feet; Front home includes 2 bedrooms, 1 bathroom, 1,374 sq ft, and a 525 sq ft unfinished basement; Rear home offers 1 bedroom, 1 bathroom, 818 sq ft, and backyard access
