Two-Unit Duplex
For Sale
$799,900
400 Claremont Street, Reno, NV 89502
Centrally located two-unit duplex on a corner lot, with two bedrooms and one bathroom per unit.
Property Size1,920 SF
Days on Market16
Property Features for 400 Claremont Street
General Information
Standard status
Active
Size
1,920 SF
Property subtype
Multi Family Home
Additional Details
Multifamily Units
2
Building Details
Building Size
1,920 SF
Year Built
1980
Listing Agency:
XLNT Properties
(775) 560-4753
Listed By:
Cesar Salmoran
(775) 560-4753
Source:
Fernleynvhomes
Added: Jul 22
Changed: Jul 26
Last Checked: Aug 6 at 12:02PM
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 XLNT Properties
Investment Insights
Based on property information with market context.
This centrally located two-unit duplex offers income-producing residential flexibility with two bedrooms and one bathroom in each unit. The property sits on a generous corner lot with ample space and parking for daily use.
The duplex is described as being near schools, the airport, and shopping, providing convenient access to common amenities.
As a two-unit residential income property, it is configured to support separate tenancy within the same building footprint.
The duplex is described as being near schools, the airport, and shopping, providing convenient access to common amenities.
As a two-unit residential income property, it is configured to support separate tenancy within the same building footprint.
Key Highlights
- Two‑unit multifamily duplex built in 1980
- 2 bedrooms and 1 bathroom per unit
- Centrally located in midtown Reno
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
$28,563
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
3.57%
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%
$571,260
$571.3K
Cap Rate 7%
$408,043
$408.0K
Cap Rate 9%
$317,367
$317.4K
Market Conditions
NOI Build-Up for 1,920 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
$42.6K $22.20/SF
− Vacancy
−$1.8K −$0.95/SF
EGI
$40.8K $21.25/SF
− OpEx
−$12.2K −$6.38/SF
NOI
$28.6K $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%
$571,260
Cap Rate 7%
$408,043
Cap Rate 9%
$317,367
Alternative Uses
Best Use
Multifamily LT 5
$408.0K
$357.0K – $476.1K
NOI $28,563 @ 7.0% cap · market cap 3.57%
Second Best
Apartment 5plus
$354.4K
$310.1K – $413.5K
NOI $24,809 @ 7.0% cap · market cap 3.10%
Theoretical Best
Office A
$591.7K
$517.8K – $690.3K
NOI $41,420 @ 7.0% cap · market cap 5.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,011
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 - Centrally located two-unit duplex on a corner lot, with two bedrooms and one bathroom per unit.
Where is this duplex located?
The property is located at 400 Claremont Street Reno, NV.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Two‑unit multifamily duplex built in 1980; 2 bedrooms and 1 bathroom per unit; Centrally located in midtown Reno
