Building Details

Year Built 1956

Listing Agency: RE/MAX Professionals-Reno

Listed By: Michael Wood · License #S.65411 Show Phone

Source: Ferrari-lund

Added: Oct 5 Changed: Oct 13 Last Checked: Oct 12 at 8:07PM

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Investment Insights

Based on property information with market context.

This side-by-side duplex comprises two 2-bedroom, 1-bathroom homes on one parcel. The 1,025-square-foot residence is vacant and includes a bonus room, a separate laundry room with a washer and dryer, gas forced-air heat, and an over-the-range microwave. The neighboring 845-square-foot unit is leased. The property was built in 1956.

Both homes sit on a level, landscaped corner lot. The property also has separate electric meters and two 50-gallon water heaters. The roof dates to approximately 2020 or 2021.

Key Highlights

• Two side‑by‑side 2‑bedroom, 1‑bathroom residences on one parcel
• One 1,025‑square‑foot unit is vacant; the 845‑square‑foot adjoining unit is leased
• Vacant unit includes a bonus room and separate laundry room with washer and dryer

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$28,414

Cap Rate

3.23%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$568,280 $568.3K

Cap Rate 7%

$405,914 $405.9K

Cap Rate 9%

$315,711 $315.7K

Market Conditions

NOI Build-Up for 1,910 SF

Gross rent

$42.4K $22.20/SF

− Vacancy

−$1.8K −$0.95/SF

EGI

$40.6K $21.25/SF

− OpEx

−$12.2K −$6.38/SF

NOI

$28.4K $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 Rate 5%

$568,280

Cap Rate 7%

$405,914

Cap Rate 9%

$315,711

Alternative Uses

Best Use

Multifamily LT 5

$405.9K

$355.2K – $473.6K (±1% cap)

NOI $28,414 @ 7.0% cap · market cap 3.23%

Second Best

Apartment 5plus

$352.6K

$308.5K – $411.3K (±1% cap)

NOI $24,679 @ 7.0% cap · market cap 2.81%

Theoretical Best

Office A

$588.6K

$515.1K – $686.8K (±1% cap)

NOI $41,205 @ 7.0% cap · market cap 4.69%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

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

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

Lease Details

2

Residential units

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

2,583

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

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this duplexes 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?

Duplex - One residence is vacant, while the adjoining unit is leased and producing rental income.

Where is this duplex located?

The property is located at 415 Arroyo Reno, NV.

What is the asking price?

The asking price for this property is $879,000.

What are key features of this property?

This property features: Two side‑by‑side 2‑bedroom, 1‑bathroom residences on one parcel; One 1,025‑square‑foot unit is vacant; the 845‑square‑foot adjoining unit is leased; Vacant unit includes a bonus room and separate laundry room with washer and dryer