Updated Triplex Near
For Sale
$1,050,000
462 Laurel Street, Reno, NV 89512
Residential Income, Reno, NV
Property Size3,340 SF
Lot Size0.16 Acres
Price / SF$314.37
Days on Market620
Property Features for 462 Laurel Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
Mu
Bedrooms
7
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 5, Bathroom 4, Bedroom 3, Bathroom 3, Bedroom 4, Bedroom 1, Bedroom 6, Bathroom 2, Bathroom 1, Bedroom 7, Bedroom 2
Parking
3
Parking features
Alley, Assigned
Window features
Vinyl Frames, Double Pane Windows, Blinds
Appliances
Oven, Dishwasher, Disposal, Dryer, Gas Range, Microwave, Refrigerator, Washer
Subdivision
Edmonds
Lot features
Landscaped
Elementary school
Lemelson Stem Academy
Middle school
Traner
High school
Hug
Directions
Valley Road
Standard status
Active
APN
007-193-04
Size
3,340 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
3305
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1918
Floors in Building
1
Number of units
3
Flooring type
Concrete, Laminate, Carpet
Building materials
Frame, Stucco
Roof type
Flat
Listing Agency:
Dickson Realty - Caughlin
(775) 746-7000
Listed By:
Victoria Palladino · License #S.178436
(775) 250-5561
Added: Jan 10, 2025
Changed: Sep 12
Last Checked: Sep 22 at 8:06PM
MLS# 250000365
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 3,340-square-foot triplex on a 0.16-acre lot includes one three-bedroom unit completed in 2015 and a two-unit duplex. The newer residence offers contemporary finishes and generous living areas, while the duplex units were updated in 2015 and feature maintained interiors. The property was originally built in 1918 and includes frame and stucco construction, laminate, concrete, and carpet flooring, natural-gas forced-air heat, and central air conditioning. Appliances include ranges, refrigerators, dishwashers, disposals, microwaves, washers, and dryers.
Located next to the University, the property provides convenient access to downtown and major city routes. Public water and public sewer serve the site. Parking is assigned and accessed from the alley, with cable available. Mu zoning supports the property's multifamily classification.
Located next to the University, the property provides convenient access to downtown and major city routes. Public water and public sewer serve the site. Parking is assigned and accessed from the alley, with cable available. Mu zoning supports the property's multifamily classification.
Key Highlights
- 3,340‑square‑foot triplex on a 0.16‑acre lot
- Three‑bedroom unit completed in 2015
- Two‑unit duplex updated in 2015
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
$49,687
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
4.73%
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%
$993,740
$993.7K
Cap Rate 7%
$709,814
$709.8K
Cap Rate 9%
$552,078
$552.1K
Market Conditions
NOI Build-Up for 3,340 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
$74.1K $22.20/SF
− Vacancy
−$3.2K −$0.95/SF
EGI
$71.0K $21.25/SF
− OpEx
−$21.3K −$6.38/SF
NOI
$49.7K $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%
$993,740
Cap Rate 7%
$709,814
Cap Rate 9%
$552,078
Alternative Uses
Best Use
Multifamily LT 5
$709.8K
$621.1K – $828.1K
NOI $49,687 @ 7.0% cap · market cap 4.73%
Second Best
Apartment 5plus
$616.5K
$539.5K – $719.3K
NOI $43,157 @ 7.0% cap · market cap 4.11%
Theoretical Best
Office A
$1.03M
$900.7K – $1.20M
NOI $72,054 @ 7.0% cap · market cap 6.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,437
Businesses Nearby
Explore this area
Business Placement
Demographics for 89512, NV
30,148
Population
12,374
Households
2.4
Avg Household Size
30
Median Age
18%
College-Educated
76%
High-School Grad
6.2 sq mi
ZIP Area
4,863
Density / Sq Mi
$45,284
Median Household Income
$34,587
Median Earnings
$1,113
Median Rent
$318,400
Median Home Value
Check the figures for this property
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?
Triplex - Three-unit property with public utilities, central air, and assigned alley parking near downtown access.
Where is this triplex located?
The property is located at 462 Laurel Street Reno, NV.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 3,340‑square‑foot triplex on a 0.16‑acre lot; Three‑bedroom unit completed in 2015; Two‑unit duplex updated in 2015
