Four-Unit Apartment
For Sale
$740,000
650 Denslowe Drive, Reno, NV 89512
Two-bedroom residences provide separate front and rear access, while upper units add private balconies.
Property Size2,966 SF
Days on Market213
Property Features for 650 Denslowe Drive
General Information
Standard status
Active
Size
2,966 SF
Total Parking Spaces
6
Property subtype
Multi Family Home
Zoning
MF30
Property Condition
Severity
Repairs Needed
Evidence
requires minimal maintenance
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Additional Details
Cap Rate
6.16%
Taxes and HOA fees
Annual Taxes
$1,020
Building Details
Building Size
2,966 SF
Year Built
1952
Buildings
1
Stories
2
Units
4
Listing Agency:
Dickson Realty - Downtown
(775) 360-0060
Listed By:
Jacqueline Lescott · License #S.187479
(775) 360-0060
Source:
Fernleynvhomes
Added: Jan 29
Changed: Aug 29
Last Checked: Aug 30 at 5:42PM
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 Dickson Realty - Downtown
Investment Insights
Based on property information with market context.
This four-unit apartment property in Reno includes a consistent layout across the residences, with two bedrooms and one bathroom per unit. Each residence has its own front and rear entrance, and the two upstairs units include private balconies. Long-term tenants are currently in place, providing an occupied rental configuration for an investor. The property is located at 650 Denslowe Dr near major amenities and minutes from the University of Nevada, Reno. A self-managed CAP rate of 6.16 percent is reported.
Key Highlights
- Four‑unit apartment property at 650 Denslowe Dr, Reno, NV
- Each unit includes two bedrooms and one bathroom
- Private front and rear entrances for every residence
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
$44,124
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
5.96%
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%
$882,480
$882.5K
Cap Rate 7%
$630,343
$630.3K
Cap Rate 9%
$490,267
$490.3K
Market Conditions
NOI Build-Up for 2,966 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
$65.8K $22.20/SF
− Vacancy
−$2.8K −$0.95/SF
EGI
$63.0K $21.25/SF
− OpEx
−$18.9K −$6.38/SF
NOI
$44.1K $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%
$882,480
Cap Rate 7%
$630,343
Cap Rate 9%
$490,267
Alternative Uses
Best Use
Multifamily LT 5
$630.3K
$551.6K – $735.4K
NOI $44,124 @ 7.0% cap · market cap 5.96%
Second Best
Apartment 5plus
$547.5K
$479.1K – $638.7K
NOI $38,324 @ 7.0% cap · market cap 5.18%
Theoretical Best
Office A
$914.1K
$799.8K – $1.07M
NOI $63,986 @ 7.0% cap · market cap 8.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
645
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Two-bedroom residences provide separate front and rear access, while upper units add private balconies.
Where is this quadplex located?
The property is located at 650 Denslowe Drive Reno, NV.
What is the asking price?
The asking price for this property is $740,000.
What are key features of this property?
This property features: Four‑unit apartment property at 650 Denslowe Dr, Reno, NV; Each unit includes two bedrooms and one bathroom; Private front and rear entrances for every residence
