Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$640,000
Residential income homes
280 Is Ave 1602 Reno, NV 89501-1806
Individually Owned
1-yr Hold
~
Est. High Equity
Property ID
US62-0934785
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1961
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
1,651 SF
Lot
0.04 ac (1,651 SF)
Zoning code
MDRD
APN
011-476-02
UPID
US62-0934785
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Park Tower Hoa Recreation Center Association / Organization
-
Reno Condo Hostel
-
Mojave Solutions Consultant
-
HomePro Management Property Management Company
-
Benke Condo Condominium Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$640k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$434k
Blend (final)
Blend
$640k
Owner & transaction history
Kurt Staben · 1 yrs held
Kurt Staben
since 2024
Last sale
$640,000
7 recorded transactions
Zoning & alternative use
MDRD · Reno, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$880,000
+61.5%
Neighborhood: shopping center
$665,000
+21.7%
Medical building
$575,000
+5.7%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Reno submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Reno submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$640,000
ML approach
$640,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$545,000
Current use
COMMERCIAL (GENERAL)
$880,000
Change: +61% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$665,000
Change: +22% · Conversion: Difficult
MEDICAL BUILDING
$575,000
Change: +6% · Conversion: Moderate
AUTO REPAIR, GARAGE
$555,000
Change: +2% · Conversion: Difficult
OFFICE BUILDING
$445,000
Change: -19% · Conversion: Moderate
Blend value · Realmo final
$640k
Range $576k – $704k · ±10% · vs last sale $640k (Nov 12 2024)
Last sale anchor
$640k
Nov 12 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$388 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$1,722
Tax year 2023
Assessed value
$86,769
Assessed 2023
Previous assessed
$86,769
+0.0% YoY
Effective rate
1.98%
On assessed value
Assessed land
$43,085
Assessed improvement
$43,684
Land market value
$123,100
Improvement market value
$124,811
Total market value
$247,911
Applied tax rate
1,002.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Status
Off-Market
Year built
1961
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Stories
18
Units
1
Bathrooms
2
Total area
1,651 SF
Lot
0.04 ac (1,651 SF)
Zoning code
MDRD
APN
011-476-02
UPID
US62-0934785
Jurisdiction
WASHOE
Zoning & alternative use
MDRD · Reno, NV
Zoning MDRD · permitted uses
MDRD · Reno, NV
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Reno. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$545,000
COMMERCIAL (GENERAL)
Est. value
$880,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$665,000
MEDICAL BUILDING
Est. value
$575,000
AUTO REPAIR, GARAGE
Est. value
$555,000
OFFICE BUILDING
Est. value
$445,000
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
AUTO REPAIR, GARAGE
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1961
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Stories
18
Units
1
Bathrooms
2
Lot
0.04 ac
Current owner
From public records · entity-resolved
Kurt Staben
Individual
Mailing address
280 W IS AVE APT #1602, RENO, NV 89501-1806
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 28, 2024
$640,000
Kurt Staben
J C Tompkins
Bargain And Sale Deed
$340,000 · American Airlines FCU
Sep 20, 2021
—
J C Tompkins
Robert Parrino
Re-recorded Document
related
—
Jun 25, 2021
$540,000
John Charles Chuck Tompkins
Robert Parrino
Bargain And Sale Deed
—
Oct 25, 2007
$350,000
Robert Parrino
Marx,lisa
Grant Deed
—
Apr 21, 2005
$429,000
Lisa Marx
Kl & J Management
Grant Deed
$343,200 · Paul Financial LLC
Dec 17, 2004
$440,000
Kl & J Management Co
280 Island Avenue LLC
Grant Deed
—
Apr 7, 2004
$243,800
280 Island Avenue LLC
Johnson,kevin L & Rebecca G
Grant Deed
—
Apr 7, 2004
$2,509,500
280 Island Avenue LLC
Kromer Family Trust
Grant Deed
—
—
—
Lisa Marx
—
Deed Of Trust
related
$64,650 · Wells Fargo Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 280 Is Ave, Unit 1602?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
