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Property profile & analytics
OFF-MARKET
Residential income homes
280 Is Ave 901 Reno, NV 89501-1803
Individually Owned
2-yr Hold
Property ID
US62-0052466
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
428 SF
Lot
0.01 ac (428 SF)
Zoning code
MDRD
APN
011-474-01
UPID
US62-0052466
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 Association / Organization Recreation Center
-
Reno Condo Hostel
-
Mojave Solutions Consultant
-
HomePro Management Property Management Company
-
Benke Condo Condominium Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Michael Rios · 2 yrs held
Michael Rios
since 2024
Last sale
$150,000
7 recorded transactions
Zoning & alternative use
MDRD · Reno, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$643
Tax year 2023
Assessed value
$29,097
Assessed 2023
Previous assessed
$29,097
+0.0% YoY
Effective rate
2.21%
On assessed value
Assessed land
$18,095
Assessed improvement
$11,002
Land market value
$51,700
Improvement market value
$31,434
Total market value
$83,134
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
1
Total area
428 SF
Lot
0.01 ac (428 SF)
Zoning code
MDRD
APN
011-474-01
UPID
US62-0052466
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.
Building & site characteristics
From public records
Year built
1961
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Stories
18
Units
1
Bathrooms
1
Lot
0.01 ac
Current owner
From public records · entity-resolved
Michael Rios
Individual
Mailing address
2132 N BRIGHTON ST, BURBANK, CA 91504-3314
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 18, 2024
—
Michael Rios
Michael A Rios
Intrafamily Transfer
related
—
Feb 27, 2020
$150,000
Michael A Rios
Justin S Marty
Grant Deed
$120,000 · Closingmark Hm Lns INC
Jun 13, 2014
$80,000
Justin S Marty
Siegel,arnold I
Grant Deed
—
May 20, 2004
$100,000
Arnold I Siegel
280 Island Avenue LLC
Grant Deed
$80,000 · Wells Fargo Bank
Jun 19, 2003
$1,276,500
Kromer,tr
—
Grant Deed
related
—
Feb 28, 2003
$602,550
Kromer,tr
280 Island Avenue LLC
Grant Deed
—
Jan 30, 2002
$2,704,500
280 Island Avenue LLC
Johnson,kevin L & Rebecca G
Grant Deed
—
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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