Reno, NV Multi-Family Homes For Sale
Owning a multi-family home in Reno can be both a place to live and a smart investment. Duplexes, triplexes, and fourplexes are common in Midtown, along Wells Avenue, and near the University - areas where renters are always looking. Many buyers choose to live in one unit and rent out the others, which helps cover the mortgage while building long-term equity.
Reno real estate stretches across Washoe County, with multi-family options tucked into busy rental corridors like Midtown and the Wells District. Our live feed from the Northern Nevada Regional MLS (NNRMLS) updates constantly, showing active MLS listings for 2-4 unit buildings. Expect to see house-hack opportunities, smaller complexes, and properties that often qualify for standard residential loans.
Multi-Family Homes For Sale in Reno NV
Listings are subject to the Fair Housing Act and NNRMLS rules.
- 1/20 20
3,712 SqFt$850,000Active Under Contract - 1/17 17
2,940 SqFt$900,000Active - 1/27 27
1,962 SqFt$850,000Active - 1/33 33
1,920 SqFt$849,900Active - 1/43 43
2,185 SqFt$725,000Price Dropped by $25K - 1/64 64
3,843 SqFt$1,225,000Active - 1/47 47
3,894 SqFt$1,431,000Price Dropped by $219K - 1/58 58
1,474 SqFt$697,000Price Dropped by $18K - 1/18 18
3,507 SqFt$1,000,000Active
Why Choose a Multi-Family Home in Reno?
Rental income can offset or even cover your mortgage, making these properties a practical choice. Buyers often “house hack” by living in one unit and renting the rest, cutting personal housing costs while gaining equity.
Because 2-4 unit buildings still qualify for residential financing, including FHA if you plan to occupy a unit, they’re more accessible than larger complexes. Locations near Midtown, Wells Avenue, and UNR keep vacancy rates low and rents strong, which is exactly what long-term investors want.
Reno Affordable Homes Market Insights
Well-priced multi-family homes don’t sit long, especially near high-demand rental areas. If you’re serious, line up pre-approval and be ready to schedule a showing quickly.
Median Sale Price (2-4 Units): Approx. $675,000. Price varies by size, condition, and location.
Median Days on Market (2-4 Units): Around 40 days. Popular properties move fast.
Inventory (2–4 Units): Less than 2 months of supply, keeping competition strong.
Rental Market Strength: Vacancy is very low (about 3.8%), showing steady tenant demand.
Duplexes near Midtown or UNR draw renters the fastest and tend to rent at higher rates. If you’re living in one unit, you may be able to secure residential financing and negotiate for closing credits instead of chasing price cuts. For a solid long-term hold, look for properties with separate utility meters and updated major systems—these details make management smoother and returns more reliable.
Reno Multi-Family Homes Buyer FAQs
Can I use an FHA or regular home loan to buy a duplex?
Yes. If you’ll live in one of the units, most 2–4 unit properties qualify for FHA or conventional financing. This keeps down payments lower and makes house hacking possible.
What is a cap rate, and why does it matter?
Capitalization rate (or “cap rate”) is the property’s income divided by its price. It’s a quick way to compare returns between properties. We’ll also look at rent rolls and expenses to make sure the numbers add up.
What should I look for during inspections?
Pay close attention to shared systems like the roof, foundation, plumbing, and electrical. It’s also a big plus if each unit has separate utility meters since that makes billing tenants easier.
How strong is rental demand in Midtown and near UNR?
Very strong. These areas stay popular thanks to nearby jobs, restaurants, and campus life. Properties here rent quickly and keep vacancy low, which makes them prime spots for small multi-family investments.