Local Information
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Description
Exceptional investment and development opportunity in Reno's Downtown-University District. This listing is one of two contiguous parcels (only being sold together. See MLS#250056342) at 336 & 344 East 7th Street, just blocks from the University of Nevada, Reno. Combined, the lots total approximately 12,600 sq. ft. (0.29 acres) and are zoned MD-UD (Mixed-Use Downtown - University District), one of Reno's most progressive zoning designations designed to encourage university-supportive housing, retail, and innovation uses. City Planning confirms no entitlements are required for the proposed conceptual project. Zoning allows a Floor Area Ratio of 3.0 to 4.0, which supports approximately 37,800 to 50,400 buildable square feet. There is no height limit under MD-UD zoning. Setbacks include 12 feet at the front and zero at the sides and rear (5 feet if abutting residential). Parking requirements are zero. Bicycle storage requirements are approximately 1.5 spaces per unit; a 115-unit concept would require about 170 secured bike spaces. A recent feasibility study highlights a conceptual plan as a four-story student-focused housing project of approximately 45,000 sq. ft., with an efficient mix of 75 studios (300 sq. ft.) and 40 one-bedrooms (500 sq. ft.), totaling about 115 units. Market rents in the University District average 1,100 for studios and 1,400 for one-bedrooms, supporting gross annual income of approximately 1.66M and net operating income of about 1.16M after 30 percent expenses. Projected development costs, including land and construction at 300 per sq. ft., are estimated around 14.5M, supporting an 8 percent return on cost. This is only a conceptual plan and not to be relied on as factual. The site benefits from its prime location near UNR, Midtown, and Downtown Reno, excellent access to transit, and proximity to retail, dining, and educational amenities. With by-right zoning, zero parking requirements, and strong rental demand from students and young professionals, this is a rare opportunity to deliver a high-yield urban infill project in one of Reno's most dynamic submarkets.
Home Highlights
Parking
No Info
Outdoor
No Info
A/C
Heating only
HOA
None
Price/Sqft
$380
Listed
180+ days ago
Home Details for 344 E 7th St
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MLS Status: Active Under Contract-No Show |
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Interior Details Basement: Unfinished |
Beds & Baths Number of Bedrooms: 3Number of Bathrooms: 2Number of Bathrooms (full): 2 |
Dimensions and Layout Living Area: 987 Square Feet |
Appliances & Utilities Utilities: Electricity Connected, Sewer Connected, Water ConnectedAppliances: NoneLaundry: None |
Heating & Cooling Heating: OilHas HeatingHeating Fuel: Oil |
Fireplace & Spa Spa: NoneNo FireplaceNo Spa |
Windows, Doors, Floors & Walls Flooring: VariesCommon Walls: No One Above |
Levels, Entrance, & Accessibility Stories: 1Levels: OneFloors: Varies |
View No View |
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Exterior Home Features Roof: Composition ShingleFencing: Back YardOther Structures: NoneExterior: NoneFoundation: Concrete Perimeter, Wood, OtherNo Private Pool |
Parking & Garage No CarportNo GarageNo Attached GarageParking: Alley Access |
Pool Pool: None |
Frontage Road Frontage: City StreetResponsible for Road Maintenance: Public Maintained RoadNot on Waterfront |
Water & Sewer Sewer: Public Sewer |
Farm & Range Not Allowed to Raise Horses |
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Cumulative Days on Market: 201Days on Market: 180+ |
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Year Built Year Built: 1926 |
Property Type / Style Property Type: ResidentialProperty Subtype: Single Family Residence |
Building Construction Materials: OtherNot a New Construction |
Property Information Parcel Number: 00723107 |
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Price List Price: $375,000Price Per Sqft: $380 |
Status Change & Dates Possession Timing: Close Of Escrow |
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Direction & Address City: RenoCommunity: Evans Northeast Addition |
School Information Elementary School: BoothJr High / Middle School: VaughnHigh School: Wooster |
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Listing Agent Listing ID: 250056343 |
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Building Area Building Area: 987 Square Feet |
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Not Senior Community |
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No HOA |
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Lot Area: 6969.6 sqft |
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Special Conditions: Other |
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Contingencies: Active Under Contract-No ShowListing Terms: Cash |
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BasementMls Number: 250056343Zillow Contingency Status: Under Contract |
Last check for updates: about 2 hours ago
Listing courtesy of Kimberly Wilford S.196689, (775) 451-3452
RE/MAX Gold
Source: NNRMLS, MLS#250056343
Also Listed on NNRMLS.
Price History for 344 E 7th St
| Date | Price | Event | Source |
|---|---|---|---|
| 11/25/2025 | $375,000 | Contingent | NNRMLS #250056343 |
| 11/16/2025 | $375,000 | PriceChange | NNRMLS #250056343 |
| 10/23/2025 | $425,000 | PriceChange | NNRMLS #250056343 |
| 09/26/2025 | $550,000 | Listed For Sale | NNRMLS #250056343 |
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Property Tax and Assessment
| Year | 2025 |
|---|---|
| Tax | $1,024 |
| Assessment | $184,693 |
Home facts updated by county records
Comparable Sales for 344 E 7th St
Address | Distance | Property Type | Sold Price | Sold Date | Bed | Bath | Sqft |
|---|---|---|---|---|---|---|---|
0.12 | Single-Family Home | $300,000 | 01/16/26 | 2 | 1 | 816 | |
0.32 | Single-Family Home | $355,000 | 12/10/25 | 3 | 1 | 1,100 | |
0.68 | Single-Family Home | $550,000 | 08/29/25 | 3 | 2 | 1,241 | |
0.72 | Single-Family Home | $405,000 | 05/16/25 | 3 | 2 | 1,080 | |
0.77 | Single-Family Home | $405,000 | 02/06/26 | 3 | 2 | 1,072 | |
0.54 | Single-Family Home | $310,000 | 10/10/25 | 2 | 1 | 984 | |
0.66 | Single-Family Home | $398,900 | 06/30/25 | 3 | 1 | 1,128 | |
0.64 | Single-Family Home | $400,000 | 03/20/26 | 3 | 1 | 1,160 |
Assigned Schools
These are the assigned schools for 344 E 7th St.
- E Otis Vaughn Middle School
- 6-8
- Public
- 554 Students
3/10GreatSchools RatingParent Rating AverageJust moved to town I wish my kids never attended here worst ever my kids never experience so much pointless drama that the staff act like they can’t control the staff in the office gave me a hard time about my daughter’s shot records when they could’ve easily called previous school to get them me and the old school had to do the footwork. It’s just ridiculous.Parent Review9mo ago - Earl Wooster High School
- 9-12
- Public
- 1338 Students
4/10GreatSchools RatingParent Rating AverageThe new Admin have bought in a (First 10 and last 10 extra assignment) for every class. On top of your normal class work and assignments. If you are representing your School for a Sport and miss this your grade immediately drops by 10 percent. No one knows why they are doing it. It lowers students GPA. And no study hall to make it up because they don't offer that.A friend of my Students grades dropped horribly because of this and failed numerous classes. My Student nearly failed also. Maybe to stop kids from skipping class but it punishes everyone. There is huge room for error and students grades dropping by huge percentages. They also lock bathrooms at the School. Which makes it hard for children to access bathrooms which is a basic human rights need. They have Awesome Sports Coaches and Teachers. And then there are the gangster kids. Unfortunately they are there. There were times when I felt unsafe. There are normal kids and IB kids also who are great.Parent Review1y ago - Libby C Booth Elementary School
- PK-5
- Public
- 321 Students
1/10GreatSchools RatingParent Rating AverageThis school is great! The teachers and staff truly care about students and my children have been getting a great education at this school. I could not be more happy about their achievement! Thank you Libby Booth!Parent Review10y ago 
Check out schools near 344 E 7th St.
Neighborhood Overview
Neighborhood stats provided by third party data sources.
What Locals Say about Downtown
At least 1 Trulia users voted on each feature.
100 % Say yards are well-kept
100 % Say it's walkable to restaurants
100 % Say there are sidewalks
100 % Say streets are well-lit
50 % Say kids play outside
50 % Say they plan to stay for at least 5 years
50 % Say there's wildlife
50 % Say neighbors are friendly
Learn more about our methodology.
LGBTQ Local Legal Protections
LGBTQ Local Legal Protections
Kimberly Wilford, RE/MAX Gold
Agent Phone: (775) 451-3452
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