Updated Duplex with Covered
For Sale
$169,900
1005 S German Ln, Conway, AR 72034
Residential, Traditional, Conway, AR
Property Size1,472 SF
Price / SF$115.42
Days on Market83
Property Features for 1005 S German Ln
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
3
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Laundry Room, Bathroom 2, Bathroom 1, Bedroom 2, Bedroom 1, Bathroom 3, Bedroom 3
Parking features
Carport
Patio and Porch features
Patio
Interior features
Washer Connection, Dryer Connection-Electric, Water Heater-Gas, Smoke Detector(s), Ceiling Fan(s), Walk-in Shower, Kit Counter-Formica
Exterior features
Patio, Partially Fenced, Outside Storage Area, Inground Pool, Guttering, Gazebo
Fencing
Partial
Fireplace
1
Appliances
Free-Standing Stove, Microwave, Dishwasher, Disposal, Pantry, Refrigerator-Stays, Ice Maker Connection
Subdivision
CARRIAGE COURTS
Lot features
Level, Wooded, Cleared, Extra Landscaping
Directions
Take Dave Ward Dr. west from I-40. Turn left on S. German Ln. Carriage Courts is located on right. Upon entry turn left passed entry sign. Parking lot #27 and #9.
Standard status
Active
Size
1,472 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
PT W1/2 SE, Apt 27/Bldg 2
Tax Annual Amount
1478
HOA Fee
$300 Monthly
Legal Description
PT W1/2 SE, Apt 27/Bldg 2
Amenities
private patio
laundry area
Building Details
Year built
1987
Floors in Building
2
Flooring type
Vinyl, Laminate
Roof type
Shingle
Architectural style
Other
Additional Structures
Storage, Gazebo
Listing Agency:
J.C. Thornton & Co., LLC
(501) 513-0505
Listed By:
Taleda McKee
(501) 472-5600
Added: Jun 18
Changed: Sep 3
Last Checked: Sep 8 at 5:06AM
MLS# 26024792
Copyright © 2026 Cooperative Arkansas Realtors Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,472-square-foot duplex includes three bedrooms, three bathrooms, an open floor plan, and a large laundry area. Interior features include vinyl and laminate flooring, a gas water heater, walk-in shower, ceiling fans, and connections for a washer and electric dryer. The kitchen is equipped with a stove, microwave, dishwasher, disposal, refrigerator, pantry, and ice maker connection. A fireplace, private patio, partial fencing, exterior storage, gazebo, and access to an inground pool add to the property’s physical features.
The property includes carport parking with a total of 3 parking spaces, including an additional covered space with storage. The roof was replaced in 2022, and the interior was repainted in 2024. The water heater was replaced in 2024. Built in 1987, the property is located one mile from UCA in Conway, Arkansas.
The property includes carport parking with a total of 3 parking spaces, including an additional covered space with storage. The roof was replaced in 2022, and the interior was repainted in 2024. The water heater was replaced in 2024. Built in 1987, the property is located one mile from UCA in Conway, Arkansas.
Key Highlights
- 1,472‑square‑foot duplex with three bedrooms and three bathrooms
- Open floor plan with a large laundry area and private patio
- Roof replaced in 2022; interior repainted and water heater replaced in 2024
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
$9,902
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
5.83%
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%
$198,040
$198.0K
Cap Rate 7%
$141,457
$141.5K
Cap Rate 9%
$110,022
$110.0K
Market Conditions
NOI Build-Up for 1,472 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
$15.0K $10.20/SF
− Vacancy
−$869 −$0.59/SF
EGI
$14.1K $9.61/SF
− OpEx
−$4.2K −$2.88/SF
NOI
$9.9K $6.73/SF
Area
Faulkner County, AR
Vacancy
5.79%
Lease Rate
$10.20 /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%
$198,040
Cap Rate 7%
$141,457
Cap Rate 9%
$110,022
Alternative Uses
Best Use
Multifamily LT 5
$141.5K
$123.8K – $165.0K
NOI $9,902 @ 7.0% cap · market cap 5.83%
Second Best
Apartment 5plus
$126.4K
$110.6K – $147.5K
NOI $8,849 @ 7.0% cap · market cap 5.21%
Theoretical Best
Office A
$335.7K
$293.8K – $391.7K
NOI $23,502 @ 7.0% cap · market cap 13.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
245
Businesses Nearby
Explore this area
Business Placement
Demographics for 72034, AR
47,873
Population
22,523
Households
2.1
Avg Household Size
33
Median Age
44%
College-Educated
94%
High-School Grad
47.9 sq mi
ZIP Area
999
Density / Sq Mi
$61,675
Median Household Income
$40,511
Median Earnings
$993
Median Rent
$250,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Three-bedroom layout with an open plan, private patio, storage, and recent roof and water-heater replacements.
Where is this duplex located?
The property is located at 1005 S German Ln Conway, AR.
What is the asking price?
The asking price for this property is $169,900.
What are key features of this property?
This property features: 1,472‑square‑foot duplex with three bedrooms and three bathrooms; Open floor plan with a large laundry area and private patio; Roof replaced in 2022; interior repainted and water heater replaced in 2024
