Duplex with European-Cottage Style
For Sale
$675,000
1607-1605 Park Street, Lowell, AR 72745
MULTI_FAMILY - Lowell, AR
Property Size3,135 SF
Lot Size0.14 Acres
Price / SF$215.31
Days on Market44
Property Features for 1607-1605 Park Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
5
Full bathrooms
4
Half bathrooms
1
Rooms
Bedroom 2, Bedroom 4, Bathroom 1, Bathroom 4, Bathroom 2, Bedroom 3, Bathroom 3, Bathroom 5, Bedroom 5, Bedroom 1
Parking features
Open, Garage
Security features
Security
Window features
Vinyl Frames
Patio and Porch features
Porch, Patio
Interior features
Attic, CeilingFans, CathedralCeilings, CentralVacuum, EatInKitchen, GraniteCounters, Pantry, ProgrammableThermostat, Storage, WalkInClosets
Exterior features
ConcreteDriveway
Fencing
Fenced, Privacy
Fireplace
1
Appliances
Dishwasher, ElectricRange, Disposal, GasWaterHeater, MicrowaveHoodFan, Microwave, Refrigerator, SmoothCooktop, SelfCleaningOven, Washer, EnergyStarQualifiedAppliances, PlumbedForIceMaker
Subdivision
Park Central Pud Ph 1 Lowell
Lot features
Central Business District, Cleared, City Lot, Landscaped, Level, Near Park, Subdivision
Elementary school district
Rogers
Middle school district
Rogers
High school district
Rogers
Directions
From I-49, take east on Pleasant Grove, Turn right on Park St, units are on the left.
Standard status
Active
APN
12-02929-000
Size
3,135 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Description
4/24/06 PLAT 2006-322 3/23/06 & CORRECTION PLAT 9/20/2018 2006-1123
Tax Annual Amount
2874
HOA Fee
$800 Annually
Legal Description
4/24/06 PLAT 2006-322 3/23/06 & CORRECTION PLAT 9/20/2018 2006-1123
Utilities
Heating system
Central, Natural Gas
Cooling system
Central Air, Electric
Building Details
Year built
2006
Floors in Building
1
Number of units
2
Flooring type
Carpet, Tile
Building materials
Frame, Rock, Stucco
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
Epique Realty
(501) 747-3624
Listed By:
Ana Vasquez · License #SA00085200
(479) 422-9383
Added: Jul 24
Changed: Aug 4
Last Checked: Sep 5 at 11:06AM
MLS# 1356637
Copyright © 2026 ArkansasONE MLS. 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.
Duplex offering two European-cottage style townhomes in the Park Central Villas community. The paired homes sit on a combined lot of approximately 0.28 acres and include 3,135 square feet. Built in 2006, the interior finishes and features include ceiling fans, cathedral ceilings, central vacuum, walk-in closets, programmable thermostat, granite counters, and storage. A fireplace is also included.
On the exterior, the property has a concrete driveway and includes porch and patio space. Parking is provided with a garage and open parking. Outdoor privacy is supported by privacy fencing and fenced yard areas.
The location places the property just minutes from I-49, with access to The Amp, shopping, dining, medical facilities, parks, and trails.
On the exterior, the property has a concrete driveway and includes porch and patio space. Parking is provided with a garage and open parking. Outdoor privacy is supported by privacy fencing and fenced yard areas.
The location places the property just minutes from I-49, with access to The Amp, shopping, dining, medical facilities, parks, and trails.
Key Highlights
- Two European‑cottage style townhomes in the Park Central Villas community
- Combined lot of approximately 0.28 acres
- 3,135 square feet
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
$28,615
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
4.24%
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%
$572,300
$572.3K
Cap Rate 7%
$408,786
$408.8K
Cap Rate 9%
$317,944
$317.9K
Market Conditions
NOI Build-Up for 3,135 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
$43.3K $13.80/SF
− Vacancy
−$2.4K −$0.76/SF
EGI
$40.9K $13.04/SF
− OpEx
−$12.3K −$3.91/SF
NOI
$28.6K $9.13/SF
Area
Benton County, AR
Vacancy
5.51%
Lease Rate
$13.80 /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%
$572,300
Cap Rate 7%
$408,786
Cap Rate 9%
$317,944
Alternative Uses
Best Use
Multifamily LT 5
$408.8K
$357.7K – $476.9K
NOI $28,615 @ 7.0% cap · market cap 4.24%
Second Best
Apartment 5plus
$364.8K
$319.2K – $425.6K
NOI $25,533 @ 7.0% cap · market cap 3.78%
Theoretical Best
Office A
$861.5K
$753.8K – $1.01M
NOI $60,306 @ 7.0% cap · market cap 8.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
80
Businesses Nearby
Explore this area
Business Placement
Demographics for 72745, AR
13,371
Population
5,324
Households
2.5
Avg Household Size
35
Median Age
26%
College-Educated
85%
High-School Grad
31.8 sq mi
ZIP Area
420
Density / Sq Mi
$88,958
Median Household Income
$49,144
Median Earnings
$1,119
Median Rent
$255,700
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 - Duplex featuring two European-cottage style townhomes with central air and natural gas central heat, plus fenced outdoor space.
Where is this duplex located?
The property is located at 1607-1605 Park Street Lowell, AR.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Two European‑cottage style townhomes in the Park Central Villas community; Combined lot of approximately 0.28 acres; 3,135 square feet
