Four-Unit
For Sale
$319,000
1700 S Carthage ST, Fort Smith, AR 72901
Multifamily, Fort Smith, AR
Property Size3,965 SF
Lot Size0.36 Acres
Price / SF$80.45
Days on Market242
Property Features for 1700 S Carthage ST
General Information
Property type
Residential Multi Family
Property subtype
Other
Subdivision
Coleman Place
Lot features
Cleared, Corner
Elementary school district
Fort Smith
Middle school district
Fort Smith
High school district
Fort Smith
Directions
Head northwest on Rogers Turn left onto Hendricks Blvd Turn right onto S S St Turn left onto Jenny Lind Rd Turn right onto Boston St Turn left onto S 17th St 361 Ft Complex is tucked in the corner on S. Carthage on the right
Standard status
Active
APN
11541-0036-00000-01
Size
3,965 SF
Lot size
0.36 Acres
Taxes and HOA fees
Tax Description
N 120' LT 36
Tax Annual Amount
1645
Legal Description
N 120' LT 36
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Building Details
Floors in Building
2
Number of units
4
Flooring type
Vinyl
Roof type
Shingle
Listing Agency:
AROK Realty, LLC
(479) 719-1234
Listed By:
Team Salsbury
(479) 461-3782
Added: Feb 4
Changed: Oct 2
Last Checked: Oct 4 at 7:06PM
MLS# 1086806
Copyright © 2026 Western River Valley Board of REALTORS®. 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 four-unit quadplex contains 3,965 square feet across four fully leased residences. The property includes vinyl flooring, central heating, electric heating, central air, and electric cooling. A shingle roof is identified, with a June 2026 replacement date noted in the property information.
The asset sits on a 0.36-acre parcel at 1700 S Carthage ST in Fort Smith, Arkansas. The property information also places it near shopping, schools, and major amenities, with parking available for residents.
Each unit is described as having a functional layout and living space, supporting the existing multifamily configuration. The fully leased occupancy and four-unit setup provide a clear income-property profile for an investor evaluating a small residential multifamily asset.
The asset sits on a 0.36-acre parcel at 1700 S Carthage ST in Fort Smith, Arkansas. The property information also places it near shopping, schools, and major amenities, with parking available for residents.
Each unit is described as having a functional layout and living space, supporting the existing multifamily configuration. The fully leased occupancy and four-unit setup provide a clear income-property profile for an investor evaluating a small residential multifamily asset.
Key Highlights
- Four fully leased residential units
- 3,965 square feet of property area
- 0.36‑acre parcel
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
$26,294
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
8.24%
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%
$525,880
$525.9K
Cap Rate 7%
$375,629
$375.6K
Cap Rate 9%
$292,156
$292.2K
Market Conditions
NOI Build-Up for 3,965 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
$40.4K $10.20/SF
− Vacancy
−$2.9K −$0.73/SF
EGI
$37.6K $9.47/SF
− OpEx
−$11.3K −$2.84/SF
NOI
$26.3K $6.63/SF
Area
Sebastian County, AR
Vacancy
7.12%
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%
$525,880
Cap Rate 7%
$375,629
Cap Rate 9%
$292,156
Alternative Uses
Best Use
Multifamily LT 5
$375.6K
$328.7K – $438.2K
NOI $26,294 @ 7.0% cap · market cap 8.24%
Second Best
Apartment 5plus
$335.4K
$293.5K – $391.3K
NOI $23,480 @ 7.0% cap · market cap 7.36%
Theoretical Best
Healthcare Medical
$843.6K
$738.2K – $984.2K
NOI $59,052 @ 7.0% cap · market cap 18.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
364
Businesses Nearby
Explore this area
Business Placement
Demographics for 72901, AR
20,973
Population
10,337
Households
2
Avg Household Size
37
Median Age
21%
College-Educated
81%
High-School Grad
8.7 sq mi
ZIP Area
2,411
Density / Sq Mi
$42,568
Median Household Income
$30,582
Median Earnings
$837
Median Rent
$113,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully leased residential income property with vinyl flooring, central systems, and electric heating and cooling.
Where is this quadplex located?
The property is located at 1700 S Carthage ST Fort Smith, AR.
What is the asking price?
The asking price for this property is $319,000.
What are key features of this property?
This property features: Four fully leased residential units; 3,965 square feet of property area; 0.36‑acre parcel
