Three-Unit Apartment
For Sale
$650,000
216 E Spring Street, Fayetteville, AR 72701
Residential, Fayetteville, AR
Property Size3,072 SF
Lot Size0.11 Acres
Price / SF$211.59
Days on Market144
Property Features for 216 E Spring Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
Multi Family
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Basement, Bathroom 1, Bedroom 1, Bedroom 3, Bedroom 2, Bathroom 2, Bathroom 3
Parking features
Assigned
Exterior features
ConcreteDriveway
Appliances
Dryer, ElectricWaterHeater, Refrigerator, Washer
Subdivision
Valley View Sub
Lot features
Central Business District, City Lot, Near Park
Elementary school district
Fayetteville
Middle school district
Fayetteville
High school district
Fayetteville
Directions
From North College, Turn East on E Spring Street. 216 E Spring will be down the hill on your left.
Standard status
Active
APN
765-11663-000
Size
3,072 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Description
LOT 8 BLOCK 2
Tax Annual Amount
4568
Legal Description
LOT 8 BLOCK 2
Utilities
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Building Details
Year built
1941
Floors in Building
3
Number of units
3
Flooring type
Concrete, Wood, Carpet
Building materials
WoodSiding
Roof type
Asphalt, Shingle
Listing Agency:
Navigate Real Estate
Listed By:
Jackson Williams · License #PB00059990
(479) 841-3639
Added: May 6
Changed: Sep 16
Last Checked: Sep 26 at 9:06AM
MLS# 1342931
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.
This 3,072-square-foot triplex was built in 1941 on a 0.1113-acre lot and contains three separate residential units. The property includes large-room layouts, wood, concrete, and carpet flooring, wood siding, asphalt shingle roofing, central electric heating and cooling, and assigned parking supported by a concrete driveway. Appliances include refrigerators, washers, dryers, and electric water heaters.
Located at 216 E Spring Street in Fayetteville, the property sits one block south of N College and three blocks from Dickson Street and the Fayetteville Square. All three units are tenant occupied and currently leased. Interior access is available after a pre-approved contract is in place, with instructions to avoid disturbing residents.
Located at 216 E Spring Street in Fayetteville, the property sits one block south of N College and three blocks from Dickson Street and the Fayetteville Square. All three units are tenant occupied and currently leased. Interior access is available after a pre-approved contract is in place, with instructions to avoid disturbing residents.
Key Highlights
- Three‑unit apartment property totaling 3,072 square feet
- 0.1113‑acre lot at 216 E Spring Street, Fayetteville, AR 72701
- Built in 1941 with wood siding and asphalt shingle roofing
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
$27,646
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
4.25%
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%
$552,920
$552.9K
Cap Rate 7%
$394,943
$394.9K
Cap Rate 9%
$307,178
$307.2K
Market Conditions
NOI Build-Up for 3,072 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
$42.4K $13.80/SF
− Vacancy
−$2.9K −$0.94/SF
EGI
$39.5K $12.86/SF
− OpEx
−$11.8K −$3.86/SF
NOI
$27.6K $9.00/SF
Area
Washington County, AR
Vacancy
6.84%
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%
$552,920
Cap Rate 7%
$394,943
Cap Rate 9%
$307,178
Alternative Uses
Best Use
Multifamily LT 5
$394.9K
$345.6K – $460.8K
NOI $27,646 @ 7.0% cap · market cap 4.25%
Second Best
Apartment 5plus
$349.4K
$305.8K – $407.7K
NOI $24,460 @ 7.0% cap · market cap 3.76%
Theoretical Best
Office A
$824.6K
$721.5K – $962.0K
NOI $57,720 @ 7.0% cap · market cap 8.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,901
Businesses Nearby
Explore this area
Business Placement
Demographics for 72701, AR
48,269
Population
20,057
Households
2.4
Avg Household Size
28
Median Age
42%
College-Educated
93%
High-School Grad
126.0 sq mi
ZIP Area
383
Density / Sq Mi
$50,413
Median Household Income
$27,305
Median Earnings
$973
Median Rent
$323,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Currently leased residences with assigned parking and a walkable downtown Fayetteville setting.
Where is this triplex located?
The property is located at 216 E Spring Street Fayetteville, AR.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Three‑unit apartment property totaling 3,072 square feet; 0.1113‑acre lot at 216 E Spring Street, Fayetteville, AR 72701; Built in 1941 with wood siding and asphalt shingle roofing
