Two-Cottage Multifamily
For Sale
$150,000
Pending
24 22nd ST, Van Buren, AR 72956
Multifamily, Van Buren, AR
Property Size960 SF
Lot Size0.17 Acres
Days on Market1307
Property Features for 24 22nd ST
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Parking features
Assigned
Subdivision
Smith
Lot features
In Subdivision
Directions
Turn from Kibler Street onto S. 22nd Street
Standard status
Pending
APN
700-06735-000
Size
960 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Description
PER DOC#2017007215 FILED 8/4/2017: LOT 22 SMITH ADDITION TO THE CITY OF VAN BUREN, CRAWFORD COUNTY, ARKANSAS, ACCORDING TO SU
Tax Annual Amount
782
Legal Description
PER DOC#2017007215 FILED 8/4/2017: LOT 22 SMITH ADDITION TO THE CITY OF VAN BUREN, CRAWFORD COUNTY, ARKANSAS, ACCORDING TO SU
Utilities
Heating system
Electric (Heating)
Cooling system
Electric
Building Details
Year built
2017
Floors in Building
1
Number of units
2
Flooring type
Tile - Ceramic
Roof type
Shingle
Listing Agency:
Harmon Real Estate Company
(479) 546-0109
Listed By:
Joshua Harmon · License #PB00080746
(479) 719-0344
Added: Mar 1, 2023
Changed: Sep 5
Last Checked: Sep 28 at 5:06AM
MLS# 1063583
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 2017 multifamily property consists of two separate cottages totaling 960 square feet on a 0.17-acre parcel. The detached configuration avoids shared walls between residences, while ceramic tile flooring and shingle roofing provide established building finishes. Each cottage is served by electric heating and cooling, and assigned parking is included.
The property is located in Van Buren, Arkansas, within Crawford County. Water service is paid by the owner, while residents pay their own electric service. The package is offered as a for-sale multifamily asset with two individual cottage residences.
The property is located in Van Buren, Arkansas, within Crawford County. Water service is paid by the owner, while residents pay their own electric service. The package is offered as a for-sale multifamily asset with two individual cottage residences.
Key Highlights
- Two detached cottage residences totaling 960 square feet
- 0.17‑acre parcel in Van Buren, AR 72956
- Built in 2017 with 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
$5,905
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
3.94%
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%
$118,100
$118.1K
Cap Rate 7%
$84,357
$84.4K
Cap Rate 9%
$65,611
$65.6K
Market Conditions
NOI Build-Up for 960 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
$11.5K $12.00/SF
− Vacancy
−$783 −$0.82/SF
EGI
$10.7K $11.18/SF
− OpEx
−$4.8K −$5.03/SF
NOI
$5.9K $6.15/SF
Area
Crawford County, AR
Vacancy
6.80%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
45.00%
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%
$118,100
Cap Rate 7%
$84,357
Cap Rate 9%
$65,611
Alternative Uses
Best Use
Apartment 5plus
$84.4K
$73.8K – $98.4K
NOI $5,905 @ 7.0% cap · market cap 3.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$184.1K
$161.1K – $214.7K
NOI $12,884 @ 7.0% cap · market cap 8.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
433
Businesses Nearby
Explore this area
Business Placement
Demographics for 72956, AR
33,870
Population
14,119
Households
2.4
Avg Household Size
39
Median Age
19%
College-Educated
87%
High-School Grad
103.8 sq mi
ZIP Area
326
Density / Sq Mi
$60,387
Median Household Income
$33,894
Median Earnings
$825
Median Rent
$177,100
Median Home Value
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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?
Multifamily property - Separate cottage residences offer a compact rental configuration with assigned parking and electric systems.
Where is this multifamily property located?
The property is located at 24 22nd ST Van Buren, AR.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: Two detached cottage residences totaling 960 square feet; 0.17‑acre parcel in Van Buren, AR 72956; Built in 2017 with shingle roofing
