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    272 Highway 31 Romance, AR 72136

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    Sponsored
    For Sale
    $929,000

    Traditional, Agriculture/Farm/Ranch - Romance, AR

    Type:Farm
    Property size:
    1,996 SF
    Lot size:
    104.00 Acres
    Days on Market:
    40
    Last Refresh:
    Mar 11 at 4:06 am

    Property Features for 272 Highway 31

    General Information

    Property type
    Residential
    Property subtype
    Farm
    Standard status
    Active
    Rooms
    Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Great Room
    Bedrooms
    3
    Bathrooms
    2
    Parking
    2
    Parking features
    Garage
    Patio and Porch features
    Deck
    Exterior features
    Deck, Storm Cellar, Shop, Cross-fenced, Barns/Buildings, Livestock Allowed, Stock Pond, Cattle, Horses
    Fencing
    Cross Fenced, Fenced
    Appliances
    Refrigerator
    Size
    1,996 SF
    Lot size
    104.00 Acres

    Utilities

    Heating system
    Central, Electric (Heating)
    Cooling system
    Central Air, Electric

    Building Details

    Year built
    1967
    Floors in Building
    1
    Flooring type
    Vinyl
    Building materials
    Brick
    Roof type
    Composition
    Architectural style
    New Traditional
    Additional Structures
    Barn(s)

    We can help!

    Listing Contact
    Luke Cullins

    Habitat Land Company (870) 830-5263

    Listing agent Luke Cullins (870) 830-5263

    Listing date Jan 30, 2026

    MLS# 25041318 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Romance Homestead: Farm and Ranch

    Located less than one mile from Hwy. 5, this property offers paved road frontage on both sides and excellent accessibility. It is 11 miles from Hwy. 64 at El Paso, 37 miles from Conway, and 37 miles from North Little Rock. The property includes a remodeled 3-bedroom, 2-bath home featuring a new configuration and floor plan with a fresh, modern interior. Exterior updates include new paint, a back deck, and landscaping, making the property move-in ready. The homestead includes a large shop, a barn with working pens, and a storm shelter. The pasture is fully fenced and cross-fenced, suitable for cattle or horses. There are two ponds, one in the open pasture and another in mature pines. The land consists of open pasture used for hay production, a block of mature pine trees, and a hardwood hillside offering scenic southern vista views. With approximately one mile of paved road frontage, access and convenience are exceptional. Wildlife enthusiasts will find opportunities for whitetail deer, wild turkey, small game, and fishing. The property spans 104 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Farms

    Suggested Use

    Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Romance
    County
    White
    State
    Arkansas
    Longitude
    -92.05244
    Latitude
    35.239319

    FAQs

    What type of property is this?
    Farm - Remodeled home, pastures, ponds, and excellent accessibility near Hwy. 5.
    Where is this farm located?
    The property is located at 272 Highway 31 Romance, AR.
    What is the asking price?
    The asking price for this property is $929,000.
    What are key features of this property?
    This property features: - Completely remodeled 3-bedroom, 2-bath home with a new configuration, floor plan, and modern interior; move-in ready.; - Homestead setup with large shop, barn with working pens, fully fenced and cross-fenced pasture suitable for cattle or horses, and storm shelter.; - Excellent accessibility with paved road frontage on two sides, less than one mile from Hwy. 5, and convenient proximity to multiple cities.
    (501) 593-8009
    Request Owner's contact information
    272 Highway 31 Romance, AR 72136
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    Romance, AR 72136
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    272 Highway 31 Romance, AR 72136
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    We can help!
    Listing Contact
    Luke Cullins
    (501) 593-8009 (870) 830-5263
    Learn more
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