New Three-Bedroom Residential
For Sale
$198,900
3021 Olivia Court, Jonesboro, AR 72404
Residential, Traditional, Jonesboro, AR
Property Size1,220 SF
Price / SF$163.03
Days on Market11
Property Features for 3021 Olivia Court
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 1, Bedroom 2, Bathroom 1, Laundry Room, Bedroom 3
Parking features
Carport
Patio and Porch features
Patio
Interior features
Ceiling Fan(s)
Exterior features
Covered Patio
Appliances
Microwave, Electric Range, Dishwasher
Subdivision
Not In List
Lot features
Level, Extra Landscaping
Elementary school
NETTLETON
Middle school
NETTLETON
High school
NETTLETON
Directions
South on Stadium, Left on Colony, Left on Antosh Circle to Olivia.
Standard status
Active
APN
01-134041-14100
Size
1,220 SF
Taxes and HOA fees
Tax Description
3021 Olivia Unit 1
HOA Fee
$150 Monthly
Legal Description
3021 Olivia Unit 1
Building Details
Floors in Building
1
Flooring type
Vinyl
Roof type
Composition
Architectural style
Other
Listing Agency:
Coldwell Banker Village Communities
(870) 935-7800
Listed By:
Kevin Kercheval · License #PB00056142
(870) 926-3225
Added: Aug 24
Changed: Aug 31
Last Checked: Sep 3 at 8:06AM
MLS# 26035495
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.
Investment Insights
Based on property information with market context.
This brand-new residential income property at 3021 Olivia Court is a never-occupied condominium with 1,220 square feet, three bedrooms, and two bathrooms. The interior includes an open living arrangement, vaulted ceilings, vinyl flooring, granite countertops, quality cabinetry, and contemporary finishes. The primary suite features a tiled shower, while a dedicated laundry room supports daily functionality.
Exterior features include a covered patio and covered two-car carport. The condo is equipped with a microwave, electric range, and dishwasher, and it has composition roofing. Its configuration supports either owner occupancy or use as a residential investment property.
Exterior features include a covered patio and covered two-car carport. The condo is equipped with a microwave, electric range, and dishwasher, and it has composition roofing. Its configuration supports either owner occupancy or use as a residential investment property.
Key Highlights
- Brand‑new, never‑occupied condominium at 3021 Olivia Court
- 1,220 square feet with 3 bedrooms and 2 bathrooms
- Open‑concept interior with vaulted ceilings and vinyl flooring
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
$7,318
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
3.68%
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%
$146,360
$146.4K
Cap Rate 7%
$104,543
$104.5K
Cap Rate 9%
$81,311
$81.3K
Market Conditions
NOI Build-Up for 1,220 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
$14.2K $11.64/SF
− Vacancy
−$895 −$0.73/SF
EGI
$13.3K $10.91/SF
− OpEx
−$6.0K −$4.91/SF
NOI
$7.3K $6.00/SF
Area
Craighead County, AR
Vacancy
6.30%
Lease Rate
$11.64 /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%
$146,360
Cap Rate 7%
$104,543
Cap Rate 9%
$81,311
Alternative Uses
Best Use
Apartment 5plus
$104.5K
$91.5K – $122.0K
NOI $7,318 @ 7.0% cap · market cap 3.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$213.6K
$186.9K – $249.2K
NOI $14,951 @ 7.0% cap · market cap 7.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
161
Businesses Nearby
Explore this area
Business Placement
Demographics for 72404, AR
29,344
Population
12,518
Households
2.3
Avg Household Size
35
Median Age
34%
College-Educated
93%
High-School Grad
128.0 sq mi
ZIP Area
229
Density / Sq Mi
$67,000
Median Household Income
$40,373
Median Earnings
$938
Median Rent
$236,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Brand-new condo with two baths, vaulted ceilings, covered parking, and updated interior finishes.
Where is this residential income property located?
The property is located at 3021 Olivia Court Jonesboro, AR.
What is the asking price?
The asking price for this property is $198,900.
What are key features of this property?
This property features: Brand‑new, never‑occupied condominium at 3021 Olivia Court; 1,220 square feet with 3 bedrooms and 2 bathrooms; Open‑concept interior with vaulted ceilings and vinyl flooring
