New 12-Unit Apartment
For Sale
$2,400,000
3101 Olivia Court, Jonesboro, AR 72404
Multi-Family, Jonesboro, AR
Property Size14,616 SF
Price / SF$164.20
Days on Market78
Property Features for 3101 Olivia Court
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Bedrooms
30
Rooms
Bedroom 20, Bedroom 22, Bedroom 27, Bedroom 8, Bedroom 26, Bedroom 7, Bedroom 19, Bedroom 17, Bedroom 16, Bedroom 3, Bedroom 1, Bedroom 28, Bedroom 11, Bedroom 24, Bedroom 9, Bedroom 21, Bedroom 6, Bedroom 13, Bedroom 10, Bedroom 23, Bedroom 5, Bedroom 18, Bedroom 25, Bedroom 15, Bedroom 14, Bedroom 12, Bedroom 2, Bedroom 4, Bedroom 29, Bedroom 30
Interior features
Breakfast Bar, Ceiling Fan(s), Vaulted Ceiling(s)
Exterior features
Brick
Subdivision
Brendar Village
Lot features
Landscaped, Level
Elementary school
Nettleton
High school
Nettleton
Standard status
Active
APN
01-134041-14500
Size
14,616 SF
Taxes and HOA fees
Tax Description
3101 Units 1-4, 3021 Units 1-4, 3017 Units 1-4 in Brendar Village HPR; Craighead County, Jonesboro
Legal Description
3101 Units 1-4, 3021 Units 1-4, 3017 Units 1-4 in Brendar Village HPR; Craighead County, Jonesboro
Utilities
Heating system
Central
Cooling system
Central Air
Amenities
luxury vinyl plank flooring
vaulted ceilings
granite countertops
spacious open-concept living areas
tile showers in the primary suites
quality cabinetry
modern finishes throughout
Building Details
Floors in Building
1
Number of units
12
Flooring type
Vinyl
Roof type
Shingle
Architectural style
Other
Listing Agency:
Coldwell Banker Village Communities Inc · Coldwell Banker Real Estate
(870) 935-7800
Listed By:
Kevin Kercheval · License #PB00056142
(870) 926-3225
Added: Jun 18
Changed: Aug 19
Last Checked: Sep 3 at 1:06AM
MLS# 10130460
Copyright © 2026 Northeast Arkansas 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.
Brendar Village is a 12-unit apartment development arranged across three quadplex buildings in Jonesboro, Arkansas. The completed condominium residences include six two-bedroom, two-bath units and six three-bedroom, two-bath units. Each home has a covered two-car carport, open-concept living space, vaulted ceilings, granite countertops, quality cabinetry, luxury vinyl plank flooring, and tile showers in the primary suite. Central heating and cooling serve the units, with brick exteriors and shingle roofs throughout.
All residences are vacant, have never been occupied, and are ready for leasing. The condominium ownership structure supports operation as a multifamily rental property while allowing individual unit sales as a future disposition option. Condominium association dues include blanket exterior insurance and common-area maintenance, reducing the owner's direct responsibility for those items. The development contains approximately 14,616 square feet in total.
All residences are vacant, have never been occupied, and are ready for leasing. The condominium ownership structure supports operation as a multifamily rental property while allowing individual unit sales as a future disposition option. Condominium association dues include blanket exterior insurance and common-area maintenance, reducing the owner's direct responsibility for those items. The development contains approximately 14,616 square feet in total.
Key Highlights
- 12 completed condominium units in three quadplex buildings
- Unit mix includes six 3‑bedroom, 2‑bath units and six 2‑bedroom, 2‑bath units
- 3‑bedroom units offer approximately 1,220 square feet; 2‑bedroom units offer approximately 1,216 square feet
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
$87,677
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
3.65%
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%
$1,753,540
$1.8M
Cap Rate 7%
$1,252,529
$1.3M
Cap Rate 9%
$974,189
$974.2K
Market Conditions
NOI Build-Up for 14,616 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
$170.1K $11.64/SF
− Vacancy
−$10.7K −$0.73/SF
EGI
$159.4K $10.91/SF
− OpEx
−$71.7K −$4.91/SF
NOI
$87.7K $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%
$1,753,540
Cap Rate 7%
$1,252,529
Cap Rate 9%
$974,189
Alternative Uses
Best Use
Apartment 5plus
$1.25M
$1.10M – $1.46M
NOI $87,677 @ 7.0% cap · market cap 3.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.56M
$2.24M – $2.99M
NOI $179,122 @ 7.0% cap · market cap 7.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - New condominium residences offer modern finishes, covered carports, and immediate leasing availability.
Where is this apartment building located?
The property is located at 3101 Olivia Court Jonesboro, AR.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: 12 completed condominium units in three quadplex buildings; Unit mix includes six 3‑bedroom, 2‑bath units and six 2‑bedroom, 2‑bath units; 3‑bedroom units offer approximately 1,220 square feet; 2‑bedroom units offer approximately 1,216 square feet
