Updated Triplex with Mixed
For Sale
$650,000
372 Erin Place, Springdale, AR 72764
Residential, Springdale, AR
Property Size5,248 SF
Lot Size0.34 Acres
Price / SF$123.86
Days on Market75
Property Features for 372 Erin Place
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Exterior features
ConcreteDriveway
Appliances
ElectricWaterHeater
Subdivision
Mathias Mixed Use Sub
Lot features
Cleared, Cul De Sac, Near Park
Directions
Heading east on emma in springdale make a right one erin place unit is all the way down on the right.
Standard status
Active
APN
815-37343-000
Size
5,248 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Description
Lot 008 Mathias mixed use S/D Washington Co. Ar,
Tax Annual Amount
3097
Legal Description
Lot 008 Mathias mixed use S/D Washington Co. Ar,
Utilities
Heating system
Electric (Heating)
Cooling system
Electric
Building Details
Year built
2004
Floors in Building
2
Number of units
3
Flooring type
Tile, Carpet, Laminate
Building materials
VinylSiding
Roof type
Shingle
Listing Agency:
NextHome NWA Pro Realty
(479) 418-3000
Listed By:
Hartwick & Associates
(479) 866-0655
Added: Jun 25
Changed: Sep 5
Last Checked: Sep 7 at 10:06AM
MLS# 1352278
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 2004 triplex at 372 Erin Place provides 5,248 square feet of residential space on a 0.337-acre lot. The property includes three units, with one recently updated. Current occupancy includes one unit operated as an Airbnb and two units leased to long-term tenants, creating a mix of rental arrangements within the building.
Exterior and building features include vinyl siding, a shingle roof, and a concrete driveway. Interior finishes include tile, carpet, and laminate flooring. The property is equipped with electric heating, electric cooling, and an electric water heater. Its Springdale location places it near shopping, dining, schools, and major commuter routes.
Exterior and building features include vinyl siding, a shingle roof, and a concrete driveway. Interior finishes include tile, carpet, and laminate flooring. The property is equipped with electric heating, electric cooling, and an electric water heater. Its Springdale location places it near shopping, dining, schools, and major commuter routes.
Key Highlights
- Triplex at 372 Erin Place, Springdale, AR 72764
- 5,248 square feet on a 0.337‑acre lot
- Built in 2004
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
$47,228
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
7.27%
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%
$944,560
$944.6K
Cap Rate 7%
$674,686
$674.7K
Cap Rate 9%
$524,756
$524.8K
Market Conditions
NOI Build-Up for 5,248 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
$72.4K $13.80/SF
− Vacancy
−$5.0K −$0.94/SF
EGI
$67.5K $12.86/SF
− OpEx
−$20.2K −$3.86/SF
NOI
$47.2K $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%
$944,560
Cap Rate 7%
$674,686
Cap Rate 9%
$524,756
Alternative Uses
Best Use
Multifamily LT 5
$674.7K
$590.4K – $787.1K
NOI $47,228 @ 7.0% cap · market cap 7.27%
Second Best
Apartment 5plus
$596.9K
$522.3K – $696.4K
NOI $41,786 @ 7.0% cap · market cap 6.43%
Theoretical Best
Office A
$1.41M
$1.23M – $1.64M
NOI $98,605 @ 7.0% cap · market cap 15.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
195
Businesses Nearby
Explore this area
Business Placement
Demographics for 72764, AR
60,786
Population
20,781
Households
2.9
Avg Household Size
30
Median Age
20%
College-Educated
72%
High-School Grad
66.2 sq mi
ZIP Area
918
Density / Sq Mi
$61,569
Median Household Income
$34,552
Median Earnings
$984
Median Rent
$226,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit property combines an updated residence with an Airbnb unit and two longer-term rental arrangements.
Where is this triplex located?
The property is located at 372 Erin Place Springdale, 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: Triplex at 372 Erin Place, Springdale, AR 72764; 5,248 square feet on a 0.337‑acre lot; Built in 2004
