Six-Unit Apartment
For Sale
$299,900
3811 E Highland, Jonesboro, AR 72401
Multi-Family, Jonesboro, AR
Property Size3,045 SF
Lot Size0.19 Acres
Price / SF$98.49
Days on Market142
Property Features for 3811 E Highland
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Bedrooms
6
Rooms
Bedroom 3, Bedroom 1, Bedroom 5, Bedroom 2, Bedroom 6, Bedroom 4
Elementary school
Nettleton
High school
Nettleton
Subdivision
P
Standard status
Active
APN
01-144272-12300
Size
3,045 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Description
THORNES ADD PT W1/2 LOT 3
Legal Description
THORNES ADD PT W1/2 LOT 3
Utilities
Cooling system
Electric
Building Details
Floors in Building
1
Number of units
6
Listing Agency:
Jonesboro Realty Company
(870) 243-3993
Listed By:
Josh Olson · License #00058768
(187) 024-3399
Added: Apr 20
Changed: Sep 8
Last Checked: Sep 8 at 8:06PM
MLS# 10129156
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.
This six-unit apartment building contains 3,045 square feet on a 0.19-acre parcel. Each unit is configured with one bedroom and one bathroom, creating a consistent layout across the property. Electric cooling is installed throughout the building.
The property is located at 3811 E Highland in Jonesboro, Arkansas, within ZIP Code 72401. Its apartment configuration and uniform unit mix provide a straightforward multifamily asset profile.
The property is located at 3811 E Highland in Jonesboro, Arkansas, within ZIP Code 72401. Its apartment configuration and uniform unit mix provide a straightforward multifamily asset profile.
Key Highlights
- Six‑unit apartment building
- Each unit includes 1 bedroom and 1 bathroom
- 3,045 square feet of building area
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
$18,266
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
6.09%
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%
$365,320
$365.3K
Cap Rate 7%
$260,943
$260.9K
Cap Rate 9%
$202,956
$203.0K
Market Conditions
NOI Build-Up for 3,045 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
$35.4K $11.64/SF
− Vacancy
−$2.2K −$0.73/SF
EGI
$33.2K $10.91/SF
− OpEx
−$14.9K −$4.91/SF
NOI
$18.3K $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%
$365,320
Cap Rate 7%
$260,943
Cap Rate 9%
$202,956
Alternative Uses
Best Use
Apartment 5plus
$260.9K
$228.3K – $304.4K
NOI $18,266 @ 7.0% cap · market cap 6.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$533.1K
$466.5K – $622.0K
NOI $37,317 @ 7.0% cap · market cap 12.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
420
Businesses Nearby
Explore this area
Business Placement
Demographics for 72401, AR
43,127
Population
19,328
Households
2.2
Avg Household Size
33
Median Age
23%
College-Educated
89%
High-School Grad
88.5 sq mi
ZIP Area
487
Density / Sq Mi
$43,412
Median Household Income
$32,970
Median Earnings
$897
Median Rent
$185,400
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 - One-bedroom, one-bath apartment units with electric cooling serve a compact multifamily property.
Where is this apartment building located?
The property is located at 3811 E Highland Jonesboro, AR.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Six‑unit apartment building; Each unit includes 1 bedroom and 1 bathroom; 3,045 square feet of building area
