Contemporary Five-Unit Townhome-Style
For Sale
$1,734,480
450-490 Jasper Road, Centerton, AR 72719
MULTI_FAMILY - Contemporary - Centerton, AR
Property Size7,982 SF
Lot Size0.46 Acres
Price / SF$217.30
Days on Market29
Property Features for 450-490 Jasper Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Bedrooms
15
Bathrooms
15
Full bathrooms
10
Half bathrooms
5
Rooms
Bedroom 14, Bathroom 11, Bedroom 2, Bedroom 9, Bathroom 7, Bedroom 3, Bedroom 10, Bedroom 7, Bathroom 9, Bathroom 13, Bedroom 4, Bathroom 3, Bedroom 8, Bathroom 8, Bathroom 10, Bathroom 12, Bathroom 1, Bathroom 15, Bathroom 14, Bedroom 1, Bedroom 11, Bedroom 5, Bathroom 6, Bathroom 4, Bedroom 12, Bedroom 6, Bedroom 13, Bedroom 15, Bathroom 5, Bathroom 2
Parking features
Open, Garage
Patio and Porch features
Patio, Porch
Exterior features
ConcreteDriveway
Fireplace
1
Appliances
Dishwasher, ElectricWaterHeater, Disposal, GasOven, GasRange, Microwave, RangeHood
Subdivision
Crystal Cove Phase II
Lot features
Cleared, Level, Near Park, Subdivision
Directions
From HWY 279, turn North onto Keller Rd. Left on Lapis Ave., Right on Jasper Ave., property is on Right.
Standard status
Active
APN
06-09293-000
Size
7,982 SF
Lot size
0.46 Acres
Taxes and HOA fees
Tax Description
PLAT 3/28/2024 L202415156 CRYSTAL COVE PH II-CENTERTON OF 3/28/2024 L202415156 (AKA CRYSTAL COVE HORIZONTAL PROPERTY REGIME-MASTER DEED 3/28/2024 L202415158 & AMENDED MASTER DEED 5/14/2024 L202424714(BYLAWS EXHIBIT C PG 36)-SEE ADMIN NTS REGARDING
Tax Annual Amount
21472
Legal Description
PLAT 3/28/2024 L202415156 CRYSTAL COVE PH II-CENTERTON OF 3/28/2024 L202415156 (AKA CRYSTAL COVE HORIZONTAL PROPERTY REGIME-MASTER DEED 3/28/2024 L202415158 & AMENDED MASTER DEED 5/14/2024 L202424714(BYLAWS EXHIBIT C PG 36)-SEE ADMIN NTS REGARDING
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Central
Cooling system
Central Air, Electric
Water source
Public
Amenities
covered patio
private backyard
electric fireplace
vaulted ceilings
open-concept living area
primary suite on main level
loft-style overlook
Building Details
Year built
2026
Floors in Building
2
Number of units
5
Flooring type
Carpet, Tile
Building materials
Brick, Concrete
Roof type
Shingle
Architectural style
Contemporary
Listing Agency:
Lone Rock Realty
(479) 777-3379
Listed By:
Colley Bailey · License #PB00076160
(479) 856-9422
Added: Jul 17
Changed: Aug 4
Last Checked: Aug 13 at 11:06PM
MLS# 1355721
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.
Introducing Crystal Cove Townhomes, a new-construction five-unit townhome-style multifamily designed for strong rental appeal. The property is currently under construction and will total 7,982 square feet on 0.46 acres, built in a contemporary architectural style with brick and concrete exterior materials.
Each unit features approximately 1,606 square feet with three bedrooms and 2.5 baths, including a primary suite on the main level. Interior layouts offer open-concept living with vaulted ceilings, plus an electric fireplace. Upstairs provides two additional bedrooms, a full bath, and a loft-style overlook. Every unit includes a covered patio and private backyard space.
Additional practical details include central heating with natural gas and central air with electric cooling, a shingle roof, and public utilities with public water and public sewer. Parking is provided with a mix of garage and open spaces, and the property includes a concrete driveway. The build is scheduled for a 2026 year built, with electric water heater and in-unit appliances including dishwasher, disposal, microwave, range hood, gas range, and gas oven.
Each unit features approximately 1,606 square feet with three bedrooms and 2.5 baths, including a primary suite on the main level. Interior layouts offer open-concept living with vaulted ceilings, plus an electric fireplace. Upstairs provides two additional bedrooms, a full bath, and a loft-style overlook. Every unit includes a covered patio and private backyard space.
Additional practical details include central heating with natural gas and central air with electric cooling, a shingle roof, and public utilities with public water and public sewer. Parking is provided with a mix of garage and open spaces, and the property includes a concrete driveway. The build is scheduled for a 2026 year built, with electric water heater and in-unit appliances including dishwasher, disposal, microwave, range hood, gas range, and gas oven.
Key Highlights
- 0.46‑acre site totaling 7,982 SF for a five‑unit townhome‑style multifamily under construction
- Five units with ~1,606 SF each, offering three bedrooms and 2.5 baths
- Vaulted open‑concept living with an electric fireplace and a primary suite on the main level
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
$65,010
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
3.75%
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%
$1,300,200
$1.3M
Cap Rate 7%
$928,714
$928.7K
Cap Rate 9%
$722,333
$722.3K
Market Conditions
NOI Build-Up for 7,982 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
$125.5K $15.72/SF
− Vacancy
−$7.3K −$0.91/SF
EGI
$118.2K $14.81/SF
− OpEx
−$53.2K −$6.66/SF
NOI
$65.0K $8.14/SF
Area
Benton County, AR
Vacancy
5.80%
Lease Rate
$15.72 /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%
$1,300,200
Cap Rate 7%
$928,714
Cap Rate 9%
$722,333
Alternative Uses
Best Use
Apartment 5plus
$928.7K
$812.6K – $1.08M
NOI $65,010 @ 7.0% cap · market cap 3.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.19M
$1.92M – $2.56M
NOI $153,546 @ 7.0% cap · market cap 8.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
21
Businesses Nearby
Explore this area
Business Placement
Demographics for 72719, AR
16,248
Population
6,989
Households
2.3
Avg Household Size
30
Median Age
39%
College-Educated
96%
High-School Grad
9.2 sq mi
ZIP Area
1,766
Density / Sq Mi
$111,250
Median Household Income
$61,073
Median Earnings
$1,432
Median Rent
$283,300
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 - Under-construction five-unit contemporary townhome-style multifamily with covered patios, private backyards, and modern open living spaces.
Where is this apartment building located?
The property is located at 450-490 Jasper Road Centerton, AR.
What is the asking price?
The asking price for this property is $1,734,480.
What are key features of this property?
This property features: 0.46‑acre site totaling 7,982 SF for a five‑unit townhome‑style multifamily under construction; Five units with ~1,606 SF each, offering three bedrooms and 2.5 baths; Vaulted open‑concept living with an electric fireplace and a primary suite on the main level
