Quadplex with Coin-Operated
For Sale
$200,000
Pending
519 N 31st ST, Fort Smith, AR 72903
MULTI_FAMILY - Fort Smith, AR
Property Size2,936 SF
Lot Size0.20 Acres
Days on Market836
Property Features for 519 N 31st ST
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Bedrooms
4
Rooms
Bedroom 1, Bedroom 3, Bedroom 2, Bedroom 4
Window features
Single Pane Window(s)
Subdivision
Brentwood
Lot features
Cleared, Level
Directions
Park Avenue to Melrose, North on Melrose, Left on Blackburn, North on 31st. NO SIGN
Standard status
Pending
APN
10843-0141-00010-00
Size
2,936 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Description
LOT 141A BLK J
Tax Annual Amount
1489
Legal Description
LOT 141A BLK J
Utilities
Heating system
Baseboard
Cooling system
Window Unit(s)
Amenities
coin operated washer/dryer
Building Details
Year built
1970
Floors in Building
2
Number of units
4
Flooring type
Laminate, Vinyl, Carpet
Roof type
Shingle
Listing Agency:
AROK Realty, LLC
(479) 719-1234
Listed By:
Team Salsbury
(479) 719-1234
Added: Apr 29, 2024
Changed: Aug 4
Last Checked: Aug 12 at 2:06AM
MLS# 1072140
Copyright © 2026 Western River Valley 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 quadplex features four 1-bedroom, 1-bath apartments, with owner-paid water and trash and tenant-paid electric. Several units have been updated with vinyl plank flooring and fresh paint, while interior flooring includes carpet, laminate, and vinyl. Common building systems include baseboard heating and window unit cooling, and each unit has access to coin operated washer/dryer facilities.
The property is located at 519 N 31st ST in Fort Smith, Arkansas (Sebastian County). The lot size is 0.1964 acres and the property size is 2,936 square feet, with a shingle roof and a year built of 1970.
With a four-unit layout and on-site laundry, the building is well suited for an investor looking for straightforward multifamily operations with split utility responsibility between owner and tenants.
The property is located at 519 N 31st ST in Fort Smith, Arkansas (Sebastian County). The lot size is 0.1964 acres and the property size is 2,936 square feet, with a shingle roof and a year built of 1970.
With a four-unit layout and on-site laundry, the building is well suited for an investor looking for straightforward multifamily operations with split utility responsibility between owner and tenants.
Key Highlights
- Four 1‑bedroom, 1‑bath apartments in a quadplex setup
- Coin operated washer/dryer provided on‑site
- Owner pays water and trash; tenants pay electric
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
$17,387
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
8.69%
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%
$347,740
$347.7K
Cap Rate 7%
$248,386
$248.4K
Cap Rate 9%
$193,189
$193.2K
Market Conditions
NOI Build-Up for 2,936 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
$34.2K $11.64/SF
− Vacancy
−$2.6K −$0.87/SF
EGI
$31.6K $10.77/SF
− OpEx
−$14.2K −$4.85/SF
NOI
$17.4K $5.92/SF
Area
Sebastian County, AR
Vacancy
7.50%
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%
$347,740
Cap Rate 7%
$248,386
Cap Rate 9%
$193,189
Alternative Uses
Best Use
Multifamily LT 5
$278.1K
$243.4K – $324.5K
NOI $19,470 @ 7.0% cap · market cap 9.74%
Second Best
Apartment 5plus
$248.4K
$217.3K – $289.8K
NOI $17,387 @ 7.0% cap · market cap 8.69%
Theoretical Best
Healthcare Medical
$624.7K
$546.6K – $728.8K
NOI $43,726 @ 7.0% cap · market cap 21.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
755
Businesses Nearby
Explore this area
Business Placement
Demographics for 72903, AR
25,225
Population
12,079
Households
2.1
Avg Household Size
41
Median Age
33%
College-Educated
91%
High-School Grad
16.2 sq mi
ZIP Area
1,557
Density / Sq Mi
$60,186
Median Household Income
$36,560
Median Earnings
$804
Median Rent
$216,200
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?
Quadplex - Quadplex with four 1-bedroom units, coin-operated washer/dryers, and owner-paid water and trash.
Where is this quadplex located?
The property is located at 519 N 31st ST Fort Smith, AR.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: Four 1‑bedroom, 1‑bath apartments in a quadplex setup; Coin operated washer/dryer provided on‑site; Owner pays water and trash; tenants pay electric
