Four-Unit Apartment
For Sale
$200,000
Pending
519 N 31st ST, Fort Smith, AR 72903
Multifamily, Fort Smith, AR
Property Size2,936 SF
Lot Size0.20 Acres
Days on Market889
Property Features for 519 N 31st ST
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Bedrooms
4
Rooms
Bedroom 4, Bedroom 1, Bedroom 2, Bedroom 3
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
on-site laundry
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) 461-3782
Added: Apr 29, 2024
Changed: Sep 16
Last Checked: Oct 4 at 7:06PM
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 2,936-square-foot quadplex contains four one-bedroom, one-bathroom apartments. The property was built in 1970 and includes baseboard heating, window-unit cooling, and a shingle roof. Flooring varies among carpet, laminate, and vinyl, while select apartments have received vinyl plank flooring and interior paint updates.
The building sits on a 0.1964-acre lot at 519 N 31st ST in Fort Smith, Arkansas. A shared coin-operated washer and dryer serve the fourplex. Ownership covers water and trash service, while tenants are responsible for electricity.
The building sits on a 0.1964-acre lot at 519 N 31st ST in Fort Smith, Arkansas. A shared coin-operated washer and dryer serve the fourplex. Ownership covers water and trash service, while tenants are responsible for electricity.
Key Highlights
- Four one‑bedroom, one‑bathroom apartments
- 2,936 square feet on a 0.1964‑acre lot
- Built in 1970 with a shingle roof
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
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
646
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Quadplex - Four one-bedroom apartments with shared coin-operated laundry and a mix of carpet, laminate, and vinyl flooring.
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 one‑bedroom, one‑bathroom apartments; 2,936 square feet on a 0.1964‑acre lot; Built in 1970 with a shingle roof
