Triplex with Separate
For Sale
$215,000
5218-20 Elm ST, Fort Smith, AR 72904
MULTI_FAMILY - Fort Smith, AR
Property Size3,200 SF
Lot Size0.46 Acres
Price / SF$67.19
Days on Market142
Property Features for 5218-20 Elm ST
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Assigned
Patio and Porch features
Porch
Fireplace
1
Appliances
Gas, Range
Subdivision
Stough's Electric Park
Lot features
Other- Specify In Remarks
Elementary school
Spradling
Middle school
Kimmons
High school
Northside
Elementary school district
Fort Smith
Middle school district
Fort Smith
High school district
Fort Smith
Directions
Take the Grand Ave exit and head west on Grand Ave. Continue on Grand Ave for about 2-3 miles heading west. Turn left onto N 50th St. Drive south on N 50th St for a short distance. Turn right onto Elm St. Continue down Elm St until you reach 5218 Elm St.
Standard status
Active
APN
17519-00008-00006-00
Size
3,200 SF
Lot size
0.46 Acres
Taxes and HOA fees
Tax Description
E 75' Of Lot 8 Blk 8
Tax Annual Amount
600
Legal Description
E 75' Of Lot 8 Blk 8
Utilities
Heating system
Floor Furnace, Natural Gas
Cooling system
Window Unit(s)
Building Details
Year built
1930
Floors in Building
2
Number of units
3
Flooring type
Carpet, Vinyl
Roof type
Shingle
Listing Agency:
Riverstone Realty
(479) 551-2276
Listed By:
Clara Woodruff
(479) 551-2276
Added: Apr 1
Changed: Aug 5
Last Checked: Aug 20 at 7:06AM
MLS# 1088124
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 triplex at 5218–5220 Elm St features three separate units, each with its own entrance. The units are set up for multi-unit living or rental use, with practical layouts that include natural light. The property has a manageable lot size and includes a porch, with assigned parking.
Inside, residents have gas cooking with a range, along with heating provided by natural gas floor furnaces. Cooling is via window unit(s). Flooring includes carpet and vinyl, and the property includes a fireplace. The roof is shingle, and the building was built in 1930.
Convenient access to shopping, dining, and major roadways can support everyday livability for occupants, whether used as an owner-occupant setup or an income-focused rental arrangement.
Inside, residents have gas cooking with a range, along with heating provided by natural gas floor furnaces. Cooling is via window unit(s). Flooring includes carpet and vinyl, and the property includes a fireplace. The roof is shingle, and the building was built in 1930.
Convenient access to shopping, dining, and major roadways can support everyday livability for occupants, whether used as an owner-occupant setup or an income-focused rental arrangement.
Key Highlights
- Three separate units, each with its own entrance
- 0.46‑acre lot
- 3,200 SF total property size
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
$18,950
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
8.81%
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%
$379,000
$379.0K
Cap Rate 7%
$270,714
$270.7K
Cap Rate 9%
$210,556
$210.6K
Market Conditions
NOI Build-Up for 3,200 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
$37.2K $11.64/SF
− Vacancy
−$2.8K −$0.87/SF
EGI
$34.5K $10.77/SF
− OpEx
−$15.5K −$4.85/SF
NOI
$18.9K $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%
$379,000
Cap Rate 7%
$270,714
Cap Rate 9%
$210,556
Alternative Uses
Best Use
Multifamily LT 5
$303.2K
$265.3K – $353.7K
NOI $21,221 @ 7.0% cap · market cap 9.87%
Second Best
Apartment 5plus
$270.7K
$236.9K – $315.8K
NOI $18,950 @ 7.0% cap · market cap 8.81%
Theoretical Best
Healthcare Medical
$680.8K
$595.7K – $794.3K
NOI $47,658 @ 7.0% cap · market cap 22.17%
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
106
Businesses Nearby
Explore this area
Business Placement
Demographics for 72904, AR
22,402
Population
8,406
Households
2.7
Avg Household Size
33
Median Age
7%
College-Educated
67%
High-School Grad
13.7 sq mi
ZIP Area
1,635
Density / Sq Mi
$40,357
Median Household Income
$28,519
Median Earnings
$817
Median Rent
$108,200
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?
Triplex - Triplex on a 0.46-acre lot offering three units with separate entrances, porch space, and assigned parking.
Where is this triplex located?
The property is located at 5218-20 Elm ST Fort Smith, AR.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Three separate units, each with its own entrance; 0.46‑acre lot; 3,200 SF total property size
