Three-Unit Multifamily
For Sale
$221,999
622 S 6th ST, Van Buren, AR 72956
Multifamily, Van Buren, AR
Property Size2,904 SF
Lot Size0.18 Acres
Price / SF$76.45
Days on Market258
Property Features for 622 S 6th ST
General Information
Property type
Residential Multi Family
Property subtype
Other
Subdivision
Van Buren Original
Lot features
Cleared, Corner
Directions
From Fort Smith cross the Midland Blvd Bridge at Light turn Right on 4th St six blocks down turn left onto Wood St Garage conversion and house on your left the corner of Wood St and S. 6th.
Standard status
Active
APN
700-00660-000
Size
2,904 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Description
PT 4 & SE 1/3 5 & 6
Tax Annual Amount
1119
Legal Description
PT 4 & SE 1/3 5 & 6
Utilities
Heating system
Central, Natural Gas
Cooling system
Electric, Central Air
Building Details
Floors in Building
2
Number of units
3
Flooring type
Wood, Tile - Ceramic
Roof type
Shingle
Listing Agency:
AROK Realty, LLC
(479) 719-1234
Listed By:
Team Salsbury
(479) 461-3782
Added: Jan 19
Changed: Sep 16
Last Checked: Oct 4 at 7:06PM
MLS# 1086530
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 comprises approximately 2,904 square feet on a 0.18-acre parcel, with improvements at 622 S 6th St and 415 Wood St. The layout includes a 2-bedroom, 2-bath single-family home and a converted two-unit garage structure. The house features formal dining, a breakfast nook, and a fenced yard, while the duplex contains an upstairs 2-bedroom, 1-bath unit and a downstairs studio or 1-bedroom, 1-bath unit. New HVAC was installed in the house in August 2024, and each duplex unit has an energy-efficient mini-split added in 2023.
The property includes on-site and street parking. Duplex utilities are owner-paid because of shared meters, and professional property management is in place for a straightforward transition. Existing leases extend through July 2026 and October 2026, with exact terms available for review. The property is located in a flood zone, and the roof is shingle.
The property includes on-site and street parking. Duplex utilities are owner-paid because of shared meters, and professional property management is in place for a straightforward transition. Existing leases extend through July 2026 and October 2026, with exact terms available for review. The property is located in a flood zone, and the roof is shingle.
Key Highlights
- Three units totaling approximately 2,904 square feet on a 0.18‑acre parcel
- Unit mix includes a 2BR/2BA house, 2BR/1BA upstairs unit, and studio/1BA downstairs unit
- New HVAC installed August 2024 in the single‑family house
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
$19,395
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
8.74%
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%
$387,900
$387.9K
Cap Rate 7%
$277,071
$277.1K
Cap Rate 9%
$215,500
$215.5K
Market Conditions
NOI Build-Up for 2,904 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
$29.6K $10.20/SF
− Vacancy
−$1.9K −$0.66/SF
EGI
$27.7K $9.54/SF
− OpEx
−$8.3K −$2.86/SF
NOI
$19.4K $6.68/SF
Area
Crawford County, AR
Vacancy
6.46%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
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%
$387,900
Cap Rate 7%
$277,071
Cap Rate 9%
$215,500
Alternative Uses
Best Use
Multifamily LT 5
$277.1K
$242.4K – $323.3K
NOI $19,395 @ 7.0% cap · market cap 8.74%
Second Best
Apartment 5plus
$255.2K
$223.3K – $297.7K
NOI $17,863 @ 7.0% cap · market cap 8.05%
Theoretical Best
Office A
$556.8K
$487.2K – $649.6K
NOI $38,974 @ 7.0% cap · market cap 17.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
568
Businesses Nearby
Explore this area
Business Placement
Demographics for 72956, AR
33,870
Population
14,119
Households
2.4
Avg Household Size
39
Median Age
19%
College-Educated
87%
High-School Grad
103.8 sq mi
ZIP Area
326
Density / Sq Mi
$60,387
Median Household Income
$33,894
Median Earnings
$825
Median Rent
$177,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Triplex - Three rentable units across a house and converted duplex, with property management already in place.
Where is this triplex located?
The property is located at 622 S 6th ST Van Buren, AR.
What is the asking price?
The asking price for this property is $221,999.
What are key features of this property?
This property features: Three units totaling approximately 2,904 square feet on a 0.18‑acre parcel; Unit mix includes a 2BR/2BA house, 2BR/1BA upstairs unit, and studio/1BA downstairs unit; New HVAC installed August 2024 in the single‑family house
