3-Unit Multifamily
For Sale
$226,999
622 S 6th ST, Van Buren, AR 72956
MULTI_FAMILY - Van Buren, AR
Property Size2,904 SF
Lot Size0.18 Acres
Price / SF$78.17
Days on Market205
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) 719-1234
Added: Jan 19
Changed: Aug 7
Last Checked: Aug 12 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-style investment is offered on one parcel with two addresses: 622 S 6th St and 415 Wood St (Upstairs/Downstairs). The property totals approximately 2,904 SF and includes a 2BR/2BA home plus a two-unit garage-conversion duplex. 622 S 6th St features formal dining, a breakfast nook, and a fenced yard. 415 Wood St is configured with an upstairs 2BR/1BA unit and a downstairs studio/1BR unit.
Mechanical updates include new HVAC installed Aug 2024 for 622 S 6th St. The duplex units at 415 Wood St received energy-efficient mini-splits in 2023, with one per unit. Tenant utility responsibility is in place for the 622 S 6th St house, while duplex utilities are owner-paid due to shared meters. Long-term leases are in effect through July 2026 and Oct 2026.
The property also includes on-site parking plus street parking. The site is located in a flood zone. The listing notes flooring of wood and ceramic tile, natural gas and central heating, central air and electric cooling, and a shingle roof.
Mechanical updates include new HVAC installed Aug 2024 for 622 S 6th St. The duplex units at 415 Wood St received energy-efficient mini-splits in 2023, with one per unit. Tenant utility responsibility is in place for the 622 S 6th St house, while duplex utilities are owner-paid due to shared meters. Long-term leases are in effect through July 2026 and Oct 2026.
The property also includes on-site parking plus street parking. The site is located in a flood zone. The listing notes flooring of wood and ceramic tile, natural gas and central heating, central air and electric cooling, and a shingle roof.
Key Highlights
- 3‑unit configuration across 622 S 6th St and 415 Wood St (Upstairs/Downstairs)
- Approximately 2,904 SF total with a 2BR/2BA home plus a 2‑unit garage‑conversion duplex
- New HVAC installed Aug 2024 on 622 S 6th St
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
8.54%
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 8.54%
Second Best
Apartment 5plus
$255.2K
$223.3K – $297.7K
NOI $17,863 @ 7.0% cap · market cap 7.87%
Theoretical Best
Office A
$556.8K
$487.2K – $649.6K
NOI $38,974 @ 7.0% cap · market cap 17.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
553
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
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 - Turnkey three-unit setup with recent HVAC updates and in-place leases through 2026.
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 $226,999.
What are key features of this property?
This property features: 3‑unit configuration across 622 S 6th St and 415 Wood St (Upstairs/Downstairs); Approximately 2,904 SF total with a 2BR/2BA home plus a 2‑unit garage‑conversion duplex; New HVAC installed Aug 2024 on 622 S 6th St
