Five-Unit Apartment
For Sale
$249,900
622 W Oak Avenue, Jonesboro, AR 72401
Multi-Family, Traditional, Jonesboro, AR
Property Size2,866 SF
Lot Size0.37 Acres
Price / SF$87.19
Days on Market100
Property Features for 622 W Oak Avenue
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Appliances
Electric Range, Electric Range
Subdivision
Knights
Lot features
Level
Directions
West End. Off Flint Street. At Flint & Oak, turn west. Savannah House on the right.
Standard status
Active
Size
2,866 SF
Lot size
0.37 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
WITT SUB BLK 23-24 KNIGHT ADD
Tax Annual Amount
1572
Legal Description
WITT SUB BLK 23-24 KNIGHT ADD
Building Details
Floors in Building
2
Number of units
5
Roof type
Shingle
Architectural style
Other
Listing Agency:
Halsey Real Estate
(870) 972-9191
Listed By:
Kim Shelton · License #SA00085269
(870) 219-3322
Added: Jun 18
Changed: Sep 5
Last Checked: Sep 25 at 1:06AM
MLS# 26025295
Copyright © 2026 Cooperative Arkansas Realtors Multiple Listing Service. 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.
Located at 622 W Oak Avenue in Jonesboro, Arkansas, this 2,866-square-foot apartment building occupies 0.37 acres in the Historic West End Neighborhood. The property was converted from a single residence into five apartment units and retains the character of its original residential design.
The building has been well maintained and features a shingle roof. Its position just off Flint Street places the property within an established Jonesboro neighborhood, while the five-unit configuration provides a defined multifamily layout for continued residential use.
The building has been well maintained and features a shingle roof. Its position just off Flint Street places the property within an established Jonesboro neighborhood, while the five-unit configuration provides a defined multifamily layout for continued residential use.
Key Highlights
- Five‑unit apartment building created through conversion of a former residence
- 2,866 square feet of building area
- 0.37‑acre site
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
$17,192
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
6.88%
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%
$343,840
$343.8K
Cap Rate 7%
$245,600
$245.6K
Cap Rate 9%
$191,022
$191.0K
Market Conditions
NOI Build-Up for 2,866 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
$33.4K $11.64/SF
− Vacancy
−$2.1K −$0.73/SF
EGI
$31.3K $10.91/SF
− OpEx
−$14.1K −$4.91/SF
NOI
$17.2K $6.00/SF
Area
Craighead County, AR
Vacancy
6.30%
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%
$343,840
Cap Rate 7%
$245,600
Cap Rate 9%
$191,022
Alternative Uses
Best Use
Apartment 5plus
$245.6K
$214.9K – $286.5K
NOI $17,192 @ 7.0% cap · market cap 6.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$501.8K
$439.0K – $585.4K
NOI $35,123 @ 7.0% cap · market cap 14.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
1,814
Businesses Nearby
Explore this area
Business Placement
Demographics for 72401, AR
43,127
Population
19,328
Households
2.2
Avg Household Size
33
Median Age
23%
College-Educated
89%
High-School Grad
88.5 sq mi
ZIP Area
487
Density / Sq Mi
$43,412
Median Household Income
$32,970
Median Earnings
$897
Median Rent
$185,400
Median Home Value
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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?
Apartment building - Maintained residential property in Jonesboro’s Historic West End with a shingle roof and converted apartment layout.
Where is this apartment building located?
The property is located at 622 W Oak Avenue Jonesboro, AR.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Five‑unit apartment building created through conversion of a former residence; 2,866 square feet of building area; 0.37‑acre site
