Updated Duplex With Separate
New
For Sale
$214,000
803 S 24th ST, Fort Smith, AR 72901
MULTI_FAMILY - Fort Smith, AR
Property Size2,244 SF
Lot Size0.16 Acres
Price / SF$95.37
Days on Market7
Property Features for 803 S 24th ST
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Appliances
Dishwasher, Other-Specify In Remarks
Subdivision
Mceachin
Lot features
In Subdivision, Landscaped
Directions
Start Garrison Avenue Bridge Head toward S 4th St on Garrison Ave (US-64). Go for 0.5 mi. Continue on Garrison Ave (AR-22). Go for 0.9 mi. Turn right onto S 24th St. Go for 0.1 mi. End at 803 S 24th St Fort Smith, Arkansas 72901-4179
Standard status
Active
APN
15029-0002-00003-00
Size
2,244 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Description
LOT 2 BLK 3
Tax Annual Amount
1651
Legal Description
LOT 2 BLK 3
Utilities
Heating system
Central
Cooling system
Electric
Amenities
covered patio
Building Details
Year built
1980
Floors in Building
2
Number of units
2
Flooring type
Laminate
Roof type
Shingle
Listing Agency:
Riverstone Realty
(479) 551-2276
Listed By:
Rhonda Murphy
(479) 551-2276
Added: Aug 3
Last Checked: Aug 9 at 1:06AM
MLS# 1090836
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 duplex contains two separate units within a 2,244-square-foot property built in 1980. The interiors feature laminate flooring, refreshed kitchen cabinetry, modern countertops, subway tile backsplash, updated fixtures, and functional layouts. Each unit has its own entrance, while the rear unit adds a covered patio and off-street parking. Central heating and electric cooling support year-round usability, and the roof is shingle construction.
One unit is occupied by a long-term tenant, while the other is being used as a short-term rental. The property is located at 803 S 24th ST in Fort Smith, near shopping, dining, medical facilities, and downtown. The 0.1607-acre parcel provides a compact residential income-property setting. The property is offered as is, with buyer verification required for square footage, zoning, and continued short-term rental operations.
One unit is occupied by a long-term tenant, while the other is being used as a short-term rental. The property is located at 803 S 24th ST in Fort Smith, near shopping, dining, medical facilities, and downtown. The 0.1607-acre parcel provides a compact residential income-property setting. The property is offered as is, with buyer verification required for square footage, zoning, and continued short-term rental operations.
Key Highlights
- Two‑unit duplex measuring 2,244 square feet
- One unit occupied by a long‑term tenant; second unit used as a short‑term rental
- Updated cabinetry, countertops, subway tile backsplash, fixtures, and laminate flooring
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
$14,881
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
6.95%
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%
$297,620
$297.6K
Cap Rate 7%
$212,586
$212.6K
Cap Rate 9%
$165,344
$165.3K
Market Conditions
NOI Build-Up for 2,244 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
$22.9K $10.20/SF
− Vacancy
−$1.6K −$0.73/SF
EGI
$21.3K $9.47/SF
− OpEx
−$6.4K −$2.84/SF
NOI
$14.9K $6.63/SF
Area
Sebastian County, AR
Vacancy
7.12%
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%
$297,620
Cap Rate 7%
$212,586
Cap Rate 9%
$165,344
Alternative Uses
Best Use
Multifamily LT 5
$212.6K
$186.0K – $248.0K
NOI $14,881 @ 7.0% cap · market cap 6.95%
Second Best
Apartment 5plus
$189.8K
$166.1K – $221.5K
NOI $13,289 @ 7.0% cap · market cap 6.21%
Theoretical Best
Healthcare Medical
$477.4K
$417.8K – $557.0K
NOI $33,420 @ 7.0% cap · market cap 15.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
539
Businesses Nearby
Explore this area
Business Placement
Demographics for 72901, AR
20,973
Population
10,337
Households
2
Avg Household Size
37
Median Age
21%
College-Educated
81%
High-School Grad
8.7 sq mi
ZIP Area
2,411
Density / Sq Mi
$42,568
Median Household Income
$30,582
Median Earnings
$837
Median Rent
$113,200
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?
Duplex - Two units include refreshed finishes, distinct entrances, and a mix of long-term and short-term occupancy.
Where is this duplex located?
The property is located at 803 S 24th ST Fort Smith, AR.
What is the asking price?
The asking price for this property is $214,000.
What are key features of this property?
This property features: Two‑unit duplex measuring 2,244 square feet; One unit occupied by a long‑term tenant; second unit used as a short‑term rental; Updated cabinetry, countertops, subway tile backsplash, fixtures, and laminate flooring
