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    849 Elm St Waldron, AR 72958

    View on Map
    Sponsored
    For Sale
    Pending
    $2,450,000

    MULTI_FAMILY - Waldron, AR

    Type:Apartment
    Property size:
    45,855 SF
    Lot size:
    5.00 Acres
    Days on Market:
    569
    Last Refresh:
    Mar 7 at 9:06 am

    Property Features for 849 Elm St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Apartment
    Standard status
    Pending
    APN
    080-01388-000
    Parking features
    Assigned
    Size
    45,855 SF
    Lot size
    5.00 Acres

    Utilities

    Cooling system
    ENERGY STAR Qualified Equipment

    Building Details

    Floors in Building
    2
    Number of units
    77
    Flooring type
    Tile - Ceramic, Vinyl
    Roof type
    Shingle

    We can help!

    Listing Contact
    Joshua Harmon
    Joshua Harmon

    Harmon Real Estate Company (479) 719-0344

    Listing agent Joshua Harmon

    Listing date Aug 16, 2024

    MLS# 1066912

    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.

    Learn more

    Property Insight Report

    Overview

    77-Unit Multifamily Investment Opportunity

    This offering features Winchester Estates and Waldron Inn, a combined 77-unit property in Waldron, Arkansas. Winchester Estates, located at 849 Elm Street, comprises 49 units and has been fully renovated within the last five years. The unit mix includes one, two, and three-bedroom apartments. This community-oriented property features a playground, a common laundry area, select in-unit storage, an on-site office, and ample green space. Waldron Inn, a 28-unit, one-story motel conversion, presents an opportunity for value enhancement through capital investment in unit upgrades. The unit mix consists of studio and one-bedroom apartments. The property has been maintained and is suited for a physical value-add program. The property totals 45,855 square feet and sits on a 5-acre lot. Winchester Estates is considered one of the premier properties in Waldron. The common laundry area is currently not in service, presenting an opportunity to add value to the net operating income.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Restaurant Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Waldron
    County
    Scott
    State
    Arkansas
    Longitude
    -94.100616
    Latitude
    34.892645

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    FAQs

    What type of property is this?
    Apartment building - Two properties with upside potential in Waldron, Arkansas.
    Where is this apartment building located?
    The property is located at 849 Elm St Waldron, AR.
    What is the asking price?
    The asking price for this property is $2,450,000.
    What are key features of this property?
    This property features: - 77-unit property offers significant upside potential.; - Winchester Estates (49 units) **completely renovated within the past 5 years**.; - Family-friendly community with **playground and ample green space**.
    (479) 719-0344
    Request Owner's contact information
    849 Elm St Waldron, AR 72958
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    849 Elm St Waldron, AR 72958
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    We can help!
    Listing Contact
    Joshua Harmon
    Joshua Harmon
    Real Estate License ID: PB00080746
    (479) 719-0344 (479) 275-3505 (479) 434-3000
    Learn more
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