Residential Income Property with
For Sale
$190,500
1005 S German Lane #23, Conway, AR 72034
Residential, Traditional, Townhouse, Conway, AR
Property Size1,524 SF
Price / SF$125
Days on Market14
Property Features for 1005 S German Lane #23
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 3, Bedroom 1, Bedroom 2, Bathroom 2, Living Room
Parking features
Assigned, Garage
Patio and Porch features
Deck
Interior features
Washer Connection, Dryer Connection-Electric, Water Heater-Gas, Smoke Detector(s), Walk-In Closet(s), Ceiling Fan(s), Wired for Highspeed Inter, Kit Counter-Formica
Exterior features
Deck, Inground Pool
Fireplace
1
Appliances
Free-Standing Stove, Microwave, Electric Range, Dishwasher, Disposal, Refrigerator-Stays, Ice Maker Connection
Subdivision
CARRIAGE COURTS
Lot features
Level
Directions
Take exit 129 in Conway and head West approximately 3 miles. Turn south onto South German lane.
Standard status
Active
Size
1,524 SF
Taxes and HOA fees
Tax Description
PT W1/2 SE
Tax Annual Amount
822
HOA Fee
$300 Monthly
Legal Description
PT W1/2 SE
Amenities
sky lights
salt water pool
gas logs
detached garage
Building Details
Year built
1986
Floors in Building
2
Flooring type
Vinyl
Roof type
Shingle
Architectural style
Other
Listing Agency:
Blue Collar Real Estate
(866) 321-7653
Listed By:
Timothy Lawson
(501) 242-1952
Added: Sep 22
Changed: Sep 29
Last Checked: Oct 5 at 1:06AM
MLS# 26038580
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.
This 1,524-square-foot residential income property in Conway offers three bedrooms, two bathrooms, and a spacious living room. Built in 1986, the home features skylights, natural light, gas logs, vinyl flooring, a walk-in closet, ceiling fans, and a deck. The kitchen includes a stove, microwave, electric range, dishwasher, disposal, refrigerator, and ice maker connection. A detached garage and assigned parking provide dedicated parking options.
The property also includes an inground saltwater pool and high-speed internet wiring. HVAC was updated in 2024, the gas water heater dates to 2022, and the kitchen appliances were replaced within the last five years. The home is located in Conway near the University of Central Arkansas and shopping.
The property also includes an inground saltwater pool and high-speed internet wiring. HVAC was updated in 2024, the gas water heater dates to 2022, and the kitchen appliances were replaced within the last five years. The home is located in Conway near the University of Central Arkansas and shopping.
Key Highlights
- 1,524 SF residential property with 3 bedrooms and 2 bathrooms
- Inground saltwater pool and exterior deck
- Detached garage with assigned parking
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
$9,161
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
4.81%
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%
$183,220
$183.2K
Cap Rate 7%
$130,871
$130.9K
Cap Rate 9%
$101,789
$101.8K
Market Conditions
NOI Build-Up for 1,524 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
$17.7K $11.64/SF
− Vacancy
−$1.1K −$0.71/SF
EGI
$16.7K $10.93/SF
− OpEx
−$7.5K −$4.92/SF
NOI
$9.2K $6.01/SF
Area
Faulkner County, AR
Vacancy
6.10%
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%
$183,220
Cap Rate 7%
$130,871
Cap Rate 9%
$101,789
Alternative Uses
Best Use
Apartment 5plus
$130.9K
$114.5K – $152.7K
NOI $9,161 @ 7.0% cap · market cap 4.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$347.6K
$304.2K – $405.6K
NOI $24,333 @ 7.0% cap · market cap 12.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
245
Businesses Nearby
Explore this area
Business Placement
Demographics for 72034, AR
47,873
Population
22,523
Households
2.1
Avg Household Size
33
Median Age
44%
College-Educated
94%
High-School Grad
47.9 sq mi
ZIP Area
999
Density / Sq Mi
$61,675
Median Household Income
$40,511
Median Earnings
$993
Median Rent
$250,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Three-bedroom residence with a detached garage, saltwater pool, skylights, and updated HVAC.
Where is this residential income property located?
The property is located at 1005 S German Lane #23 Conway, AR.
What is the asking price?
The asking price for this property is $190,500.
What are key features of this property?
This property features: 1,524 SF residential property with 3 bedrooms and 2 bathrooms; Inground saltwater pool and exterior deck; Detached garage with assigned parking
