Building Details

Year Built 1940

Tenancy Multi

Listing Agency: Salter Real Estate, Inc.

Listed By: Reda Salter Show Phone

Source: Pcsingtolittlerock

Added: Aug 23 Changed: Oct 14 Last Checked: Oct 7 at 5:47PM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Salter Real Estate, Inc.

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Investment Insights

Based on property information with market context.

This 2,208 SF duplex, built in 1940, contains two separate apartments. The Clifton Street residence offers two bedrooms and two bathrooms, while the Prince Street unit includes one bedroom and one bathroom. Both apartments use a shared laundry room and water heater, and each has its own gas service and furnace. A patio area serves both residences.

The Clifton Street unit needs paint and does not include a cookstove, dishwasher, or refrigerator. The Prince Street apartment has a cookstove and refrigerator but no dishwasher. Water and sewer are supplied through one meter, with the owner responsible for the bill. The property is offered in its existing condition.

Key Highlights

• 2,208 SF duplex built in 1940
• Clifton Street unit has 2 bedrooms and 2 bathrooms
• Prince Street unit has 1 bedroom and 1 bathroom

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$14,852

Cap Rate

5.51%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$297,040 $297.0K

Cap Rate 7%

$212,171 $212.2K

Cap Rate 9%

$165,022 $165.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,208 SF

Gross rent

$22.5K $10.20/SF

− Vacancy

−$1.3K −$0.59/SF

EGI

$21.2K $9.61/SF

− OpEx

−$6.4K −$2.88/SF

NOI

$14.9K $6.73/SF

Area

Faulkner County, AR

Vacancy

5.79%

Lease Rate

$10.20 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$297,040

Cap Rate 7%

$212,171

Cap Rate 9%

$165,022

Alternative Uses

Best Use

Multifamily LT 5

$212.2K

$185.7K – $247.5K (±1% cap)

NOI $14,852 @ 7.0% cap · market cap 5.51%

Second Best

Apartment 5plus

$189.6K

$165.9K – $221.2K (±1% cap)

NOI $13,273 @ 7.0% cap · market cap 4.93%

Theoretical Best

Office A

$503.6K

$440.7K – $587.6K (±1% cap)

NOI $35,253 @ 7.0% cap · market cap 13.08%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Grocery & Convenience Store Electrical Service Garden Center Locksmith Acupuncture Florist

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Multi-tenant

Tenancy

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

1,640

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

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Two-unit layout includes separate gas service and furnaces, with shared laundry facilities and water heating.

Where is this duplex located?

The property is located at 1006 Clifton St Conway, AR.

What is the asking price?

The asking price for this property is $269,500.

What are key features of this property?

This property features: 2,208 SF duplex built in 1940; Clifton Street unit has 2 bedrooms and 2 bathrooms; Prince Street unit has 1 bedroom and 1 bathroom