Two-Unit Ranch
For Sale
$269,500
1006 Clifton Street, Conway, AR 72034
MULTI_FAMILY - Conway, AR
Property Size2,208 SF
Lot Size0.40 Acres
Price / SF$122.06
Days on Market105
Property Features for 1006 Clifton Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bathroom 3, Bedroom 3, Bedroom 2, Bathroom 2, Bathroom 1
Parking features
Carport
Patio and Porch features
Patio
Interior features
Washer Connection, Dryer Connection-Electric, Hot Water Heater-Gas, Closet - Walk In, Fan - Ceiling, Some Units
Exterior features
Partially Fenced, Patio
Fencing
Partial
Appliances
Free-Standing Stove, Disposal, Ice Maker Connection, Free-Standing Stove, Disposal, Ice Maker Connection
Subdivision
Fiddlers
Lot features
Level, Corner Lot
Directions
From Harkrider, turn west on Oak, Right on Van Ronkle which turns into North Street, right on Locust, left on Prince, it is on the corner of Prince & Clifton Streets -- across the street from United Methodist Church.
Standard status
Active
APN
710-02902-000
Size
2,208 SF
Lot size
0.40 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PT Lot 137 Fiddlers Survey
Tax Annual Amount
1960
Legal Description
PT Lot 137 Fiddlers Survey
Amenities
shared laundry room
shared patio
Building Details
Year built
1940
Floors in Building
1
Number of units
2
Flooring type
Wood, Vinyl
Roof type
Flat, Composition
Architectural style
Ranch
Listing Agency:
Salter Real Estate, Inc.
(501) 327-6681
Listed By:
Reda Salter
(501) 450-0903
Added: May 20
Changed: Aug 18
Last Checked: Sep 1 at 7:06AM
MLS# 26021063
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 two-unit ranch-style duplex contains 2,208 square feet on a 0.4-acre lot and was built in 1940. The larger apartment offers two bedrooms and two bathrooms, while the second apartment has one bedroom and one bathroom. Both units share a laundry room and gas water heater. Each apartment has its own gas service and furnace. A patio is shared by the occupants, and the property includes a carport, partial fencing, wood and vinyl flooring, and a composition roof with a flat design. The property is being sold in its current condition. The Clifton Street unit needs paint and does not include a refrigerator or dishwasher; the Prince Street unit includes a cookstove and refrigerator but no dishwasher. Water and sewer are served by one meter, with the owner paying the bill.
Key Highlights
- 2,208‑square‑foot duplex on a 0.4‑acre lot
- Unit mix includes 2BR/2BA and 1BR/1BA apartments
- Separate gas service and furnaces for each apartment
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
$14,852
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
5.51%
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%
$297,040
$297.0K
Cap Rate 7%
$212,171
$212.2K
Cap Rate 9%
$165,022
$165.0K
Market Conditions
NOI Build-Up for 2,208 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
$22.5K $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 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%
$297,040
Cap Rate 7%
$212,171
Cap Rate 9%
$165,022
Alternative Uses
Best Use
Multifamily LT 5
$212.2K
$185.7K – $247.5K
NOI $14,852 @ 7.0% cap · market cap 5.51%
Second Best
Apartment 5plus
$189.6K
$165.9K – $221.2K
NOI $13,273 @ 7.0% cap · market cap 4.93%
Theoretical Best
Office A
$503.6K
$440.7K – $587.6K
NOI $35,253 @ 7.0% cap · market cap 13.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two apartments provide separate living spaces with shared laundry and individual gas heating systems.
Where is this duplex located?
The property is located at 1006 Clifton Street 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‑square‑foot duplex on a 0.4‑acre lot; Unit mix includes 2BR/2BA and 1BR/1BA apartments; Separate gas service and furnaces for each apartment
