Four-Unit Residential
For Sale
$595,000
1008 N Madison St, Jonesboro, AR 72401
Fully occupied residential property with two-bedroom layouts, on-site parking, and established tenancy.
Property Size3,742 SF
Price / SF$159.01
Days on Market10
Property Features for 1008 N Madison St
General Information
Standard status
Active
Size
3,742 SF
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
4 x 2BR/1.5BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$3,733
Amenities
on-site parking
Building Details
Year Built
2023
Listing Agency:
Halsey Real Estate
(870) 972-9191
Listed By:
Kim Shelton · License #SA00085269
(870) 219-3322
Source:
Exprealty
Added: Sep 16
Changed: Sep 24
Last Checked: Sep 24 at 11:56AM
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 Halsey Real Estate
Investment Insights
Based on property information with market context.
This 2023-built quadplex contains four two-bedroom, one-and-a-half-bath units with practical layouts and comfortable living areas. On-site parking serves the residences, and all units are currently occupied by an established tenant base.
Located at 1008 N Madison St in Jonesboro, AR, the property provides an existing residential income configuration with four separate units and current rental occupancy.
Located at 1008 N Madison St in Jonesboro, AR, the property provides an existing residential income configuration with four separate units and current rental occupancy.
Key Highlights
- Four two‑bedroom, one‑and‑a‑half‑bath units
- 100% occupied with an established tenant base
- Built in 2023
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
$24,714
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
4.15%
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%
$494,280
$494.3K
Cap Rate 7%
$353,057
$353.1K
Cap Rate 9%
$274,600
$274.6K
Market Conditions
NOI Build-Up for 3,742 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
$38.2K $10.20/SF
− Vacancy
−$2.9K −$0.77/SF
EGI
$35.3K $9.44/SF
− OpEx
−$10.6K −$2.83/SF
NOI
$24.7K $6.60/SF
Area
Craighead County, AR
Vacancy
7.50%
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%
$494,280
Cap Rate 7%
$353,057
Cap Rate 9%
$274,600
Alternative Uses
Best Use
Multifamily LT 5
$353.1K
$308.9K – $411.9K
NOI $24,714 @ 7.0% cap · market cap 4.15%
Second Best
Apartment 5plus
$320.7K
$280.6K – $374.1K
NOI $22,447 @ 7.0% cap · market cap 3.77%
Theoretical Best
Office A
$655.1K
$573.2K – $764.3K
NOI $45,859 @ 7.0% cap · market cap 7.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
139
Businesses Nearby
Explore this area
Business Placement
Demographics for 72401, AR
43,127
Population
19,328
Households
2.2
Avg Household Size
33
Median Age
23%
College-Educated
89%
High-School Grad
88.5 sq mi
ZIP Area
487
Density / Sq Mi
$43,412
Median Household Income
$32,970
Median Earnings
$897
Median Rent
$185,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully occupied residential property with two-bedroom layouts, on-site parking, and established tenancy.
Where is this quadplex located?
The property is located at 1008 N Madison St Jonesboro, AR.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Four two‑bedroom, one‑and‑a‑half‑bath units; 100% occupied with an established tenant base; Built in 2023
