Four-Unit
1008 N Madison Street, Jonesboro, AR 72401
For Sale
$585,000
Multi-Family, Traditional, Jonesboro, AR
Property Size3,742 SF
Lot Size0.20 Acres
Price / SF$156.33
Days on Market55
Property Features for 1008 N Madison Street
General Information
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Additional Details
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Taxes and HOA fees
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Floors in Building
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Listing Agency:
Halsey Real Estate
(870) 972-9191
Listed By:
Kim Shelton · License #SA00085269
(870) 219-3322
Added: Sep 16
Changed: Nov 3
Last Checked: Nov 9 at 4:06AM
MLS# 26037756
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.
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Investment Insights
Based on property information with market context.
Built in 2023, this 3,742-square-foot quadplex contains four two-bedroom, one-and-a-half-bath units. The property is 100% occupied, with each residence offering a practical layout, vinyl and concrete flooring, and washer and electric dryer connections. Appliances include electric ranges, refrigerators, and microwaves.
The property occupies 0.2 acres at 1008 N Madison Street in Jonesboro, Arkansas. On-site parking serves the units, while shingle roofing supports the building's exterior improvements. The property is configured as a fully occupied residential income asset with an established tenant base.
The property occupies 0.2 acres at 1008 N Madison Street in Jonesboro, Arkansas. On-site parking serves the units, while shingle roofing supports the building's exterior improvements. The property is configured as a fully occupied residential income asset with an established tenant base.
Key Highlights
- Four two‑bedroom, one‑and‑a‑half‑bath units
- 100% occupied with established tenants
- 3,742 square feet on 0.2 acres
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,714
Cap Rate
4.22%
Suggested Prices Based on Cap Rates
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
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 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 4.22%
Second Best
Apartment 5plus
$320.7K
$280.6K – $374.1K
NOI $22,447 @ 7.0% cap · market cap 3.84%
Theoretical Best
Office A
$655.1K
$573.2K – $764.3K
NOI $45,859 @ 7.0% cap · market cap 7.84%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
139
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Fully occupied multifamily property with four two-bedroom units and on-site parking.
Where is this quadplex located?
The property is located at 1008 N Madison Street Jonesboro, AR.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: Four two‑bedroom, one‑and‑a‑half‑bath units; 100% occupied with established tenants; 3,742 square feet on 0.2 acres
