Apartment Building with On-Site
For Sale
$825,000
1009 Flint St, Jonesboro, AR 72401
Multifamily property offering varied floor plans, private parking, and separately metered utilities for residents.
Property Size10,580 SF
Price / SF$77.98
Days on Market52
Property Features for 1009 Flint St
General Information
Standard status
Active
Size
10,580 SF
Property subtype
Residential Income
Site & Location
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
9 x 2BR/1BA, 3 x 1BR/1BA
Multifamily Units
12
Taxes and HOA fees
Annual Taxes
$4,697
Amenities
on-site laundry
private parking
Listing Agency:
Select Properties
9380967
Listed By:
Janie Hay
(870) 938-0967
Source:
Exprealty
Added: Aug 4
Changed: Sep 3
Last Checked: Sep 24 at 4:52PM
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 Select Properties
Investment Insights
Based on property information with market context.
This 10,580-square-foot apartment property includes 12 units arranged as nine two-bedroom, one-bath residences and three one-bedroom, one-bath residences. The property also provides a shared laundry area equipped with coin-operated washers and dryers, along with private parking for residents.
Located at the corner of Flint Street and Cherry Avenue in Jonesboro, the property offers access to shopping, restaurants, schools, and major roadways. Each residence has a separate utility meter, with residents responsible for their own utilities. The established unit mix and on-site amenities provide a clear operating profile for a multifamily owner.
Located at the corner of Flint Street and Cherry Avenue in Jonesboro, the property offers access to shopping, restaurants, schools, and major roadways. Each residence has a separate utility meter, with residents responsible for their own utilities. The established unit mix and on-site amenities provide a clear operating profile for a multifamily owner.
Key Highlights
- 12‑unit apartment property totaling 10,580 square feet
- Unit mix includes nine 2‑bedroom, 1‑bath units and three 1‑bedroom, 1‑bath units
- Shared laundry facility with coin‑operated washers and dryers
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
$63,466
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
7.69%
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%
$1,269,320
$1.3M
Cap Rate 7%
$906,657
$906.7K
Cap Rate 9%
$705,178
$705.2K
Market Conditions
NOI Build-Up for 10,580 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
$123.2K $11.64/SF
− Vacancy
−$7.8K −$0.73/SF
EGI
$115.4K $10.91/SF
− OpEx
−$51.9K −$4.91/SF
NOI
$63.5K $6.00/SF
Area
Craighead County, AR
Vacancy
6.30%
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%
$1,269,320
Cap Rate 7%
$906,657
Cap Rate 9%
$705,178
Alternative Uses
Best Use
Apartment 5plus
$906.7K
$793.3K – $1.06M
NOI $63,466 @ 7.0% cap · market cap 7.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.85M
$1.62M – $2.16M
NOI $129,660 @ 7.0% cap · market cap 15.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
12
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,540
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property offering varied floor plans, private parking, and separately metered utilities for residents.
Where is this apartment building located?
The property is located at 1009 Flint St Jonesboro, AR.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: 12‑unit apartment property totaling 10,580 square feet; Unit mix includes nine 2‑bedroom, 1‑bath units and three 1‑bedroom, 1‑bath units; Shared laundry facility with coin‑operated washers and dryers
