16-Unit Apartment
101 S Locust Street, Searcy, AR 72143
For Sale
$947,500
Multi-Family, Traditional, Searcy, AR
Property Size8,568 SF
Lot Size0.34 Acres
Price / SF$110.59
Days on Market61
Property Features for 101 S Locust Street
General Information
Property type
Property subtype
Exterior features
Fencing
Appliances
Subdivision
Lot features
Directions
Standard status
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Building Details
Year built
Floors in Building
Number of units
Flooring type
Roof type
Architectural style
Listing Agency:
Howell Realty Pros
(501) 230-2667
Listed By:
Dylan Johnston
(501) 628-2838
Added: Sep 13
Changed: Nov 9
Last Checked: Nov 12 at 8:06AM
MLS# 26037374
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.
This 16-unit apartment property contains 8,568 square feet across 0.34 acres. Each apartment has one bedroom and one bathroom, with an average unit size of approximately 530 square feet. Built in 1980, the building has vinyl and tile flooring, a shingle roof, partial fencing, and electric ranges and refrigerators that remain with the units. All apartments are occupied, and scheduled rental income is reported at $8,950 per month.
The property is approximately one block from Downtown Searcy and a few minutes from Harding University. Shopping, dining, and local employers are also identified in the surrounding area.
The property is approximately one block from Downtown Searcy and a few minutes from Harding University. Shopping, dining, and local employers are also identified in the surrounding area.
Key Highlights
- 16 apartments, all currently occupied
- One‑bedroom, one‑bathroom units averaging approximately 530 square feet each
- 8,568‑square‑foot property on 0.34 acres
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,280
Cap Rate
4.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$925,600
$925.6K
Cap Rate 7%
$661,143
$661.1K
Cap Rate 9%
$514,222
$514.2K
Market Conditions
NOI Build-Up for 8,568 SF
Gross rent
$90.5K $10.56/SF
− Vacancy
−$6.3K −$0.74/SF
EGI
$84.1K $9.82/SF
− OpEx
−$37.9K −$4.42/SF
NOI
$46.3K $5.40/SF
Area
White County, AR
Vacancy
7.00%
Lease Rate
$10.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$925,600
Cap Rate 7%
$661,143
Cap Rate 9%
$514,222
Alternative Uses
Best Use
Apartment 5plus
$661.1K
$578.5K – $771.3K
NOI $46,280 @ 7.0% cap · market cap 4.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.57M
$1.37M – $1.83M
NOI $109,684 @ 7.0% cap · market cap 11.58%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
16
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,260
Businesses Nearby
Explore this area
Business Placement
Demographics for 72143, AR
35,111
Population
14,948
Households
2.3
Avg Household Size
37
Median Age
27%
College-Educated
89%
High-School Grad
302.1 sq mi
ZIP Area
116
Density / Sq Mi
$55,522
Median Household Income
$33,315
Median Earnings
$851
Median Rent
$176,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - The property is fully occupied, with one-bedroom, one-bathroom layouts across all residences.
Where is this apartment building located?
The property is located at 101 S Locust Street Searcy, AR.
What is the asking price?
The asking price for this property is $947,500.
What are key features of this property?
This property features: 16 apartments, all currently occupied; One‑bedroom, one‑bathroom units averaging approximately 530 square feet each; 8,568‑square‑foot property on 0.34 acres
