16-Unit Apartment
For Sale
$948,900
101 S Locust Street, Searcy, AR 72143
Multi-Family, Traditional, Searcy, AR
Property Size8,568 SF
Lot Size0.34 Acres
Price / SF$110.75
Days on Market47
Property Features for 101 S Locust Street
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Exterior features
Partially Fenced
Fencing
Partial
Appliances
Electric Range, Refrigerator-Stays, Electric Range, Refrigerator-Stays
Subdivision
Searcy Original
Lot features
Level, Corner Lot
Directions
From Main Street/Beebe Capps intersection, go North on Main, turn right onto Center Street, go one block and apartments will be on the corner of Center and Locust. Only one block off of main street and a few blocks West of Harding University.
Standard status
Active
Size
8,568 SF
Lot size
0.34 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Description
E 100' LOTS 10 THRU 12
Tax Annual Amount
2000
Legal Description
E 100' LOTS 10 THRU 12
Building Details
Year built
1980
Floors in Building
2
Number of units
16
Flooring type
Vinyl, Tile
Roof type
Shingle
Architectural style
Other
Listing Agency:
Howell Realty Pros
(501) 230-2667
Listed By:
Dylan Johnston
(501) 628-2838
Added: Sep 13
Changed: Oct 26
Last Checked: Oct 29 at 4:06PM
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.
Built in 1980, this 16-unit apartment property contains 8,568 square feet on 0.34 acres at 101 S Locust Street in Searcy. Each residence offers one bedroom and one bathroom, with apartments averaging approximately 530 square feet. The property is currently 100% occupied.
Interior finishes include vinyl and tile flooring, while individual units feature electric ranges and refrigerators. Exterior improvements include partial fencing and a shingle roof. The property sits one block from Downtown Searcy and minutes from Harding University, with shopping, dining, and other local amenities nearby.
Interior finishes include vinyl and tile flooring, while individual units feature electric ranges and refrigerators. Exterior improvements include partial fencing and a shingle roof. The property sits one block from Downtown Searcy and minutes from Harding University, with shopping, dining, and other local amenities nearby.
Key Highlights
- 16 one‑bedroom, one‑bath apartments
- 8,568‑square‑foot property on 0.34 acres
- Apartments average approximately 530 square feet
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 11.56%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied apartment property near Downtown Searcy and Harding University.
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 $948,900.
What are key features of this property?
This property features: 16 one‑bedroom, one‑bath apartments; 8,568‑square‑foot property on 0.34 acres; Apartments average approximately 530 square feet
