16-Unit Apartment
New
For Sale
$995,000
101 S Locust Street, Searcy, AR 72143
Multi-Family, Traditional, Searcy, AR
Property Size8,568 SF
Lot Size0.34 Acres
Price / SF$116.13
Days on Market2
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
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
Last Checked: Sep 14 at 2:06PM
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.
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 = 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
$46,280
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
4.65%
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%
$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
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
$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 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%
$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 4.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.57M
$1.37M – $1.83M
NOI $109,684 @ 7.0% cap · market cap 11.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
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
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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 $995,000.
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
