Six-Unit Apartment
For Sale
$759,900
1012 N Main St, Jonesboro, AR 72401
Fully occupied multifamily property with separate electric metering, on-site parking, and fenced outdoor areas.
Property Size5,940 SF
Lot Size0.57 Acres
Price / SF$127.93
Days on Market118
Property Features for 1012 N Main St
General Information
Standard status
Active
Size
5,940 SF
Lot size
0.57 Acres
Property subtype
Residential Income
Zoning
R-3
Occupancy
100%
Units
Unit Mix
6 x 2BR/1BA
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$4,798
Amenities
covered front porches
tray ceiling
granite countertops
concrete flooring
built-in shelving
Building Details
Year Built
2018
Buildings
3
Construction
brick
Listing Agency:
Compass Rose Realty
(870) 336-1008
Listed By:
Andrea Andrews
(870) 336-1008
Source:
Exprealty
Added: Apr 17
Changed: Aug 12
Last Checked: Aug 12 at 6:41AM
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 Compass Rose Realty
Investment Insights
Based on property information with market context.
This multifamily property comprises three duplex buildings completed in 2018, totaling six occupied units on approximately 0.57 acres. Each residence offers about 990 SF with a living room featuring a tray ceiling, a kitchen equipped with an electric range, built-in microwave, and dishwasher, plus two bedrooms, one full bathroom, and a laundry room. Granite countertops, concrete floors, built-in closet shelving, and backyard access add functional interior detail. Covered porches, brick exteriors, architectural-shingle roofs, fencing, and parking serve the buildings. The property is zoned R-3 and located at 1012 N Main St in Jonesboro, within the Jonesboro School District and near downtown. Individual electric meters are provided, while the owner pays utilities and cable. Appliances convey with the units.
Key Highlights
- Six occupied apartment units across three duplex buildings
- Three duplexes completed in 2018 on a 0.57 +/- acre R‑3 zoned lot
- Each unit contains approximately 990 sf +/- of living space
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
$35,632
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
4.69%
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%
$712,640
$712.6K
Cap Rate 7%
$509,029
$509.0K
Cap Rate 9%
$395,911
$395.9K
Market Conditions
NOI Build-Up for 5,940 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
$69.1K $11.64/SF
− Vacancy
−$4.4K −$0.73/SF
EGI
$64.8K $10.91/SF
− OpEx
−$29.2K −$4.91/SF
NOI
$35.6K $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%
$712,640
Cap Rate 7%
$509,029
Cap Rate 9%
$395,911
Alternative Uses
Best Use
Apartment 5plus
$509.0K
$445.4K – $593.9K
NOI $35,632 @ 7.0% cap · market cap 4.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.04M
$910.0K – $1.21M
NOI $72,796 @ 7.0% cap · market cap 9.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,004
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied multifamily property with separate electric metering, on-site parking, and fenced outdoor areas.
Where is this apartment building located?
The property is located at 1012 N Main St Jonesboro, AR.
What is the asking price?
The asking price for this property is $759,900.
What are key features of this property?
This property features: Six occupied apartment units across three duplex buildings; Three duplexes completed in 2018 on a 0.57 +/- acre R‑3 zoned lot; Each unit contains approximately 990 sf +/- of living space
