Two Duplex Income
For Sale
$245,000
1022 20th Street, Fort Smith, AR 72901
For sale parcel with two duplexes and four occupied one-bedroom, one-bath units.
Property Size2,690 SF
Price / SF$91.08
Days on Market593
Property Features for 1022 20th Street
General Information
Standard status
Active
Size
2,690 SF
Property subtype
Duplex
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$1,042
Amenities
Electric
3
Ceramic Tile
Electric Dryer
Alarm -Smoke/Fire
Shingle, Fiberglass
No Fence, Brick Wall
Corner Lot.
Garage, 2 Carports.
Brick, Vinyl
0.16
Corner, Community Maintenance, Clear lot.
Building Details
Stories
1
Listing Agency:
AROK Realty, LLC
(479) 719-1234
Listed By:
Team Salsbury
(479) 461-3782
Source:
Xome
Added: Dec 26, 2024
Changed: Aug 9
Last Checked: Aug 11 at 4:42AM
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 AROK Realty, LLC
Investment Insights
Based on property information with market context.
This for-sale income property consists of two separate duplexes on one parcel, providing four one-bedroom, one-bath units in total. One duplex has been completely remodeled and is currently rented, featuring custom cabinetry, tile flooring, and PTAC heating and cooling systems. The units include washer and dryer connections and updated interior finishes.
The second duplex is described as a blank canvas and can be finished out or remodeled to match the standards of the remodeled duplex.
The listing includes 1022–1024 S 20th St and 1915–1917 S J St. Units are currently occupied; do not disturb tenants, and 24-hour notice is required to show.
The second duplex is described as a blank canvas and can be finished out or remodeled to match the standards of the remodeled duplex.
The listing includes 1022–1024 S 20th St and 1915–1917 S J St. Units are currently occupied; do not disturb tenants, and 24-hour notice is required to show.
Key Highlights
- For sale parcel with two separate duplexes on one lot, totaling four 1‑bedroom, 1‑bath units
- One duplex is completely remodeled and currently rented
- Remodeled units include custom cabinetry, ceramic tile flooring, and washer/dryer connections
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
$17,839
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
7.28%
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%
$356,780
$356.8K
Cap Rate 7%
$254,843
$254.8K
Cap Rate 9%
$198,211
$198.2K
Market Conditions
NOI Build-Up for 2,690 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
$27.4K $10.20/SF
− Vacancy
−$2.0K −$0.73/SF
EGI
$25.5K $9.47/SF
− OpEx
−$7.6K −$2.84/SF
NOI
$17.8K $6.63/SF
Area
Sebastian County, AR
Vacancy
7.12%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
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%
$356,780
Cap Rate 7%
$254,843
Cap Rate 9%
$198,211
Alternative Uses
Best Use
Multifamily LT 5
$254.8K
$223.0K – $297.3K
NOI $17,839 @ 7.0% cap · market cap 7.28%
Second Best
Apartment 5plus
$227.6K
$199.1K – $265.5K
NOI $15,930 @ 7.0% cap · market cap 6.50%
Theoretical Best
Healthcare Medical
$572.3K
$500.8K – $667.7K
NOI $40,063 @ 7.0% cap · market cap 16.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
27
Businesses Nearby
Explore this area
Business Placement
Demographics for 72901, AR
20,973
Population
10,337
Households
2
Avg Household Size
37
Median Age
21%
College-Educated
81%
High-School Grad
8.7 sq mi
ZIP Area
2,411
Density / Sq Mi
$42,568
Median Household Income
$30,582
Median Earnings
$837
Median Rent
$113,200
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?
Duplex - For sale parcel with two duplexes and four occupied one-bedroom, one-bath units.
Where is this duplex located?
The property is located at 1022 20th Street Fort Smith, AR.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: For sale parcel with two separate duplexes on one lot, totaling four 1‑bedroom, 1‑bath units; One duplex is completely remodeled and currently rented; Remodeled units include custom cabinetry, ceramic tile flooring, and washer/dryer connections
