Updated Duplex with Two
New
For Sale
$174,000
1030 Clifton St., Conway, AR 72034
Two apartments offer distinct layouts with separate electric and gas meters for tenants.
Property Size1,246 SF
Price / SF$139.65
Days on Market6
Property Features for 1030 Clifton St.
General Information
Standard status
Active
Size
1,246 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x studio, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Amenities
laundry room
Building Details
Year Built
1927
Buildings
1
Listing Agency:
Realty One Group - Pinnacle
Listed By:
Amber Wood
(501) 444-2055
Source:
Midsouthar
Added: Sep 2
Changed: Sep 7
Last Checked: Sep 7 at 7:25AM
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 Realty One Group - Pinnacle
Investment Insights
Based on property information with market context.
This 1,246 SF duplex, built in 1927, contains two separately configured apartments. The studio includes an 11' tongue-and-groove ceiling in the main room, a galley kitchen, stackable washer and dryer, and a water heater. The second apartment provides two bedrooms, one bathroom, a laundry room, an 11' beadboard ceiling, and LVP flooring through the living room, bedrooms, and hall. Recent improvements include kitchen equipment, bathroom finishes, mini splits, front doors, and plumbing work beneath the home.
Both apartments have established month-to-month tenants. Electric and gas are separately metered and paid by tenants, while water is paid by the landlord. Windows were replaced in 2022/2023, and the roof is approximately 5-6 years old. The property is within walking distance of downtown Conway, Arkansas.
Both apartments have established month-to-month tenants. Electric and gas are separately metered and paid by tenants, while water is paid by the landlord. Windows were replaced in 2022/2023, and the roof is approximately 5-6 years old. The property is within walking distance of downtown Conway, Arkansas.
Key Highlights
- 1,246 SF duplex with two apartment units
- Studio apartment with 11' tongue‑and‑groove ceiling, galley kitchen, and stackable W/D
- 2BR/1BA unit with laundry room and 11' beadboard ceiling
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
$8,381
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
4.82%
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%
$167,620
$167.6K
Cap Rate 7%
$119,729
$119.7K
Cap Rate 9%
$93,122
$93.1K
Market Conditions
NOI Build-Up for 1,246 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
$12.7K $10.20/SF
− Vacancy
−$736 −$0.59/SF
EGI
$12.0K $9.61/SF
− OpEx
−$3.6K −$2.88/SF
NOI
$8.4K $6.73/SF
Area
Faulkner County, AR
Vacancy
5.79%
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%
$167,620
Cap Rate 7%
$119,729
Cap Rate 9%
$93,122
Alternative Uses
Best Use
Multifamily LT 5
$119.7K
$104.8K – $139.7K
NOI $8,381 @ 7.0% cap · market cap 4.82%
Second Best
Apartment 5plus
$107.0K
$93.6K – $124.8K
NOI $7,490 @ 7.0% cap · market cap 4.30%
Theoretical Best
Office A
$284.2K
$248.7K – $331.6K
NOI $19,894 @ 7.0% cap · market cap 11.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,640
Businesses Nearby
Explore this area
Business Placement
Demographics for 72034, AR
47,873
Population
22,523
Households
2.1
Avg Household Size
33
Median Age
44%
College-Educated
94%
High-School Grad
47.9 sq mi
ZIP Area
999
Density / Sq Mi
$61,675
Median Household Income
$40,511
Median Earnings
$993
Median Rent
$250,000
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 - Two apartments offer distinct layouts with separate electric and gas meters for tenants.
Where is this duplex located?
The property is located at 1030 Clifton St. Conway, AR.
What is the asking price?
The asking price for this property is $174,000.
What are key features of this property?
This property features: 1,246 SF duplex with two apartment units; Studio apartment with 11' tongue‑and‑groove ceiling, galley kitchen, and stackable W/D; 2BR/1BA unit with laundry room and 11' beadboard ceiling
