8-Unit Apartment
For Sale
$725,000
1104 Cartwright, Jonesboro, AR 72401
Multi-Family, Traditional, Jonesboro, AR
Property Size8,720 SF
Lot Size0.02 Acres
Price / SF$83.14
Days on Market173
Property Features for 1104 Cartwright
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Interior features
Washer Connection, Breakfast Bar
Subdivision
Cartwright & French
Lot features
Level
Directions
North on N Church, Left on Center, RIght on Cartwright
Standard status
Active
Size
8,720 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
GREER'S REPLAT OF LOT 11 & 12
Tax Annual Amount
5778
Legal Description
GREER'S REPLAT OF LOT 11 & 12
Building Details
Year built
2014
Floors in Building
1
Number of units
8
Flooring type
Vinyl
Roof type
Shingle
Architectural style
Other
Listing Agency:
Halsey Real Estate
(870) 972-9191
Listed By:
Jon Moore · License #SA00055730
(870) 219-2308
Added: Apr 6
Changed: Sep 18
Last Checked: Sep 25 at 1:06AM
MLS# 26038193
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.
This apartment property contains 8 residential units, each offering a 2-bedroom, 1.5-bathroom layout. Completed in 2014, the building provides 8,720 square feet of space on a 0.02-acre parcel. Interior features include washer connections and breakfast bars, with vinyl flooring throughout and shingle roofing.
The property is located at 1104 Cartwright in Jonesboro, Arkansas, within Craighead County. All units are currently occupied, providing an established operating profile for an apartment-building buyer. The configuration offers a consistent unit mix across the property, with each residence providing the same two-bedroom, one-and-a-half-bath arrangement.
The property is located at 1104 Cartwright in Jonesboro, Arkansas, within Craighead County. All units are currently occupied, providing an established operating profile for an apartment-building buyer. The configuration offers a consistent unit mix across the property, with each residence providing the same two-bedroom, one-and-a-half-bath arrangement.
Key Highlights
- 8 apartment units with a consistent 2‑bedroom, 1.5‑bathroom layout
- 8,720 square feet on a 0.02‑acre parcel
- Built in 2014
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
$52,308
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
7.21%
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%
$1,046,160
$1.0M
Cap Rate 7%
$747,257
$747.3K
Cap Rate 9%
$581,200
$581.2K
Market Conditions
NOI Build-Up for 8,720 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
$101.5K $11.64/SF
− Vacancy
−$6.4K −$0.73/SF
EGI
$95.1K $10.91/SF
− OpEx
−$42.8K −$4.91/SF
NOI
$52.3K $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%
$1,046,160
Cap Rate 7%
$747,257
Cap Rate 9%
$581,200
Alternative Uses
Best Use
Apartment 5plus
$747.3K
$653.9K – $871.8K
NOI $52,308 @ 7.0% cap · market cap 7.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.53M
$1.34M – $1.78M
NOI $106,865 @ 7.0% cap · market cap 14.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
8
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
129
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied apartment property with washer connections, breakfast bars, and vinyl flooring.
Where is this apartment building located?
The property is located at 1104 Cartwright Jonesboro, AR.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 8 apartment units with a consistent 2‑bedroom, 1.5‑bathroom layout; 8,720 square feet on a 0.02‑acre parcel; Built in 2014
