Eight-Unit Apartment
New
For Sale
$795,000
1300-1306 N Greenwich Avenue, Russellville, AR 72801
MULTI_FAMILY - Russellville, AR
Property Size6,484 SF
Lot Size0.69 Acres
Price / SF$122.61
Days on Market5
Property Features for 1300-1306 N Greenwich Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
16
Bathrooms
64
Full bathrooms
64
Rooms
Bathroom 23, Bathroom 50, Bathroom 13, Bathroom 46, Bathroom 32, Bathroom 25, Bathroom 2, Bathroom 44, Bathroom 62, Bathroom 30, Bathroom 43, Bedroom 9, Bathroom 59, Bathroom 57, Bathroom 42, Bathroom 34, Bedroom 15, Bathroom 36, Bathroom 47, Bathroom 4, Bathroom 61, Bathroom 16, Bathroom 56, Bedroom 13, Bathroom 3, Bathroom 20, Bathroom 27, Bathroom 31, Bathroom 49, Bedroom 4, Bedroom 7, Bedroom 5, Bathroom 6, Bathroom 14, Bathroom 11, Bedroom 14, Bathroom 7, Bathroom 28, Bathroom 64, Bathroom 15, Bathroom 12, Bathroom 38, Bathroom 18, Bathroom 29, Bathroom 9, Bathroom 55, Bedroom 10, Bathroom 51, Bathroom 41, Bathroom 58, Bedroom 2, Bathroom 40, Bedroom 16, Bedroom 1, Bathroom 22, Bedroom 12, Bedroom 8, Bathroom 52, Bathroom 45, Bathroom 1, Bathroom 21, Bathroom 39, Bathroom 17, Bathroom 19, Bedroom 6, Bathroom 10, Bathroom 63, Bedroom 11, Bathroom 53, Bathroom 54, Bedroom 3, Bathroom 5, Bathroom 8, Bathroom 60, Bathroom 35, Bathroom 37, Bathroom 24, Bathroom 48, Bathroom 33, Bathroom 26
Exterior features
ConcreteDriveway
Appliances
ElectricWaterHeater
Subdivision
T N Cole
Lot features
Corner Lot, Near Park, Subdivision
Directions
Traveling North on Hwy 7, turn right on O street by ATU, take right on N. Greenwich, see units on left.
Standard status
Active
APN
846-00023-000C
Size
6,484 SF
Lot size
0.69 Acres
Taxes and HOA fees
Tax Description
Lots 1,2,11,12 Blk E -- T N Cole Subdivision Pope county
Tax Annual Amount
1984
Legal Description
Lots 1,2,11,12 Blk E -- T N Cole Subdivision Pope county
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1993
Floors in Building
1
Number of units
8
Flooring type
Vinyl
Building materials
Frame
Listing Agency:
Arkansas Real Estate Collective
(479) 280-1999
Listed By:
Wetzel Group
(479) 970-0986
Added: Aug 13
Last Checked: Aug 17 at 2:06AM
MLS# 1358758
Copyright © 2026 ArkansasONE MLS. 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 at 1300-1306 N Greenwich Avenue comprises 8 units arranged in two fourplex groupings. Each residence contains 2 bedrooms and 1 bathroom, with 6,484 square feet of building area on a 0.69-acre site. The frame-built improvements date to 1993 and include vinyl flooring, central heating, central air conditioning, and an electric water heater. A concrete driveway serves the property.
The Russellville location is near Arkansas Tech University, schools, a neighborhood park, walking and biking trails, and Downtown Russellville. Shopping and dining are also identified in the surrounding area, providing nearby access to everyday services and recreation.
The Russellville location is near Arkansas Tech University, schools, a neighborhood park, walking and biking trails, and Downtown Russellville. Shopping and dining are also identified in the surrounding area, providing nearby access to everyday services and recreation.
Key Highlights
- 8 units with 2 bedrooms and 1 bathroom per unit
- 6,484 square feet on a 0.69‑acre site
- Two fourplex groupings at 1300‑1306 N Greenwich Avenue
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
$38,771
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
4.88%
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%
$775,420
$775.4K
Cap Rate 7%
$553,871
$553.9K
Cap Rate 9%
$430,789
$430.8K
Market Conditions
NOI Build-Up for 6,484 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
$75.5K $11.64/SF
− Vacancy
−$5.0K −$0.77/SF
EGI
$70.5K $10.87/SF
− OpEx
−$31.7K −$4.89/SF
NOI
$38.8K $5.98/SF
Area
Pope County, AR
Vacancy
6.60%
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%
$775,420
Cap Rate 7%
$553,871
Cap Rate 9%
$430,789
Alternative Uses
Best Use
Apartment 5plus
$553.9K
$484.6K – $646.2K
NOI $38,771 @ 7.0% cap · market cap 4.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.04M
$906.5K – $1.21M
NOI $72,517 @ 7.0% cap · market cap 9.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
965
Businesses Nearby
Explore this area
Business Placement
Demographics for 72801, AR
18,510
Population
7,530
Households
2.5
Avg Household Size
29
Median Age
26%
College-Educated
82%
High-School Grad
8.0 sq mi
ZIP Area
2,314
Density / Sq Mi
$42,363
Median Household Income
$22,473
Median Earnings
$837
Median Rent
$153,900
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 - Frame construction with central HVAC, vinyl flooring, and an electric water heater supports the residential configuration.
Where is this apartment building located?
The property is located at 1300-1306 N Greenwich Avenue Russellville, AR.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: 8 units with 2 bedrooms and 1 bathroom per unit; 6,484 square feet on a 0.69‑acre site; Two fourplex groupings at 1300‑1306 N Greenwich Avenue
