Eight-Unit Apartment
For Sale
$795,000
1300-1306 N Greenwich Avenue, Russellville, AR 72801
Residential, Russellville, AR
Property Size6,484 SF
Lot Size0.69 Acres
Price / SF$122.61
Days on Market53
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 2, Bathroom 1, Bathroom 16, Bathroom 64, Bedroom 6, Bedroom 12, Bedroom 10, Bedroom 4, Bedroom 16, Bathroom 36, Bathroom 61, Bathroom 33, Bathroom 53, Bathroom 13, Bathroom 52, Bathroom 49, Bedroom 5, Bathroom 62, Bathroom 9, Bedroom 8, Bathroom 34, Bathroom 29, Bathroom 18, Bathroom 42, Bathroom 7, Bathroom 28, Bathroom 45, Bathroom 4, Bathroom 46, Bedroom 13, Bathroom 26, Bathroom 3, Bedroom 2, Bedroom 1, Bathroom 24, Bathroom 6, Bathroom 41, Bathroom 43, Bathroom 56, Bathroom 14, Bathroom 17, Bathroom 22, Bathroom 32, Bathroom 55, Bathroom 27, Bedroom 14, Bedroom 15, Bathroom 19, Bathroom 11, Bathroom 8, Bathroom 58, Bathroom 44, Bathroom 23, Bedroom 11, Bathroom 35, Bathroom 51, Bathroom 40, Bathroom 63, Bathroom 21, Bathroom 20, Bathroom 31, Bathroom 5, Bedroom 7, Bathroom 12, Bathroom 15, Bedroom 9, Bathroom 60, Bathroom 37, Bedroom 3, Bathroom 39, Bathroom 10, Bathroom 59, Bathroom 47, Bathroom 38, Bathroom 48, Bathroom 54, Bathroom 30, Bathroom 57, Bathroom 50, Bathroom 25
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
Changed: Sep 16
Last Checked: Oct 4 at 7:06PM
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 contains 8 units arranged as two fourplex groupings, with each residence configured as 2 bedrooms and 1 bath. The 6,484-square-foot property occupies 0.69 acres and was built in 1993. Frame construction, vinyl flooring, central heating, central air, an electric water heater, and a concrete driveway are documented features.
Located at 1300-1306 N Greenwich Avenue in Russellville, the property is near Arkansas Tech University, schools, and a neighborhood park. Walking and biking trails, Downtown Russellville, shopping, and dining are also identified nearby. The eight-unit configuration brings multiple residential units together in one apartment property.
Located at 1300-1306 N Greenwich Avenue in Russellville, the property is near Arkansas Tech University, schools, and a neighborhood park. Walking and biking trails, Downtown Russellville, shopping, and dining are also identified nearby. The eight-unit configuration brings multiple residential units together in one apartment property.
Key Highlights
- 8 units arranged as two fourplex groupings
- Each unit includes 2 bedrooms and 1 bath
- 6,484 square feet on 0.69 acres
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
$43,393
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
5.46%
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%
$867,860
$867.9K
Cap Rate 7%
$619,900
$619.9K
Cap Rate 9%
$482,144
$482.1K
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
$66.1K $10.20/SF
− Vacancy
−$4.1K −$0.64/SF
EGI
$62.0K $9.56/SF
− OpEx
−$18.6K −$2.87/SF
NOI
$43.4K $6.69/SF
Area
Pope County, AR
Vacancy
6.27%
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%
$867,860
Cap Rate 7%
$619,900
Cap Rate 9%
$482,144
Alternative Uses
Best Use
Multifamily LT 5
$619.9K
$542.4K – $723.2K
NOI $43,393 @ 7.0% cap · market cap 5.46%
Second Best
Apartment 5plus
$553.9K
$484.6K – $646.2K
NOI $38,771 @ 7.0% cap · market cap 4.88%
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
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Open Analytics
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
253
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
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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 - Frame construction includes central heating, central air, vinyl flooring, and an electric water heater.
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 arranged as two fourplex groupings; Each unit includes 2 bedrooms and 1 bath; 6,484 square feet on 0.69 acres
