Brick Duplex With
For Sale
$360,000
36-38 W Rainsong St, Farmington, AR 72730
Two matching residences offer flexible living space, updated bathrooms, private patios, and fenced backyards.
Property Size2,274 SF
Price / SF$158.31
Days on Market28
Property Features for 36-38 W Rainsong St
General Information
Standard status
Active
Size
2,274 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/2BA + office
Multifamily Units
2
Amenities
stainless steel appliances
washer/dryer
private patio
fenced backyard
Building Details
Year Built
2002
Buildings
1
Construction
brick
Listing Agency:
Rowe Real Estate
(479) 341-6413
Listed By:
The Moldenhauer Group
(479) 341-6413
Source:
Nwahomestore
Added: Aug 2
Changed: Aug 28
Last Checked: Aug 28 at 4:46PM
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 Rowe Real Estate
Investment Insights
Based on property information with market context.
This all-brick duplex, built in 2002, contains 2,274 total square feet across two mirror-image units. Each residence includes two bedrooms, two bathrooms, an office or bonus room with a closet, a spacious living area, and a kitchen with abundant cabinetry. Stainless steel appliances, refrigerators, washers, and dryers remain with both units. Each side also has a one-car garage, private patio, and fenced backyard.
The property includes laminate flooring in the living rooms and bedrooms, with tile in the halls, kitchens, and bathrooms. Both bathrooms have been updated. The roof was replaced in 2025, while the HVAC systems were replaced in 2022. Unit 38 has fresh paint and a new garbage disposal.
The property includes laminate flooring in the living rooms and bedrooms, with tile in the halls, kitchens, and bathrooms. Both bathrooms have been updated. The roof was replaced in 2025, while the HVAC systems were replaced in 2022. Unit 38 has fresh paint and a new garbage disposal.
Key Highlights
- 2,274 total square feet in a two‑unit duplex
- Each unit has 2 bedrooms, 2 bathrooms, and an office or bonus room with a closet
- One‑car garage, private patio, and fenced backyard for each unit
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
$20,464
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
5.68%
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%
$409,280
$409.3K
Cap Rate 7%
$292,343
$292.3K
Cap Rate 9%
$227,378
$227.4K
Market Conditions
NOI Build-Up for 2,274 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
$31.4K $13.80/SF
− Vacancy
−$2.1K −$0.94/SF
EGI
$29.2K $12.86/SF
− OpEx
−$8.8K −$3.86/SF
NOI
$20.5K $9.00/SF
Area
Washington County, AR
Vacancy
6.84%
Lease Rate
$13.80 /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%
$409,280
Cap Rate 7%
$292,343
Cap Rate 9%
$227,378
Alternative Uses
Best Use
Multifamily LT 5
$292.3K
$255.8K – $341.1K
NOI $20,464 @ 7.0% cap · market cap 5.68%
Second Best
Apartment 5plus
$258.7K
$226.3K – $301.8K
NOI $18,106 @ 7.0% cap · market cap 5.03%
Theoretical Best
Office A
$610.4K
$534.1K – $712.1K
NOI $42,726 @ 7.0% cap · market cap 11.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
235
Businesses Nearby
Explore this area
Business Placement
Demographics for 72730, AR
9,624
Population
4,017
Households
2.4
Avg Household Size
36
Median Age
27%
College-Educated
91%
High-School Grad
20.8 sq mi
ZIP Area
463
Density / Sq Mi
$88,780
Median Household Income
$45,652
Median Earnings
$1,225
Median Rent
$244,900
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?
Duplex - Two matching residences offer flexible living space, updated bathrooms, private patios, and fenced backyards.
Where is this duplex located?
The property is located at 36-38 W Rainsong St Farmington, AR.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: 2,274 total square feet in a two‑unit duplex; Each unit has 2 bedrooms, 2 bathrooms, and an office or bonus room with a closet; One‑car garage, private patio, and fenced backyard for each unit
