One-Level 7-Unit Apartment
New
For Sale
$350,000
120 S Elm Street, Jacksonville, AR 72076
Fully occupied residential property with updated interiors and convenient access to schools, retail, healthcare, and recreation.
Property Size2,800 SF
Price / SF$125
Days on Market4
Property Features for 120 S Elm Street
General Information
Standard status
Active
Size
2,800 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
7 x 1BR/1BA
Multifamily Units
7
Building Details
Stories
1
Listing Agency:
Innovative Realty
(501) 847-4666
Listed By:
Kimberly Santos
(501) 766-3749
Source:
Arprorealty
Added: Sep 19
Last Checked: Sep 21 at 6:18AM
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 Innovative Realty
Investment Insights
Based on property information with market context.
This one-level apartment complex contains 7 units, each configured with 1 bedroom, 1 bathroom, a full kitchen, and a rear entry. The units are occupied and feature fresh paint, updated flooring, newer windows, and mini-split systems. The property size is listed as 2800.
Located in Jacksonville, AR, the complex is positioned near schools, daycares, stores, and hospitals. Dupree Sports Complex, along with a playground and skate park, is 1 mile away. The unit layout and low-maintenance features support straightforward residential operations across the property.
Located in Jacksonville, AR, the complex is positioned near schools, daycares, stores, and hospitals. Dupree Sports Complex, along with a playground and skate park, is 1 mile away. The unit layout and low-maintenance features support straightforward residential operations across the property.
Key Highlights
- 7‑unit, one‑level apartment complex
- All 7 units are fully occupied
- Each unit includes 1 bedroom, 1 bathroom, and a full kitchen
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
$21,064
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
6.02%
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%
$421,280
$421.3K
Cap Rate 7%
$300,914
$300.9K
Cap Rate 9%
$234,044
$234.0K
Market Conditions
NOI Build-Up for 2,800 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
$40.7K $14.52/SF
− Vacancy
−$2.4K −$0.84/SF
EGI
$38.3K $13.68/SF
− OpEx
−$17.2K −$6.16/SF
NOI
$21.1K $7.52/SF
Area
Pulaski County, AR
Vacancy
5.80%
Lease Rate
$14.52 /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%
$421,280
Cap Rate 7%
$300,914
Cap Rate 9%
$234,044
Alternative Uses
Best Use
Apartment 5plus
$300.9K
$263.3K – $351.1K
NOI $21,064 @ 7.0% cap · market cap 6.02%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$534.1K
$467.3K – $623.1K
NOI $37,387 @ 7.0% cap · market cap 10.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
7
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
461
Businesses Nearby
Explore this area
Business Placement
Demographics for 72076, AR
38,443
Population
17,780
Households
2.2
Avg Household Size
37
Median Age
22%
College-Educated
90%
High-School Grad
72.7 sq mi
ZIP Area
529
Density / Sq Mi
$53,048
Median Household Income
$36,189
Median Earnings
$917
Median Rent
$155,600
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 residential property with updated interiors and convenient access to schools, retail, healthcare, and recreation.
Where is this apartment building located?
The property is located at 120 S Elm Street Jacksonville, AR.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 7‑unit, one‑level apartment complex; All 7 units are fully occupied; Each unit includes 1 bedroom, 1 bathroom, and a full kitchen
