Fully Leased
For Sale
$490,000
1408 Christy Drive, Springdale, AR 72764
MULTI_FAMILY - Springdale, AR
Property Size4,352 SF
Lot Size0.31 Acres
Price / SF$112.59
Days on Market92
Property Features for 1408 Christy Drive
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
Multi Family
Bedrooms
8
Bathrooms
8
Full bathrooms
4
Half bathrooms
4
Rooms
Bedroom 6, Bathroom 8, Bedroom 2, Bathroom 3, Bathroom 7, Bedroom 4, Bathroom 4, Bedroom 1, Bedroom 5, Bathroom 1, Bathroom 5, Bathroom 6, Bedroom 3, Bedroom 8, Bathroom 2, Bedroom 7
Parking features
Parking Lot
Exterior features
ConcreteDriveway
Appliances
CounterTop, Dishwasher, ElectricOven, GasCooktop, GasOven, GasWaterHeater, Refrigerator, WaterHeater
Subdivision
Parson Hills
Lot features
Cleared, City Lot, Level
Elementary school district
Springdale
Middle school district
Springdale
High school district
Springdale
Directions
Take I-49 to Don Tyson east, to right on Old Missouri Rd to right on Robinson to left on Thrush to right on Christy. Property is on the left.
Standard status
Active
APN
815-24336-000
Size
4,352 SF
Lot size
0.31 Acres
Taxes and HOA fees
Tax Description
/
Tax Annual Amount
1850
Legal Description
/
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1986
Floors in Building
2
Number of units
4
Flooring type
Wood, Tile, Laminate
Building materials
Brick
Roof type
Shingle, Asphalt
Listing Agency:
The Brandon Group
(479) 787-3080
Listed By:
Sumer Brandon · License #PB00063728
(479) 787-3080
Added: May 13
Changed: Aug 5
Last Checked: Aug 12 at 6:06PM
MLS# 1347326
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 fully leased four-plex includes four units, each featuring two bedrooms and 1.5 bathrooms. The property sits on a 0.3053-acre lot and was built in 1986 with brick construction. Interior finishes include tile, laminate, and wood flooring, with central heating and central air.
Each unit includes a large backyard and a concrete driveway serves the property, with parking provided in a parking lot. Public water is available, and the roof is described as asphalt shingle. The appliances list includes a refrigerator, dishwasher, electric oven, gas cooktop, and gas oven, along with a gas water heater and water heater.
Tenants are in place, and showings are not available until an accepted offer. Traditional financing only; the seller will not provide owner financing.
Each unit includes a large backyard and a concrete driveway serves the property, with parking provided in a parking lot. Public water is available, and the roof is described as asphalt shingle. The appliances list includes a refrigerator, dishwasher, electric oven, gas cooktop, and gas oven, along with a gas water heater and water heater.
Tenants are in place, and showings are not available until an accepted offer. Traditional financing only; the seller will not provide owner financing.
Key Highlights
- Fully leased four‑plex with four units
- Each unit offers two bedrooms and 1.5 bathrooms
- 0.3053‑acre lot
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
$39,165
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
7.99%
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%
$783,300
$783.3K
Cap Rate 7%
$559,500
$559.5K
Cap Rate 9%
$435,167
$435.2K
Market Conditions
NOI Build-Up for 4,352 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
$60.1K $13.80/SF
− Vacancy
−$4.1K −$0.94/SF
EGI
$55.9K $12.86/SF
− OpEx
−$16.8K −$3.86/SF
NOI
$39.2K $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%
$783,300
Cap Rate 7%
$559,500
Cap Rate 9%
$435,167
Alternative Uses
Best Use
Multifamily LT 5
$559.5K
$489.6K – $652.8K
NOI $39,165 @ 7.0% cap · market cap 7.99%
Second Best
Apartment 5plus
$495.0K
$433.2K – $577.5K
NOI $34,652 @ 7.0% cap · market cap 7.07%
Theoretical Best
Office A
$1.17M
$1.02M – $1.36M
NOI $81,770 @ 7.0% cap · market cap 16.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
319
Businesses Nearby
Explore this area
Business Placement
Demographics for 72764, AR
60,786
Population
20,781
Households
2.9
Avg Household Size
30
Median Age
20%
College-Educated
72%
High-School Grad
66.2 sq mi
ZIP Area
918
Density / Sq Mi
$61,569
Median Household Income
$34,552
Median Earnings
$984
Median Rent
$226,100
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?
Quadplex - Fully leased four-plex offering two-bedroom units with 1.5 baths each on a small lot in Springdale, AR.
Where is this quadplex located?
The property is located at 1408 Christy Drive Springdale, AR.
What is the asking price?
The asking price for this property is $490,000.
What are key features of this property?
This property features: Fully leased four‑plex with four units; Each unit offers two bedrooms and 1.5 bathrooms; 0.3053‑acre lot
