New Construction
For Sale
$490,000
1623-1703 S 12 St, Fort Smith, AR 72903
Rented residential income property with modern interiors, private laundry rooms, and appliance packages in every unit.
Property Size3,296 SF
Price / SF$148.67
Days on Market18
Property Features for 1623-1703 S 12 St
General Information
Standard status
Active
Size
3,296 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Amenities
laundry room
refrigerator
stove
dishwasher
microwave
Building Details
Year Built
2026
Listing Agency:
Truvi Realty
(479) 431-2259
Listed By:
Bradford & Udouj Realtors
(479) 646-5539
Source:
Bradfordudouj
Added: Sep 9
Changed: Sep 24
Last Checked: Sep 26 at 7:00AM
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 Truvi Realty
Investment Insights
Based on property information with market context.
This quadplex contains four rental units totaling 3,296 square feet. Each unit offers 2 bedrooms, 1 bath, and a dedicated laundry room, along with an open kitchen and living area. Interior finishes include modern fixtures, quartz countertops, and LVP vinyl flooring throughout. Refrigerators, stoves, dishwashers, and microwaves are included in each unit.
The property was built in 2026, with completion noted for August 2026. All four units are rented. Located at 1623-1703 S 12 St in Fort Smith, Arkansas, the property is positioned as a residential income asset with a four-unit configuration.
The property was built in 2026, with completion noted for August 2026. All four units are rented. Located at 1623-1703 S 12 St in Fort Smith, Arkansas, the property is positioned as a residential income asset with a four-unit configuration.
Key Highlights
- Four‑unit property totaling 3,296 square feet
- All four units are rented
- Each unit includes 2 bedrooms, 1 bath, and a laundry room
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
$21,858
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
4.46%
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%
$437,160
$437.2K
Cap Rate 7%
$312,257
$312.3K
Cap Rate 9%
$242,867
$242.9K
Market Conditions
NOI Build-Up for 3,296 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
$33.6K $10.20/SF
− Vacancy
−$2.4K −$0.73/SF
EGI
$31.2K $9.47/SF
− OpEx
−$9.4K −$2.84/SF
NOI
$21.9K $6.63/SF
Area
Sebastian County, AR
Vacancy
7.12%
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%
$437,160
Cap Rate 7%
$312,257
Cap Rate 9%
$242,867
Alternative Uses
Best Use
Multifamily LT 5
$312.3K
$273.2K – $364.3K
NOI $21,858 @ 7.0% cap · market cap 4.46%
Second Best
Apartment 5plus
$278.8K
$244.0K – $325.3K
NOI $19,518 @ 7.0% cap · market cap 3.98%
Theoretical Best
Healthcare Medical
$701.3K
$613.6K – $818.1K
NOI $49,088 @ 7.0% cap · market cap 10.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
779
Businesses Nearby
Explore this area
Business Placement
Demographics for 72903, AR
25,225
Population
12,079
Households
2.1
Avg Household Size
41
Median Age
33%
College-Educated
91%
High-School Grad
16.2 sq mi
ZIP Area
1,557
Density / Sq Mi
$60,186
Median Household Income
$36,560
Median Earnings
$804
Median Rent
$216,200
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 - Rented residential income property with modern interiors, private laundry rooms, and appliance packages in every unit.
Where is this quadplex located?
The property is located at 1623-1703 S 12 St Fort Smith, 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: Four‑unit property totaling 3,296 square feet; All four units are rented; Each unit includes 2 bedrooms, 1 bath, and a laundry room
