New Construction
New
For Sale
$490,000
1623-1703 S 12 ST, Fort Smith, AR 72903
Multifamily, Traditional, Fort Smith, AR
Property Size3,296 SF
Lot Size0.23 Acres
Price / SF$148.67
Days on Market1
Property Features for 1623-1703 S 12 ST
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning
Multi Family
Bedrooms
8
Rooms
Bedroom 8, Bedroom 1, Bedroom 2, Bedroom 7, Bedroom 4, Bedroom 6, Bedroom 5, Bedroom 3
Window features
Double Pane Windows, Vinyl Frames
Patio and Porch features
Patio
Appliances
Dishwasher, Electric, Microwave, Oven, Refrigerator
Subdivision
Sulphur Springs Town
Lot features
Landscaped, Not In Subdivision
Elementary school district
Fort Smith
Middle school district
Fort Smith
High school district
Fort Smith
Directions
From Towson Ave go East on S.O St. then Rt onto S. 12th St. Duplexes will be on the left.
Standard status
Active
APN
17621-0006-00006-00
Size
3,296 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Description
.
Tax Annual Amount
1500
Legal Description
.
Utilities
Cooling system
Electric
Amenities
laundry room
Building Details
Year built
2026
Floors in Building
1
Number of units
4
Flooring type
Vinyl
Roof type
Shingle
Architectural style
Other
Listing Agency:
Keller Williams Platinum Realty · Keller Williams Realty
(479) 434-3000
Listed By:
Tina LaRoche
(479) 806-2620
Added: Sep 8
Last Checked: Sep 8 at 5:06PM
MLS# 1091676
Copyright © 2026 Western River Valley Board of REALTORS®. 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 3,296-square-foot quadplex includes four residential units, each arranged with two bedrooms, one bathroom, and a laundry room. Interior specifications include open kitchen and living areas, quartz countertops, LVP flooring, and modern fixtures. Each unit is equipped with a refrigerator, stove, dishwasher, and microwave, and all four units are rented.
The property occupies 0.23 acres at 1623-1703 S 12 ST in Fort Smith, Arkansas, with Multi Family zoning. The new construction carries a 2026 year built designation and an August 2026 completion date. Additional property features include electric cooling, vinyl flooring, patios, and a shingle roof.
The property occupies 0.23 acres at 1623-1703 S 12 ST in Fort Smith, Arkansas, with Multi Family zoning. The new construction carries a 2026 year built designation and an August 2026 completion date. Additional property features include electric cooling, vinyl flooring, patios, and a shingle roof.
Key Highlights
- Four‑unit quadplex with all four units rented
- Each unit includes 2 bedrooms, 1 bath, and a laundry room
- 3,296 square feet on a 0.23‑acre site
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
Property Profile
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four leased units offer two-bedroom layouts with private laundry rooms and contemporary interior finishes.
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 quadplex with all four units rented; Each unit includes 2 bedrooms, 1 bath, and a laundry room; 3,296 square feet on a 0.23‑acre site
