Apartment Building with Updated
For Sale
$2,100,000
1839 Tyler Street, Conway, AR 72034
MULTI_FAMILY - Conway, AR
Property Size17,617 SF
Lot Size2.00 Acres
Price / SF$119.20
Days on Market473
Property Features for 1839 Tyler Street
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Subdivision
Tyler
Lot features
Level
Directions
Located at 1839 Tyler Street in Conway Faulkner County Arkansas.
Standard status
Active
Size
17,617 SF
Lot size
2.00 Acres
Taxes and HOA fees
Tax Description
SW NW LOT 3
Legal Description
SW NW LOT 3
Building Details
Year built
1999
Floors in Building
1
Number of units
19
Roof type
Shingle
Architectural style
Other
Listing Agency:
Moses Tucker Partners
(501) 376-6555
Listed By:
Clint Bailey · License #SA00073895
(501) 358-8280
Added: Apr 22, 2025
Changed: Aug 4
Last Checked: Aug 7 at 5:06AM
MLS# 25015582
Copyright © 2026 Cooperative Arkansas Realtors Multiple Listing Service. 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.
Built in 1999, this apartment property contains 19 units across 17,617 square feet on 2 acres. Seventeen units feature wood-look tile flooring and coordinated interior paint. Property improvements also include a shingle roof installed in 2021, refreshed exterior columns, and renovated corridors with new doors, paint, flooring, and upgraded lighting. Unit doors have been repainted and renumbered, while water shutoffs were upgraded with ball valves. LED fixtures were added at all front entrances, and the landscaping was replaced with low-maintenance rock.
The complex is fully occupied and located near Hendrix College, The Village at Hendrix, and downtown Conway. Its combination of updated unit interiors, refreshed common areas, and recent exterior work provides a well-maintained multifamily asset with established occupancy.
The complex is fully occupied and located near Hendrix College, The Village at Hendrix, and downtown Conway. Its combination of updated unit interiors, refreshed common areas, and recent exterior work provides a well-maintained multifamily asset with established occupancy.
Key Highlights
- 19‑unit multifamily complex on 2 acres
- 17,617 square feet built in 1999
- 17 of 19 units updated with wood‑look tile flooring and coordinated paint
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
$105,904
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
5.04%
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%
$2,118,080
$2.1M
Cap Rate 7%
$1,512,914
$1.5M
Cap Rate 9%
$1,176,711
$1.2M
Market Conditions
NOI Build-Up for 17,617 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
$205.1K $11.64/SF
− Vacancy
−$12.5K −$0.71/SF
EGI
$192.6K $10.93/SF
− OpEx
−$86.6K −$4.92/SF
NOI
$105.9K $6.01/SF
Area
Faulkner County, AR
Vacancy
6.10%
Lease Rate
$11.64 /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%
$2,118,080
Cap Rate 7%
$1,512,914
Cap Rate 9%
$1,176,711
Alternative Uses
Best Use
Apartment 5plus
$1.51M
$1.32M – $1.77M
NOI $105,904 @ 7.0% cap · market cap 5.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.02M
$3.52M – $4.69M
NOI $281,277 @ 7.0% cap · market cap 13.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
19
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
199
Businesses Nearby
Explore this area
Business Placement
Demographics for 72034, AR
47,873
Population
22,523
Households
2.1
Avg Household Size
33
Median Age
44%
College-Educated
94%
High-School Grad
47.9 sq mi
ZIP Area
999
Density / Sq Mi
$61,675
Median Household Income
$40,511
Median Earnings
$993
Median Rent
$250,000
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?
Apartment building - Updated interiors and common areas serve a fully occupied apartment community near Hendrix College and downtown Conway.
Where is this apartment building located?
The property is located at 1839 Tyler Street Conway, AR.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: 19‑unit multifamily complex on 2 acres; 17,617 square feet built in 1999; 17 of 19 units updated with wood‑look tile flooring and coordinated paint
