Multifamily Duplex
For Sale
Contact for pricing
1900 Dave Ward Drive, Conway, AR 72034
Clustered residential income property near retail, employers, and the University of Central Arkansas.
Property Size10,680 SF
Price / SF$93.63
Days on Market128
Property Features for 1900 Dave Ward Drive
General Information
Standard status
Active
Size
10,680 SF
Property subtype
Multifamily
Additional Details
Road Access
Yes
Multifamily Units
8
Building Details
Buildings
4
Listing Agency:
Brick Real Estate
(870) 530-7262
Listed By:
Bryce Richardson · License #000086881
Source:
Crexi
Added: Apr 27
Changed: Aug 30
Last Checked: Aug 30 at 11:11PM
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 Brick Real Estate
Investment Insights
Based on property information with market context.
This multifamily offering comprises four duplexes containing eight total units along Dave Ward Drive. The clustered configuration places the residences within the same operating area and creates a consolidated portfolio rather than dispersed individual assets.
Dave Ward Drive is identified as a primary east-west thoroughfare in Conway, Arkansas, with nearby retail density and ongoing development. Residents are positioned near national retailers, major employers, the University of Central Arkansas, and Conway’s principal commercial corridor. The property is located at 1900 Dave Ward Drive, Conway, AR 72034.
Dave Ward Drive is identified as a primary east-west thoroughfare in Conway, Arkansas, with nearby retail density and ongoing development. Residents are positioned near national retailers, major employers, the University of Central Arkansas, and Conway’s principal commercial corridor. The property is located at 1900 Dave Ward Drive, Conway, AR 72034.
Key Highlights
- Four duplexes with 8 total units
- Clustered multifamily assets along Dave Ward Drive
- Located on a primary east‑west thoroughfare in Conway
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
$71,840
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
7.18%
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%
$1,436,800
$1.4M
Cap Rate 7%
$1,026,286
$1.0M
Cap Rate 9%
$798,222
$798.2K
Market Conditions
NOI Build-Up for 10,680 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
$108.9K $10.20/SF
− Vacancy
−$6.3K −$0.59/SF
EGI
$102.6K $9.61/SF
− OpEx
−$30.8K −$2.88/SF
NOI
$71.8K $6.73/SF
Area
Faulkner County, AR
Vacancy
5.79%
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%
$1,436,800
Cap Rate 7%
$1,026,286
Cap Rate 9%
$798,222
Alternative Uses
Best Use
Multifamily LT 5
$1.03M
$898.0K – $1.20M
NOI $71,840 @ 7.0% cap · market cap 7.18%
Second Best
Apartment 5plus
$917.2K
$802.5K – $1.07M
NOI $64,203 @ 7.0% cap · market cap 6.42%
Theoretical Best
Office A
$2.44M
$2.13M – $2.84M
NOI $170,519 @ 7.0% cap · market cap 17.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
407
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?
Duplex - Clustered residential income property near retail, employers, and the University of Central Arkansas.
Where is this duplex located?
The property is located at 1900 Dave Ward Drive Conway, AR.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Four duplexes with 8 total units; Clustered multifamily assets along Dave Ward Drive; Located on a primary east‑west thoroughfare in Conway
