1906 W Matthews Avenue, Jonesboro, AR 72401
MULTI_FAMILY - Jonesboro, AR
- Added:
- May 6, 2025
- Days on Market:
- 427
- Last Refresh:
- Jul 6 at 3:06 am
Property Features for 1906 W Matthews Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Apartment
- Interior features
- Washer Connection, Dryer Connection-Electric, Hot Water Heater-Gas, Smoke Detector, Fan - Ceiling
- Exterior features
- Partially Fenced, Storage Building, Outside Storage Area, Dumpster, Wood Fence, Video Surveillance
- Fencing
- Partial, Wood
- Appliances
- Free-Standing Stove, Dishwasher, Free-Standing Stove, Dishwasher
- Standard status
- Active
- Size
- 40,000 SF
- Lot size
- 3.53 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Description
- STRATFORD HEIGHTS 1ST REPLAT+
- Tax Annual Amount
- 26026
Building Details
- Year built
- 1978
- Floors in Building
- 2
- Number of units
- 48
- Flooring type
- Vinyl
- Roof type
- Shingle
- Additional Structures
- Storage
Listing agent William Gay (870) 972-9191
Listing office Halsey Real Estate 301 W Washington Ave, Suite 200, Jonesboro, AR (870) 972-9191
Listing date May 6, 2025
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.
HighLights
- Close proximity to major employers like Riceland, ASU, and St. Bernard's.
- Recent renovations include new flooring, paint, and countertops, plus some new appliances, HVAC units and water heaters.
- Relatively new roofs, only three years old.
- Exterior repainted within the last three years.
- Washer and dryer connections available.
- Video surveillance for added security.
Overview
The property sits on a 3.53-acre site and totals about 40,000 square feet. It is described as being close to several large employers in the Jonesboro area, including Riceland, Arkansas State University (ASU), and St. Bernard’s.
For prospective buyers or operators, the recent capital improvements highlighted in the remarks can help reduce near-term maintenance concerns tied to roofs, interior finishes, and select mechanical equipment. The combination of updated exteriors, refreshed interiors, and multiple newer HVAC and water heaters may be useful for those evaluating multifamily investment opportunities or planning property management with a focus on maintaining unit readiness.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $465.6k | $11.64 |
| − Vacancy | −$29.3k | −$0.73 |
| EGI | $436.3k | $10.91 |
| − OpEx | −$196.3k | −$4.91 |
| NOI | $239.9k | $6.00 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Jonesboro
- County
- Craighead
- State
- Arkansas
- Longitude
- -90.733322
- Latitude
- 35.836428
