Jonesboro Apartment Complex For
1906 W Matthews Avenue, Jonesboro, AR 72401
MULTI_FAMILY - Jonesboro, AR
Type:Apartment
Property size:
40,000 SFLot size:
3.53 AcresPrice / SF:
$118/SF- Added:
- May 6, 2025
- Days on Market:
- 382
- Last Refresh:
- May 22 at 1:06 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
MLS# 25017628
Listing URL
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
This apartment complex is located in Jonesboro, Arkansas, and is positioned near several large employers, including Riceland, ASU, and St. Bernard's. The multifamily property has undergone recent renovations. The roofs were replaced three years ago. Interior updates include new flooring, paint, and countertops. Some appliances have been replaced, and several new HVAC units and water heaters have been installed. The exterior of the buildings has also been repainted within the last three years. The property has a lot size of 3.53 acres and a building size of 40000 square feet.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$2.67M
NOI $239,947 @ 9.00% cap · cautious / downside scenario
Moderate
$3.43M
NOI $239,947 @ 7.00% cap · market / base-case scenario
Aggressive
$4.80M
NOI $239,947 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Apartment 5plus
| 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 |
40,000 SF · lease $11.64/SF/yr · vacancy 6.30% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$3.43M
$3.00M – $4.00M
NOI $239,947 @ 7.0% cap · market cap 5.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.00M
$6.13M – $8.17M
NOI $490,207 @ 7.0% cap · market cap 10.32%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Stratford Manor Apartments
Apartment Building
Location Insight
- Map
- Local Demand
- City
- Jonesboro
- County
- Craighead
- State
- Arkansas
- Longitude
- -90.733322
- Latitude
- 35.836428
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Apartment complex near major employers with recent renovations.
Where is this apartment building located?
The property is located at 1906 W Matthews Avenue Jonesboro, AR.
What is the asking price?
The asking price for this property is $4,750,000.
What are key features of this property?
This property features: 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.
