New Construction
For Sale
$239,000
1921 N 12 ST, Fort Smith, AR 72903
Multifamily, Fort Smith, AR
Property Size1,648 SF
Lot Size0.16 Acres
Price / SF$145.02
Days on Market219
Property Features for 1921 N 12 ST
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Zoning
Multi Family
Bedrooms
4
Rooms
Bedroom 1, Bedroom 3, Bedroom 2, Bedroom 4
Window features
Double Pane Windows, Vinyl Frames
Patio and Porch features
Porch
Appliances
Dishwasher, Garbage Disposal, Microwave, Range, Refrigerator
Subdivision
Fishback#2
Lot features
In Subdivision, Landscaped, Level, South Facing
Elementary school
Howard
Middle school
Darby
High school
Northside
Elementary school district
Fort Smith
Middle school district
Fort Smith
High school district
Fort Smith
Directions
Go North on Greenwood Ave, turn left on N 12th St. before you get to Midland. Duplex is on the right.
Standard status
Active
APN
12729-0014-00003-00
Size
1,648 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Description
Lot 13
Tax Annual Amount
1325
Legal Description
Lot 13
Utilities
Heating system
Electric (Heating)
Cooling system
Electric
Amenities
laundry room
Building Details
Year built
2025
Floors in Building
1
Number of units
2
Flooring type
Vinyl
Roof type
Shingle
Listing Agency:
Keller Williams Platinum Realty · Keller Williams Realty
(479) 434-3000
Listed By:
Tina LaRoche
(479) 434-3000
Added: Jan 13
Changed: Aug 19
Last Checked: Aug 20 at 5:06AM
MLS# 1086558
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.
New construction duplex at 1921 N 12 ST, Fort Smith, AR 72903, on a 0.16-acre lot. The duplex is under construction with an expected completion date of December 2025. Both sides are described as rented. Each unit is configured with two bedrooms, one full bath, and a dedicated laundry room.
Interiors are planned with modern finishes including open kitchen layouts, quartz countertops, and LVP flooring throughout. Appliances listed for the units include a refrigerator, range, dishwasher, and microwave, with heating and cooling provided electrically. The property also includes a porch.
The duplex is listed as 1,648 square feet and is constructed with a shingle roof. Built in 2025 with vinyl flooring, it offers a straightforward two-unit residential income layout.
Interiors are planned with modern finishes including open kitchen layouts, quartz countertops, and LVP flooring throughout. Appliances listed for the units include a refrigerator, range, dishwasher, and microwave, with heating and cooling provided electrically. The property also includes a porch.
The duplex is listed as 1,648 square feet and is constructed with a shingle roof. Built in 2025 with vinyl flooring, it offers a straightforward two-unit residential income layout.
Key Highlights
- 0.16‑acre lot duplex in Fort Smith, AR
- Expected completion: December 2025 (under construction)
- Both sides rented; two‑bedroom, one‑full‑bath layout per unit
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
$10,929
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
4.57%
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%
$218,580
$218.6K
Cap Rate 7%
$156,129
$156.1K
Cap Rate 9%
$121,433
$121.4K
Market Conditions
NOI Build-Up for 1,648 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
$16.8K $10.20/SF
− Vacancy
−$1.2K −$0.73/SF
EGI
$15.6K $9.47/SF
− OpEx
−$4.7K −$2.84/SF
NOI
$10.9K $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%
$218,580
Cap Rate 7%
$156,129
Cap Rate 9%
$121,433
Alternative Uses
Best Use
Multifamily LT 5
$156.1K
$136.6K – $182.2K
NOI $10,929 @ 7.0% cap · market cap 4.57%
Second Best
Apartment 5plus
$139.4K
$122.0K – $162.7K
NOI $9,759 @ 7.0% cap · market cap 4.08%
Theoretical Best
Healthcare Medical
$350.6K
$306.8K – $409.1K
NOI $24,544 @ 7.0% cap · market cap 10.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
353
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
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Frequently Asked Questions
What type of property is this?
Duplex - Under-construction duplex with both sides rented, featuring two bedrooms per unit, electric heating and cooling.
Where is this duplex located?
The property is located at 1921 N 12 ST Fort Smith, AR.
What is the asking price?
The asking price for this property is $239,000.
What are key features of this property?
This property features: 0.16‑acre lot duplex in Fort Smith, AR; Expected completion: December 2025 (under construction); Both sides rented; two‑bedroom, one‑full‑bath layout per unit
