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    New Construction Townhomes in Centerton Title is generated by Realmo AI

    1951-1991 Lapis Avenue, Centerton, AR 72719

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    Claim this Listing
    New
    For Sale
    $1,734,480

    MULTI_FAMILY - Contemporary - Centerton, AR

    Property size:
    7,982 SF
    Lot size:
    0.54 Acres
    Price / SF:
    $217/SF
    Added:
    May 12, 2026
    Days on Market:
    3
    Last Refresh:
    May 14 at 4:06 am

    Property Features for 1951-1991 Lapis Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Property condition
    Under Construction
    Bedrooms
    15
    Bathrooms
    15
    Rooms
    Bedroom 11, Bedroom 5, Bedroom 4, Bathroom 13, Bedroom 8, Bathroom 3, Bedroom 10, Bathroom 10, Bedroom 3, Bathroom 15, Bathroom 14, Bathroom 2, Bedroom 7, Bathroom 4, Bedroom 1, Bedroom 9, Bedroom 12, Bedroom 15, Bathroom 6, Bathroom 5, Bathroom 9, Bedroom 14, Bedroom 2, Bathroom 11, Bathroom 12, Bathroom 8, Bathroom 1, Bedroom 13, Bedroom 6, Bathroom 7
    Parking features
    Open, Garage
    Patio and Porch features
    Patio, Porch
    Exterior features
    ConcreteDriveway
    Fireplace
    1
    Appliances
    Dishwasher, ElectricWaterHeater, Disposal, GasOven, GasRange, Microwave, RangeHood
    Standard status
    Active
    APN
    06-09269-000
    Size
    7,982 SF
    Lot size
    0.54 Acres

    Taxes and HOA fees

    Tax Description
    PLAT 3/28/2024 L202415156 CRYSTAL COVE PH II-CENTERTON OF 3/28/2024 L202415156 (AKA CRYSTAL COVE HORIZONTAL PROPERTY REGIME-MASTER DEED 3/28/2024 L202415158 & AMENDED MASTER DEED 5/14/2024 L202424714(BYLAWS EXHIBIT C PG 36)-SEE ADMIN NTS REGARDING
    Tax Annual Amount
    21472

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Central
    Cooling system
    Central Air, Electric
    Water source
    Public

    Building Details

    Year built
    2026
    Floors in Building
    2
    Number of units
    5
    Flooring type
    Carpet, Tile
    Building materials
    Brick, Concrete
    Roof type
    Shingle
    Architectural style
    Contemporary

    We can help!

    Listing Contact
    Colley Bailey
    Colley Bailey

    Listing agent Colley Bailey License #PB00076160

    Listing office Lone Rock Realty 649 E Huntsville, Fayetteville, AR

    Listing date May 12, 2026

    MLS# 1347080 Listing URL

    Copyright © 2026 ArkansasONE MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • New construction 5‑unit multifamily property (Crystal Cove Townhomes) designed for strong rental income and long‑term investment.
    • Each unit features a highly desirable main‑level primary suite, 3 bedrooms, and 2.5 baths.
    • Open‑concept living area with vaulted ceilings and an electric fireplace.
    • Private backyard space and covered patio for each unit, enhancing tenant appeal.
    • Reduced maintenance costs and strong income stability due to new construction.
    • Includes modern appliances: dishwasher, gas oven/range, microwave, range hood.

    Overview

    Crystal Cove Townhomes presents a new construction, 5-unit multifamily property designed for rental appeal and long-term performance. Each unit offers approximately 1,606 square feet of living space, featuring 3 bedrooms and 2.5 baths. A primary suite is located on the main level. The open-concept living area includes vaulted ceilings and an electric fireplace. Upstairs, there are two additional bedrooms, a full bath, and a loft-style overlook. Each unit also has a covered patio and a private backyard. The property, located in Centerton, AR 72719, consists of 5 units totaling 15 bedrooms. The property size is 7,982 square feet and the lot size is 0.54 acres. As a new construction, the property offers reduced maintenance and income stability.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Centerton
    County
    Benton
    State
    Arkansas
    Longitude
    -94.314274
    Latitude
    36.362801

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    FAQs

    What type of property is this?
    Apartment building - New 5-unit multifamily property with strong rental appeal.
    Where is this apartment building located?
    The property is located at 1951-1991 Lapis Avenue Centerton, AR.
    What is the asking price?
    The asking price for this property is $1,734,480.
    What are key features of this property?
    This property features: New construction 5‑unit multifamily property (Crystal Cove Townhomes) designed for strong rental income and long‑term investment.; Each unit features a highly desirable main‑level primary suite, 3 bedrooms, and 2.5 baths.; Open‑concept living area with vaulted ceilings and an electric fireplace.
    (479) 856-9422
    We can help!
    Listing Contact
    Colley Bailey
    Colley Bailey
    Real Estate License ID: PB00076160
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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