Mixed-Use Live/Work
For Sale
$349,900
203 S Neal Street, Prairie Grove, AR 72753
SINGLE_FAMILY - Prairie Grove, AR
Property Size2,600 SF
Lot Size0.31 Acres
Price / SF$134.58
Days on Market47
Property Features for 203 S Neal Street
General Information
Property type
Residential
Property subtype
Office
Exterior features
Storage
Appliances
GasWaterHeater, TanklessWaterHeater
Lot features
Corner Lot, City Lot, Neighborhood
Directions
Hwy 62 to Prairie Grove. At first stop light take a R. At stop sign at Harps take R on Buchannan, L on Neal, house will be on L.
Standard status
Active
APN
805-19559-000
Size
2,600 SF
Lot size
0.31 Acres
Taxes and HOA fees
Tax Description
WEST 40 FT OF NORTH 150 FT OF LOT 9 NORTH 150 FT LOT 10 BLOC
Tax Annual Amount
2596
Legal Description
WEST 40 FT OF NORTH 150 FT OF LOT 9 NORTH 150 FT LOT 10 BLOC
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Central
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1980
Flooring type
Vinyl, Carpet
Building materials
Masonite
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
Keller Williams Market Pro Realty · Keller Williams Realty
(479) 718-2800
Listed By:
Dave Hodges Team
(479) 777-8031
Added: Jun 15
Changed: Jul 11
Last Checked: Jul 31 at 1:06PM
MLS# 1349703
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.
Investment Insights
Based on property information with market context.
This updated mixed-use property is set on a prominent corner lot and is offered for residential, commercial, or live/work use. Improvements include paneling replaced with drywall, new flooring throughout, updated electrical and plumbing fixtures, new countertops, and a new kitchen sink. Landscaping and exterior enhancements support curb appeal, and the interior updates support a move-in-ready presentation.
The property is conveniently located near historic downtown and within one block of shops, restaurants, and other local amenities. It also benefits from proximity to the local fire department, supporting convenient access for daily needs.
With flexible mixed-use zoning, the layout supports a variety of residential and commercial arrangements while keeping the property versatile for different operating setups.
The property is conveniently located near historic downtown and within one block of shops, restaurants, and other local amenities. It also benefits from proximity to the local fire department, supporting convenient access for daily needs.
With flexible mixed-use zoning, the layout supports a variety of residential and commercial arrangements while keeping the property versatile for different operating setups.
Key Highlights
- Mixed‑use zoning allows residential, commercial, or live/work use.
- Prominent corner lot with recent updates, including paneling replaced with drywall and new flooring throughout.
- Kitchen updates include new countertops and a new kitchen sink.
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 | $40.6k | $15.60 |
| − Vacancy | −$2.9k | −$1.12 |
| EGI | $37.6k | $14.48 |
| − OpEx | −$16.9k | −$6.51 |
| NOI | $20.7k | $7.96 |
2,600 SF · lease $15.60/SF/yr · vacancy 7.20% · expense 45.00%
Alternative Uses
Best Use
Office B
$560.8K
$490.7K – $654.3K
NOI $39,256 @ 7.0% cap · market cap 11.22%
Second Best
Apartment 5plus
$295.7K
$258.8K – $345.0K
NOI $20,702 @ 7.0% cap · market cap 5.92%
Theoretical Best
Office A
$697.9K
$610.7K – $814.2K
NOI $48,852 @ 7.0% cap · market cap 13.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
230
Businesses Nearby
Explore this area
Business Placement
Demographics for 72753, AR
10,525
Population
4,078
Households
2.6
Avg Household Size
37
Median Age
20%
College-Educated
92%
High-School Grad
89.2 sq mi
ZIP Area
118
Density / Sq Mi
$64,701
Median Household Income
$40,264
Median Earnings
$911
Median Rent
$227,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Single family property - Updated mixed-use property on a prominent corner lot with recent interior upgrades and exterior landscaping enhancements.
Where is this single family property located?
The property is located at 203 S Neal Street Prairie Grove, AR.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Mixed‑use zoning allows residential, commercial, or live/work use.; Prominent corner lot with recent updates, including paneling replaced with drywall and new flooring throughout.; Kitchen updates include new countertops and a new kitchen sink.
