Three-Unit Triplex Income
For Sale
$235,000
2114 Keathley Drive, Conway, AR 72034
Triplex with three 2-bedroom, 1-bath units, fully occupied and generating gross monthly rental income.
Property Size2,208 SF
Price / SF$106.43
Days on Market76
Property Features for 2114 Keathley Drive
General Information
Standard status
Active
Size
2,208 SF
Property subtype
Multi Family Home
Zoning
R2
Occupancy
100%
Additional Details
Multifamily Units
3
Building Details
Year Built
1971
Stories
1
Units
3
Tenancy
Multi
Listing Agency:
Brick Real Estate
(870) 530-7262
Listed By:
Bryce Richardson · License #000086881
(870) 530-7262
Source:
Proeliterealty
Added: Jun 10
Changed: Aug 23
Last Checked: Aug 22 at 11:17AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Brick Real Estate
Investment Insights
Based on property information with market context.
This three-unit residential income property features a triplex configuration with three 2-bedroom, 1-bathroom units. Each unit offers 736 square feet, for a total rentable area of 2,208 square feet. The property is currently 100% occupied with rents set at $750 per unit.
Located at 2114 Keathley Drive in Conway, Arkansas (72032), the asset is positioned for investors seeking stabilized multifamily performance in a small-format format. Based on current occupancy and rent levels, the property generates $2,250 in gross monthly income and $27,000 annually.
The offering is listed for $235,000, representing a per-unit entry point for buyers looking at a three-unit triplex within Central Arkansas.
Located at 2114 Keathley Drive in Conway, Arkansas (72032), the asset is positioned for investors seeking stabilized multifamily performance in a small-format format. Based on current occupancy and rent levels, the property generates $2,250 in gross monthly income and $27,000 annually.
The offering is listed for $235,000, representing a per-unit entry point for buyers looking at a three-unit triplex within Central Arkansas.
Key Highlights
- Three‑unit triplex built in 1971 with three 2‑bedroom, 1‑bath units
- Total rentable area of 2,208 SF (736 SF per unit)
- Currently 100% occupied with $750 per unit monthly rent
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
$14,852
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
6.32%
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%
$297,040
$297.0K
Cap Rate 7%
$212,171
$212.2K
Cap Rate 9%
$165,022
$165.0K
Market Conditions
NOI Build-Up for 2,208 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
$22.5K $10.20/SF
− Vacancy
−$1.3K −$0.59/SF
EGI
$21.2K $9.61/SF
− OpEx
−$6.4K −$2.88/SF
NOI
$14.9K $6.73/SF
Area
Faulkner County, AR
Vacancy
5.79%
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%
$297,040
Cap Rate 7%
$212,171
Cap Rate 9%
$165,022
Alternative Uses
Best Use
Multifamily LT 5
$212.2K
$185.7K – $247.5K
NOI $14,852 @ 7.0% cap · market cap 6.32%
Second Best
Apartment 5plus
$189.6K
$165.9K – $221.2K
NOI $13,273 @ 7.0% cap · market cap 5.65%
Theoretical Best
Office A
$503.6K
$440.7K – $587.6K
NOI $35,253 @ 7.0% cap · market cap 15.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
246
Businesses Nearby
Explore this area
Business Placement
Demographics for 72034, AR
47,873
Population
22,523
Households
2.1
Avg Household Size
33
Median Age
44%
College-Educated
94%
High-School Grad
47.9 sq mi
ZIP Area
999
Density / Sq Mi
$61,675
Median Household Income
$40,511
Median Earnings
$993
Median Rent
$250,000
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?
Triplex - Triplex with three 2-bedroom, 1-bath units, fully occupied and generating gross monthly rental income.
Where is this triplex located?
The property is located at 2114 Keathley Drive Conway, AR.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: Three‑unit triplex built in 1971 with three 2‑bedroom, 1‑bath units; Total rentable area of 2,208 SF (736 SF per unit); Currently 100% occupied with $750 per unit monthly rent
