Remodeled Four-Unit
New
For Sale
$665,000
2130 2134 2142 21 E Frazier Terrace, Fayetteville, AR 72703
Updated multifamily property with matching residences, appliances, and laundry equipment included.
Property Size4,352 SF
Price / SF$152.80
Days on Market5
Property Features for 2130 2134 2142 21 E Frazier Terrace
General Information
Standard status
Active
Size
4,352 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x 2BR/1.5BA
Multifamily Units
4
Additional Details
Highway Access
Yes
Building Details
Year Built
1989
Buildings
1
Listing Agency:
Keller Williams Market Pro Realty
Listed By:
Jody Cohen · License #02880
(479) 718-2800
Source:
Mcmullenrealtynwa
Added: Sep 9
Last Checked: Sep 13 at 4:56AM
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 Keller Williams Market Pro Realty
Investment Insights
Based on property information with market context.
Built in 1989, this 4,352 SF quadplex contains four 2-bedroom, 1.5-bathroom residences with matching layouts. Improvements include a newer roof, select HVAC systems, flooring, interior paint, refinished cabinetry, granite countertops, and updated lighting and plumbing fixtures. Kitchen appliances, including refrigerators, are updated, and washers and dryers convey with the property.
Two of the four units are leased, while the remaining availability provides an owner-occupancy option. The property is near Lake Fayetteville, the Botanical Gardens, FAC, NW Arkansas Mall, grocery stores, restaurants, shopping, trails, and other everyday amenities. Fayetteville uptown and I-49 are accessible from the property, and the University of Arkansas is roughly a 12-minute drive away.
Two of the four units are leased, while the remaining availability provides an owner-occupancy option. The property is near Lake Fayetteville, the Botanical Gardens, FAC, NW Arkansas Mall, grocery stores, restaurants, shopping, trails, and other everyday amenities. Fayetteville uptown and I-49 are accessible from the property, and the University of Arkansas is roughly a 12-minute drive away.
Key Highlights
- 4,352 SF quadplex built in 1989
- Four 2‑bedroom, 1.5‑bathroom units with matching layouts
- Updates include newer roof, select HVAC systems, flooring, paint, cabinetry, granite, lighting, and plumbing fixtures
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
$39,165
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
5.89%
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%
$783,300
$783.3K
Cap Rate 7%
$559,500
$559.5K
Cap Rate 9%
$435,167
$435.2K
Market Conditions
NOI Build-Up for 4,352 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
$60.1K $13.80/SF
− Vacancy
−$4.1K −$0.94/SF
EGI
$55.9K $12.86/SF
− OpEx
−$16.8K −$3.86/SF
NOI
$39.2K $9.00/SF
Area
Washington County, AR
Vacancy
6.84%
Lease Rate
$13.80 /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%
$783,300
Cap Rate 7%
$559,500
Cap Rate 9%
$435,167
Alternative Uses
Best Use
Multifamily LT 5
$559.5K
$489.6K – $652.8K
NOI $39,165 @ 7.0% cap · market cap 5.89%
Second Best
Apartment 5plus
$495.0K
$433.2K – $577.5K
NOI $34,652 @ 7.0% cap · market cap 5.21%
Theoretical Best
Office A
$1.17M
$1.02M – $1.36M
NOI $81,770 @ 7.0% cap · market cap 12.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
916
Businesses Nearby
Explore this area
Business Placement
Demographics for 72703, AR
33,767
Population
17,202
Households
2
Avg Household Size
33
Median Age
49%
College-Educated
96%
High-School Grad
40.2 sq mi
ZIP Area
840
Density / Sq Mi
$60,232
Median Household Income
$39,190
Median Earnings
$958
Median Rent
$341,700
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?
Quadplex - Updated multifamily property with matching residences, appliances, and laundry equipment included.
Where is this quadplex located?
The property is located at 2130 2134 2142 21 E Frazier Terrace Fayetteville, AR.
What is the asking price?
The asking price for this property is $665,000.
What are key features of this property?
This property features: 4,352 SF quadplex built in 1989; Four 2‑bedroom, 1.5‑bathroom units with matching layouts; Updates include newer roof, select HVAC systems, flooring, paint, cabinetry, granite, lighting, and plumbing fixtures
