Three-Unit Apartment
216 E Spring Street, Fayetteville, AR 72701
For Sale
$650,000
Residential, Fayetteville, AR
Property Size3,072 SF
Lot Size0.11 Acres
Price / SF$211.59
Days on Market189
Property Features for 216 E Spring Street
General Information
Property type
Property subtype
Zoning description
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking features
Exterior features
Appliances
Subdivision
Lot features
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Utilities
Heating system
Cooling system
Building Details
Year built
Floors in Building
Number of units
Flooring type
Building materials
Roof type
Listing Agency:
Navigate Real Estate
Listed By:
Jackson Williams · License AR PB00059990
(479) 841-3639
Added: May 6
Changed: Nov 10
Last Checked: Nov 10 at 9:06AM
MLS# 1342931
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.
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Investment Insights
Based on property information with market context.
This 3,072-square-foot triplex was built in 1941 on a 0.1113-acre lot and contains three separate residential units. The property includes large-room layouts, wood, concrete, and carpet flooring, wood siding, asphalt shingle roofing, central electric heating and cooling, and assigned parking supported by a concrete driveway. Appliances include refrigerators, washers, dryers, and electric water heaters.
Located at 216 E Spring Street in Fayetteville, the property sits one block south of N College and three blocks from Dickson Street and the Fayetteville Square. All three units are tenant occupied and currently leased. Interior access is available after a pre-approved contract is in place, with instructions to avoid disturbing residents.
Located at 216 E Spring Street in Fayetteville, the property sits one block south of N College and three blocks from Dickson Street and the Fayetteville Square. All three units are tenant occupied and currently leased. Interior access is available after a pre-approved contract is in place, with instructions to avoid disturbing residents.
Key Highlights
- Three‑unit apartment property totaling 3,072 square feet
- 0.1113‑acre lot at 216 E Spring Street, Fayetteville, AR 72701
- Built in 1941 with wood siding and asphalt shingle roofing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,646
Cap Rate
4.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$552,920
$552.9K
Cap Rate 7%
$394,943
$394.9K
Cap Rate 9%
$307,178
$307.2K
Market Conditions
NOI Build-Up for 3,072 SF
Gross rent
$42.4K $13.80/SF
− Vacancy
−$2.9K −$0.94/SF
EGI
$39.5K $12.86/SF
− OpEx
−$11.8K −$3.86/SF
NOI
$27.6K $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 Rate 5%
$552,920
Cap Rate 7%
$394,943
Cap Rate 9%
$307,178
Alternative Uses
Best Use
Multifamily LT 5
$394.9K
$345.6K – $460.8K
NOI $27,646 @ 7.0% cap · market cap 4.25%
Second Best
Apartment 5plus
$349.4K
$305.8K – $407.7K
NOI $24,460 @ 7.0% cap · market cap 3.76%
Theoretical Best
Office A
$824.6K
$721.5K – $962.0K
NOI $57,720 @ 7.0% cap · market cap 8.88%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,901
Businesses Nearby
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Business Placement
Demographics for 72701, AR
48,269
Population
20,057
Households
2.4
Avg Household Size
28
Median Age
42%
College-Educated
93%
High-School Grad
126.0 sq mi
ZIP Area
383
Density / Sq Mi
$50,413
Median Household Income
$27,305
Median Earnings
$973
Median Rent
$323,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Currently leased residences with assigned parking and a walkable downtown Fayetteville setting.
Where is this triplex located?
The property is located at 216 E Spring Street Fayetteville, AR.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Three‑unit apartment property totaling 3,072 square feet; 0.1113‑acre lot at 216 E Spring Street, Fayetteville, AR 72701; Built in 1941 with wood siding and asphalt shingle roofing
