Three-Bedroom
For Sale
$300,000
Pending
22037 Cheryl Drive, Siloam Springs, AR 72761
MULTI_FAMILY - Siloam Springs, AR
Property Size2,376 SF
Lot Size0.36 Acres
Days on Market47
Property Features for 22037 Cheryl Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 1, Bedroom 3, Bedroom 2, Bathroom 2
Parking features
Open, Garage
Exterior features
ConcreteDriveway
Appliances
GasWaterHeater
Subdivision
Crossings, The Rurban
Lot features
Cleared, Level, Outside City Limits, Open Lot
Directions
From the intersection of Hwy 59 and Hwy 412 in Siloam Springs, head north on Hwy 59 (Arkansas 59) for about 2.5 miles. Turn left onto Davidson Rd, and then navigate into the neighborhood to find Cheryl Dr.
Standard status
Pending
APN
15-15416-000
Size
2,376 SF
Lot size
0.36 Acres
Taxes and HOA fees
Tax Annual Amount
1855
Utilities
Heating system
Central, Natural Gas
Cooling system
Central Air
Amenities
fenced in back yard
Building Details
Year built
2000
Floors in Building
1
Number of units
2
Flooring type
Tile, Carpet
Building materials
VinylSiding
Roof type
Shingle
Listing Agency:
Benton County Realty
(479) 787-5100
Listed By:
Larry Boling · License #SA00039551
(479) 790-5604
Added: Jul 9
Changed: Aug 3
Last Checked: Aug 24 at 8:06PM
MLS# 1354802
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.
Duplex on 0.36 acres with 2,376 sq ft and two matching units, each featuring three bedrooms and two bathrooms. The property was built in 2000 and is finished with vinyl siding and a shingle roof. Heating and cooling are provided by central systems with natural gas service and central air.
One side has a long term tenant in place. The second unit has been completely remodeled, including new carpet, new paint, new kitchen cabinets, new countertops, updated bathroom vanities, and new light fixtures and fans. Exterior features include a concrete driveway and a fenced-in back yard.
Parking is available with open parking and a garage. The home includes a gas water heater. Appliances and finishes are consistent with a straightforward two-unit layout intended for both owner occupancy and rental income.
One side has a long term tenant in place. The second unit has been completely remodeled, including new carpet, new paint, new kitchen cabinets, new countertops, updated bathroom vanities, and new light fixtures and fans. Exterior features include a concrete driveway and a fenced-in back yard.
Parking is available with open parking and a garage. The home includes a gas water heater. Appliances and finishes are consistent with a straightforward two-unit layout intended for both owner occupancy and rental income.
Key Highlights
- Two 3‑bedroom, 2‑bath units in a 2,376 sq ft duplex
- 0.36‑acre lot with fenced‑in back yard
- One side with a long term tenant in place
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
$21,687
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
7.23%
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%
$433,740
$433.7K
Cap Rate 7%
$309,814
$309.8K
Cap Rate 9%
$240,967
$241.0K
Market Conditions
NOI Build-Up for 2,376 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
$32.8K $13.80/SF
− Vacancy
−$1.8K −$0.76/SF
EGI
$31.0K $13.04/SF
− OpEx
−$9.3K −$3.91/SF
NOI
$21.7K $9.13/SF
Area
Benton County, AR
Vacancy
5.51%
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%
$433,740
Cap Rate 7%
$309,814
Cap Rate 9%
$240,967
Alternative Uses
Best Use
Multifamily LT 5
$309.8K
$271.1K – $361.5K
NOI $21,687 @ 7.0% cap · market cap 7.23%
Second Best
Apartment 5plus
$276.4K
$241.9K – $322.5K
NOI $19,351 @ 7.0% cap · market cap 6.45%
Theoretical Best
Office A
$652.9K
$571.3K – $761.8K
NOI $45,706 @ 7.0% cap · market cap 15.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
13
Businesses Nearby
Explore this area
Business Placement
Demographics for 72761, AR
23,731
Population
9,101
Households
2.6
Avg Household Size
33
Median Age
29%
College-Educated
86%
High-School Grad
114.1 sq mi
ZIP Area
208
Density / Sq Mi
$69,620
Median Household Income
$35,724
Median Earnings
$936
Median Rent
$218,700
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?
Duplex - Duplex with central natural gas HVAC, vinyl siding, and a remodeled unit plus a long-term tenant on the other side.
Where is this duplex located?
The property is located at 22037 Cheryl Drive Siloam Springs, AR.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Two 3‑bedroom, 2‑bath units in a 2,376 sq ft duplex; 0.36‑acre lot with fenced‑in back yard; One side with a long term tenant in place
