Detached Duplex
For Sale
$150,000
Pending
24 22nd Street, Van Buren, AR 72956
Two separate rental cottages offer individual living spaces, assigned parking, and a 2017 construction date.
Property Size960 SF
Days on Market1303
Property Features for 24 22nd Street
General Information
Standard status
Pending
Size
960 SF
Property subtype
Apartment
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$782
Amenities
Electric
3
Ceramic Tile
Electric Dryer, None
Shingle, Composition Shingle
No Fence, Brick Wall
Parking.
Assigned Parking Space.
Brick
50x145
Community Maintenance.
Building Details
Year Built
2017
Buildings
2
Stories
1
Listing Agency:
(479) 546-0109
Listed By:
Harmon Real Estate Company
(479) 719-0344
Source:
Xome
Added: Feb 6, 2023
Changed: Aug 31
Last Checked: Aug 31 at 3:19PM
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 Harmon Real Estate Company
Investment Insights
Based on property information with market context.
This duplex consists of two separate brick cottages built in 2017, giving each residence its own living space without shared interior walls. Ceramic tile, electric service, and assigned parking are among the property features. The buildings are positioned on a 50-by-145-foot parcel with a brick wall along the exterior.
Located at 24 22nd Street in Van Buren, Arkansas, the property is configured as a residential income asset. Water service is paid by the owner, while residents are responsible for their own electric service. Community maintenance is also identified among the exterior property features.
Located at 24 22nd Street in Van Buren, Arkansas, the property is configured as a residential income asset. Water service is paid by the owner, while residents are responsible for their own electric service. Community maintenance is also identified among the exterior property features.
Key Highlights
- Two separate cottages comprise the duplex
- Built in 2017 with brick construction
- Ceramic tile and electric service
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
$6,412
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
4.27%
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%
$128,240
$128.2K
Cap Rate 7%
$91,600
$91.6K
Cap Rate 9%
$71,244
$71.2K
Market Conditions
NOI Build-Up for 960 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
$9.8K $10.20/SF
− Vacancy
−$633 −$0.66/SF
EGI
$9.2K $9.54/SF
− OpEx
−$2.7K −$2.86/SF
NOI
$6.4K $6.68/SF
Area
Crawford County, AR
Vacancy
6.46%
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%
$128,240
Cap Rate 7%
$91,600
Cap Rate 9%
$71,244
Alternative Uses
Best Use
Multifamily LT 5
$91.6K
$80.2K – $106.9K
NOI $6,412 @ 7.0% cap · market cap 4.27%
Second Best
Apartment 5plus
$84.4K
$73.8K – $98.4K
NOI $5,905 @ 7.0% cap · market cap 3.94%
Theoretical Best
Office A
$184.1K
$161.1K – $214.7K
NOI $12,884 @ 7.0% cap · market cap 8.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
386
Businesses Nearby
Explore this area
Business Placement
Demographics for 72956, AR
33,870
Population
14,119
Households
2.4
Avg Household Size
39
Median Age
19%
College-Educated
87%
High-School Grad
103.8 sq mi
ZIP Area
326
Density / Sq Mi
$60,387
Median Household Income
$33,894
Median Earnings
$825
Median Rent
$177,100
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 - Two separate rental cottages offer individual living spaces, assigned parking, and a 2017 construction date.
Where is this duplex located?
The property is located at 24 22nd Street Van Buren, AR.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: Two separate cottages comprise the duplex; Built in 2017 with brick construction; Ceramic tile and electric service
