Cozy Cottages Investment
For Sale
$150,000
Pending
24 22nd ST, Van Buren, AR 72956
MULTI_FAMILY - Van Buren, AR
Property Size960 SF
Lot Size0.17 Acres
Days on Market1270
Property Features for 24 22nd ST
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Parking features
Assigned
Subdivision
Smith
Lot features
In Subdivision
Directions
Turn from Kibler Street onto S. 22nd Street
Standard status
Pending
APN
700-06735-000
Size
960 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Description
PER DOC#2017007215 FILED 8/4/2017: LOT 22 SMITH ADDITION TO THE CITY OF VAN BUREN, CRAWFORD COUNTY, ARKANSAS, ACCORDING TO SU
Tax Annual Amount
782
Legal Description
PER DOC#2017007215 FILED 8/4/2017: LOT 22 SMITH ADDITION TO THE CITY OF VAN BUREN, CRAWFORD COUNTY, ARKANSAS, ACCORDING TO SU
Utilities
Heating system
Electric (Heating)
Cooling system
Electric
Building Details
Year built
2017
Floors in Building
1
Number of units
2
Flooring type
Tile - Ceramic
Roof type
Shingle
Listing Agency:
Harmon Real Estate Company
(479) 546-0109
Listed By:
Joshua Harmon · License #PB00080746
(479) 719-0344
Added: Mar 1, 2023
Changed: Jul 9
Last Checked: Aug 22 at 11:06AM
MLS# 1063583
Copyright © 2026 Western River Valley Board of REALTORS®. 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.
This property features two cottages, each designed to maximize space with approximately 500 square feet per unit, totaling 960 square feet. The units offer residents the advantage of manageable space and independent living without shared walls. Currently, each unit is rented for $700. The owner is responsible for water expenses, while residents cover their electric bills. Located in Van Buren, Arkansas, the property sits on a lot of approximately 0.17 acres. Financial details and rent roll are available upon request, offering a clear overview of the investment potential.
Key Highlights
- Package of 2 cottages provides immediate rental income.
- Each cottage offers independent living with no shared walls.
- Manageable 500 SF units offer low‑maintenance living.
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
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
433
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two cottages in Van Buren, AR, generating rental income.
Where is this duplex located?
The property is located at 24 22nd ST 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: Package of 2 cottages provides immediate rental income.; Each cottage offers independent living with no shared walls.; Manageable 500 SF units offer low‑maintenance living.
