Two-Unit Duplex Near
New
For Sale
$152,500
240 Ash Street, Conway, AR 72034
Each residence offers one bedroom, one bathroom, and established long-term tenancy.
Property Size1,320 SF
Price / SF$115.53
Days on Market7
Property Features for 240 Ash Street
General Information
Standard status
Active
Size
1,320 SF
Property subtype
Multi-family
Units
Unit Mix
1 bed 1 bath
Multifamily Units
2
Additional Details
Average Monthly Rent
$725
Listing Agency:
Arkansas Real Estate Collective, Conway Branch
(501) 428-3120
Listed By:
Stefanie Schrekenhofer
(501) 428-3120
Source:
Heilesassociatesrealtors
Added: Aug 26
Changed: Aug 29
Last Checked: Aug 31 at 5:11PM
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 Arkansas Real Estate Collective, Conway Branch
Investment Insights
Based on property information with market context.
This duplex contains two residential units, each configured with one bedroom and one bathroom. The property totals 1,320 square feet and is occupied by long-term tenants, providing an existing income-producing setup.
Located at 240 Ash Street in Conway, the property is near the University of Central Arkansas and CBC. Monthly income is excluded from this description, but the current tenant profile and two-unit configuration are supported by the available information.
Located at 240 Ash Street in Conway, the property is near the University of Central Arkansas and CBC. Monthly income is excluded from this description, but the current tenant profile and two-unit configuration are supported by the available information.
Key Highlights
- Two‑unit duplex totaling 1,320 square feet
- Each unit includes 1 bedroom and 1 bathroom
- Long‑term tenants occupy the units
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
$8,879
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
5.82%
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%
$177,580
$177.6K
Cap Rate 7%
$126,843
$126.8K
Cap Rate 9%
$98,656
$98.7K
Market Conditions
NOI Build-Up for 1,320 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
$13.5K $10.20/SF
− Vacancy
−$780 −$0.59/SF
EGI
$12.7K $9.61/SF
− OpEx
−$3.8K −$2.88/SF
NOI
$8.9K $6.73/SF
Area
Faulkner County, AR
Vacancy
5.79%
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%
$177,580
Cap Rate 7%
$126,843
Cap Rate 9%
$98,656
Alternative Uses
Best Use
Multifamily LT 5
$126.8K
$111.0K – $148.0K
NOI $8,879 @ 7.0% cap · market cap 5.82%
Second Best
Apartment 5plus
$113.4K
$99.2K – $132.3K
NOI $7,935 @ 7.0% cap · market cap 5.20%
Theoretical Best
Office A
$301.1K
$263.4K – $351.3K
NOI $21,075 @ 7.0% cap · market cap 13.82%
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
454
Businesses Nearby
Explore this area
Business Placement
Demographics for 72034, AR
47,873
Population
22,523
Households
2.1
Avg Household Size
33
Median Age
44%
College-Educated
94%
High-School Grad
47.9 sq mi
ZIP Area
999
Density / Sq Mi
$61,675
Median Household Income
$40,511
Median Earnings
$993
Median Rent
$250,000
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 - Each residence offers one bedroom, one bathroom, and established long-term tenancy.
Where is this duplex located?
The property is located at 240 Ash Street Conway, AR.
What is the asking price?
The asking price for this property is $152,500.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,320 square feet; Each unit includes 1 bedroom and 1 bathroom; Long‑term tenants occupy the units
