Craftsman Duplex with Carport
For Sale
Under Contract
$152,500
240 Ash Street, Conway, AR 72034
MULTI_FAMILY - Conway, AR
Property Size1,320 SF
Lot Size0.10 Acres
Price / SF$115.53
Days on Market158
Property Features for 240 Ash Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Carport
Appliances
Free-Standing Stove, Free-Standing Stove
Subdivision
Boulevard
Lot features
Level
Directions
Head west on Bruce Street and take left on Ash, duplex is on the left
Standard status
Active Under Contract
Size
1,320 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Description
Lot 4 Blk 65 Boulevard Add W9
Tax Annual Amount
1304
Legal Description
Lot 4 Blk 65 Boulevard Add W9
Building Details
Year built
1937
Floors in Building
1
Number of units
2
Flooring type
Laminate, Carpet - Partial
Roof type
Composition
Architectural style
Craftsman
Listing Agency:
Arkansas Real Estate Collective, Conway Branch
(501) 499-2097
Listed By:
Stefanie Schrekenhofer
(501) 428-3120
Added: Mar 16
Changed: Aug 6
Last Checked: Aug 20 at 2:06AM
MLS# 26010088
Copyright © 2026 Cooperative Arkansas Realtors Multiple Listing Service. 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 Craftsman duplex offers two residential units on a 0.1-acre lot. The property includes one bedroom and one bathroom in each unit. Flooring includes laminate and partial carpet, and each unit is equipped with a free-standing stove. Parking is provided via a carport.
Built in 1937, the property has a composition roof and features a straightforward duplex configuration designed for day-to-day occupancy.
With its compact footprint and functional unit layout, this duplex can appeal to buyers seeking a small residential income property with consistent 1 bed/1 bath unit planning across both sides.
Built in 1937, the property has a composition roof and features a straightforward duplex configuration designed for day-to-day occupancy.
With its compact footprint and functional unit layout, this duplex can appeal to buyers seeking a small residential income property with consistent 1 bed/1 bath unit planning across both sides.
Key Highlights
- 0.1‑acre lot duplex with two 1 bed/1 bath units
- 1,320 SF duplex property size
- Built in 1937 with Craftsman style and composition roof
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
680
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 - Craftsman duplex with carport parking, laminate and partial carpet flooring, and free-standing stoves in each unit.
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: 0.1‑acre lot duplex with two 1 bed/1 bath units; 1,320 SF duplex property size; Built in 1937 with Craftsman style and composition roof
