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    Versatile Riverfront Multi-Family Property Title is generated by Realmo AI

    249 & 250 River Drive, Oden, AR 71961

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    For Sale
    $295,000

    MULTI_FAMILY - Oden, AR

    Property size:
    2,700 SF
    Lot size:
    9.27 Acres
    Price / SF:
    $109/SF
    Added:
    Feb 5, 2025
    Days on Market:
    471
    Last Refresh:
    May 22 at 1:06 am

    Property Features for 249 & 250 River Drive

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    5
    Bathrooms
    3
    Rooms
    Bedroom 2, Bedroom 4, Bedroom 1, Bathroom 1, Bathroom 3, Bedroom 3, Bedroom 5, Bathroom 2
    Parking features
    Carport
    Appliances
    Free-Standing Stove, Microwave, Refrigerator-Stays, Free-Standing Stove, Microwave, Refrigerator-Stays
    Standard status
    Active
    APN
    086-00031-001 01
    Size
    2,700 SF
    Lot size
    9.27 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Description
    PT NW SE N/2 OF THE W 102 YDS
    Tax Annual Amount
    332

    Utilities

    Water front
    1

    Building Details

    Year built
    2004
    Floors in Building
    2
    Number of units
    2
    Flooring type
    Tile, Wood
    Architectural style
    Craftsman

    We can help!

    Listing Contact
    Nancy Bergeron

    Listing agent Nancy Bergeron

    Listing office Keller Williams Realty The Bergeron Group 801 Central Ave., Suite 30, Hot Springs, AR

    Listing date Feb 5, 2025

    MLS# 25004832 Listing URL

    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.

    HighLights

    • 9.25 acres with Ouachita River access and views
    • Two homes: a 3‑bedroom main home (built in 2004) and a 2‑bedroom home (circa 1900) with restoration potential
    • Multiple outbuildings including carports, garages, and pole sheds for ample storage and workspace
    • Versatile property suitable for primary residence, rental income, homesteading, or multi‑generational living
    • Partially fenced property suitable for gardening, livestock, or additional home sites
    • Main home features a durable metal exterior, spacious deck, and elevated storage/storm shelter

    Overview

    This 9.25-acre property in Oden, AR, features views of and access to the Ouachita River. It is suitable for a primary residence, rental income, homesteading, multi-generational living, or future development. The main home, built in 2004, offers approximately 1,128 square feet with a metal exterior, 3 bedrooms, and 1.5 baths. It includes an elevated structure for storage or storm shelter and a spacious deck with scenic views. The home is accessible from River Drive and Black Cherry Lane. The second home, built around 1900, offers approximately 1,572 square feet, 2 bedrooms, and 1 bath. It requires TLC and presents potential for restoration or rental use. Multiple outbuildings include a 20x22 carport, 14x20 garage, a 20x20 pole shed, and a 20x30 pole shed, providing storage and workspace. The property is partially fenced and suitable for gardening, livestock, or additional home sites. A new survey has been completed.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Hotel & Motel Department Store Grocery & Convenience Store Grocery & Convenience Store Pet Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Oden
    County
    Montgomery
    State
    Arkansas
    Longitude
    -93.783028
    Latitude
    34.614614

    FAQs

    What type of property is this?
    Duplex - 9.25 acres with two homes and Ouachita River access.
    Where is this duplex located?
    The property is located at 249 & 250 River Drive Oden, AR.
    What is the asking price?
    The asking price for this property is $295,000.
    What are key features of this property?
    This property features: 9.25 acres with Ouachita River access and views; Two homes: a 3‑bedroom main home (built in 2004) and a 2‑bedroom home (circa 1900) with restoration potential; Multiple outbuildings including carports, garages, and pole sheds for ample storage and workspace
    (817) 879-2853
    We can help!
    Listing Contact
    Nancy Bergeron
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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