Brick Duplex with Central
For Sale
$475,000
Pending
2704 McMillan Drive, Springdale, AR 72762
Residential, Springdale, AR
Property Size2,470 SF
Lot Size0.26 Acres
Days on Market326
Property Features for 2704 McMillan Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bathroom 1, Bedroom 2, Bedroom 1, Bedroom 3, Bathroom 2
Parking features
Open
Exterior features
ConcreteDriveway
Fireplace
1
Appliances
ElectricWaterHeater
Subdivision
Elmwood Sub Ph I
Lot features
Central Business District, Cul De Sac, Near Park
Directions
Huntsville Avenue to Gutensohn go South McMillan first street on the East side of Gutensohn
Standard status
Pending
APN
815-21805-000
Size
2,470 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Description
On file
Tax Annual Amount
3082
Legal Description
On file
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1983
Floors in Building
1
Number of units
2
Flooring type
Laminate
Building materials
Brick
Roof type
Shingle
Listing Agency:
Red Box Realty
(479) 750-4663
Listed By:
Brandi Graham · License #SA00091443
(479) 790-9337
Added: Nov 13, 2025
Changed: Sep 15
Last Checked: Oct 5 at 3:06AM
MLS# 1328475
Copyright © 2026 ArkansasONE MLS. 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 duplex offers 2,470 square feet on a 0.2572-acre lot, with four bedrooms and two bathrooms identified in the room layout. Built in 1983, the property has brick construction, laminate flooring, a shingle roof, central heating, central air, an electric water heater, and a fireplace. Open parking and a concrete driveway serve the property.
The homes are currently leased and tenant occupied. The property is located across from Central Jr High and near shopping and JB Park in Springdale, Arkansas.
The homes are currently leased and tenant occupied. The property is located across from Central Jr High and near shopping and JB Park in Springdale, Arkansas.
Key Highlights
- 2,470 square feet on a 0.2572‑acre lot
- Four bedrooms and two bathrooms shown in the room layout
- Currently leased and tenant occupied
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
$22,228
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
4.68%
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%
$444,560
$444.6K
Cap Rate 7%
$317,543
$317.5K
Cap Rate 9%
$246,978
$247.0K
Market Conditions
NOI Build-Up for 2,470 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
$34.1K $13.80/SF
− Vacancy
−$2.3K −$0.94/SF
EGI
$31.8K $12.86/SF
− OpEx
−$9.5K −$3.86/SF
NOI
$22.2K $9.00/SF
Area
Washington County, AR
Vacancy
6.84%
Lease Rate
$13.80 /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%
$444,560
Cap Rate 7%
$317,543
Cap Rate 9%
$246,978
Alternative Uses
Best Use
Multifamily LT 5
$317.5K
$277.9K – $370.5K
NOI $22,228 @ 7.0% cap · market cap 4.68%
Second Best
Apartment 5plus
$281.0K
$245.8K – $327.8K
NOI $19,667 @ 7.0% cap · market cap 4.14%
Theoretical Best
Office A
$663.0K
$580.1K – $773.5K
NOI $46,409 @ 7.0% cap · market cap 9.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
248
Businesses Nearby
Explore this area
Business Placement
Demographics for 72762, AR
42,175
Population
17,270
Households
2.4
Avg Household Size
36
Median Age
33%
College-Educated
85%
High-School Grad
58.1 sq mi
ZIP Area
726
Density / Sq Mi
$80,678
Median Household Income
$42,066
Median Earnings
$1,118
Median Rent
$278,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Currently leased duplex with open parking, central heating and cooling, and a concrete driveway.
Where is this duplex located?
The property is located at 2704 McMillan Drive Springdale, AR.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 2,470 square feet on a 0.2572‑acre lot; Four bedrooms and two bathrooms shown in the room layout; Currently leased and tenant occupied
