Tenant-Occupied
For Sale
$475,000
Pending
2704 McMillan Drive, Springdale, AR 72762
MULTI_FAMILY - Springdale, AR
Property Size2,470 SF
Lot Size0.26 Acres
Days on Market280
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 3, Bathroom 2, Bedroom 2, Bedroom 4, Bathroom 1, Bedroom 1
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: Aug 4
Last Checked: Aug 20 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 tenant-occupied duplex offers a brick exterior, laminate flooring, and a shingle roof. Built in 1983, the home includes central heating and central air cooling, an electric water heater, and a fireplace. Parking is provided with open parking, and the exterior includes a concrete driveway. The interior rooms are configured with four bedrooms and two bathrooms.
The property is located at 2704 McMillan Drive in Springdale, Arkansas, and is across the street from Central Jr High. It is also described as close to shopping and JB Park.
Set on a 0.2572-acre lot with a property size of 2,470 square feet, the duplex is currently leased and tenant occupied, offering an immediately occupied setup for a qualified buyer or investor.
The property is located at 2704 McMillan Drive in Springdale, Arkansas, and is across the street from Central Jr High. It is also described as close to shopping and JB Park.
Set on a 0.2572-acre lot with a property size of 2,470 square feet, the duplex is currently leased and tenant occupied, offering an immediately occupied setup for a qualified buyer or investor.
Key Highlights
- Tenant‑occupied duplex, currently leased
- 0.2572‑acre lot and 2,470 SF property size
- Built in 1983 with brick exterior and shingle 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
$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
Property Profile
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
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 - Tenant-occupied brick duplex with central heating and cooling, fireplace, and open parking on a small lot.
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: Tenant‑occupied duplex, currently leased; 0.2572‑acre lot and 2,470 SF property size; Built in 1983 with brick exterior and shingle roof
