Detached Duplex with
For Sale
$285,000
Pending
305 Pittman Street, Prairie Grove, AR 72753
Residential, Prairie Grove, AR
Property Size1,566 SF
Lot Size0.52 Acres
Days on Market97
Property Features for 305 Pittman Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 1, Bedroom 3, Bedroom 2, Bedroom 4, Bathroom 2
Parking features
Covered, Carport
Exterior features
ConcreteDriveway
Accessibility
Accessible Approach with Ramp
Appliances
ElectricWaterHeater
Subdivision
Debbie Add
Lot features
Central Business District, Level, Near Park
Elementary school district
Prairie Grove
Middle school district
Prairie Grove
High school district
Prairie Grove
Directions
Following 62 West, take a right on "sundowner road" across from the Dollar General and follow that around until it becomes Pittman. Keep going past the Frederick's One Stop & Harps Grocery Store. Home will be on your left.
Standard status
Pending
APN
805-20144-000
Size
1,566 SF
Lot size
0.52 Acres
Taxes and HOA fees
Tax Description
Lot 5 of the Debbie Addition Subdivision, Prairie Grove, Washington County, AR 72753
Tax Annual Amount
2013
Legal Description
Lot 5 of the Debbie Addition Subdivision, Prairie Grove, Washington County, AR 72753
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1994
Floors in Building
1
Number of units
2
Flooring type
Carpet, Laminate, Tile, Simulatedwood, Vinyl
Building materials
Brick
Roof type
Metal
Listing Agency:
eXp Realty NWA Branch
(866) 720-5056
Listed By:
Team Black and Gold
(479) 363-4331
Added: Jun 16
Changed: Sep 18
Last Checked: Sep 20 at 9:06AM
MLS# 1352249
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 1,566-square-foot duplex, built in 1994, includes two units arranged without a shared wall and separated by covered carports. The property features brick exterior construction, a metal roof, central heating and cooling, and a concrete driveway. One unit has received substantial updates, including newer HVAC and a water heater. Interior finishes include carpet, laminate, tile, vinyl, and simulated wood flooring, with an accessible approach and ramp.
Located at 305 Pittman Street in Prairie Grove, the property is within walking distance of downtown shops and multiple city parks. Groceries and gasoline are nearby, and highway access is available for travel beyond the immediate area.
Located at 305 Pittman Street in Prairie Grove, the property is within walking distance of downtown shops and multiple city parks. Groceries and gasoline are nearby, and highway access is available for travel beyond the immediate area.
Key Highlights
- Two‑unit duplex with no shared wall between residences
- 1,566 square feet on a 0.5187‑acre lot
- Covered carports separate the units and provide parking
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
$14,093
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
4.94%
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%
$281,860
$281.9K
Cap Rate 7%
$201,329
$201.3K
Cap Rate 9%
$156,589
$156.6K
Market Conditions
NOI Build-Up for 1,566 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
$21.6K $13.80/SF
− Vacancy
−$1.5K −$0.94/SF
EGI
$20.1K $12.86/SF
− OpEx
−$6.0K −$3.86/SF
NOI
$14.1K $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%
$281,860
Cap Rate 7%
$201,329
Cap Rate 9%
$156,589
Alternative Uses
Best Use
Multifamily LT 5
$201.3K
$176.2K – $234.9K
NOI $14,093 @ 7.0% cap · market cap 4.94%
Second Best
Apartment 5plus
$178.1K
$155.9K – $207.8K
NOI $12,469 @ 7.0% cap · market cap 4.38%
Theoretical Best
Office A
$420.3K
$367.8K – $490.4K
NOI $29,424 @ 7.0% cap · market cap 10.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
213
Businesses Nearby
Explore this area
Business Placement
Demographics for 72753, AR
10,525
Population
4,078
Households
2.6
Avg Household Size
37
Median Age
20%
College-Educated
92%
High-School Grad
89.2 sq mi
ZIP Area
118
Density / Sq Mi
$64,701
Median Household Income
$40,264
Median Earnings
$911
Median Rent
$227,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Brick duplex with covered carport parking and central HVAC.
Where is this duplex located?
The property is located at 305 Pittman Street Prairie Grove, AR.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: Two‑unit duplex with no shared wall between residences; 1,566 square feet on a 0.5187‑acre lot; Covered carports separate the units and provide parking
