Residential Income Property with Storm
For Sale
$165,000
31 River Oaks Trace, Searcy, AR 72143
The condominium has an open living and kitchen area, separate laundry room, and FEMA-approved shelter in the garage.
Property Size1,120 SF
Price / SF$147.32
Days on Market121
Property Features for 31 River Oaks Trace
General Information
Standard status
Active
Size
1,120 SF
Property subtype
Condo/Townhse/Duplex/Apt
Taxes and HOA fees
Annual Taxes
$734
Amenities
storm shelter
laundry room
Building Details
Building Size
1,120 SF
Year Built
2001
Listing Agency:
RE/MAX Advantage
Listed By:
Tish Pace · License #AB00060572
(501) 593-0262
Source:
Howellrealtypros
Added: Jul 1
Changed: Oct 26
Last Checked: Oct 26 at 3:15PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Advantage
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Investment Insights
Based on property information with market context.
This 1,120-square-foot condominium, built in 2001, has a living area that opens to the kitchen, with bedrooms positioned on opposite sides of the home. A separate laundry room, laminate flooring, ample kitchen cabinets and counter space, and large walk-in closets are among its interior features. One bathroom has a walk-in tub, and a FEMA-approved storm shelter is located in the garage. The refrigerator, washer, and dryer are included.
Guest parking is available behind the home and along the courtyard side. A brick sidewalk leads to the front entrance. Monthly dues cover lawn care, exterior maintenance including the roof, sprinkler service, a termite contract, and exterior insurance.
Guest parking is available behind the home and along the courtyard side. A brick sidewalk leads to the front entrance. Monthly dues cover lawn care, exterior maintenance including the roof, sprinkler service, a termite contract, and exterior insurance.
Key Highlights
- 1,120‑square‑foot condominium built in 2001
- FEMA‑approved storm shelter in the garage
- Bedrooms sit on opposite sides of the living area; each has a large walk‑in closet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$6,050
Cap Rate
3.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$121,000
$121.0K
Cap Rate 7%
$86,429
$86.4K
Cap Rate 9%
$67,222
$67.2K
Market Conditions
NOI Build-Up for 1,120 SF
Gross rent
$11.8K $10.56/SF
− Vacancy
−$828 −$0.74/SF
EGI
$11.0K $9.82/SF
− OpEx
−$4.9K −$4.42/SF
NOI
$6.0K $5.40/SF
Area
White County, AR
Vacancy
7.00%
Lease Rate
$10.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$121,000
Cap Rate 7%
$86,429
Cap Rate 9%
$67,222
Alternative Uses
Best Use
Apartment 5plus
$86.4K
$75.6K – $100.8K
NOI $6,050 @ 7.0% cap · market cap 3.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$204.8K
$179.2K – $239.0K
NOI $14,338 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
847
Businesses Nearby
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Business Placement
Demographics for 72143, AR
35,111
Population
14,948
Households
2.3
Avg Household Size
37
Median Age
27%
College-Educated
89%
High-School Grad
302.1 sq mi
ZIP Area
116
Density / Sq Mi
$55,522
Median Household Income
$33,315
Median Earnings
$851
Median Rent
$176,900
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The condominium has an open living and kitchen area, separate laundry room, and FEMA-approved shelter in the garage.
Where is this residential income property located?
The property is located at 31 River Oaks Trace Searcy, AR.
What is the asking price?
The asking price for this property is $165,000.
What are key features of this property?
This property features: 1,120‑square‑foot condominium built in 2001; FEMA‑approved storm shelter in the garage; Bedrooms sit on opposite sides of the living area; each has a large walk‑in closet
