Apartment Building Condos in Three
For Sale
$2,400,000
3101 Olivia Court, Jonesboro, AR 72404
MULTI_FAMILY - Other - Jonesboro, AR
Property Size14,616 SF
Price / SF$164.20
Days on Market52
Property Features for 3101 Olivia Court
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Bedrooms
30
Rooms
Bedroom 22, Bedroom 19, Bedroom 20, Bedroom 21, Bedroom 17, Bedroom 23, Bedroom 25, Bedroom 9, Bedroom 2, Bedroom 12, Bedroom 16, Bedroom 24, Bedroom 8, Bedroom 11, Bedroom 4, Bedroom 18, Bedroom 29, Bedroom 30, Bedroom 28, Bedroom 26, Bedroom 1, Bedroom 7, Bedroom 3, Bedroom 14, Bedroom 27, Bedroom 10, Bedroom 13, Bedroom 5, Bedroom 6, Bedroom 15
Interior features
Breakfast Bar, Ceiling Fan(s), Vaulted Ceiling(s)
Exterior features
Brick
Subdivision
Brendar Village
Lot features
Landscaped, Level
Elementary school
Nettleton
High school
Nettleton
Standard status
Active
APN
01-134041-14500
Size
14,616 SF
Taxes and HOA fees
Tax Description
3101 Units 1-4, 3021 Units 1-4, 3017 Units 1-4 in Brendar Village HPR; Craighead County, Jonesboro
Legal Description
3101 Units 1-4, 3021 Units 1-4, 3017 Units 1-4 in Brendar Village HPR; Craighead County, Jonesboro
Utilities
Heating system
Central
Cooling system
Central Air
Amenities
luxury vinyl plank flooring
vaulted ceilings
granite countertops
open-concept living areas
tile showers
quality cabinetry
modern finishes
Building Details
Floors in Building
1
Number of units
12
Flooring type
Vinyl
Roof type
Shingle
Architectural style
Other
Listing Agency:
Coldwell Banker Village Communities Inc · Coldwell Banker Real Estate
(870) 935-7800
Listed By:
Kevin Kercheval · License #PB00056142
(870) 935-7800
Added: Jun 18
Changed: Aug 2
Last Checked: Aug 8 at 8:06AM
MLS# 10130460
Copyright © 2026 Northeast Arkansas Board of Realtors. 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.
Brendar Village is a newly constructed condominium development offering apartment-style operation with condo ownership flexibility. The property includes 12 completed and vacant condominium units across three professionally constructed quadplex buildings. There are six 3-bedroom, 2-bath units and six 2-bedroom, 2-bath units, with approximately 1,220 square feet of living space in the 3-bedroom homes and approximately 1,216 square feet in the 2-bedroom homes. Each residence includes a covered two-car carport.
Interiors are appointed with luxury vinyl plank flooring, vaulted ceilings, and granite countertops, along with modern finishes and practical tenant-focused layouts. Heating is central and cooling is central air. Exterior features include brick construction and a shingle roof.
Condo association dues cover the blanket exterior insurance policy and common area maintenance, reducing certain ownership and management responsibilities. All units are brand new, never occupied, and available for immediate occupancy.
Interiors are appointed with luxury vinyl plank flooring, vaulted ceilings, and granite countertops, along with modern finishes and practical tenant-focused layouts. Heating is central and cooling is central air. Exterior features include brick construction and a shingle roof.
Condo association dues cover the blanket exterior insurance policy and common area maintenance, reducing certain ownership and management responsibilities. All units are brand new, never occupied, and available for immediate occupancy.
Key Highlights
- Twelve completed, vacant condominium units
- Three quadplex buildings with condo ownership structure
- Six 3‑bedroom, 2‑bath units (approximately 1,220 SF) and six 2‑bedroom, 2‑bath units (approximately 1,216 SF)
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
$87,677
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
3.65%
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%
$1,753,540
$1.8M
Cap Rate 7%
$1,252,529
$1.3M
Cap Rate 9%
$974,189
$974.2K
Market Conditions
NOI Build-Up for 14,616 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
$170.1K $11.64/SF
− Vacancy
−$10.7K −$0.73/SF
EGI
$159.4K $10.91/SF
− OpEx
−$71.7K −$4.91/SF
NOI
$87.7K $6.00/SF
Area
Craighead County, AR
Vacancy
6.30%
Lease Rate
$11.64 /SF/Yr
Expense Ratio
45.00%
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%
$1,753,540
Cap Rate 7%
$1,252,529
Cap Rate 9%
$974,189
Alternative Uses
Best Use
Apartment 5plus
$1.25M
$1.10M – $1.46M
NOI $87,677 @ 7.0% cap · market cap 3.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.56M
$2.24M – $2.99M
NOI $179,122 @ 7.0% cap · market cap 7.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
161
Businesses Nearby
Explore this area
Business Placement
Demographics for 72404, AR
29,344
Population
12,518
Households
2.3
Avg Household Size
35
Median Age
34%
College-Educated
93%
High-School Grad
128.0 sq mi
ZIP Area
229
Density / Sq Mi
$67,000
Median Household Income
$40,373
Median Earnings
$938
Median Rent
$236,300
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?
Apartment building - Twelve newly constructed, vacant condominium units in three quadplex buildings, ready for immediate leasing.
Where is this apartment building located?
The property is located at 3101 Olivia Court Jonesboro, AR.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: Twelve completed, vacant condominium units; Three quadplex buildings with condo ownership structure; Six 3‑bedroom, 2‑bath units (approximately 1,220 SF) and six 2‑bedroom, 2‑bath units (approximately 1,216 SF)
