New Luxury Quadplex
For Sale
$2,400,000
3101 Olivia Court, Jonesboro, AR 72404
MULTI_FAMILY - 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
Property condition
Under Construction
Parking features
Carport
Patio and Porch features
Patio
Interior features
Washer Connection, Dryer Connection-Electric, Breakfast Bar, Fan - Ceiling
Exterior features
Patio
Appliances
Electric Range, Dishwasher, Electric Range, Dishwasher
Subdivision
Brendar Village
Lot features
Level, Extra Landscaping
Elementary school
NETTLETON
Middle school
NETTLETON
High school
NETTLETON
Directions
South on Stadium, Left on Colony, Left on Antosh Circle to Olivia.
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
Legal Description
3101 Units 1-4, 3021 Units 1-4
Building Details
Year built
2026
Floors in Building
1
Number of units
12
Flooring type
Vinyl
Roof type
Composition
Listing Agency:
Coldwell Banker Village Communities
(870) 935-7800
Listed By:
Kevin Kercheval · License #PB00056142
(870) 926-3225
Added: Jun 18
Changed: Jun 20
Last Checked: Aug 8 at 9:06AM
MLS# 26024971
Copyright © 2026 Cooperative Arkansas Realtors Multiple Listing Service. 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 luxury condominium development offering 12 completed and vacant units across three professionally built quadplex buildings. The community includes six 3-bedroom, 2-bath condominiums and six 2-bedroom, 2-bath condominiums. Each 3-bedroom unit is described as approximately 1,220 square feet, and each 2-bedroom unit is described as approximately 1,216 square feet. All residences include a covered two-car carport. Interior features include luxury vinyl plank flooring, vaulted ceilings, granite countertops, spacious open-concept living areas, tile showers in the primary suites, quality cabinetry, and modern finishes throughout. The units are brand new, never occupied, and positioned for immediate leasing.
The property is located at 3101 Olivia Court in Jonesboro, Arkansas (Craighead County). The development is presented as completed construction with 12 units available, all in place within the three quadplex structures.
For investors or operator-owners seeking a turnkey multifamily condominium asset, this offering provides a full-building acquisition with a complete package of newly constructed, vacant units. With both 2-bedroom and 3-bedroom layouts included, the mix may support leasing to a broader range of household sizes while keeping unit finishes consistent across the development.
The property is located at 3101 Olivia Court in Jonesboro, Arkansas (Craighead County). The development is presented as completed construction with 12 units available, all in place within the three quadplex structures.
For investors or operator-owners seeking a turnkey multifamily condominium asset, this offering provides a full-building acquisition with a complete package of newly constructed, vacant units. With both 2-bedroom and 3-bedroom layouts included, the mix may support leasing to a broader range of household sizes while keeping unit finishes consistent across the development.
Key Highlights
- Brendar Village condominium development in Jonesboro, AR with 12 newly constructed, vacant units in three quadplex buildings
- Unit mix: six 3‑bedroom/2‑bath and six 2‑bedroom/2‑bath residences
- 3‑bedroom units offer approx. 1,220 SF; 2‑bedroom units offer approx. 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
Turnkey business
Opportunity
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 - Brand-new, vacant condominium units in quadplex buildings, ready for immediate leasing upon acquisition.
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: Brendar Village condominium development in Jonesboro, AR with 12 newly constructed, vacant units in three quadplex buildings; Unit mix: six 3‑bedroom/2‑bath and six 2‑bedroom/2‑bath residences; 3‑bedroom units offer approx. 1,220 SF; 2‑bedroom units offer approx. 1,216 SF
