Tenant-Occupied
For Sale
$400,000
3123 McRay Ave, Springdale, AR 72762
Two-unit residential property with existing leases and established occupancy.
Property Size2,034 SF
Price / SF$196.66
Days on Market94
Property Features for 3123 McRay Ave
General Information
Standard status
Active
Size
2,034 SF
Property subtype
Multi-Family
Building Details
Year Built
1973
Listing Agency:
Red Box Realty
Listed By:
Brandi Graham, Mike Graham · License #PB00075233
(479) 790-4663
Source:
Thesummithometeam
Added: Jul 19
Changed: Oct 15
Last Checked: Oct 7 at 1:58PM
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 Red Box Realty
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Investment Insights
Based on property information with market context.
This duplex contains 2,034 square feet and was built in 1973. Both units are currently leased and occupied by tenants, providing an existing income-producing configuration.
The property is located across from Central Junior High and near JB Hunt Park and shopping. Its setting combines residential surroundings with convenient access to nearby community amenities.
The property is located across from Central Junior High and near JB Hunt Park and shopping. Its setting combines residential surroundings with convenient access to nearby community amenities.
Key Highlights
- 2,034‑square‑foot duplex
- Built in 1973
- Both units are currently leased and tenant occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,304
Cap Rate
4.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$366,080
$366.1K
Cap Rate 7%
$261,486
$261.5K
Cap Rate 9%
$203,378
$203.4K
Market Conditions
NOI Build-Up for 2,034 SF
Gross rent
$28.1K $13.80/SF
− Vacancy
−$1.9K −$0.94/SF
EGI
$26.1K $12.86/SF
− OpEx
−$7.8K −$3.86/SF
NOI
$18.3K $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 Rate 5%
$366,080
Cap Rate 7%
$261,486
Cap Rate 9%
$203,378
Alternative Uses
Best Use
Multifamily LT 5
$261.5K
$228.8K – $305.1K
NOI $18,304 @ 7.0% cap · market cap 4.58%
Second Best
Apartment 5plus
$231.4K
$202.4K – $269.9K
NOI $16,195 @ 7.0% cap · market cap 4.05%
Theoretical Best
Office A
$546.0K
$477.7K – $637.0K
NOI $38,217 @ 7.0% cap · market cap 9.55%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Location Intelligence
Trade Area within ½ mile
766
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with existing leases and established occupancy.
Where is this duplex located?
The property is located at 3123 McRay Ave Springdale, AR.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 2,034‑square‑foot duplex; Built in 1973; Both units are currently leased and tenant occupied
