Tenant-Occupied
For Sale
$400,000
3123 McRay Avenue, Springdale, AR 72762
Residential, Springdale, AR
Property Size2,034 SF
Lot Size0.41 Acres
Price / SF$196.66
Days on Market326
Property Features for 3123 McRay Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bathroom 1, Bedroom 2, Bedroom 1, Bedroom 3, Bathroom 2
Parking features
Garage, Open
Exterior features
ConcreteDriveway
Appliances
ElectricWaterHeater
Subdivision
West Heights Add I
Lot features
Central Business District, Cul De Sac
Directions
Huntsville Ave go South on Gutensohn to McRay Go West on McRay Duplex on the Left.
Standard status
Active
APN
815-26702-000
Size
2,034 SF
Lot size
0.41 Acres
Taxes and HOA fees
Tax Description
On File
Tax Annual Amount
2489
Legal Description
On File
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1973
Floors in Building
1
Number of units
2
Flooring type
Laminate
Building materials
Brick
Roof type
Shingle
Listing Agency:
Red Box Realty
(479) 750-4663
Listed By:
Brandi Graham · License #SA00091443
(479) 790-9337
Added: Nov 13, 2025
Changed: Sep 15
Last Checked: Oct 5 at 4:06AM
MLS# 1328476
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 duplex contains 2,034 square feet on a 0.4075-acre lot and is currently occupied under leases. The 1973 property features brick construction, laminate flooring, shingle roofing, central heating and cooling, and an electric water heater. Parking includes both a garage and open spaces, while a concrete driveway serves the property.
The property is located across from Central Junior High and near JB Hunt Park and shopping. Its residential income configuration, existing tenancy, and established physical improvements provide a straightforward opportunity for ownership of a leased duplex in Springdale.
The property is located across from Central Junior High and near JB Hunt Park and shopping. Its residential income configuration, existing tenancy, and established physical improvements provide a straightforward opportunity for ownership of a leased duplex in Springdale.
Key Highlights
- 2,034‑square‑foot duplex on a 0.4075‑acre lot
- Currently leased and tenant occupied
- Brick construction dating to 1973
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
$18,304
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
4.58%
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%
$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
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
$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 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%
$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.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
766
Businesses Nearby
Explore this area
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Brick duplex with existing leases, central HVAC, garage parking, and convenient access to nearby shopping and schools.
Where is this duplex located?
The property is located at 3123 McRay Avenue 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 on a 0.4075‑acre lot; Currently leased and tenant occupied; Brick construction dating to 1973
