Duplex with Two-Bedroom
New
For Sale
$325,900
324 Drake Street, Jonesboro, AR 72401
Residential, Townhouse, Jonesboro, AR
Property Size2,294 SF
Lot Size0.16 Acres
Price / SF$142.07
Days on Market7
Property Features for 324 Drake Street
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 1
Appliances
Free-Standing Stove
Subdivision
Not In List
Lot features
Level
Directions
From Johnson Ave, R on Drake St, H on R
Standard status
Active
Size
2,294 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Description
BURRITTS ADD
Tax Annual Amount
1785
Legal Description
BURRITTS ADD
Building Details
Floors in Building
2
Flooring type
Vinyl
Roof type
Shingle
Architectural style
Other
Listing Agency:
Dustin White Realty
(870) 594-4367
Listed By:
Dustin White · License #PB00080059
(870) 219-2858
Added: Aug 28
Last Checked: Sep 3 at 7:06AM
MLS# 26035190
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.
This duplex contains 2294 square feet on a 0.16-acre lot, with each unit arranged as a two-bedroom, two-bath residence. Interior features include vinyl flooring and a free-standing stove, while shingle roofing serves the property. The units are described as like-new and well maintained, with modern layouts and functional living areas.
Located at 324 Drake Street in Jonesboro, the property is near shopping, dining, and local amenities. Its two-unit configuration supports both rental ownership and an owner-occupant strategy, subject to the buyer’s intended use.
Located at 324 Drake Street in Jonesboro, the property is near shopping, dining, and local amenities. Its two-unit configuration supports both rental ownership and an owner-occupant strategy, subject to the buyer’s intended use.
Key Highlights
- Two‑unit duplex with 2294 square feet
- Each unit has 2 bedrooms and 2 full bathrooms
- Situated on a 0.16‑acre lot at 324 Drake Street
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
$15,151
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
4.65%
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%
$303,020
$303.0K
Cap Rate 7%
$216,443
$216.4K
Cap Rate 9%
$168,344
$168.3K
Market Conditions
NOI Build-Up for 2,294 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
$23.4K $10.20/SF
− Vacancy
−$1.8K −$0.77/SF
EGI
$21.6K $9.44/SF
− OpEx
−$6.5K −$2.83/SF
NOI
$15.2K $6.60/SF
Area
Craighead County, AR
Vacancy
7.50%
Lease Rate
$10.20 /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%
$303,020
Cap Rate 7%
$216,443
Cap Rate 9%
$168,344
Alternative Uses
Best Use
Multifamily LT 5
$216.4K
$189.4K – $252.5K
NOI $15,151 @ 7.0% cap · market cap 4.65%
Second Best
Apartment 5plus
$196.6K
$172.0K – $229.4K
NOI $13,761 @ 7.0% cap · market cap 4.22%
Theoretical Best
Office A
$401.6K
$351.4K – $468.6K
NOI $28,113 @ 7.0% cap · market cap 8.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
488
Businesses Nearby
Explore this area
Business Placement
Demographics for 72401, AR
43,127
Population
19,328
Households
2.2
Avg Household Size
33
Median Age
23%
College-Educated
89%
High-School Grad
88.5 sq mi
ZIP Area
487
Density / Sq Mi
$43,412
Median Household Income
$32,970
Median Earnings
$897
Median Rent
$185,400
Median Home Value
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 - Each residence offers two bedrooms, two full bathrooms, vinyl flooring, and a free-standing stove.
Where is this duplex located?
The property is located at 324 Drake Street Jonesboro, AR.
What is the asking price?
The asking price for this property is $325,900.
What are key features of this property?
This property features: Two‑unit duplex with 2294 square feet; Each unit has 2 bedrooms and 2 full bathrooms; Situated on a 0.16‑acre lot at 324 Drake Street
