2-Unit
324 Drake Street #2, Jonesboro, AR 72401
For Sale
$325,900
Both residences offer two bedrooms and two full bathrooms in a practical layout.
Property Size2,294 SF
Price / SF$142.07
Days on Market74
Property Features for 324 Drake Street #2
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Listing Agency:
Dustin White Realty
(870) 594-4367
Listed By:
Dustin White · License #PB00080059
(870) 219-2858
Source:
Dustinwhiterealty
Added: Aug 28
Changed: Nov 8
Last Checked: Nov 8 at 7:44AM
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 Dustin White Realty
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Investment Insights
Based on property information with market context.
This duplex contains two residences, each with 2 bedrooms and 2 full bathrooms. The property totals 2,294 square feet and is located at 324 Drake Street in Jonesboro, Arkansas.
Shopping, dining, and local amenities are nearby.
Shopping, dining, and local amenities are nearby.
Key Highlights
- Two residences, each with 2 bedrooms and 2 full bathrooms
- 2,294 square feet total
- Located near shopping, dining, and local amenities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,151
Cap Rate
4.65%
Suggested Prices Based on Cap Rates
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
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 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.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
488
Businesses Nearby
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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
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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 - Both residences offer two bedrooms and two full bathrooms in a practical layout.
Where is this duplex located?
The property is located at 324 Drake Street #2 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 residences, each with 2 bedrooms and 2 full bathrooms; 2,294 square feet total; Located near shopping, dining, and local amenities
