Leased Duplex with Wood
New
For Sale
$185,000
325 Hereford Street, Conway, AR 72032
Multi-Family, Traditional, Conway, AR
Property Size1,795 SF
Lot Size0.25 Acres
Price / SF$103.06
Days on Market2
Property Features for 325 Hereford Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Exterior features
Fully Fenced
Fencing
Full
Appliances
Free-Standing Stove, Gas Range, Refrigerator-Stays, Free-Standing Stove, Gas Range, Refrigerator-Stays
Subdivision
Browns
Lot features
Level
Directions
North on Jersey Street, right on Hereford
Standard status
Active
Size
1,795 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Description
Lot 6
Tax Annual Amount
1288
Legal Description
Lot 6
Building Details
Year built
1961
Floors in Building
1
Number of units
2
Flooring type
Wood
Roof type
Shingle
Architectural style
Other
Listing Agency:
Arkansas Real Estate Collective, Conway Branch
(501) 499-2097
Listed By:
Stefanie Schrekenhofer
(501) 428-3120
Added: Sep 1
Last Checked: Sep 2 at 5:06AM
MLS# 26035694
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 1,795-square-foot duplex sits on a 0.25-acre lot at 325 Hereford Street in Conway, Arkansas. Built in 1961, the property includes roomy living areas, original wood flooring, full fencing, and shingle roofing. Recent work includes new paint, replacement sewer lines, and a newer roof installed approximately 6–8 years ago.
Both sides are leased to long-term tenants, providing an occupied two-unit configuration. The property also includes free-standing stoves, gas ranges, and refrigerators, with the residences located in Conway’s 72032 ZIP code.
Both sides are leased to long-term tenants, providing an occupied two-unit configuration. The property also includes free-standing stoves, gas ranges, and refrigerators, with the residences located in Conway’s 72032 ZIP code.
Key Highlights
- 1,795 SF duplex on a 0.25‑acre lot
- Both sides leased to long‑term tenants
- Original wood flooring throughout the duplex
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
$12,074
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
6.53%
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%
$241,480
$241.5K
Cap Rate 7%
$172,486
$172.5K
Cap Rate 9%
$134,156
$134.2K
Market Conditions
NOI Build-Up for 1,795 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
$18.3K $10.20/SF
− Vacancy
−$1.1K −$0.59/SF
EGI
$17.2K $9.61/SF
− OpEx
−$5.2K −$2.88/SF
NOI
$12.1K $6.73/SF
Area
Faulkner County, AR
Vacancy
5.79%
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%
$241,480
Cap Rate 7%
$172,486
Cap Rate 9%
$134,156
Alternative Uses
Best Use
Multifamily LT 5
$172.5K
$150.9K – $201.2K
NOI $12,074 @ 7.0% cap · market cap 6.53%
Second Best
Apartment 5plus
$154.2K
$134.9K – $179.9K
NOI $10,791 @ 7.0% cap · market cap 5.83%
Theoretical Best
Office A
$409.4K
$358.2K – $477.7K
NOI $28,659 @ 7.0% cap · market cap 15.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,164
Businesses Nearby
Explore this area
Business Placement
Demographics for 72032, AR
34,316
Population
14,255
Households
2.4
Avg Household Size
35
Median Age
27%
College-Educated
94%
High-School Grad
114.5 sq mi
ZIP Area
300
Density / Sq Mi
$61,452
Median Household Income
$36,877
Median Earnings
$976
Median Rent
$183,200
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 - Two residential units offer wood flooring, refreshed paint, updated sewer lines, full fencing, and a shingle roof.
Where is this duplex located?
The property is located at 325 Hereford Street Conway, AR.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: 1,795 SF duplex on a 0.25‑acre lot; Both sides leased to long‑term tenants; Original wood flooring throughout the duplex
