Updated-Unit
New
For Sale
$650,000
372 Erin Pl, Springdale, AR 72764
Three-unit property combines short-term and long-term occupancy arrangements.
Property Size5,248 SF
Price / SF$123.86
Days on Market5
Property Features for 372 Erin Pl
General Information
Standard status
Active
Size
5,248 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
3
Building Details
Year Built
2004
Listing Agency:
NextHome NWA Pro Realty
(479) 418-3000
Listed By:
Hartwick & Associates
Source:
Thebesthomeprice
Added: Aug 25
Changed: Aug 28
Last Checked: Aug 28 at 12:46PM
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 NextHome NWA Pro Realty
Investment Insights
Based on property information with market context.
Built in 2004, this 5,248-square-foot triplex includes three residential units with a varied rental profile. One unit has been updated, while the current occupancy includes one Airbnb unit and two units leased to long-term tenants. The configuration provides an established mix of short-term and traditional rental use within a single multifamily property.
The property is located at 372 Erin Pl in Springdale, Arkansas, with shopping, dining, schools, and major commuter routes identified in the surrounding area. Its three-unit layout supports continued rental operation and provides flexibility for an owner-occupant or investor, consistent with the current use profile.
The property is located at 372 Erin Pl in Springdale, Arkansas, with shopping, dining, schools, and major commuter routes identified in the surrounding area. Its three-unit layout supports continued rental operation and provides flexibility for an owner-occupant or investor, consistent with the current use profile.
Key Highlights
- 5,248‑square‑foot triplex built in 2004
- Three residential units with one updated unit
- One unit operating as an Airbnb
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
$47,228
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
7.27%
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%
$944,560
$944.6K
Cap Rate 7%
$674,686
$674.7K
Cap Rate 9%
$524,756
$524.8K
Market Conditions
NOI Build-Up for 5,248 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
$72.4K $13.80/SF
− Vacancy
−$5.0K −$0.94/SF
EGI
$67.5K $12.86/SF
− OpEx
−$20.2K −$3.86/SF
NOI
$47.2K $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%
$944,560
Cap Rate 7%
$674,686
Cap Rate 9%
$524,756
Alternative Uses
Best Use
Multifamily LT 5
$674.7K
$590.4K – $787.1K
NOI $47,228 @ 7.0% cap · market cap 7.27%
Second Best
Apartment 5plus
$596.9K
$522.3K – $696.4K
NOI $41,786 @ 7.0% cap · market cap 6.43%
Theoretical Best
Office A
$1.41M
$1.23M – $1.64M
NOI $98,605 @ 7.0% cap · market cap 15.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
195
Businesses Nearby
Explore this area
Business Placement
Demographics for 72764, AR
60,786
Population
20,781
Households
2.9
Avg Household Size
30
Median Age
20%
College-Educated
72%
High-School Grad
66.2 sq mi
ZIP Area
918
Density / Sq Mi
$61,569
Median Household Income
$34,552
Median Earnings
$984
Median Rent
$226,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit property combines short-term and long-term occupancy arrangements.
Where is this triplex located?
The property is located at 372 Erin Pl Springdale, AR.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 5,248‑square‑foot triplex built in 2004; Three residential units with one updated unit; One unit operating as an Airbnb
