Six-Unit Apartment
For Sale
$299,900
3811 E Highland, Jonesboro, AR 72401
Six one-bedroom, one-bath residences offer a straightforward multifamily configuration.
Property Size3,045 SF
Price / SF$98.49
Days on Market142
Property Features for 3811 E Highland
General Information
Standard status
Active
Size
3,045 SF
Property subtype
Residential Income
Additional Details
Average Monthly Rent
$650
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$2,012
Listing Agency:
Jonesboro Realty Company
2433993
Listed By:
Josh Olson · License #00058768
(870) 931-6806
Source:
Exprealty
Added: Apr 20
Changed: Sep 2
Last Checked: Sep 8 at 12:20PM
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 Jonesboro Realty Company
Investment Insights
Based on property information with market context.
This apartment property contains six one-bedroom, one-bath units within approximately 3,045 square feet. The configuration provides a clearly defined multifamily asset with consistent unit layouts across the building.
The property is located at 3811 E Highland in Jonesboro, Arkansas 72401.
The property is located at 3811 E Highland in Jonesboro, Arkansas 72401.
Key Highlights
- Six apartment units
- Each unit includes 1 bedroom and 1 bath
- Approximately 3,045 square feet
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
$18,266
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
6.09%
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%
$365,320
$365.3K
Cap Rate 7%
$260,943
$260.9K
Cap Rate 9%
$202,956
$203.0K
Market Conditions
NOI Build-Up for 3,045 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
$35.4K $11.64/SF
− Vacancy
−$2.2K −$0.73/SF
EGI
$33.2K $10.91/SF
− OpEx
−$14.9K −$4.91/SF
NOI
$18.3K $6.00/SF
Area
Craighead County, AR
Vacancy
6.30%
Lease Rate
$11.64 /SF/Yr
Expense Ratio
45.00%
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%
$365,320
Cap Rate 7%
$260,943
Cap Rate 9%
$202,956
Alternative Uses
Best Use
Apartment 5plus
$260.9K
$228.3K – $304.4K
NOI $18,266 @ 7.0% cap · market cap 6.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$533.1K
$466.5K – $622.0K
NOI $37,317 @ 7.0% cap · market cap 12.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
420
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?
Apartment building - Six one-bedroom, one-bath residences offer a straightforward multifamily configuration.
Where is this apartment building located?
The property is located at 3811 E Highland Jonesboro, AR.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Six apartment units; Each unit includes 1 bedroom and 1 bath; Approximately 3,045 square feet
