Updated Four-Unit
New
For Sale
$450,000
404 Scott Street, Jonesboro, AR 72404
Multi-Family, Traditional, Jonesboro, AR
Property Size2,912 SF
Lot Size0.38 Acres
Price / SF$154.53
Days on Market4
Property Features for 404 Scott Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Appliances
Microwave, Electric Range, Surface Range, Dishwasher, Refrigerator-Stays, Microwave, Electric Range, Surface Range, Dishwasher, Refrigerator-Stays
Subdivision
Cobb & Lee
Lot features
Extra Landscaping
High school
JONESBORO
Directions
Johnson to Scott. North on Scott with property on right.
Standard status
Active
Size
2,912 SF
Lot size
0.38 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
N83' S200' E171.25' OF NE NE N
Tax Annual Amount
2559
Legal Description
N83' S200' E171.25' OF NE NE N
Amenities
jetted tub/shower combinations
storm doors
private deck/yard area
Building Details
Year built
2004
Floors in Building
1
Number of units
4
Flooring type
Ceramic
Roof type
Shingle
Architectural style
Other
Listing Agency:
Arnold Group Real Estate
(870) 932-2600
Listed By:
Bill Pressly
(870) 919-3990
Added: Sep 23
Last Checked: Sep 26 at 3:06PM
MLS# 26038754
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 2,912-square-foot quadplex contains four two-bedroom, one-bath units, each with a jetted tub and shower combination. The units include front and rear storm doors, ceramic flooring, and separate small deck or yard areas enclosed by wooden privacy fencing. Appliances include electric ranges, dishwashers, refrigerators, and microwaves. Recent work has included appliance, cabinet, sink, bathroom, lighting, and hot water heater updates.
Built in 2004, the property sits on 0.38 acres in Jonesboro near Arkansas State University and Downtown Jonesboro. The shingle roof is less than 10 years old. All four units are fully occupied, providing an established residential rental configuration in a location close to two recognized Jonesboro destinations.
Built in 2004, the property sits on 0.38 acres in Jonesboro near Arkansas State University and Downtown Jonesboro. The shingle roof is less than 10 years old. All four units are fully occupied, providing an established residential rental configuration in a location close to two recognized Jonesboro destinations.
Key Highlights
- Four fully occupied residential units
- Each unit offers 2 bedrooms and 1 bath
- 2,912 square feet on 0.38 acres
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
$19,232
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
4.27%
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%
$384,640
$384.6K
Cap Rate 7%
$274,743
$274.7K
Cap Rate 9%
$213,689
$213.7K
Market Conditions
NOI Build-Up for 2,912 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
$29.7K $10.20/SF
− Vacancy
−$2.2K −$0.77/SF
EGI
$27.5K $9.44/SF
− OpEx
−$8.2K −$2.83/SF
NOI
$19.2K $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%
$384,640
Cap Rate 7%
$274,743
Cap Rate 9%
$213,689
Alternative Uses
Best Use
Multifamily LT 5
$274.7K
$240.4K – $320.5K
NOI $19,232 @ 7.0% cap · market cap 4.27%
Second Best
Apartment 5plus
$249.5K
$218.4K – $291.1K
NOI $17,468 @ 7.0% cap · market cap 3.88%
Theoretical Best
Office A
$509.8K
$446.1K – $594.8K
NOI $35,687 @ 7.0% cap · market cap 7.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
302
Businesses Nearby
Explore this area
Business Placement
Demographics for 72404, AR
29,344
Population
12,518
Households
2.3
Avg Household Size
35
Median Age
34%
College-Educated
93%
High-School Grad
128.0 sq mi
ZIP Area
229
Density / Sq Mi
$67,000
Median Household Income
$40,373
Median Earnings
$938
Median Rent
$236,300
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully occupied residential property near Arkansas State University features private outdoor areas and recent unit improvements.
Where is this quadplex located?
The property is located at 404 Scott Street Jonesboro, AR.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Four fully occupied residential units; Each unit offers 2 bedrooms and 1 bath; 2,912 square feet on 0.38 acres
