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    Luxury Duplexes Investment Opportunity Title is generated by Realmo AI

    404 W Matthews, Brookland, AR 72417

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    Claim this Listing
    For Sale
    $5,790,000

    MULTI_FAMILY - Brookland, AR

    Property size:
    29,000 SF
    Lot size:
    4.49 Acres
    Price / SF:
    $199/SF
    Added:
    Nov 14, 2025
    Days on Market:
    189
    Last Refresh:
    May 22 at 1:06 am

    Property Features for 404 W Matthews

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Property condition
    Under Construction
    Parking features
    Garage
    Patio and Porch features
    Patio
    Interior features
    Dryer-Stays, Hot Water Heater-Electric, Smoke Detector, Breakfast Bar, Fan - Ceiling
    Exterior features
    Patio
    Appliances
    Microwave, Electric Range, Dishwasher, Disposal, Microwave, Electric Range, Dishwasher, Disposal
    Standard status
    Active
    Size
    29,000 SF
    Lot size
    4.49 Acres

    Taxes and HOA fees

    Tax Description
    PART DICKSON'S ADDITION TO BRO
    Tax Annual Amount
    51073

    Building Details

    Year built
    2024
    Floors in Building
    1
    Number of units
    30
    Flooring type
    Vinyl
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Jon Moore

    Listing agent Jon Moore License #00055730

    Listing office Halsey Real Estate 301 W Washington Ave, Suite 200, Jonesboro, AR

    Listing date Nov 14, 2025

    MLS# 25045997 Listing URL

    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.

    HighLights

    • Prime location: Less than 5 minutes from Jonesboro and less than 10 minutes from Paragould.
    • New, luxury duplexes: Built in 2024 with high‑quality construction and modern amenities.
    • Low‑maintenance investment: All‑brick exteriors, 30‑year architectural shingles, and waterproof flooring minimize upkeep.
    • Fully equipped units: Each unit includes all‑electric appliances, a washer, a dryer, and a refrigerator.
    • Strong rental market: Located near Arkansas State University (ASU) and major employers in Jonesboro.
    • Spacious property: Complex situated on 4.5+\/- acres with thirty 2bed/2bath units.

    Overview

    The Wager Place Apartment Complex, situated at 404 W Matthews Street in Brookland, AR, presents a significant investment opportunity. These luxury duplexes, approximately one year old, offer a range of amenities and features. The exteriors boast elegant all-brick construction complemented by high-quality 30-year architectural shingles. Each unit features waterproof flooring and is equipped with all-electric appliances, including a washer, dryer, and refrigerator. The property is located less than 5 minutes from the northeast entrance to Jonesboro and less than 10 minutes from the southern entrance of Paragould, providing accessibility to two major economic hubs in Arkansas. The complex sits on approximately 4.5 acres of land and comprises thirty 2-bedroom, 2-bathroom units distributed across 15 buildings. Jonesboro, home to Arkansas State University (ASU), is a thriving economic center with major employers such as St. Bernards Healthcare, ASU, and NEA Baptist Health System. The property is suitable for investors seeking a low-maintenance investment.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Restaurant Hotel & Motel Department Store HVAC Service Daycare Center Barber Shop Bed & Breakfast Buffet

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Brookland
    County
    Craighead
    State
    Arkansas
    Longitude
    -90.585106
    Latitude
    35.902938

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    FAQs

    What type of property is this?
    Apartment building - Newer luxury duplexes near Jonesboro and Paragould, Arkansas.
    Where is this apartment building located?
    The property is located at 404 W Matthews Brookland, AR.
    What is the asking price?
    The asking price for this property is $5,790,000.
    What are key features of this property?
    This property features: Prime location: Less than 5 minutes from Jonesboro and less than 10 minutes from Paragould.; New, luxury duplexes: Built in 2024 with high‑quality construction and modern amenities.; Low‑maintenance investment: All‑brick exteriors, 30‑year architectural shingles, and waterproof flooring minimize upkeep.
    (870) 219-2308
    We can help!
    Listing Contact
    Jon Moore
    Real Estate License ID: 00055730
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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