Apartment Complex with Duplex
404 W Matthews Brookland, AR 72417
404 W Matthews, Brookland, AR, 72417
$5,790,000
For Sale
$5,790,000
MULTI_FAMILY - Brookland, AR
Property Size29,000 SF
Lot Size4.49 Acres
Price / SF$199.66
Days on Market49
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
Listing agency
Halsey Real Estate
(870) 972-9191
Listed by
Jon Moore · License #00055730
(870) 219-2308
Added: Jun 3 Updated: Jun 4 at 6:19PM Checked: Jul 21 at 10:06AM
MLS# 26022554
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.
The Wager Place Apartment Complex consists of 30 one-year-old luxury duplex units arranged in 15 buildings on a 4.49+/- acre site. The exterior is described as all-brick, with 30-year architectural shingles. Interior features noted include waterproof flooring, and all-electric appliances. Each unit is also described as having a washer, dryer, and refrigerator included, supporting an in-place, turnkey resident experience.
The property is located at 404 W Matthews Street in Brookland, Arkansas. Public remarks indicate it is less than 5 minutes from the northeast entrance to Jonesboro and less than 10 minutes from the southern entrance of Paragould, providing convenient access to both regional areas.
This apartment complex may fit buyers seeking a multifamily property organized around consistent 2-bedroom, 2-bath layouts, delivered as duplex-style units with described building materials and resident-ready appliance and laundry provisions. With units spread across 15 separate buildings, the configuration is designed to keep the community organized while maintaining a manageable site footprint.
The property is located at 404 W Matthews Street in Brookland, Arkansas. Public remarks indicate it is less than 5 minutes from the northeast entrance to Jonesboro and less than 10 minutes from the southern entrance of Paragould, providing convenient access to both regional areas.
This apartment complex may fit buyers seeking a multifamily property organized around consistent 2-bedroom, 2-bath layouts, delivered as duplex-style units with described building materials and resident-ready appliance and laundry provisions. With units spread across 15 separate buildings, the configuration is designed to keep the community organized while maintaining a manageable site footprint.
Key Highlights
- Under construction duplex apartment complex with 2024 year built
- 30 two‑bedroom, two‑bath units in 15 buildings
- All‑brick exteriors with 30‑year architectural shingle roof
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $337.6k | $11.64 |
| − Vacancy | −$21.3k | −$0.73 |
| EGI | $316.3k | $10.91 |
| − OpEx | −$142.3k | −$4.91 |
| NOI | $174.0k | $6.00 |
29,000 SF · lease $11.64/SF/yr · vacancy 6.30% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.49M
$2.17M – $2.90M
NOI $173,962 @ 7.0% cap · market cap 3.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.08M
$4.44M – $5.92M
NOI $355,400 @ 7.0% cap · market cap 6.14%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - One-year-old brick duplex complex offers 30 two-bedroom, two-bath units across 15 buildings.
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: Under construction duplex apartment complex with 2024 year built; 30 two‑bedroom, two‑bath units in 15 buildings; All‑brick exteriors with 30‑year architectural shingle roof
