New Construction
New
For Sale
$380,000
405 & 407 Church Street, Lonoke, AR 72086
Multi-Family, Traditional, Lonoke, AR
Property Size2,718 SF
Lot Size0.13 Acres
Price / SF$139.81
Days on Market2
Property Features for 405 & 407 Church Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
6
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 1, Bathroom 6, Bedroom 3, Bathroom 2, Bedroom 4, Bedroom 5, Bathroom 5, Bathroom 3, Bedroom 2, Bathroom 4, Bedroom 1, Bedroom 6
Parking features
Garage
Patio and Porch features
Porch
Interior features
Washer Connection, Dryer Connection-Electric, Hot Water Heater-Electric, Smoke Detector, Breakfast Bar, Closet - Walk In, Fan - Ceiling, Primary Bedroom with Bath
Exterior features
Guttering, Porch
Appliances
Free-Standing Stove, Microwave, Electric Range, Dishwasher, Disposal, Ice Maker Connection, Free-Standing Stove, Microwave, Electric Range, Dishwasher, Disposal, Ice Maker Connection
Subdivision
OT Wrights
Lot features
Level, Cleared, In Subdivision
Elementary school
Lonoke
Middle school
Lonoke
High school
Lonoke
Directions
From I-40 take exit 173 for AR-89 towards Lonoke. After a mile, turn L onto W 3rd St after the cemetery. After .7 miles take a L on Church Street. Building will be on your Right, second building from the corner of Church and 4th Street.
Standard status
Active
Size
2,718 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Lot 9, Block 26
Tax Annual Amount
134
Legal Description
Lot 9, Block 26
Amenities
hall laundry
Building Details
Year built
2026
Floors in Building
2
Number of units
2
Flooring type
Vinyl
Roof type
Shingle
Architectural style
Other
Listing Agency:
Fathom Realty Central
(888) 455-6040
Listed By:
Miekka Maile
(501) 941-8830
Added: Aug 21
Last Checked: Aug 22 at 12:06AM
MLS# 26034128
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 under-construction duplex contains 2718 square feet across two residential units, with an all brick and stone exterior and a 2026 build year. Each unit is arranged with three bedrooms and 2 1/2 baths. The main level includes living space, a half bath, and a one-car garage, while the upper level provides a primary bedroom with private bath and walk-in closet, two additional bedrooms, and a shared bathroom. Luxury vinyl flooring, porches, electric washer and dryer connections, and electric water heaters are included. Kitchens are equipped with a stove, microwave, dishwasher, disposal, and ice maker connection.
The property sits on 0.13 acres at 405 & 407 Church Street in Lonoke, just blocks from the historic courthouse and downtown area.
The property sits on 0.13 acres at 405 & 407 Church Street in Lonoke, just blocks from the historic courthouse and downtown area.
Key Highlights
- Two‑unit duplex with 2718 square feet of total property size
- Each unit includes 3 bedrooms and 2 1/2 baths
- One‑car garage per unit opens directly into the downstairs living area
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
$24,809
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
6.53%
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%
$496,180
$496.2K
Cap Rate 7%
$354,414
$354.4K
Cap Rate 9%
$275,656
$275.7K
Market Conditions
NOI Build-Up for 2,718 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
$37.5K $13.80/SF
− Vacancy
−$2.1K −$0.76/SF
EGI
$35.4K $13.04/SF
− OpEx
−$10.6K −$3.91/SF
NOI
$24.8K $9.13/SF
Area
Lonoke County, AR
Vacancy
5.51%
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%
$496,180
Cap Rate 7%
$354,414
Cap Rate 9%
$275,656
Alternative Uses
Best Use
Multifamily LT 5
$354.4K
$310.1K – $413.5K
NOI $24,809 @ 7.0% cap · market cap 6.53%
Second Best
Apartment 5plus
$313.8K
$274.6K – $366.1K
NOI $21,968 @ 7.0% cap · market cap 5.78%
Theoretical Best
Office A
$553.4K
$484.2K – $645.6K
NOI $38,738 @ 7.0% cap · market cap 10.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
396
Businesses Nearby
Explore this area
Business Placement
Demographics for 72086, AR
10,673
Population
4,983
Households
2.1
Avg Household Size
40
Median Age
12%
College-Educated
84%
High-School Grad
164.1 sq mi
ZIP Area
65
Density / Sq Mi
$59,450
Median Household Income
$41,176
Median Earnings
$945
Median Rent
$151,700
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?
Duplex - Two residential units offer matching layouts with private garages, upstairs bedroom suites, and in-unit laundry connections.
Where is this duplex located?
The property is located at 405 & 407 Church Street Lonoke, AR.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: Two‑unit duplex with 2718 square feet of total property size; Each unit includes 3 bedrooms and 2 1/2 baths; One‑car garage per unit opens directly into the downstairs living area
