5-Unit New Construction Apartment
New
For Sale
$1,734,480
450-490 Onyx Road, Centerton, AR 72719
MULTI_FAMILY - Contemporary - Centerton, AR
Property Size7,982 SF
Lot Size0.54 Acres
Price / SF$217.30
Days on Market7
Property Features for 450-490 Onyx Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Bedrooms
15
Bathrooms
15
Full bathrooms
10
Half bathrooms
5
Rooms
Bedroom 2, Bedroom 11, Bathroom 10, Bedroom 14, Bathroom 11, Bathroom 12, Bedroom 10, Bathroom 3, Bedroom 9, Bedroom 8, Bedroom 12, Bedroom 4, Bedroom 15, Bathroom 14, Bedroom 13, Bathroom 2, Bedroom 5, Bathroom 13, Bathroom 8, Bathroom 5, Bathroom 7, Bedroom 6, Bathroom 9, Bathroom 6, Bathroom 1, Bathroom 4, Bathroom 15, Bedroom 7, Bedroom 1, Bedroom 3
Parking features
Garage, Open
Patio and Porch features
Patio, Porch
Exterior features
ConcreteDriveway
Fireplace
1
Appliances
Dishwasher, ElectricWaterHeater, Disposal, GasOven, GasRange, Microwave, RangeHood
Subdivision
Crystal Cove Phase II
Lot features
Cleared, Level, Near Park, Subdivision
Directions
From HWY 279, turn North onto Keller Rd. Left on Lapis Ave., Right on Onyx Road, property is on Right.
Standard status
Active
APN
06-09258-000
Size
7,982 SF
Lot size
0.54 Acres
Taxes and HOA fees
Tax Description
PLAT 3/28/2024 L202415156 CRYSTAL COVE PH II-CENTERTON OF 3/28/2024 L202415156 (AKA CRYSTAL COVE HORIZONTAL PROPERTY REGIME-MASTER DEED 3/28/2024 L202415158 & AMENDED MASTER DEED 5/14/2024 L202424714(BYLAWS EXHIBIT C PG 36)-SEE ADMIN NTS REGARDING
Tax Annual Amount
21472
Legal Description
PLAT 3/28/2024 L202415156 CRYSTAL COVE PH II-CENTERTON OF 3/28/2024 L202415156 (AKA CRYSTAL COVE HORIZONTAL PROPERTY REGIME-MASTER DEED 3/28/2024 L202415158 & AMENDED MASTER DEED 5/14/2024 L202424714(BYLAWS EXHIBIT C PG 36)-SEE ADMIN NTS REGARDING
Utilities
Sewer type
Public Sewer
Heating system
Central, Natural Gas
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
2026
Floors in Building
2
Number of units
5
Flooring type
Carpet, Tile
Building materials
Brick, Concrete
Roof type
Shingle
Architectural style
Contemporary
Listing Agency:
Lone Rock Realty
(479) 777-3379
Listed By:
Colley Bailey · License #PB00076160
(479) 856-9422
Added: Aug 14
Last Checked: Aug 20 at 1:06PM
MLS# 1358910
Copyright © 2026 ArkansasONE MLS. 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.
Crystal Cove Townhomes is an under-construction multifamily property at 450-490 Onyx Road in Centerton, Arkansas. The development includes five apartment units totaling 7,982 square feet, with approximately 1,606 square feet per unit and 15 bedrooms overall. Each residence is configured with three bedrooms and 2.5 baths, including a main-level primary suite, open living space, vaulted ceilings, and an electric fireplace. Upper levels add two bedrooms, a full bath, and a loft-style overlook.
Private backyard areas, covered patios, garages, and open parking are provided for the units. Construction materials include brick and concrete, with central heating and cooling, public water, public sewer, and shingle roofing. The contemporary property is scheduled for completion in 2026 and sits on 0.54 acres in Benton County.
Private backyard areas, covered patios, garages, and open parking are provided for the units. Construction materials include brick and concrete, with central heating and cooling, public water, public sewer, and shingle roofing. The contemporary property is scheduled for completion in 2026 and sits on 0.54 acres in Benton County.
Key Highlights
- Five‑unit multifamily development with 15 total bedrooms
- 7,982 square feet across five apartment units
- Approximately 1,606 square feet per unit with 3 bedrooms and 2.5 baths
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
$65,010
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
3.75%
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%
$1,300,200
$1.3M
Cap Rate 7%
$928,714
$928.7K
Cap Rate 9%
$722,333
$722.3K
Market Conditions
NOI Build-Up for 7,982 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
$125.5K $15.72/SF
− Vacancy
−$7.3K −$0.91/SF
EGI
$118.2K $14.81/SF
− OpEx
−$53.2K −$6.66/SF
NOI
$65.0K $8.14/SF
Area
Benton County, AR
Vacancy
5.80%
Lease Rate
$15.72 /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%
$1,300,200
Cap Rate 7%
$928,714
Cap Rate 9%
$722,333
Alternative Uses
Best Use
Apartment 5plus
$928.7K
$812.6K – $1.08M
NOI $65,010 @ 7.0% cap · market cap 3.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.19M
$1.92M – $2.56M
NOI $153,546 @ 7.0% cap · market cap 8.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
53
Businesses Nearby
Explore this area
Business Placement
Demographics for 72719, AR
16,248
Population
6,989
Households
2.3
Avg Household Size
30
Median Age
39%
College-Educated
96%
High-School Grad
9.2 sq mi
ZIP Area
1,766
Density / Sq Mi
$111,250
Median Household Income
$61,073
Median Earnings
$1,432
Median Rent
$283,300
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 - Contemporary apartments feature private outdoor areas and primary suites located on the main level.
Where is this apartment building located?
The property is located at 450-490 Onyx Road Centerton, AR.
What is the asking price?
The asking price for this property is $1,734,480.
What are key features of this property?
This property features: Five‑unit multifamily development with 15 total bedrooms; 7,982 square feet across five apartment units; Approximately 1,606 square feet per unit with 3 bedrooms and 2.5 baths
