Single-Story Brick
New
For Sale
$269,900
4604 Windsor DR, Fort Smith, AR 72904
Multifamily, Ranch, Traditional, Fort Smith, AR
Property Size2,858 SF
Lot Size0.27 Acres
Price / SF$94.44
Days on Market5
Property Features for 4604 Windsor DR
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Covered
Window features
Single Pane Window(s)
Fireplace
1
Appliances
Dishwasher, Range, Refrigerator
Subdivision
Sutton Estates #2
Lot features
Cleared, Corner, Curbing, Not In Subdivision
Elementary school
Sunnymede
Middle school
Kimmons
High school
Northside
Directions
From Kelly Highway go south on Albert Pike then turn next to Union Christian Academy, the duplex will be down the road on the right.
Standard status
Active
APN
17774-0193-00000-00
Size
2,858 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Description
LOT 193 & WEST 0 TO 10' LOT 192
Tax Annual Amount
1665
Legal Description
LOT 193 & WEST 0 TO 10' LOT 192
Utilities
Heating system
Natural Gas, Central
Cooling system
Central Air, Electric
Amenities
fireplaces
in-unit laundry areas
storage space
Building Details
Year built
1971
Floors in Building
1
Number of units
2
Flooring type
Carpet, Vinyl, Laminate
Roof type
Shingle
Architectural style
Other, Ranch
Listing Agency:
O'Neal Real Estate- Fort Smith
(479) 242-4609
Listed By:
Team Shoppach
(918) 774-5743
Added: Aug 28
Last Checked: Sep 1 at 11:06PM
MLS# 1091477
Copyright © 2026 Western River Valley Board of REALTORS®. 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.
Located at 4604 Windsor Drive in Fort Smith, this single-level brick duplex contains two separate residences within 2,858 square feet. The units include one three-bedroom layout and one two-bedroom layout, with two full baths in each. Interior features include fireplaces, dedicated dining areas, functional kitchens, in-unit laundry areas, and a mix of carpet, vinyl, and laminate flooring. Appliances include dishwashers, ranges, and refrigerators.
The property is situated on 0.2718 acres and provides covered off-street parking through a large carport. Central heating and cooling are supported by natural gas and electric service, and the roof is shingle. Both units have established rental occupancy, while an additional room in the two-bedroom residence presents a documented opportunity to create a third bedroom. Built in 1971, the property combines brick construction with a ranch-style layout and existing rental income.
The property is situated on 0.2718 acres and provides covered off-street parking through a large carport. Central heating and cooling are supported by natural gas and electric service, and the roof is shingle. Both units have established rental occupancy, while an additional room in the two-bedroom residence presents a documented opportunity to create a third bedroom. Built in 1971, the property combines brick construction with a ranch-style layout and existing rental income.
Key Highlights
- 2,858‑square‑foot brick duplex with two separate rental units
- Unit mix includes one three‑bedroom residence and one two‑bedroom residence
- Each unit includes two full baths, a fireplace, dining area, kitchen, and in‑unit laundry
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
$18,953
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
7.02%
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%
$379,060
$379.1K
Cap Rate 7%
$270,757
$270.8K
Cap Rate 9%
$210,589
$210.6K
Market Conditions
NOI Build-Up for 2,858 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
$29.2K $10.20/SF
− Vacancy
−$2.1K −$0.73/SF
EGI
$27.1K $9.47/SF
− OpEx
−$8.1K −$2.84/SF
NOI
$19.0K $6.63/SF
Area
Sebastian County, AR
Vacancy
7.12%
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%
$379,060
Cap Rate 7%
$270,757
Cap Rate 9%
$210,589
Alternative Uses
Best Use
Multifamily LT 5
$270.8K
$236.9K – $315.9K
NOI $18,953 @ 7.0% cap · market cap 7.02%
Second Best
Apartment 5plus
$241.8K
$211.6K – $282.1K
NOI $16,925 @ 7.0% cap · market cap 6.27%
Theoretical Best
Healthcare Medical
$608.1K
$532.1K – $709.4K
NOI $42,565 @ 7.0% cap · market cap 15.77%
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
198
Businesses Nearby
Explore this area
Business Placement
Demographics for 72904, AR
22,402
Population
8,406
Households
2.7
Avg Household Size
33
Median Age
7%
College-Educated
67%
High-School Grad
13.7 sq mi
ZIP Area
1,635
Density / Sq Mi
$40,357
Median Household Income
$28,519
Median Earnings
$817
Median Rent
$108,200
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 rental residences include fireplaces, dining areas, kitchens, and in-unit laundry.
Where is this duplex located?
The property is located at 4604 Windsor DR Fort Smith, AR.
What is the asking price?
The asking price for this property is $269,900.
What are key features of this property?
This property features: 2,858‑square‑foot brick duplex with two separate rental units; Unit mix includes one three‑bedroom residence and one two‑bedroom residence; Each unit includes two full baths, a fireplace, dining area, kitchen, and in‑unit laundry
