Brick Duplex with
For Sale
$350,000
Pending
4901/4903 Morgans Way, Fort Smith, AR 72916
All-electric duplex with two occupied residences, private patios, and attached garages.
Property Size2,525 SF
Days on Market10
Property Features for 4901/4903 Morgans Way
General Information
Standard status
Pending
Size
2,525 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Amenities
patio
Building Details
Year Built
2001
Buildings
1
Construction
brick
Listing Agency:
Homesweet Realty
(479) 895-0895
Listed By:
Bradford & Udouj Realtors
(479) 646-5539
Source:
Bradfordudouj
Added: Sep 18
Changed: Sep 26
Last Checked: Sep 26 at 6:54AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Homesweet Realty
Investment Insights
Based on property information with market context.
Built in 2001, this brick duplex contains two separate three-bedroom, two-bath residences within approximately 2,525 square feet. Each unit includes a two-car garage, patio, and all-electric utilities, providing consistent features across both sides of the property.
The duplex is located at 4901/4903 Morgans Way in Fort Smith, Arkansas, and both residences are fully occupied. The two-unit layout, garage parking, and established occupancy support continued use as a residential income property.
The duplex is located at 4901/4903 Morgans Way in Fort Smith, Arkansas, and both residences are fully occupied. The two-unit layout, garage parking, and established occupancy support continued use as a residential income property.
Key Highlights
- Two 3‑bedroom, 2‑bath units
- 2525 property size
- Each unit includes a 2‑car garage and patio
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
$16,745
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
4.78%
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%
$334,900
$334.9K
Cap Rate 7%
$239,214
$239.2K
Cap Rate 9%
$186,056
$186.1K
Market Conditions
NOI Build-Up for 2,525 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
$25.8K $10.20/SF
− Vacancy
−$1.8K −$0.73/SF
EGI
$23.9K $9.47/SF
− OpEx
−$7.2K −$2.84/SF
NOI
$16.7K $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%
$334,900
Cap Rate 7%
$239,214
Cap Rate 9%
$186,056
Alternative Uses
Best Use
Multifamily LT 5
$239.2K
$209.3K – $279.1K
NOI $16,745 @ 7.0% cap · market cap 4.78%
Second Best
Apartment 5plus
$213.6K
$186.9K – $249.2K
NOI $14,953 @ 7.0% cap · market cap 4.27%
Theoretical Best
Healthcare Medical
$537.2K
$470.1K – $626.8K
NOI $37,605 @ 7.0% cap · market cap 10.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
72
Businesses Nearby
Explore this area
Business Placement
Demographics for 72916, AR
10,250
Population
4,720
Households
2.2
Avg Household Size
41
Median Age
45%
College-Educated
92%
High-School Grad
37.7 sq mi
ZIP Area
272
Density / Sq Mi
$88,125
Median Household Income
$51,444
Median Earnings
$1,212
Median Rent
$257,100
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 - All-electric duplex with two occupied residences, private patios, and attached garages.
Where is this duplex located?
The property is located at 4901/4903 Morgans Way Fort Smith, AR.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Two 3‑bedroom, 2‑bath units; 2525 property size; Each unit includes a 2‑car garage and patio
