Renovated Furnished
For Sale
$349,000
5017 S 28th ST, Fort Smith, AR 72901
Multifamily, Fort Smith, AR
Property Size2,040 SF
Lot Size0.18 Acres
Price / SF$171.08
Days on Market140
Property Features for 5017 S 28th ST
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Rooms
Bedroom 2, Bedroom 3, Bedroom 1, Bedroom 4
Window features
Double Pane Windows, Vinyl Frames
Appliances
Dishwasher, Dryer, Electric, Garbage Disposal, Microwave, Oven, Refrigerator, Washer
Subdivision
South Fort Smith
Lot features
Level
High school
Southside
Directions
Phoenix to 28th, south on 28th, Duplex is in left
Standard status
Active
APN
000-000-00000-0000
Size
2,040 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Description
Lot 9 South Fort Smith
Tax Annual Amount
1671
Legal Description
Lot 9 South Fort Smith
Utilities
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Building Details
Year built
2008
Floors in Building
1
Number of units
2
Flooring type
Laminate, Tile - Ceramic
Roof type
Shingle
Listing Agency:
Keller Williams Platinum Realty · Keller Williams Realty
(479) 434-3000
Listed By:
Laura McLean · License #SA00081842
(479) 439-3000
Added: May 27
Changed: Oct 8
Last Checked: Oct 13 at 7:06AM
MLS# 1089338
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.
This duplex contains 2 furnished units, with each offering 2 bedrooms and 1 bathroom. The 2,040-square-foot property was built in 2008 and has been renovated with newer appliances and contemporary finishes. Ceramic tile and laminate flooring run throughout the interiors, while central electric heating and central air conditioning serve the building. The shingle roof and low-carpet layout further simplify upkeep.
The property sits on a 0.18-acre lot at 5017 S 28th ST in Fort Smith, Arkansas, within the Southside school area. Both residences are currently furnished and operating as a short-term rental business. The existing configuration also supports a change to long-term residential leasing, subject to applicable requirements.
The property sits on a 0.18-acre lot at 5017 S 28th ST in Fort Smith, Arkansas, within the Southside school area. Both residences are currently furnished and operating as a short-term rental business. The existing configuration also supports a change to long-term residential leasing, subject to applicable requirements.
Key Highlights
- Duplex with 2 furnished units, each containing 2 bedrooms and 1 bathroom
- 2,040 square feet on a 0.18‑acre lot
- Renovated interiors with newer appliances and modern finishes
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,529
Cap Rate
3.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$270,580
$270.6K
Cap Rate 7%
$193,271
$193.3K
Cap Rate 9%
$150,322
$150.3K
Market Conditions
NOI Build-Up for 2,040 SF
Gross rent
$20.8K $10.20/SF
− Vacancy
−$1.5K −$0.73/SF
EGI
$19.3K $9.47/SF
− OpEx
−$5.8K −$2.84/SF
NOI
$13.5K $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 Rate 5%
$270,580
Cap Rate 7%
$193,271
Cap Rate 9%
$150,322
Alternative Uses
Best Use
Multifamily LT 5
$193.3K
$169.1K – $225.5K
NOI $13,529 @ 7.0% cap · market cap 3.88%
Second Best
Apartment 5plus
$172.6K
$151.0K – $201.4K
NOI $12,081 @ 7.0% cap · market cap 3.46%
Theoretical Best
Healthcare Medical
$434.0K
$379.8K – $506.4K
NOI $30,382 @ 7.0% cap · market cap 8.71%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
447
Businesses Nearby
Explore this area
Business Placement
Demographics for 72901, AR
20,973
Population
10,337
Households
2
Avg Household Size
37
Median Age
21%
College-Educated
81%
High-School Grad
8.7 sq mi
ZIP Area
2,411
Density / Sq Mi
$42,568
Median Household Income
$30,582
Median Earnings
$837
Median Rent
$113,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two updated residential units support furnished short-term rental use or a transition to long-term leasing.
Where is this duplex located?
The property is located at 5017 S 28th ST Fort Smith, AR.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Duplex with 2 furnished units, each containing 2 bedrooms and 1 bathroom; 2,040 square feet on a 0.18‑acre lot; Renovated interiors with newer appliances and modern finishes
