Remodeled Duplex with
New
For Sale
$575,000
509 & 511 N 37th St, Rogers, AR 72756
Two-unit residential property with updated interiors, private fireplaces, and a fully fenced backyard.
Property Size3,477 SF
Price / SF$165.37
Days on Market2
Property Features for 509 & 511 N 37th St
General Information
Standard status
Active
Size
3,477 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Amenities
fireplace
fully fenced backyard
Building Details
Buildings
1
Listing Agency:
Lindsey & Assoc Inc Branch
Listed By:
Bob Orband, Dalton Orband
Source:
Thesummithometeam
Added: Sep 21
Last Checked: Sep 21 at 2:43PM
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 Lindsey & Assoc Inc Branch
Investment Insights
Based on property information with market context.
This 3,477-square-foot duplex contains two residential units, each with three bedrooms, two full bathrooms, and a fireplace. Both sides have undergone extensive remodeling and include updated finishes, functional floor plans, and completed improvements. A fully fenced backyard provides each household with private outdoor space.
Located at 509 & 511 N 37th St in Rogers, the property is positioned near shopping, dining, schools, and other local amenities. The two-unit configuration supports either owner occupancy with a separate rental unit or continued use as a multifamily property.
Located at 509 & 511 N 37th St in Rogers, the property is positioned near shopping, dining, schools, and other local amenities. The two-unit configuration supports either owner occupancy with a separate rental unit or continued use as a multifamily property.
Key Highlights
- 3,477 sq. ft. duplex at 509 & 511 N 37th St, Rogers, AR 72756
- Two units, each with 3 bedrooms and 2 full bathrooms
- Fireplace included in each unit
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
$31,737
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
5.52%
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%
$634,740
$634.7K
Cap Rate 7%
$453,386
$453.4K
Cap Rate 9%
$352,633
$352.6K
Market Conditions
NOI Build-Up for 3,477 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
$48.0K $13.80/SF
− Vacancy
−$2.6K −$0.76/SF
EGI
$45.3K $13.04/SF
− OpEx
−$13.6K −$3.91/SF
NOI
$31.7K $9.13/SF
Area
Benton 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%
$634,740
Cap Rate 7%
$453,386
Cap Rate 9%
$352,633
Alternative Uses
Best Use
Multifamily LT 5
$453.4K
$396.7K – $529.0K
NOI $31,737 @ 7.0% cap · market cap 5.52%
Second Best
Apartment 5plus
$404.6K
$354.0K – $472.0K
NOI $28,319 @ 7.0% cap · market cap 4.93%
Theoretical Best
Office A
$955.5K
$836.1K – $1.11M
NOI $66,885 @ 7.0% cap · market cap 11.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
607
Businesses Nearby
Explore this area
Business Placement
Demographics for 72756, AR
41,875
Population
17,225
Households
2.4
Avg Household Size
37
Median Age
24%
College-Educated
86%
High-School Grad
129.9 sq mi
ZIP Area
322
Density / Sq Mi
$70,900
Median Household Income
$37,510
Median Earnings
$914
Median Rent
$243,000
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-unit residential property with updated interiors, private fireplaces, and a fully fenced backyard.
Where is this duplex located?
The property is located at 509 & 511 N 37th St Rogers, AR.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 3,477 sq. ft. duplex at 509 & 511 N 37th St, Rogers, AR 72756; Two units, each with 3 bedrooms and 2 full bathrooms; Fireplace included in each unit
