Fully Remodeled Duplex With Fenced
For Sale
$575,000
509 & 511 N 37th Street, Rogers, AR 72756
MULTI_FAMILY - Other - Rogers, AR
Property Size3,477 SF
Lot Size0.26 Acres
Price / SF$165.37
Days on Market108
Property Features for 509 & 511 N 37th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Multi Family
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 6, Bathroom 4, Bedroom 5, Bedroom 1, Bedroom 2, Bedroom 4, Bathroom 1, Bathroom 3, Bedroom 3, Bathroom 2
Parking features
Garage, Open
Interior features
CeilingFans, SolidSurfaceCounters
Exterior features
ConcreteDriveway
Fencing
Privacy
Fireplace
1
Appliances
Dishwasher, ElectricOven, Disposal, GasWaterHeater
Subdivision
Sundance Acres Ph 2 Rogers
Lot features
City Lot, Landscaped
Elementary school district
Rogers
Middle school district
Rogers
High school district
Rogers
Directions
From I-49, exit 85 / E on Walnut / L on 40th St / R on Beechwood Dr / L on 37th St / Property is on right.
Standard status
Active
APN
02-07967-000
Size
3,477 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Description
STR 10-19-30
Tax Annual Amount
1232
Legal Description
STR 10-19-30
Utilities
Sewer type
Public Sewer
Heating system
Central, Natural Gas
Cooling system
Central Air, Electric
Water source
Public
Amenities
fireplace
fully fenced backyard
Building Details
Floors in Building
2
Number of units
2
Flooring type
Vinyl
Building materials
Brick, VinylSiding
Roof type
Shingle, Asphalt
Architectural style
Other
Listing Agency:
Lindsey & Assoc Inc Branch
(479) 636-2200
Listed By:
Bob Orband · License #SA00061791
(479) 659-1804
Added: Apr 24
Changed: Aug 2
Last Checked: Aug 9 at 10:06PM
MLS# 1344530
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.
Well-maintained and fully remodeled duplex totaling 3,477 SF, offering two spacious units. Each unit features three bedrooms and two full bathrooms, plus its own fireplace that adds warmth to the living space. Updates throughout both sides support a move-in ready layout for owner-occupants and investors alike. Both units include functional, comfortable floor plans with modern finishes and thoughtful improvements.
The property sits on a 0.26-acre lot and includes a fully fenced backyard, providing privacy and usable outdoor space for residents. Exterior features include a concrete driveway, with construction materials of brick and vinyl siding, and a shingle asphalt roof.
Additional conveniences include ceiling fans, solid surface counters, central heating with natural gas, and central air with electric cooling. Public water and public sewer are available. Parking features include a garage and open parking, and appliances include a dishwasher, electric oven, disposal, and gas water heater.
The property sits on a 0.26-acre lot and includes a fully fenced backyard, providing privacy and usable outdoor space for residents. Exterior features include a concrete driveway, with construction materials of brick and vinyl siding, and a shingle asphalt roof.
Additional conveniences include ceiling fans, solid surface counters, central heating with natural gas, and central air with electric cooling. Public water and public sewer are available. Parking features include a garage and open parking, and appliances include a dishwasher, electric oven, disposal, and gas water heater.
Key Highlights
- Total size of 3,477 SF across two units on a 0.26‑acre lot
- Two units, each with three bedrooms and two full bathrooms
- Fireplace 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
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
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
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 - Fully remodeled duplex with two three-bedroom units, fireplaces, and a fully fenced backyard for added privacy.
Where is this duplex located?
The property is located at 509 & 511 N 37th Street 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: Total size of 3,477 SF across two units on a 0.26‑acre lot; Two units, each with three bedrooms and two full bathrooms; Fireplace in each unit
