Occupied Two-Unit
For Sale
$140,000
515 N 12th ST Unit #A & B, Fort Smith, AR 72901
Multifamily, Fort Smith, AR
Property Size1,628 SF
Lot Size0.16 Acres
Price / SF$85
Days on Market52
Property Features for 515 N 12th ST Unit #A & B
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Multi Family
Bedrooms
4
Rooms
Bedroom 1, Bedroom 3, Bedroom 2, Bedroom 4
Subdivision
City
Lot features
Curbing, In Subdivision
Elementary school
Howard
Middle school
Darby
High school
Northside
Elementary school district
Fort Smith
Middle school district
Fort Smith
High school district
Fort Smith
Directions
Take exit 6 for Grand Ave Turn left onto Grand Ave Turn right onto N D St Turn right onto N 12th St
Standard status
Active
APN
11317-0009-00075-00
Size
1,628 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Description
LOT 9 BLK 75
Tax Annual Amount
628
Legal Description
LOT 9 BLK 75
Utilities
Heating system
Central
Cooling system
Central Air, Window Unit(s)
Building Details
Year built
1990
Floors in Building
1
Number of units
2
Flooring type
Wood
Roof type
Shingle
Listing Agency:
The Heritage Group Real Estate - Barling
(479) 806-5955
Listed By:
Adrienne Lyons
(479) 883-8301
Added: Jul 26
Changed: Sep 15
Last Checked: Sep 15 at 5:06PM
MLS# 1090687
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 two-unit duplex contains 1,628 square feet on a 0.16-acre lot, with each residence offering 2 bedrooms and 1 bathroom. Both units are occupied by long-term tenants. The property was built in 1990 and includes wood flooring, central heating, central air, and a window unit. Shingle roofing and all-electric utilities serve the building.
Located at 515 N 12th ST Unit #A & B in Fort Smith, the property is zoned Multi Family. It is being offered in as-is condition and may benefit from updating, providing a clear path for an investor seeking to improve an existing two-unit rental property.
Located at 515 N 12th ST Unit #A & B in Fort Smith, the property is zoned Multi Family. It is being offered in as-is condition and may benefit from updating, providing a clear path for an investor seeking to improve an existing two-unit rental property.
Key Highlights
- Both units are occupied by long‑term tenants
- Two‑unit duplex with 1,628 square feet on 0.16 acres
- Each unit includes 2 bedrooms and 1 bathroom
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
$10,796
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
7.71%
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%
$215,920
$215.9K
Cap Rate 7%
$154,229
$154.2K
Cap Rate 9%
$119,956
$120.0K
Market Conditions
NOI Build-Up for 1,628 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
$16.6K $10.20/SF
− Vacancy
−$1.2K −$0.73/SF
EGI
$15.4K $9.47/SF
− OpEx
−$4.6K −$2.84/SF
NOI
$10.8K $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%
$215,920
Cap Rate 7%
$154,229
Cap Rate 9%
$119,956
Alternative Uses
Best Use
Multifamily LT 5
$154.2K
$135.0K – $179.9K
NOI $10,796 @ 7.0% cap · market cap 7.71%
Second Best
Apartment 5plus
$137.7K
$120.5K – $160.7K
NOI $9,641 @ 7.0% cap · market cap 6.89%
Theoretical Best
Healthcare Medical
$346.4K
$303.1K – $404.1K
NOI $24,246 @ 7.0% cap · market cap 17.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,125
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Both units have long-term tenants and all-electric utilities, providing an established rental configuration.
Where is this duplex located?
The property is located at 515 N 12th ST Unit #A & B Fort Smith, AR.
What is the asking price?
The asking price for this property is $140,000.
What are key features of this property?
This property features: Both units are occupied by long‑term tenants; Two‑unit duplex with 1,628 square feet on 0.16 acres; Each unit includes 2 bedrooms and 1 bathroom
