Residential Income Triplex
For Sale
$429,900
515 S Washington Street, Siloam Springs, AR 72761
MULTI_FAMILY - Other - Siloam Springs, AR
Property Size2,637 SF
Lot Size0.52 Acres
Price / SF$163.03
Days on Market107
Property Features for 515 S Washington Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bathroom 4, Bedroom 4, Bedroom 3, Bathroom 3, Bedroom 1, Bathroom 2, Bedroom 6, Bedroom 5, Bathroom 1
Parking features
Garage
Window features
Wood Frames
Patio and Porch features
Porch
Appliances
Dishwasher, ElectricOven, ElectricRange, GasCooktop, GasWaterHeater, Refrigerator, Washer
Subdivision
Carters Add Siloam Spgs
Lot features
Central Business District, City Lot, Level
Directions
Directions:From 412, turn North on Mt. Olive. Then turn right on Jefferson. Turn right on Washington. House will be on the left.
Standard status
Active
APN
03-01468-000
Size
2,637 SF
Lot size
0.52 Acres
Taxes and HOA fees
Tax Description
PART OF NE 1/4 OF SE 1/4 OF SECTION 6, TOWNSHIP 17 NORTH, RANGE 33 WEST, BEGINNING AT A POINT 228 AND 3/4 FEET SOUTH OF THE NW CORNER OF SAID 40 ACRE TRACT; THENCE SOUTH 108 1/3 FEET; THENCE EAST 208 3/4 FEET; THENCE NORTH 108 1/3 FEET; THENCE WEST 208 3/
Tax Annual Amount
2150
Legal Description
PART OF NE 1/4 OF SE 1/4 OF SECTION 6, TOWNSHIP 17 NORTH, RANGE 33 WEST, BEGINNING AT A POINT 228 AND 3/4 FEET SOUTH OF THE NW CORNER OF SAID 40 ACRE TRACT; THENCE SOUTH 108 1/3 FEET; THENCE EAST 208 3/4 FEET; THENCE NORTH 108 1/3 FEET; THENCE WEST 208 3/
Utilities
Heating system
Central, Natural Gas
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1920
Floors in Building
2
Number of units
3
Flooring type
Wood, Tile
Building materials
AluminumSiding, WoodSiding
Roof type
Shingle, Asphalt
Architectural style
Other
Listing Agency:
Keller Williams Market Pro Realty - Siloam Springs · Keller Williams Realty
(479) 718-2800
Listed By:
Jason Lanker · License #SA00099154
(479) 427-9246
Added: Apr 15
Changed: Jul 28
Last Checked: Jul 30 at 6:06PM
MLS# 1343011
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.
This property is a three-unit residential income setup centered on a rebuilt 1900s farmhouse. The main house offers three bedrooms and two bathrooms, with refinished hardwood floors and original ceilings. A private mother-in-law suite sits alongside the main home, and a fully separate barndominium behind the farmhouse provides a third living space with its own entrance. A detached two-car garage complements the layout, and the home has new plumbing and modern systems throughout.
Located steps from historic downtown, the property is within walking distance of Chautauqua Park and the library. The setting includes a half-acre lot shaded by mature trees, providing outdoor space for tenants across all three units.
All units are rented and professionally managed, with tenants on flexible 30-day agreements. This configuration supports a variety of owner objectives, whether maintaining current rental operations, moving in while retaining income, or holding the property long-term. The detached garage, separate barndominium entrance, and turnkey updates are designed for straightforward use from day one.
Located steps from historic downtown, the property is within walking distance of Chautauqua Park and the library. The setting includes a half-acre lot shaded by mature trees, providing outdoor space for tenants across all three units.
All units are rented and professionally managed, with tenants on flexible 30-day agreements. This configuration supports a variety of owner objectives, whether maintaining current rental operations, moving in while retaining income, or holding the property long-term. The detached garage, separate barndominium entrance, and turnkey updates are designed for straightforward use from day one.
Key Highlights
- Year built 1920 farmhouse with three units and all units rented and professionally managed
- Half‑acre lot with shaded outdoor space and a porch
- Detached two‑car garage plus a separate barndominium behind the main house with its own entrance
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $36.4k | $13.80 |
| − Vacancy | −$2.0k | −$0.76 |
| EGI | $34.4k | $13.04 |
| − OpEx | −$10.3k | −$3.91 |
| NOI | $24.1k | $9.13 |
2,637 SF · lease $13.80/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$343.9K
$300.9K – $401.2K
NOI $24,070 @ 7.0% cap · market cap 5.60%
Second Best
Apartment 5plus
$306.8K
$268.5K – $358.0K
NOI $21,477 @ 7.0% cap · market cap 5.00%
Theoretical Best
Office A
$724.7K
$634.1K – $845.5K
NOI $50,727 @ 7.0% cap · market cap 11.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
773
Businesses Nearby
Explore this area
Business Placement
Demographics for 72761, AR
23,731
Population
9,101
Households
2.6
Avg Household Size
33
Median Age
29%
College-Educated
86%
High-School Grad
114.1 sq mi
ZIP Area
208
Density / Sq Mi
$69,620
Median Household Income
$35,724
Median Earnings
$936
Median Rent
$218,700
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?
Triplex - Three fully rented living spaces with separate entrances and modern systems on a half-acre lot.
Where is this triplex located?
The property is located at 515 S Washington Street Siloam Springs, AR.
What is the asking price?
The asking price for this property is $429,900.
What are key features of this property?
This property features: Year built 1920 farmhouse with three units and all units rented and professionally managed; Half‑acre lot with shaded outdoor space and a porch; Detached two‑car garage plus a separate barndominium behind the main house with its own entrance
