Three-Unit Multifamily
New
For Sale
$399,900
515 S Washington Street, Siloam Springs, AR 72761
Residential, Siloam Springs, AR
Property Size2,637 SF
Lot Size0.52 Acres
Price / SF$151.65
Days on Market1
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
Bathroom 1, Bedroom 6, Bedroom 2, Bathroom 3, Bedroom 3, Bathroom 4, Bedroom 1, Bathroom 2, Bedroom 5, Bedroom 4
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, Not In Subdivision
Elementary school district
Siloam Springs
Middle school district
Siloam Springs
High school district
Siloam Springs
Directions
From Mt. Olive street, head East on Jefferson St, then right on Washington St. Property is on the left, a short walk from Chautauqua Park and historic downtown Siloam Springs.
Standard status
Active
APN
03-01468-000
Size
2,637 SF
Lot size
0.52 Acres
Additional Details
Tenant in Place
Yes
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
Tile, Wood
Building materials
AluminumSiding, WoodSiding
Roof type
Asphalt, Shingle
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: Nov 2
Last Checked: Nov 2 at 4:06PM
MLS# 1366842
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.
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Investment Insights
Based on property information with market context.
This three-residence multifamily property includes a 3-bedroom main house, a 1-bedroom suite, and a detached 2-bedroom barndominium. The buildings total 2,637 square feet on 0.52 acres, with a detached two-car garage. Renovations included new plumbing and modernized systems; original wood floors and ceilings were also refinished. The property was built in 1920.
All three residences are leased, and tenants are on 30-day notice. The property is professionally managed and is near Chautauqua Park, the library, and historic downtown Siloam Springs.
All three residences are leased, and tenants are on 30-day notice. The property is professionally managed and is near Chautauqua Park, the library, and historic downtown Siloam Springs.
Key Highlights
- Three separate rental residences: a 3‑bedroom main house, 1‑bedroom suite, and detached 2‑bedroom barndominium
- 2,637 square feet across the property on 0.52 acres
- All residences leased; tenants are on 30‑day notice
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,477
Cap Rate
5.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$429,540
$429.5K
Cap Rate 7%
$306,814
$306.8K
Cap Rate 9%
$238,633
$238.6K
Market Conditions
NOI Build-Up for 2,637 SF
Gross rent
$41.5K $15.72/SF
− Vacancy
−$2.4K −$0.91/SF
EGI
$39.0K $14.81/SF
− OpEx
−$17.6K −$6.66/SF
NOI
$21.5K $8.14/SF
Area
Benton County, AR
Vacancy
5.80%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$429,540
Cap Rate 7%
$306,814
Cap Rate 9%
$238,633
Alternative Uses
Best Use
Apartment 5plus
$306.8K
$268.5K – $358.0K
NOI $21,477 @ 7.0% cap · market cap 5.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$724.7K
$634.1K – $845.5K
NOI $50,727 @ 7.0% cap · market cap 12.68%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
773
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Three rental residences share one parcel, with a detached garage and professional property management in place.
Where is this multifamily property 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 $399,900.
What are key features of this property?
This property features: Three separate rental residences: a 3‑bedroom main house, 1‑bedroom suite, and detached 2‑bedroom barndominium; 2,637 square feet across the property on 0.52 acres; All residences leased; tenants are on 30‑day notice
