Triplex with Detached Two-Car
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 Market125
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 3, Bathroom 2, Bathroom 4, Bedroom 4, Bathroom 1, Bedroom 1, Bedroom 6, Bedroom 5, Bathroom 3, Bedroom 2
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
Tile, Wood
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: Aug 1
Last Checked: Aug 17 at 7:06PM
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.
Triplex offering three separate living spaces on a 0.52-acre lot, built in 1920. The main house features three bedrooms and two baths 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 main house provides a third living space with its own entrance. A detached two-car garage and porch add to the setup.
Every unit is rented and professionally managed. Tenants are on flexible 30-day agreements. The home includes central heating with natural gas and central air plus electric cooling, with public water, and a shingle/asphalt roof. The property notes all new plumbing and modern systems throughout.
Positioned for walkability to Chautauqua Park, the library, and historic downtown, this is a configuration built for multi-space occupancy with independent access across the three units.
Every unit is rented and professionally managed. Tenants are on flexible 30-day agreements. The home includes central heating with natural gas and central air plus electric cooling, with public water, and a shingle/asphalt roof. The property notes all new plumbing and modern systems throughout.
Positioned for walkability to Chautauqua Park, the library, and historic downtown, this is a configuration built for multi-space occupancy with independent access across the three units.
Key Highlights
- Three units, fully rented with professional management
- Main house: three bedrooms and two baths with refinished hardwood floors
- Private mother‑in‑law suite plus separate barndominium with its own entrance
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
$24,070
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
5.60%
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%
$481,400
$481.4K
Cap Rate 7%
$343,857
$343.9K
Cap Rate 9%
$267,444
$267.4K
Market Conditions
NOI Build-Up for 2,637 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
$36.4K $13.80/SF
− Vacancy
−$2.0K −$0.76/SF
EGI
$34.4K $13.04/SF
− OpEx
−$10.3K −$3.91/SF
NOI
$24.1K $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%
$481,400
Cap Rate 7%
$343,857
Cap Rate 9%
$267,444
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
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 - Triplex offering fully rented, professionally managed living spaces with modern systems and a detached two-car garage.
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: Three units, fully rented with professional management; Main house: three bedrooms and two baths with refinished hardwood floors; Private mother‑in‑law suite plus separate barndominium with its own entrance
