Duplex Patio House with Covered
For Sale
$219,000
600 Greenwood Drive, Searcy, AR 72143
CONDOS - Searcy, AR
Property Size1,330 SF
Lot Size0.13 Acres
Price / SF$164.66
Days on Market222
Property Features for 600 Greenwood Drive
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 1, Bedroom 2, Den, Bathroom 2, Laundry Room
Parking features
Garage, Open
Patio and Porch features
Porch, Patio
Interior features
Washer Connection, Washer-Stays, Dryer Connection-Electric, Dryer-Stays, Water Heater-Electric, Smoke Detector(s), Walk-In Closet(s), Ceiling Fan(s), Walk-in Shower, Breakfast Bar, Wired for Highspeed Inter
Exterior features
Patio, Porch
Appliances
Built-In Stove, Microwave, Electric Range, Dishwasher, Disposal, Refrigerator-Stays
Subdivision
Fairway Drive
Lot features
Level, Zero Lot Line, Corner Lot, In Subdivision
Directions
From E Race Ave turn right onto Davis Dr Turn Right onto E Moore Ave Turn Left onto Ambrosa Dr Turn Right onto Greenwood Dr condo id on the Left
Standard status
Active
Size
1,330 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
Lot/Block: 025/
Tax Annual Amount
922
Legal Description
Lot/Block: 025/
Amenities
covered patio
Building Details
Year built
2012
Floors in Building
1
Flooring type
Vinyl, Tile
Roof type
Composition
Architectural style
Bungalow
Listing Agency:
IRealty Arkansas - LR
(501) 451-7653
Listed By:
Christy Matthews
(501) 690-5220
Added: Jan 2
Changed: Aug 12
Last Checked: Aug 12 at 6:06PM
MLS# 26000299
Copyright © 2026 Cooperative Arkansas Realtors Multiple Listing Service. 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.
Two-owner duplex patio house featuring an open-concept design with soaring ceilings. The interior offers a two-bedroom, two-bath split floor plan, including a primary suite with a spacious walk-in closet and a walk-in shower. Additional interior details include a breakfast bar and walk-in closet(s), along with washer and dryer connections (electric), an electric water heater, and smoke detector(s).
Built in 2012, the home sits on a corner lot with exterior features that include a patio and porch. Parking is provided by a garage with an extra parking pad, plus a covered patio for outdoor relaxing. Interior finishes include tile and vinyl flooring, and the roof is composition.
Additional conveniences include a set of appliances such as a built-in stove, microwave, electric range, dishwasher, disposal, and refrigerator. Rooms include a den, laundry room, and two bathrooms.
Built in 2012, the home sits on a corner lot with exterior features that include a patio and porch. Parking is provided by a garage with an extra parking pad, plus a covered patio for outdoor relaxing. Interior finishes include tile and vinyl flooring, and the roof is composition.
Additional conveniences include a set of appliances such as a built-in stove, microwave, electric range, dishwasher, disposal, and refrigerator. Rooms include a den, laundry room, and two bathrooms.
Key Highlights
- Two‑bedroom, two‑bath split floor plan with privacy for owners and guests
- Primary suite includes spacious walk‑in closet and walk‑in shower
- Corner‑lot patio house with patio and porch
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
$7,184
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
3.28%
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%
$143,680
$143.7K
Cap Rate 7%
$102,629
$102.6K
Cap Rate 9%
$79,822
$79.8K
Market Conditions
NOI Build-Up for 1,330 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
$14.0K $10.56/SF
− Vacancy
−$983 −$0.74/SF
EGI
$13.1K $9.82/SF
− OpEx
−$5.9K −$4.42/SF
NOI
$7.2K $5.40/SF
Area
White County, AR
Vacancy
7.00%
Lease Rate
$10.56 /SF/Yr
Expense Ratio
45.00%
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%
$143,680
Cap Rate 7%
$102,629
Cap Rate 9%
$79,822
Alternative Uses
Best Use
Apartment 5plus
$102.6K
$89.8K – $119.7K
NOI $7,184 @ 7.0% cap · market cap 3.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$243.2K
$212.8K – $283.8K
NOI $17,026 @ 7.0% cap · market cap 7.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
664
Businesses Nearby
Explore this area
Business Placement
Demographics for 72143, AR
35,111
Population
14,948
Households
2.3
Avg Household Size
37
Median Age
27%
College-Educated
89%
High-School Grad
302.1 sq mi
ZIP Area
116
Density / Sq Mi
$55,522
Median Household Income
$33,315
Median Earnings
$851
Median Rent
$176,900
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Single family property - Two-bedroom, two-bath patio-style home with split floor plan, walk-in shower, and covered patio with garage and parking pad.
Where is this single family property located?
The property is located at 600 Greenwood Drive Searcy, AR.
What is the asking price?
The asking price for this property is $219,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bath split floor plan with privacy for owners and guests; Primary suite includes spacious walk‑in closet and walk‑in shower; Corner‑lot patio house with patio and porch
