Tenant-Occupied
New
For Sale
$145,000
605-607 Alfred Watkins St, Jonesboro, AR 72405
Multi-Family, Ranch, Jonesboro, AR
Property Size1,734 SF
Lot Size0.32 Acres
Price / SF$83.62
Days on Market2
Property Features for 605-607 Alfred Watkins St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 4, Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 2
Parking features
Carport
Interior features
Washer Connection, Dryer Connection-Electric, Hot Water Heater-Electric
Appliances
Built-In Stove, Built-In Stove
Subdivision
Watkins
Lot features
Level, Cleared, In Subdivision
Elementary school
JONESBORO
Middle school
JONESBORO
High school
JONESBORO
Directions
Starting on Belt St, R onto Alfred Watkins, property on your L.
Standard status
Active
APN
01-144083-14500
Size
1,734 SF
Lot size
0.32 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
Lot 2 Watkins 2nd Add
Tax Annual Amount
1034
Legal Description
Lot 2 Watkins 2nd Add
Building Details
Floors in Building
1
Number of units
2
Flooring type
Vinyl
Roof type
Composition
Architectural style
Ranch
Listing Agency:
Compass Rose Realty
(870) 336-1008
Listed By:
Kyah Mancil
(901) 371-1617
Added: Sep 9
Last Checked: Sep 10 at 11:06PM
MLS# 26036881
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.
This ranch-style duplex at 605-607 Alfred Watkins St in Jonesboro contains two 2-bedroom, 1-bath units totaling 1,734 square feet. Both residences are tenant-occupied and feature vinyl flooring, electric water heaters, washer and dryer connections, built-in stoves, and composition roofs. Carport parking is included, and the property sits on a 0.32-acre lot.
Tenants pay all utilities except water, providing a defined utility arrangement for ownership and management. The property is located in Jonesboro, Craighead County, within ZIP Code 72405.
Tenants pay all utilities except water, providing a defined utility arrangement for ownership and management. The property is located in Jonesboro, Craighead County, within ZIP Code 72405.
Key Highlights
- Two 2‑bedroom, 1‑bath units
- 1,734 square feet across both units
- Both units are tenant‑occupied
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
$11,452
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
7.90%
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%
$229,040
$229.0K
Cap Rate 7%
$163,600
$163.6K
Cap Rate 9%
$127,244
$127.2K
Market Conditions
NOI Build-Up for 1,734 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
$17.7K $10.20/SF
− Vacancy
−$1.3K −$0.77/SF
EGI
$16.4K $9.44/SF
− OpEx
−$4.9K −$2.83/SF
NOI
$11.5K $6.60/SF
Area
Craighead County, AR
Vacancy
7.50%
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%
$229,040
Cap Rate 7%
$163,600
Cap Rate 9%
$127,244
Alternative Uses
Best Use
Multifamily LT 5
$163.6K
$143.2K – $190.9K
NOI $11,452 @ 7.0% cap · market cap 7.90%
Second Best
Apartment 5plus
$148.6K
$130.0K – $173.4K
NOI $10,402 @ 7.0% cap · market cap 7.17%
Theoretical Best
Office A
$303.6K
$265.6K – $354.2K
NOI $21,250 @ 7.0% cap · market cap 14.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
236
Businesses Nearby
Explore this area
Business Placement
Demographics for 72405, AR
17,109
Population
7,049
Households
2.4
Avg Household Size
33
Median Age
39%
College-Educated
91%
High-School Grad
35.9 sq mi
ZIP Area
477
Density / Sq Mi
$84,722
Median Household Income
$42,329
Median Earnings
$1,009
Median Rent
$240,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Ranch-style property with two-bedroom, one-bath residences and tenant occupancy.
Where is this duplex located?
The property is located at 605-607 Alfred Watkins St Jonesboro, AR.
What is the asking price?
The asking price for this property is $145,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bath units; 1,734 square feet across both units; Both units are tenant‑occupied
