Two-Unit Duplex with
New
For Sale
$445,000
662 N Meadowlands Drive, Fayetteville, AR 72704
MULTI_FAMILY - Fayetteville, AR
Property Size2,448 SF
Lot Size0.31 Acres
Price / SF$181.78
Days on Market2
Property Features for 662 N Meadowlands Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
4
Full bathrooms
2
Half bathrooms
2
Rooms
Bedroom 3, Bathroom 3, Bedroom 2, Bathroom 4, Bathroom 1, Bedroom 4, Bedroom 1, Bathroom 2
Parking features
Garage, Open
Patio and Porch features
Patio
Exterior features
ConcreteDriveway
Appliances
Dryer, Dishwasher, ElectricRange, GasWaterHeater, Microwave, Refrigerator, Washer
Subdivision
Meadowlands I & II
Lot features
Corner Lot, City Lot, Landscaped, Level, Subdivision
Elementary school district
Fayetteville
Middle school district
Fayetteville
High school district
Fayetteville
Directions
From I-49: Take Exit 64 and head WEST on W. Wedington DR/AR-16. Turn LEFT onto N. Rupple RD. Turn RIGHT onto N. Meadowlands DR. One unit of Duplex is 662 N. Meadowlands DR AND other unit is 702 N. Daisy LN.
Standard status
Active
APN
765-19732-000
Size
2,448 SF
Lot size
0.31 Acres
Taxes and HOA fees
Tax Description
Lot 75, Block - ; MEADOWLANDS I & II Subdivision
Tax Annual Amount
2903
HOA Fee
$105 Annually
Legal Description
Lot 75, Block - ; MEADOWLANDS I & II Subdivision
Utilities
Heating system
Central, Natural Gas
Cooling system
Central Air
Building Details
Year built
1996
Floors in Building
2
Number of units
2
Flooring type
Carpet, Simulatedwood, Laminate
Building materials
Brick, VinylSiding
Roof type
Shingle
Listing Agency:
Keller Williams Market Pro Realty · Keller Williams Realty
(479) 718-2800
Listed By:
Heather McDonnell Hastings · License #SA00086272
(479) 409-1045
Added: Aug 13
Changed: Aug 14
Last Checked: Aug 14 at 6:06AM
MLS# 1358326
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.
Built in 1996, this duplex contains 2,448 square feet across two residences, with each side configured with two bedrooms and one-and-a-half bathrooms. Brick and vinyl siding, shingle roofing, central heating and cooling, and natural gas service support the property’s core improvements. Both units include refrigerators, washers, and dryers, while patios and a combination of open parking and garage space add practical functionality.
The property occupies 0.3102 acres in Fayetteville, with access to grocery stores, restaurants, and everyday services along Wedington DR. The University of Arkansas and Downtown Fayetteville are a short drive away, while nearby walking and biking trails provide outdoor access. Interstate 49 is also readily accessible for regional commuting.
The property occupies 0.3102 acres in Fayetteville, with access to grocery stores, restaurants, and everyday services along Wedington DR. The University of Arkansas and Downtown Fayetteville are a short drive away, while nearby walking and biking trails provide outdoor access. Interstate 49 is also readily accessible for regional commuting.
Key Highlights
- 2,448 square feet across two duplex residences
- Each side has 2 bedrooms and 1.5 bathrooms
- 0.3102 acres in Fayetteville
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
$22,030
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
4.95%
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%
$440,600
$440.6K
Cap Rate 7%
$314,714
$314.7K
Cap Rate 9%
$244,778
$244.8K
Market Conditions
NOI Build-Up for 2,448 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
$33.8K $13.80/SF
− Vacancy
−$2.3K −$0.94/SF
EGI
$31.5K $12.86/SF
− OpEx
−$9.4K −$3.86/SF
NOI
$22.0K $9.00/SF
Area
Washington County, AR
Vacancy
6.84%
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%
$440,600
Cap Rate 7%
$314,714
Cap Rate 9%
$244,778
Alternative Uses
Best Use
Multifamily LT 5
$314.7K
$275.4K – $367.2K
NOI $22,030 @ 7.0% cap · market cap 4.95%
Second Best
Apartment 5plus
$278.5K
$243.7K – $324.9K
NOI $19,492 @ 7.0% cap · market cap 4.38%
Theoretical Best
Office A
$657.1K
$575.0K – $766.6K
NOI $45,996 @ 7.0% cap · market cap 10.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
265
Businesses Nearby
Explore this area
Business Placement
Demographics for 72704, AR
31,145
Population
14,098
Households
2.2
Avg Household Size
31
Median Age
55%
College-Educated
96%
High-School Grad
77.0 sq mi
ZIP Area
404
Density / Sq Mi
$88,991
Median Household Income
$51,341
Median Earnings
$1,163
Median Rent
$301,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-bedroom residences offer one-and-a-half baths, patios, and included laundry appliances.
Where is this duplex located?
The property is located at 662 N Meadowlands Drive Fayetteville, AR.
What is the asking price?
The asking price for this property is $445,000.
What are key features of this property?
This property features: 2,448 square feet across two duplex residences; Each side has 2 bedrooms and 1.5 bathrooms; 0.3102 acres in Fayetteville
