Three-Unit Residential Income
700 W Monroe, Jonesboro, AR 72401
For Sale
$429,900
Multi-Family, Traditional, Jonesboro, AR
Property Size4,484 SF
Lot Size0.39 Acres
Price / SF$95.87
Days on Market62
Property Features for 700 W Monroe
General Information
Property type
Property subtype
Parking features
Interior features
Appliances
Subdivision
Lot features
Elementary school
Middle school
High school
Directions
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Individually Metered Utilities
Taxes and HOA fees
Tax Description
Legal Description
Building Details
Floors in Building
Number of units
Flooring type
Roof type
Architectural style
Listing Agency:
Coldwell Banker Village Communities
(870) 935-7800
Listed By:
Kevin Kercheval · License #PB00056142
(870) 926-3225
Added: Sep 9
Changed: Oct 27
Last Checked: Nov 9 at 5:06AM
MLS# 26037140
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.
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Investment Insights
Based on property information with market context.
This 4,484-square-foot triplex contains three residential units, each with three bedrooms and two bathrooms. The units are described as spacious, with vinyl flooring, ceiling fans, washer connections, dishwashers, and refrigerators included. The property has a composition roof and offers both open parking and garage parking.
Each residence is separately metered, and tenants pay their own utilities. All three units are fully leased. The property occupies 0.39 acres at 700 W Monroe in Jonesboro, Arkansas, within ZIP Code 72401.
Each residence is separately metered, and tenants pay their own utilities. All three units are fully leased. The property occupies 0.39 acres at 700 W Monroe in Jonesboro, Arkansas, within ZIP Code 72401.
Key Highlights
- Three units, each with three bedrooms and two bathrooms
- 4,484 square feet on 0.39 acres
- All three units are fully leased
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,615
Cap Rate
6.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$592,300
$592.3K
Cap Rate 7%
$423,071
$423.1K
Cap Rate 9%
$329,056
$329.1K
Market Conditions
NOI Build-Up for 4,484 SF
Gross rent
$45.7K $10.20/SF
− Vacancy
−$3.4K −$0.77/SF
EGI
$42.3K $9.44/SF
− OpEx
−$12.7K −$2.83/SF
NOI
$29.6K $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 Rate 5%
$592,300
Cap Rate 7%
$423,071
Cap Rate 9%
$329,056
Alternative Uses
Best Use
Multifamily LT 5
$423.1K
$370.2K – $493.6K
NOI $29,615 @ 7.0% cap · market cap 6.89%
Second Best
Apartment 5plus
$384.3K
$336.2K – $448.3K
NOI $26,898 @ 7.0% cap · market cap 6.26%
Theoretical Best
Office A
$785.0K
$686.9K – $915.9K
NOI $54,952 @ 7.0% cap · market cap 12.78%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,459
Businesses Nearby
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Business Placement
Demographics for 72401, AR
43,127
Population
19,328
Households
2.2
Avg Household Size
33
Median Age
23%
College-Educated
89%
High-School Grad
88.5 sq mi
ZIP Area
487
Density / Sq Mi
$43,412
Median Household Income
$32,970
Median Earnings
$897
Median Rent
$185,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Fully leased triplex with spacious three-bedroom units, separate utility metering, and a mix of open and garage parking.
Where is this triplex located?
The property is located at 700 W Monroe Jonesboro, 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, each with three bedrooms and two bathrooms; 4,484 square feet on 0.39 acres; All three units are fully leased
