Three-Unit Residential Income
For Sale
$429,900
700 W Monroe, Jonesboro, AR 72401
Multi-Family, Traditional, Jonesboro, AR
Property Size4,484 SF
Lot Size0.39 Acres
Price / SF$95.87
Days on Market16
Property Features for 700 W Monroe
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Parking features
Open, Garage
Interior features
Washer Connection, Fan - Ceiling
Appliances
Dishwasher, Refrigerator-Stays, Dishwasher, Refrigerator-Stays
Subdivision
Nisbetts
Lot features
Level, Extra Landscaping
Elementary school
JONESBORO
Middle school
JONESBORO
High school
JONESBORO
Directions
S Culberhouse to W Monroe.
Standard status
Active
APN
01-143134-18700
Size
4,484 SF
Lot size
0.39 Acres
Taxes and HOA fees
Tax Description
Lot 1 Block D E Roberts Replat
Legal Description
Lot 1 Block D E Roberts Replat
Building Details
Floors in Building
1
Number of units
3
Flooring type
Vinyl
Roof type
Composition
Architectural style
Other
Listing Agency:
Coldwell Banker Village Communities
(870) 935-7800
Listed By:
Kevin Kercheval · License #PB00056142
(870) 926-3225
Added: Sep 9
Changed: Sep 18
Last Checked: Sep 24 at 2:06PM
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.
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 = 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
$29,615
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
6.89%
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%
$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
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
$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 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%
$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.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,459
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
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
