Remodeled Duplex with Rental
For Sale
$415,000
7423 Terry Street #7421 & 7423, Fort Smith, AR 72916
Two updated units offer equipped kitchens, in-unit laundry, and flexible occupancy options.
Property Size2,500 SF
Days on Market12
Property Features for 7423 Terry Street #7421 & 7423
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Duplex
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Amenities
in-unit washer and dryer
fully equipped kitchens
pet-friendly accommodations
Building Details
Building Size
2,500 SF
Listing Agency:
The Heritage Group Real Estate - Barling
(479) 312-7876
Listed By:
Chris Hacker · License #SA00094417
Source:
Wisebaker.kw
Added: Aug 21
Changed: Aug 28
Last Checked: Aug 31 at 12:34PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of The Heritage Group Real Estate - Barling
Investment Insights
Based on property information with market context.
This duplex includes two residential units, each with 3 bedrooms and 2 bathrooms. Both units feature fully equipped kitchens and in-unit washer and dryer connections. Recent remodeling added updated interior finishes, and pet-friendly accommodations are available.
One unit is furnished and operating as a short-term rental, while the other is vacant. The current configuration allows for owner occupancy or immediate leasing of the available unit. Located on Terry Street near I-49 and Chaffee Crossing, the property also offers access to shopping, dining, Arkansas College of Osteopathic Medicine, and employers within the surrounding development.
One unit is furnished and operating as a short-term rental, while the other is vacant. The current configuration allows for owner occupancy or immediate leasing of the available unit. Located on Terry Street near I-49 and Chaffee Crossing, the property also offers access to shopping, dining, Arkansas College of Osteopathic Medicine, and employers within the surrounding development.
Key Highlights
- Two‑unit duplex with 3 bedrooms and 2 bathrooms in each unit
- Recently remodeled interiors with updated finishes
- One furnished unit currently operating as a short‑term rental
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
$16,579
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
3.99%
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%
$331,580
$331.6K
Cap Rate 7%
$236,843
$236.8K
Cap Rate 9%
$184,211
$184.2K
Market Conditions
NOI Build-Up for 2,500 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
$25.5K $10.20/SF
− Vacancy
−$1.8K −$0.73/SF
EGI
$23.7K $9.47/SF
− OpEx
−$7.1K −$2.84/SF
NOI
$16.6K $6.63/SF
Area
Sebastian County, AR
Vacancy
7.12%
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%
$331,580
Cap Rate 7%
$236,843
Cap Rate 9%
$184,211
Alternative Uses
Best Use
Multifamily LT 5
$236.8K
$207.2K – $276.3K
NOI $16,579 @ 7.0% cap · market cap 3.99%
Second Best
Apartment 5plus
$211.5K
$185.1K – $246.8K
NOI $14,805 @ 7.0% cap · market cap 3.57%
Theoretical Best
Healthcare Medical
$531.9K
$465.4K – $620.6K
NOI $37,233 @ 7.0% cap · market cap 8.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2
Businesses Nearby
Explore this area
Business Placement
Demographics for 72916, AR
10,250
Population
4,720
Households
2.2
Avg Household Size
41
Median Age
45%
College-Educated
92%
High-School Grad
37.7 sq mi
ZIP Area
272
Density / Sq Mi
$88,125
Median Household Income
$51,444
Median Earnings
$1,212
Median Rent
$257,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two updated units offer equipped kitchens, in-unit laundry, and flexible occupancy options.
Where is this duplex located?
The property is located at 7423 Terry Street #7421 & 7423 Fort Smith, AR.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: Two‑unit duplex with 3 bedrooms and 2 bathrooms in each unit; Recently remodeled interiors with updated finishes; One furnished unit currently operating as a short‑term rental
