Four-Unit Brick
For Sale
$585,000
815 Pleasant Street, Springdale, AR 72764
Residential, Springdale, AR
Property Size3,660 SF
Lot Size0.33 Acres
Price / SF$159.84
Days on Market141
Property Features for 815 Pleasant Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Window features
Blinds
Interior features
CeilingFans, EatInKitchen, WindowTreatments
Exterior features
ConcreteDriveway, GravelDriveway
Appliances
Dishwasher, ElectricRange, ElectricWaterHeater, Microwave, RangeHood, PlumbedForIceMaker
Subdivision
County Court
Lot features
Sloped
Directions
From Highway 71, go West on Backus, South on Pleasant, property on East side.
Standard status
Active
APN
815-27995-000
Size
3,660 SF
Lot size
0.33 Acres
Taxes and HOA fees
Tax Description
PT LOT 9 E1/2 NE .33 A. FURTHER DESCRIBED FROM 2012-22849 AS: PART OF THE EAST HALF OF THE NORTHEAST QUARTER OF SECTION 35, TOWNSHIP 18 NORTH, RANGE 30 WEST, MORE PARTICULARLY DESCRIBED AS FOLLOWS, TO-WIT: BEGINNING AT A POINT 1307.28 FEET NORTH OF T HE S
Tax Annual Amount
4066
Legal Description
PT LOT 9 E1/2 NE .33 A. FURTHER DESCRIBED FROM 2012-22849 AS: PART OF THE EAST HALF OF THE NORTHEAST QUARTER OF SECTION 35, TOWNSHIP 18 NORTH, RANGE 30 WEST, MORE PARTICULARLY DESCRIBED AS FOLLOWS, TO-WIT: BEGINNING AT A POINT 1307.28 FEET NORTH OF T HE S
Utilities
Heating system
Natural Gas
Cooling system
Central Air, Window Unit(s)
Building Details
Year built
1980
Floors in Building
2
Number of units
4
Flooring type
Vinyl, Tile
Building materials
Brick
Roof type
Shingle
Listing Agency:
Lindsey & Assoc Inc Branch
(479) 636-2200
Listed By:
Lucirene Pinto · License #SA00089256
(616) 780-3565
Added: Apr 28
Changed: Sep 13
Last Checked: Sep 15 at 1:06AM
MLS# 1344605
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 1980, this four-unit multifamily property contains 3,660 square feet on a 0.33-acre parcel. The brick structure includes varied residential layouts, tile and vinyl flooring, ceiling fans, window treatments, and eat-in kitchens. Appliance packages include dishwashers, electric ranges, microwaves, range hoods, electric water heaters, and ice-maker connections. Heating is provided by natural gas, with both central air and window units for cooling.
The property is located at 815 Pleasant Street in Springdale, Arkansas, near major employers, shopping, and dining. I-49 is accessible from the property, supporting connections throughout the surrounding area. Exterior features include concrete and gravel driveways, while a shingle roof completes the building.
The property is located at 815 Pleasant Street in Springdale, Arkansas, near major employers, shopping, and dining. I-49 is accessible from the property, supporting connections throughout the surrounding area. Exterior features include concrete and gravel driveways, while a shingle roof completes the building.
Key Highlights
- Four residential units totaling 3,660 square feet
- 0.33‑acre parcel with concrete and gravel driveways
- Brick construction completed in 1980
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
$32,937
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
5.63%
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%
$658,740
$658.7K
Cap Rate 7%
$470,529
$470.5K
Cap Rate 9%
$365,967
$366.0K
Market Conditions
NOI Build-Up for 3,660 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
$50.5K $13.80/SF
− Vacancy
−$3.5K −$0.94/SF
EGI
$47.1K $12.86/SF
− OpEx
−$14.1K −$3.86/SF
NOI
$32.9K $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%
$658,740
Cap Rate 7%
$470,529
Cap Rate 9%
$365,967
Alternative Uses
Best Use
Multifamily LT 5
$470.5K
$411.7K – $549.0K
NOI $32,937 @ 7.0% cap · market cap 5.63%
Second Best
Apartment 5plus
$416.3K
$364.3K – $485.7K
NOI $29,142 @ 7.0% cap · market cap 4.98%
Theoretical Best
Office A
$982.4K
$859.6K – $1.15M
NOI $68,768 @ 7.0% cap · market cap 11.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
470
Businesses Nearby
Explore this area
Business Placement
Demographics for 72764, AR
60,786
Population
20,781
Households
2.9
Avg Household Size
30
Median Age
20%
College-Educated
72%
High-School Grad
66.2 sq mi
ZIP Area
918
Density / Sq Mi
$61,569
Median Household Income
$34,552
Median Earnings
$984
Median Rent
$226,100
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units provide varied floor plan configurations in a low-maintenance multifamily property.
Where is this quadplex located?
The property is located at 815 Pleasant Street Springdale, AR.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: Four residential units totaling 3,660 square feet; 0.33‑acre parcel with concrete and gravel driveways; Brick construction completed in 1980
