Two-Unit Duplex on Corner
For Sale
$159,000
820 & 822 Pine St, Conway, AR 72032
Occupied residential income property with two units, each offering two bedrooms and one bathroom.
Property Size1,664 SF
Lot Size0.23 Acres
Price / SF$95.55
Days on Market46
Property Features for 820 & 822 Pine St
General Information
Standard status
Active
Size
1,664 SF
Lot size
0.23 Acres
Property subtype
Multi-Family
Occupancy
100%
Property Condition
Severity
Repairs Needed
Evidence
could use some TLC
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1961
Listing Agency:
Moore and Co. Realtors
Listed By:
Brett Bolin · License #SA00093720
(479) 968-3300
Source:
Pcsingtolittlerock
Added: Jul 25
Changed: Sep 5
Last Checked: Sep 8 at 9:47AM
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 Moore and Co. Realtors
Investment Insights
Based on property information with market context.
This duplex contains two approximately 832-square-foot residences within a 1,664-square-foot property. Each unit includes two bedrooms and one bathroom, and both are currently occupied. The building dates to 1961 and is situated on a 0.23-acre corner lot. Updates are needed, offering an opportunity to improve the existing units over time. The roof was replaced in 2023.
The property is located near Hendrix College and downtown Conway, with shopping, dining, and other local amenities in the surrounding area. Its two-unit configuration and existing occupancy provide a straightforward format for residential income ownership, subject to the condition and management of the individual units.
The property is located near Hendrix College and downtown Conway, with shopping, dining, and other local amenities in the surrounding area. Its two-unit configuration and existing occupancy provide a straightforward format for residential income ownership, subject to the condition and management of the individual units.
Key Highlights
- Two‑unit duplex with approximately 1,664 SF total
- Two approximately 832‑square‑foot units
- Each unit has 2 bedrooms and 1 bathroom
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
$11,193
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
7.04%
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%
$223,860
$223.9K
Cap Rate 7%
$159,900
$159.9K
Cap Rate 9%
$124,367
$124.4K
Market Conditions
NOI Build-Up for 1,664 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
$17.0K $10.20/SF
− Vacancy
−$983 −$0.59/SF
EGI
$16.0K $9.61/SF
− OpEx
−$4.8K −$2.88/SF
NOI
$11.2K $6.73/SF
Area
Faulkner County, AR
Vacancy
5.79%
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%
$223,860
Cap Rate 7%
$159,900
Cap Rate 9%
$124,367
Alternative Uses
Best Use
Multifamily LT 5
$159.9K
$139.9K – $186.6K
NOI $11,193 @ 7.0% cap · market cap 7.04%
Second Best
Apartment 5plus
$142.9K
$125.0K – $166.7K
NOI $10,003 @ 7.0% cap · market cap 6.29%
Theoretical Best
Office A
$379.5K
$332.1K – $442.8K
NOI $26,568 @ 7.0% cap · market cap 16.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,494
Businesses Nearby
Explore this area
Business Placement
Demographics for 72032, AR
34,316
Population
14,255
Households
2.4
Avg Household Size
35
Median Age
27%
College-Educated
94%
High-School Grad
114.5 sq mi
ZIP Area
300
Density / Sq Mi
$61,452
Median Household Income
$36,877
Median Earnings
$976
Median Rent
$183,200
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 - Occupied residential income property with two units, each offering two bedrooms and one bathroom.
Where is this duplex located?
The property is located at 820 & 822 Pine St Conway, AR.
What is the asking price?
The asking price for this property is $159,000.
What are key features of this property?
This property features: Two‑unit duplex with approximately 1,664 SF total; Two approximately 832‑square‑foot units; Each unit has 2 bedrooms and 1 bathroom
