Two-Unit Duplex with Updated
For Sale
$159,000
820 & 822 Pine Street, Conway, AR 72032
Multi-Family, Townhouse, Conway, AR
Property Size1,664 SF
Lot Size0.23 Acres
Price / SF$95.55
Days on Market76
Property Features for 820 & 822 Pine Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 4, Bedroom 1, Bathroom 2, Bedroom 2, Bedroom 3
Interior features
Washer Connection, Dryer Connection-Electric, Hot Water Heater-Gas, Hot Water Heater-Electric
Appliances
Gas Range, Gas Range
Subdivision
Burns
Lot features
Level, Corner Lot, In Subdivision
Directions
From the Oak St / Harkrider intersection in downtown Conway: Head North up Harkrider St for 0.4 miles, turn right onto Pine St, duplex will be on your left in approx. 370 feet.
Standard status
Active
APN
710-01606-000, 710-01604-001
Size
1,664 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Description
LOT 6 BLK 10 BURNS ADDN W 100
Tax Annual Amount
1699
Legal Description
LOT 6 BLK 10 BURNS ADDN W 100
Building Details
Year built
1961
Floors in Building
1
Number of units
2
Flooring type
Vinyl
Roof type
Shingle
Architectural style
Other
Listing Agency:
Moore and Co. Realtors
(479) 968-3300
Listed By:
Brett Bolin · License #SA00093720
(479) 857-4078
Added: Jul 21
Changed: Sep 20
Last Checked: Oct 4 at 10:06PM
MLS# 26029529
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 duplex contains 1,664 square feet across two approximately 832-square-foot residences. Each unit has two bedrooms and one bathroom, with vinyl flooring and gas or electric hot water service. The property also includes gas ranges and washer and dryer connections. Both residences are currently occupied and may benefit from future updates. The shingle roof was replaced in 2023.
The building sits on a 0.23-acre corner lot at 820 & 822 Pine Street in Conway, Arkansas. Hendrix College and downtown Conway are nearby, along with shopping, dining, and other local amenities. Built in 1961, the property provides a two-unit configuration with existing occupancy and established residential improvements.
The building sits on a 0.23-acre corner lot at 820 & 822 Pine Street in Conway, Arkansas. Hendrix College and downtown Conway are nearby, along with shopping, dining, and other local amenities. Built in 1961, the property provides a two-unit configuration with existing occupancy and established residential improvements.
Key Highlights
- Two‑unit duplex totaling 1,664 square feet
- Two approximately 832‑square‑foot units, each with 2 bedrooms and 1 bathroom
- Both units are currently occupied
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
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Both occupied residences offer two bedrooms, one bathroom, and washer and dryer connections.
Where is this duplex located?
The property is located at 820 & 822 Pine Street 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 totaling 1,664 square feet; Two approximately 832‑square‑foot units, each with 2 bedrooms and 1 bathroom; Both units are currently occupied
