11-Unit Multifamily
New
For Sale
$775,000
898 W Myrtle St, Cabot, AR 72023
Ten residences are occupied, while one unit requires rehabilitation.
Property Size7,000 SF
Price / SF$110.71
Days on Market3
Property Features for 898 W Myrtle St
General Information
Standard status
Active
Size
7,000 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
11
Building Details
Year Built
1997
Buildings
4
Listing Agency:
Meyers Realty Company
Listed By:
Amber Wood
(501) 444-2055
Source:
Midsouthar
Added: Oct 19
Changed: Oct 21
Last Checked: Oct 20 at 9:06PM
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 Meyers Realty Company
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Investment Insights
Based on property information with market context.
The 7,000-square-foot multifamily property in Cabot, Arkansas, comprises three triplexes and one duplex, totaling 11 units. Ten units are currently rented, and the remaining unit needs rehabilitation before it is rent-ready.
Key Highlights
- 11 units across three triplexes and one duplex
- 7,000 square feet of multifamily property
- 10 units rented; 1 unit requires rehabilitation
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,577
Cap Rate
7.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,131,540
$1.1M
Cap Rate 7%
$808,243
$808.2K
Cap Rate 9%
$628,633
$628.6K
Market Conditions
NOI Build-Up for 7,000 SF
Gross rent
$109.2K $15.60/SF
− Vacancy
−$6.3K −$0.90/SF
EGI
$102.9K $14.70/SF
− OpEx
−$46.3K −$6.61/SF
NOI
$56.6K $8.08/SF
Area
Lonoke County, AR
Vacancy
5.80%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,131,540
Cap Rate 7%
$808,243
Cap Rate 9%
$628,633
Alternative Uses
Best Use
Apartment 5plus
$808.2K
$707.2K – $943.0K
NOI $56,577 @ 7.0% cap · market cap 7.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.43M
$1.25M – $1.66M
NOI $99,767 @ 7.0% cap · market cap 12.87%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
11
Residential units
Location Intelligence
Trade Area within ½ mile
712
Businesses Nearby
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Business Placement
Demographics for 72023, AR
37,321
Population
14,901
Households
2.5
Avg Household Size
38
Median Age
25%
College-Educated
94%
High-School Grad
98.2 sq mi
ZIP Area
380
Density / Sq Mi
$76,157
Median Household Income
$45,363
Median Earnings
$978
Median Rent
$202,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Ten residences are occupied, while one unit requires rehabilitation.
Where is this multifamily property located?
The property is located at 898 W Myrtle St Cabot, AR.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: 11 units across three triplexes and one duplex; 7,000 square feet of multifamily property; 10 units rented; 1 unit requires rehabilitation
