Triplex with Updated
For Sale
$256,500
902-906 Dismukes Avenue, Lonoke, AR 72086
MULTI_FAMILY - Lonoke, AR
Property Size2,259 SF
Price / SF$113.55
Days on Market98
Property Features for 902-906 Dismukes Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Patio and Porch features
Patio
Interior features
Hot Water Heater-Electric
Exterior features
Patio
Appliances
Free-Standing Stove, Electric Range, Dishwasher, Disposal, Refrigerator-Stays, Free-Standing Stove, Electric Range, Dishwasher, Disposal, Refrigerator-Stays
Subdivision
Lonoke City Area
Lot features
Level
Directions
From I-40 take exit 175 toward Lonoke. Turn North onto N Center St/Hwy31. Continue 1.5 Miles then turn left onto W 9th St. Go a few blocks and turn right onto Dismukes Ave. You will see the sign in front of the home.
Standard status
Active
Size
2,259 SF
Taxes and HOA fees
Tax Description
781-90301-001
Tax Annual Amount
1131
Legal Description
781-90301-001
Building Details
Year built
1984
Floors in Building
1
Number of units
3
Flooring type
Concrete, Tile, Laminate
Roof type
Shingle
Architectural style
Other
Listing Agency:
Venture Realty Group - Cabot
(501) 259-8437
Listed By:
Shane Wallis
(501) 454-4628
Added: May 15
Changed: Aug 3
Last Checked: Aug 20 at 7:06PM
MLS# 26019767
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 triplex at 902-906 Dismukes Avenue was built in 1984 and features updated interiors across all three units. The unit mix includes two 2 bed, 1 bath units and one 2 bed, 2 bath unit. Flooring is updated with new LVP flooring, tile, or stained concrete, and each unit has been repainted with new counter tops within the last 2 years. Appliances include a refrigerator that stays with the property, and the interior also lists an electric hot water heater. A patio is included as an exterior feature.
The exterior improvements include a new shingle roof installed in 2021 and two new HVAC units as of 2025. Per the current setup, 2 of the 3 units are tenant occupied, and the remaining unit is scheduled to be rented by the end of May.
Overall, the combination of unit configuration and recent system and interior updates supports straightforward, lower-maintenance operations for an investor or owner-operator seeking steady rental performance.
The exterior improvements include a new shingle roof installed in 2021 and two new HVAC units as of 2025. Per the current setup, 2 of the 3 units are tenant occupied, and the remaining unit is scheduled to be rented by the end of May.
Overall, the combination of unit configuration and recent system and interior updates supports straightforward, lower-maintenance operations for an investor or owner-operator seeking steady rental performance.
Key Highlights
- Triplex built in 1984 at 902‑906 Dismukes Avenue in Lonoke
- Two 2 bed, 1 bath units plus one 2 bed, 2 bath unit
- 2 units tenant occupied; third unit scheduled to be rented by end of May
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
$20,620
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
8.04%
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%
$412,400
$412.4K
Cap Rate 7%
$294,571
$294.6K
Cap Rate 9%
$229,111
$229.1K
Market Conditions
NOI Build-Up for 2,259 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
$31.2K $13.80/SF
− Vacancy
−$1.7K −$0.76/SF
EGI
$29.5K $13.04/SF
− OpEx
−$8.8K −$3.91/SF
NOI
$20.6K $9.13/SF
Area
Lonoke County, AR
Vacancy
5.51%
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%
$412,400
Cap Rate 7%
$294,571
Cap Rate 9%
$229,111
Alternative Uses
Best Use
Multifamily LT 5
$294.6K
$257.8K – $343.7K
NOI $20,620 @ 7.0% cap · market cap 8.04%
Second Best
Apartment 5plus
$260.8K
$228.2K – $304.3K
NOI $18,258 @ 7.0% cap · market cap 7.12%
Theoretical Best
Office A
$459.9K
$402.5K – $536.6K
NOI $32,196 @ 7.0% cap · market cap 12.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
374
Businesses Nearby
Explore this area
Business Placement
Demographics for 72086, AR
10,673
Population
4,983
Households
2.1
Avg Household Size
40
Median Age
12%
College-Educated
84%
High-School Grad
164.1 sq mi
ZIP Area
65
Density / Sq Mi
$59,450
Median Household Income
$41,176
Median Earnings
$945
Median Rent
$151,700
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?
Triplex - Triplex built 1984 with 2 tenant-occupied units and LVP/tile/stained concrete flooring updates.
Where is this triplex located?
The property is located at 902-906 Dismukes Avenue Lonoke, AR.
What is the asking price?
The asking price for this property is $256,500.
What are key features of this property?
This property features: Triplex built in 1984 at 902‑906 Dismukes Avenue in Lonoke; Two 2 bed, 1 bath units plus one 2 bed, 2 bath unit; 2 units tenant occupied; third unit scheduled to be rented by end of May
