Updated Three-Unit Multifamily
For Sale
$256,500
902-906 Dismukes Avenue, Lonoke, AR 72086
Multi-Family, Traditional, Lonoke, AR
Property Size2,259 SF
Price / SF$113.55
Days on Market143
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
Laminate, Concrete, Tile
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: Sep 14
Last Checked: Oct 4 at 6:06PM
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 2,259-square-foot triplex in Lonoke, Arkansas, contains three two-bedroom residences. Two units have one bathroom, while the third has two bathrooms. Interior improvements include new LVP flooring, tile, or stained concrete, along with repainting and replacement countertops completed within the last 2 years. A refrigerator conveys with the property, and each unit includes a patio. The building was constructed in 1984 and has a shingle roof installed in 2021. Two HVAC units were replaced in 2025.
Located at 902-906 Dismukes Avenue, the property currently has two occupied units, with the remaining unit scheduled for rental by the end of May. Additional appliances include free-standing stoves, electric ranges, dishwashers, and disposals. An electric hot water heater is also included.
Located at 902-906 Dismukes Avenue, the property currently has two occupied units, with the remaining unit scheduled for rental by the end of May. Additional appliances include free-standing stoves, electric ranges, dishwashers, and disposals. An electric hot water heater is also included.
Key Highlights
- Three‑unit triplex totaling 2,259 square feet
- Unit mix includes two 2‑bed/1‑bath residences and one 2‑bed/2‑bath residence
- Two of three units are tenant occupied; the third is scheduled for rental by the 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
3
Residential units
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 - Three residential units provide a consistent two-bedroom layout with refreshed finishes and essential appliances.
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: Three‑unit triplex totaling 2,259 square feet; Unit mix includes two 2‑bed/1‑bath residences and one 2‑bed/2‑bath residence; Two of three units are tenant occupied; the third is scheduled for rental by the end of May
