Brick Apartment
For Sale
$750,000
908 Warner, Jonesboro, AR 72401
Multi-Family, Jonesboro, AR
Property Size4,193 SF
Price / SF$178.87
Days on Market49
Property Features for 908 Warner
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Bedrooms
21
Rooms
Bedroom 10, Bedroom 16, Bedroom 9, Bedroom 2, Bedroom 6, Bedroom 20, Bedroom 18, Bedroom 5, Bedroom 1, Bedroom 14, Bedroom 21, Bedroom 13, Bedroom 4, Bedroom 7, Bedroom 12, Bedroom 3, Bedroom 19, Bedroom 17, Bedroom 11, Bedroom 8, Bedroom 15
Exterior features
Brick
Elementary school
Jonesboro Magnet
High school
Jonesboro High School
Subdivision
D
Standard status
Active
APN
01-143241-09900
Size
4,193 SF
Taxes and HOA fees
Tax Description
CULBERHOUSE 3RD ADD
Legal Description
CULBERHOUSE 3RD ADD
Building Details
Floors in Building
2
Number of units
11
Listing Agency:
Century 21 Portfolio · Century 21 Real Estate
Listed By:
Chris Collinsworth
(870) 933-0026
Added: Aug 13
Changed: Sep 28
Last Checked: Sep 30 at 1:06PM
MLS# 10131677
Copyright © 2026 Northeast Arkansas Board of Realtors. 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 apartment property contains 11 units within 4,193 square feet and features brick exterior construction with all-electric utilities. Several units are in the early phases of remodeling, creating an active renovation component for a future owner to complete.
The property is situated in Jonesboro’s West End Community. Its utility setup and multifamily configuration support centralized property management, while the ongoing improvements provide a defined scope of work for continued refurbishment. The asset is located in Jonesboro, Arkansas, with access to employment centers, shopping, and local amenities noted in the surrounding area.
The property is situated in Jonesboro’s West End Community. Its utility setup and multifamily configuration support centralized property management, while the ongoing improvements provide a defined scope of work for continued refurbishment. The asset is located in Jonesboro, Arkansas, with access to employment centers, shopping, and local amenities noted in the surrounding area.
Key Highlights
- 11‑unit apartment property
- 4,193 square feet of multifamily space
- All‑electric utility configuration
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
$25,152
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
3.35%
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%
$503,040
$503.0K
Cap Rate 7%
$359,314
$359.3K
Cap Rate 9%
$279,467
$279.5K
Market Conditions
NOI Build-Up for 4,193 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
$48.8K $11.64/SF
− Vacancy
−$3.1K −$0.73/SF
EGI
$45.7K $10.91/SF
− OpEx
−$20.6K −$4.91/SF
NOI
$25.2K $6.00/SF
Area
Craighead County, AR
Vacancy
6.30%
Lease Rate
$11.64 /SF/Yr
Expense Ratio
45.00%
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%
$503,040
Cap Rate 7%
$359,314
Cap Rate 9%
$279,467
Alternative Uses
Best Use
Apartment 5plus
$359.3K
$314.4K – $419.2K
NOI $25,152 @ 7.0% cap · market cap 3.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$734.1K
$642.3K – $856.4K
NOI $51,386 @ 7.0% cap · market cap 6.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
11
Residential units
Location Intelligence
Trade Area within ½ mile
516
Businesses Nearby
Explore this area
Business Placement
Demographics for 72401, AR
43,127
Population
19,328
Households
2.2
Avg Household Size
33
Median Age
23%
College-Educated
89%
High-School Grad
88.5 sq mi
ZIP Area
487
Density / Sq Mi
$43,412
Median Household Income
$32,970
Median Earnings
$897
Median Rent
$185,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - All-electric multifamily property with multiple units undergoing renovation in Jonesboro’s West End Community.
Where is this apartment building located?
The property is located at 908 Warner Jonesboro, AR.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 11‑unit apartment property; 4,193 square feet of multifamily space; All‑electric utility configuration
