Two-Unit Rental Property
1803&1803A Meadowlake Conway, AR 72032
New
1803&1803A Meadowlake, Conway, AR, 72032
$385,000
For Sale
$385,000
COMMERCIAL - Conway, AR
Property Size2,325 SF
Lot Size1.55 Acres
Price / SF$165.59
Days on Market7
Property Features for 1803&1803A Meadowlake
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Parking
- 5
- Standard status
- Active
- Size
- 2,325 SF
- Lot size
- 1.55 Acres
Taxes and HOA fees
- Tax Description
- see deed
- Tax Annual Amount
- 2363
Building Details
- Year built
- 1971
- Floors in Building
- 1
Listing Agency
Arkansas Real Estate Collective, Conway Branch
(501) 499-2097
3200 W Tyler St., Suite B, Russellville, AR
Listed by
Stefanie Schrekenhofer
(501) 428-3120
Added: Jul 11 Checked: Jul 17 at 8:06 pm
MLS# 26028068
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 residential income property features two existing rental units located at 1803 & 1803A Meadowlake in Conway, AR 72032. The offering includes 1.55 acres of land and approximately 2,325 square feet of total building area, providing current rental income alongside additional space for future development.
The seller notes that the property may be suitable for new multi-family construction such as duplexes or an apartment complex, and advises prospective buyers to call for information provided by the city regarding development.
For those seeking an income-producing asset with on-site land, this parcel offers a straightforward combination of two rentals and substantial acreage for planning next steps.
The seller notes that the property may be suitable for new multi-family construction such as duplexes or an apartment complex, and advises prospective buyers to call for information provided by the city regarding development.
For those seeking an income-producing asset with on-site land, this parcel offers a straightforward combination of two rentals and substantial acreage for planning next steps.
Key Highlights
- 1.55‑acre lot with two rental properties
- Year built: 1971
- Land includes potential for multi‑family development, with information available from the city for development
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $23.7k | $10.20 |
| − Vacancy | −$1.4k | −$0.59 |
| EGI | $22.3k | $9.61 |
| − OpEx | −$6.7k | −$2.88 |
| NOI | $15.6k | $6.73 |
2,325 SF · lease $10.20/SF/yr · vacancy 5.79% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$223.4K
$195.5K – $260.7K
NOI $15,639 @ 7.0% cap · market cap 4.06%
Second Best
Apartment 5plus
$199.7K
$174.7K – $233.0K
NOI $13,977 @ 7.0% cap · market cap 3.63%
Theoretical Best
Office A
$530.3K
$464.0K – $618.7K
NOI $37,122 @ 7.0% cap · market cap 9.64%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two rental units sit on 1.55 acres at 1803 & 1803A Meadowlake in Conway, AR, with space for potential development.
Where is this duplex located?
The property is located at 1803&1803A Meadowlake Conway, AR.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: 1.55‑acre lot with two rental properties; Year built: 1971; Land includes potential for multi‑family development, with information available from the city for development
