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    124 College St Mountain Home, AR 72653
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    Property profile & analytics

    124 College St Mountain Home, AR 72653

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    • Commercial real estate
    • 2.85 lot acres
    Off-Market
    Property ID
    US05-1551947
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • College Manor Apartments / Apartment Complex

    Property Details for 124 College St

    Year built
    1985
    Lot size
    2.85 lot acres
    Property type
    Commercial real estate

    Description

    College Manor Apartments, located at 124 S College St, Mountain Home, AR 72653, presents a compelling investment opportunity. This 33-unit apartment complex, situated on a 2.85-acre lot, offers a mix of unit sizes: seven 1-bedroom/1-bathroom, ten 2-bedroom/1-bathroom, and sixteen 2-bedroom/2-bathroom units, averaging 775 square feet. Originally built in 1985 with 16 units, the property underwent significant renovations in 2022, adding 17 new units, including a 560-square-foot office suite. The property currently generates a Net Operating Income (NOI) of $273,944 annually. Market analysis indicates potential for substantial NOI growth through rent increases. Without renovations to the original units, rents could increase by $200 per unit ($0.46/sq ft). Renovating the original 16 units to match the 2022 additions could yield a $400 per unit increase ($0.92/sq ft). Further revenue enhancement is possible through implementing RUBS for water and charging for trash removal. Pro forma financials were prepared using a 7% management fee. The property's location in Mountain Home, a growing community in the Ozark Mountains, benefits from a stable economy driven by healthcare (Baxter Regional Medical Center), education (Arkansas State University-Mountain Home), and tourism. The city's convenient location at the intersection of US Highways 62 and 412, along with its municipal airport, enhances accessibility. The strong demand for multifamily housing in Mountain Home, coupled with the property's proven renovation concept, positions College Manor Apartments for enhanced returns. This value-add asset offers investors a chance to capitalize on the area's growth and stable rental market. Nine buildings comprise the complex.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Mountain Home
    County
    Baxter
    State
    Arkansas
    Longitude
    -92.380668906838
    Latitude
    36.339189546655

    Comparable in this City

    • $2,300,000
      0.58 Acres

      Renovated Mountain Home Apartments

      Turn-key, fully renovated 22-unit apartment complex in Mountain Home, AR.
      411 S Main St, Mountain Home, AR 72653
      View Details
    • $2,300,000
      7,983 SF

      Renovated Multifamily Investment Opportunity

      Turnkey, fully renovated 22-unit apartment complex in Mountain Home, AR.
      411 S Main St, Mountain Home, AR 72653
      View Details
    • $244,900
      2,034 SF

      Mountain Home Duplex Investment Opportunity

      Well-maintained duplex in Mountain Home, currently generating income.
      235 A&B Hillcrest Rd, Mountain Home, AR 72653
      View Details
    • New
      $285,000
      2,302 SF

      Mountain Home Investment Property

      Four rental units on 5.63 acres in Mountain Home.
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    • $425,000
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      Two Homes on 7 Acres

      Two homes on nearly 7 acres, ideal for multi-generational living.
      485 County Road 176, Mountain Home, AR 72653
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    • $749,900
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      Parkway Acres Mobile Home Park

      Income-producing mobile home park near Ozark recreational destinations.
      409 County Road 916, Mountain Home, AR 72653
      View Details

    Similar Nearby for Sale

    • $2,300,000
      0.58 Acres

      Renovated Mountain Home Apartments

      Turn-key, fully renovated 22-unit apartment complex in Mountain Home, AR.
      411 S Main St, Mountain Home, AR 72653
      View Details
    • $2,300,000
      7,983 SF

      Renovated Multifamily Investment Opportunity

      Turnkey, fully renovated 22-unit apartment complex in Mountain Home, AR.
      411 S Main St, Mountain Home, AR 72653
      View Details
    • $244,900
      2,034 SF

      Mountain Home Duplex Investment Opportunity

      Well-maintained duplex in Mountain Home, currently generating income.
      235 A&B Hillcrest Rd, Mountain Home, AR 72653
      View Details
    • New
      $285,000
      2,302 SF

      Mountain Home Investment Property

      Four rental units on 5.63 acres in Mountain Home.
      80 Apple Blossom Cir, Mountain Home, AR 72653
      View Details
    • $425,000
      4,070 SF

      Two Homes on 7 Acres

      Two homes on nearly 7 acres, ideal for multi-generational living.
      485 County Road 176, Mountain Home, AR 72653
      View Details
    • $749,900
      15,000 SF

      Parkway Acres Mobile Home Park

      Income-producing mobile home park near Ozark recreational destinations.
      409 County Road 916, Mountain Home, AR 72653
      View Details

    Similar Nearby for Lease

    • New
      $3,000 /Mo
      2,000 SF

      Retail Space in Mountain Home

      Retail space available for lease in Mountain Home, Arkansas.
      209 E Wade Ave, Mountain Home, AR 72653
      View Details
    • Contact for pricing

      Retail Space For Lease

      Retail space available for lease.
      1012 Highway 62 E, Mountain Home, AR 72653
      View Details
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    Mountain Home, AR 72653
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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