797 S Cherry Ln Fayetteville, AR 72701
Downtown Fayetteville NeighborhoodEstimated payment $3,824/month
Highlights
- 1.02 Acre Lot
- Partially Fenced Property
- Level Lot
- McNair Middle School Rated A-
About This Lot
This property offers a prime multifamily development opportunity in one of Northwest Arkansas’s fastest-growing markets. Zoned RI-U with no density restrictions, it allows zero-lot-line construction and flexible design. The site is cleared and prepped with a construction entrance, erosion controls, and tree-preservation barriers. City approval is secured for a 20-unit townhouse project, and engineering plans can transfer to the buyer or be customized.
Located just ten minutes from the University of Arkansas and downtown Fayetteville, the property is positioned to capture strong rental demand from students and professionals. With low vacancy rates, steady rent growth, and utilities already on site—water, sewer, and electricity—this shovel-ready site reduces development costs and accelerates timelines.
Overall, it represents a rare opportunity to deliver strong ROI, long-term appreciation, and multiple exit strategies in a high-growth market.
Listing Agent
Sudar Group Brokerage Phone: 479-308-8380 License #SA00095923 Listed on: 09/01/2025
Property Details
Property Type
- Land
Est. Annual Taxes
- $1,112
Lot Details
- 1.02 Acre Lot
- Partially Fenced Property
- Level Lot
- Cleared Lot
Community Details
- Fayetteville Outlots Subdivision
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $1,110 | $19,470 | $17,960 | $1,510 |
| 2023 | $889 | $19,470 | $17,960 | $1,510 |
| 2022 | $1,058 | $18,250 | $13,300 | $4,950 |
| 2021 | $3 | $18,250 | $13,300 | $4,950 |
| 2020 | $3 | $17,950 | $13,000 | $4,950 |
| 2019 | $3 | $12,110 | $6,500 | $5,610 |
| 2018 | $3 | $12,110 | $6,500 | $5,610 |
| 2017 | $0 | $12,110 | $6,500 | $5,610 |
| 2016 | -- | $12,110 | $6,500 | $5,610 |
| 2015 | -- | $12,110 | $6,500 | $5,610 |
| 2014 | -- | $6,090 | $3,600 | $2,490 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 09/01/2025 09/01/25 | For Sale | $690,000 | -- | -- |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Quit Claim Deed | -- | -- | |
| Deed | -- | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $5,049,464 | Construction | |
| Closed | $135,000 | Construction | |
| Closed | $135,000 | Future Advance Clause Open End Mortgage |
Source: Northwest Arkansas Board of REALTORS®
MLS Number: 1319928
APN: 765-15206-000
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