Renovated Corner-Lot
For Sale
$215,000
1870 S Izard Street, Little Rock, AR 72206
Multi-Family, Traditional, Little Rock, AR
Property Size2,021 SF
Lot Size0.10 Acres
Price / SF$106.38
Days on Market439
Property Features for 1870 S Izard Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Appliances
Free-Standing Stove, Gas Range, Dishwasher, Disposal, Refrigerator-Stays, Free-Standing Stove, Gas Range, Dishwasher, Disposal, Refrigerator-Stays
Subdivision
Weldon E Wrights
Lot features
Level
Directions
From I-630 and Chester, go south on Chester to 19th St, turn left, go one block, house is on your left.
Standard status
Active
Size
2,021 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Description
East 83.9 ft of Lot 7 / Blk 24
Tax Annual Amount
1000
Legal Description
East 83.9 ft of Lot 7 / Blk 24
Building Details
Year built
1930
Floors in Building
2
Number of units
3
Flooring type
Vinyl
Roof type
Composition
Architectural style
Other
Listing Agency:
Real Broker
(885) 450-0442
Listed By:
Ray Ellen
(501) 313-7733
Added: Jul 23, 2025
Changed: Sep 21
Last Checked: Oct 4 at 10:06PM
MLS# 25029172
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 2,021-square-foot triplex, built in 1930, contains three residential units on a 0.1-acre corner lot. Each unit has been fully renovated, with vinyl flooring and listed appliances including gas ranges, dishwashers, disposals, and refrigerators. The property also has a new composition roof.
The building is located at 1870 S Izard Street in Little Rock, Arkansas, within ZIP Code 72206. The surrounding street includes historic homes. All three units are currently rented, providing an occupied multifamily configuration for a buyer seeking a property with established residential tenancy.
The building is located at 1870 S Izard Street in Little Rock, Arkansas, within ZIP Code 72206. The surrounding street includes historic homes. All three units are currently rented, providing an occupied multifamily configuration for a buyer seeking a property with established residential tenancy.
Key Highlights
- Three‑unit multifamily property with all 3 units rented
- 2,021 square feet on a 0.1‑acre corner lot
- All 3 units fully renovated
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
$18,447
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
8.58%
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%
$368,940
$368.9K
Cap Rate 7%
$263,529
$263.5K
Cap Rate 9%
$204,967
$205.0K
Market Conditions
NOI Build-Up for 2,021 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
$27.9K $13.80/SF
− Vacancy
−$1.5K −$0.76/SF
EGI
$26.4K $13.04/SF
− OpEx
−$7.9K −$3.91/SF
NOI
$18.4K $9.13/SF
Area
Little Rock, 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%
$368,940
Cap Rate 7%
$263,529
Cap Rate 9%
$204,967
Alternative Uses
Best Use
Multifamily LT 5
$263.5K
$230.6K – $307.5K
NOI $18,447 @ 7.0% cap · market cap 8.58%
Second Best
Apartment 5plus
$233.3K
$204.2K – $272.2K
NOI $16,334 @ 7.0% cap · market cap 7.60%
Theoretical Best
Office A
$367.1K
$321.3K – $428.3K
NOI $25,700 @ 7.0% cap · market cap 11.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
801
Businesses Nearby
Explore this area
Business Placement
Demographics for 72206, AR
22,974
Population
10,080
Households
2.3
Avg Household Size
43
Median Age
20%
College-Educated
87%
High-School Grad
111.6 sq mi
ZIP Area
206
Density / Sq Mi
$49,145
Median Household Income
$35,157
Median Earnings
$910
Median Rent
$132,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 rented units offer updated interiors, vinyl flooring, and a new composition roof.
Where is this triplex located?
The property is located at 1870 S Izard Street Little Rock, AR.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Three‑unit multifamily property with all 3 units rented; 2,021 square feet on a 0.1‑acre corner lot; All 3 units fully renovated
