Duplex with Private Fenced
New
For Sale
$595,000
515 E 17th St, Little Rock, AR 72206
Multi-Family, Craftsman, Little Rock, AR
Property Size2,926 SF
Lot Size0.11 Acres
Price / SF$203.35
Days on Market6
Property Features for 515 E 17th St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 4, Bedroom 1, Bedroom 4, Bedroom 3, Bathroom 2, Bedroom 2, Bathroom 1, Bathroom 3, Bedroom 5, Bathroom 6, Bedroom 6, Bathroom 5
Parking features
Garage
Appliances
Microwave, Electric Range, Dishwasher, Disposal, Refrigerator-Stays, Microwave, Electric Range, Dishwasher, Disposal, Refrigerator-Stays
Subdivision
City of Little Rock
Lot features
Level
Directions
From 630, Take Exit 1A towards South Main St. In half a mile, turn left onto 17th street. House will be 0.6 mi down on the right.
Standard status
Active
Size
2,926 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Description
Lot 4, Block 160,City of LR L8
Tax Annual Amount
5975
Legal Description
Lot 4, Block 160,City of LR L8
Amenities
fenced yard
Building Details
Year built
2023
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Tile
Roof type
Metal, Shingle
Architectural style
Craftsman
Listing Agency:
HomeWay Realty
(501) 612-3965
Listed By:
Nicole Nark
(501) 612-3965
Added: Aug 24
Last Checked: Aug 29 at 9:06AM
MLS# 26034534
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 Craftsman duplex contains two standalone 3BR/2.5BA residences totaling 2926 square feet on 0.11 acres. Each unit includes a 1-car garage, a private fenced yard, vinyl and tile flooring, and a full appliance package with refrigerator, electric range, dishwasher, disposal, and microwave. Constructed in 2023, the property features contemporary finishes and has been maintained as a recently built asset. Both residences are furnished, and the furnishings are negotiable.
Located in downtown Little Rock, the property is approximately five minutes from the airport and near major hospitals. It has operated as both a long-term rental and a short-term rental, providing flexibility in how the duplex is managed. The layout and separate outdoor areas support distinct occupancy for each side.
Located in downtown Little Rock, the property is approximately five minutes from the airport and near major hospitals. It has operated as both a long-term rental and a short-term rental, providing flexibility in how the duplex is managed. The layout and separate outdoor areas support distinct occupancy for each side.
Key Highlights
- 2023‑built duplex with two standalone 3BR/2.5BA units
- 2926 square feet on 0.11 acres
- Each unit includes a 1‑car garage and private fenced yard
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
$26,708
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
4.49%
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%
$534,160
$534.2K
Cap Rate 7%
$381,543
$381.5K
Cap Rate 9%
$296,756
$296.8K
Market Conditions
NOI Build-Up for 2,926 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
$40.4K $13.80/SF
− Vacancy
−$2.2K −$0.76/SF
EGI
$38.2K $13.04/SF
− OpEx
−$11.4K −$3.91/SF
NOI
$26.7K $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%
$534,160
Cap Rate 7%
$381,543
Cap Rate 9%
$296,756
Alternative Uses
Best Use
Multifamily LT 5
$381.5K
$333.9K – $445.1K
NOI $26,708 @ 7.0% cap · market cap 4.49%
Second Best
Apartment 5plus
$337.8K
$295.6K – $394.2K
NOI $23,649 @ 7.0% cap · market cap 3.97%
Theoretical Best
Office A
$531.5K
$465.1K – $620.1K
NOI $37,208 @ 7.0% cap · market cap 6.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
664
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two furnished residential units offer private fenced yards, individual garages, and flexible long- or short-term rental use.
Where is this duplex located?
The property is located at 515 E 17th St Little Rock, AR.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 2023‑built duplex with two standalone 3BR/2.5BA units; 2926 square feet on 0.11 acres; Each unit includes a 1‑car garage and private fenced yard
