North Little Rock Multifamily
For Sale
$295,000
515 Poe St, North Little Rock, AR 72117
MULTI_FAMILY - North Little Rock, AR
Property Size2,118 SF
Price / SF$139.28
Days on Market129
Property Features for 515 Poe St
General Information
Property type
Residential Multi Family
Property subtype
Other
Interior features
Washer Connection, Dryer Connection-Electric, Smoke Detector, Fan - Ceiling
Appliances
Free-Standing Stove, Electric Range, Free-Standing Stove, Electric Range
Subdivision
Poes
Lot features
Level
Directions
Poe & Short St
Standard status
Active
Size
2,118 SF
Taxes and HOA fees
Tax Annual Amount
2458
Building Details
Year built
1940
Floors in Building
1
Number of units
4
Flooring type
Vinyl
Roof type
Composition
Architectural style
Other
Listing Agency:
SB Realty & Property Management
(501) 315-6994
Listed By:
Erika Sisson
(501) 413-7817
Added: Apr 6
Changed: May 21
Last Checked: Aug 12 at 11:06AM
MLS# 26013260
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 property in North Little Rock, Arkansas, presents an investment opportunity with four units situated across three buildings, accompanied by a vacant lot. The properties, consisting of two single-family homes and one duplex, were remodeled three years ago. The vacant lot offers the potential for constructing an additional home or duplex. Currently, one home is rented for $900, another for $815, and each duplex unit is rented for $600. The owner is responsible for covering the water expenses for the duplex and one of the single-family homes. The property size totals 2118 square feet.
Key Highlights
- Four units across three buildings plus a vacant lot offer immediate rental income and future development potential.
- Remodeled three years ago, reducing immediate maintenance concerns.
- Includes two single‑family homes and one duplex, providing diverse rental options.
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
$17,799
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
6.03%
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%
$355,980
$356.0K
Cap Rate 7%
$254,271
$254.3K
Cap Rate 9%
$197,767
$197.8K
Market Conditions
NOI Build-Up for 2,118 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
$27.2K $12.84/SF
− Vacancy
−$1.8K −$0.83/SF
EGI
$25.4K $12.01/SF
− OpEx
−$7.6K −$3.60/SF
NOI
$17.8K $8.40/SF
Area
Pulaski County, AR
Vacancy
6.50%
Lease Rate
$12.84 /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%
$355,980
Cap Rate 7%
$254,271
Cap Rate 9%
$197,767
Alternative Uses
Best Use
Multifamily LT 5
$254.3K
$222.5K – $296.7K
NOI $17,799 @ 7.0% cap · market cap 6.03%
Second Best
Apartment 5plus
$227.6K
$199.2K – $265.6K
NOI $15,933 @ 7.0% cap · market cap 5.40%
Theoretical Best
Specialty Retail
$404.0K
$353.5K – $471.4K
NOI $28,281 @ 7.0% cap · market cap 9.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
248
Businesses Nearby
Explore this area
Business Placement
Demographics for 72117, AR
13,730
Population
6,691
Households
2.1
Avg Household Size
38
Median Age
28%
College-Educated
83%
High-School Grad
54.4 sq mi
ZIP Area
252
Density / Sq Mi
$41,670
Median Household Income
$31,903
Median Earnings
$1,125
Median Rent
$125,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Four units across three buildings plus vacant lot.
Where is this duplex located?
The property is located at 515 Poe St North Little Rock, AR.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Four units across three buildings plus a vacant lot offer immediate rental income and future development potential.; Remodeled three years ago, reducing immediate maintenance concerns.; Includes two single‑family homes and one duplex, providing diverse rental options.
