New Construction
For Sale
$369,900
705 W 22nd Street, North Little Rock, AR 72114
Multi-Family, Traditional, North Little Rock, AR
Property Size2,560 SF
Lot Size0.16 Acres
Price / SF$144.49
Days on Market35
Property Features for 705 W 22nd Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Interior features
Washer Connection, Dryer Connection-Electric, Smoke Detector, Fan - Ceiling
Appliances
Microwave, Electric Range, Dishwasher, Disposal, Ice Maker Connection, Microwave, Electric Range, Dishwasher, Disposal, Ice Maker Connection
Subdivision
Plainview
Lot features
In Subdivision
Directions
Main street to W 22nd Street, go west to the 4 new duplexes on the north side of the road.
Standard status
Active
Size
2,560 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Description
Lot 41, Plainview Addition
Tax Annual Amount
16
Legal Description
Lot 41, Plainview Addition
Building Details
Year built
2026
Floors in Building
1
Number of units
2
Flooring type
Tile, Vinyl
Roof type
Shingle
Architectural style
Other
Listing Agency:
Riverwalk Real Estate
Listed By:
Cope Gracy
(479) 530-5060
Added: Aug 1
Changed: Aug 24
Last Checked: Sep 4 at 5:06PM
MLS# 26031383
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 2,560-square-foot duplex is under construction for 2026 completion and includes two residential units. Each unit provides three bedrooms, two bathrooms, an open-concept arrangement, a spacious living area, a modern kitchen, and a private primary suite. Tile and vinyl flooring, electric laundry connections, ceiling fans, smoke detectors, and shingle roofing contribute to practical, durable interiors. Appliances include an electric range, dishwasher, disposal, microwave, and ice maker connection.
The property occupies 0.16 acres at 705 W 22nd Street in North Little Rock. Downtown North Little Rock, the Argenta District, shopping, restaurants, schools, parks, and major highways are described as minutes away. The duplex configuration supports separate residential living spaces within a newly constructed multifamily asset.
The property occupies 0.16 acres at 705 W 22nd Street in North Little Rock. Downtown North Little Rock, the Argenta District, shopping, restaurants, schools, parks, and major highways are described as minutes away. The duplex configuration supports separate residential living spaces within a newly constructed multifamily asset.
Key Highlights
- Two‑unit duplex under construction with a 2026 build year
- Each unit includes 3 bedrooms and 2 bathrooms
- Combined property size of 2,560 square feet on 0.16 acres
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
$21,514
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
5.82%
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%
$430,280
$430.3K
Cap Rate 7%
$307,343
$307.3K
Cap Rate 9%
$239,044
$239.0K
Market Conditions
NOI Build-Up for 2,560 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
$32.9K $12.84/SF
− Vacancy
−$2.1K −$0.83/SF
EGI
$30.7K $12.01/SF
− OpEx
−$9.2K −$3.60/SF
NOI
$21.5K $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%
$430,280
Cap Rate 7%
$307,343
Cap Rate 9%
$239,044
Alternative Uses
Best Use
Multifamily LT 5
$307.3K
$268.9K – $358.6K
NOI $21,514 @ 7.0% cap · market cap 5.82%
Second Best
Apartment 5plus
$275.1K
$240.7K – $321.0K
NOI $19,258 @ 7.0% cap · market cap 5.21%
Theoretical Best
Specialty Retail
$488.3K
$427.3K – $569.7K
NOI $34,183 @ 7.0% cap · market cap 9.24%
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
633
Businesses Nearby
Explore this area
Business Placement
Demographics for 72114, AR
10,957
Population
6,733
Households
1.6
Avg Household Size
38
Median Age
19%
College-Educated
84%
High-School Grad
7.7 sq mi
ZIP Area
1,423
Density / Sq Mi
$28,594
Median Household Income
$27,564
Median Earnings
$781
Median Rent
$87,900
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 contemporary residences offer open layouts, private primary suites, and low-maintenance finishes.
Where is this duplex located?
The property is located at 705 W 22nd Street North Little Rock, AR.
What is the asking price?
The asking price for this property is $369,900.
What are key features of this property?
This property features: Two‑unit duplex under construction with a 2026 build year; Each unit includes 3 bedrooms and 2 bathrooms; Combined property size of 2,560 square feet on 0.16 acres
