Duplex with Composition
For Sale
$148,000
902 W 33rd Street, North Little Rock, AR 72118
Multi-Family, Traditional, North Little Rock, AR
Property Size1,680 SF
Lot Size0.28 Acres
Price / SF$88.10
Days on Market879
Property Features for 902 W 33rd Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Appliances
Free-Standing Stove, Free-Standing Stove
Subdivision
Twin City
Lot features
Sloped
Directions
Interstate 40 West to Levy exit. It's at the bottom of the ramp.
Standard status
Active
Size
1,680 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Description
Lot 1-2, Block 6
Tax Annual Amount
1345
Legal Description
Lot 1-2, Block 6
Building Details
Year built
1957
Floors in Building
1
Number of units
2
Roof type
Composition
Architectural style
Other
Listing Agency:
RGB Appraisals & Realty
(501) 843-2003
Listed By:
Katrina Yarboro
(501) 554-0274
Added: May 2, 2024
Changed: Sep 4
Last Checked: Sep 27 at 1:06PM
MLS# 24015059
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 duplex contains 1,680 square feet on a 0.28-acre lot and was built in 1957. The property includes two free-standing stoves and a composition roof, providing core features for a residential income asset.
Located in North Little Rock, Arkansas, the property is identified by the address 902 W 33rd Street. Its duplex configuration supports separate residential living spaces within one building.
Located in North Little Rock, Arkansas, the property is identified by the address 902 W 33rd Street. Its duplex configuration supports separate residential living spaces within one building.
Key Highlights
- Duplex configuration with 1,680 square feet
- Situated on a 0.28‑acre lot
- Built in 1957
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
$12,638
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
8.54%
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%
$252,760
$252.8K
Cap Rate 7%
$180,543
$180.5K
Cap Rate 9%
$140,422
$140.4K
Market Conditions
NOI Build-Up for 1,680 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
$24.4K $14.52/SF
− Vacancy
−$1.4K −$0.84/SF
EGI
$23.0K $13.68/SF
− OpEx
−$10.3K −$6.16/SF
NOI
$12.6K $7.52/SF
Area
Pulaski County, AR
Vacancy
5.80%
Lease Rate
$14.52 /SF/Yr
Expense Ratio
45.00%
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%
$252,760
Cap Rate 7%
$180,543
Cap Rate 9%
$140,422
Alternative Uses
Best Use
Multifamily LT 5
$201.7K
$176.5K – $235.3K
NOI $14,118 @ 7.0% cap · market cap 9.54%
Second Best
Apartment 5plus
$180.5K
$158.0K – $210.6K
NOI $12,638 @ 7.0% cap · market cap 8.54%
Theoretical Best
Specialty Retail
$320.5K
$280.4K – $373.9K
NOI $22,432 @ 7.0% cap · market cap 15.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
549
Businesses Nearby
Explore this area
Business Placement
Demographics for 72118, AR
22,582
Population
10,823
Households
2.1
Avg Household Size
37
Median Age
20%
College-Educated
88%
High-School Grad
27.6 sq mi
ZIP Area
818
Density / Sq Mi
$47,266
Median Household Income
$35,608
Median Earnings
$978
Median Rent
$115,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with separate free-standing stoves and a composition roof.
Where is this duplex located?
The property is located at 902 W 33rd Street North Little Rock, AR.
What is the asking price?
The asking price for this property is $148,000.
What are key features of this property?
This property features: Duplex configuration with 1,680 square feet; Situated on a 0.28‑acre lot; Built in 1957
