Updated Duplex with
New
For Sale
$179,900
114 & 116 W I Avenue, North Little Rock, AR 72116
Multi-Family, Ranch, North Little Rock, AR
Property Size1,748 SF
Lot Size0.18 Acres
Price / SF$102.92
Days on Market2
Property Features for 114 & 116 W I Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 4, Bedroom 1
Parking features
Carport
Appliances
Free-Standing Stove, Free-Standing Stove
Subdivision
Park Hill
Lot features
Level
Directions
JFK Blvd. to west on I Ave.
Standard status
Active
Size
1,748 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Description
Lot 16C, Block 51
Tax Annual Amount
1763
Legal Description
Lot 16C, Block 51
Building Details
Year built
1950
Floors in Building
1
Number of units
2
Flooring type
Wood
Roof type
Composition
Architectural style
Ranch
Listing Agency:
PorchLight Realty - NLR
(501) 476-3994
Listed By:
Alicia Averitt Haley
(501) 831-4009
Added: Aug 31
Last Checked: Sep 1 at 3:06PM
MLS# 26035528
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 ranch-style duplex contains two separate residential units within 1,748 square feet. Improvements include updated HVAC systems, appliances, countertops, cabinets, and flooring. Wood flooring is present, and the property has a composition roof and carport parking. Built in 1950, the building sits on a 0.18-acre parcel.
Located at 114 & 116 W I Avenue in North Little Rock, the property is near shopping and dining, with access to interstate routes. The layout, separate units, and recent updates provide a clear physical profile for evaluating a multifamily property in an established residential setting.
Located at 114 & 116 W I Avenue in North Little Rock, the property is near shopping and dining, with access to interstate routes. The layout, separate units, and recent updates provide a clear physical profile for evaluating a multifamily property in an established residential setting.
Key Highlights
- Two‑unit duplex with 1,748 square feet of property size
- 0.18‑acre parcel in North Little Rock
- HVAC, appliances, countertops, cabinets, and flooring updates
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
$14,690
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
8.17%
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%
$293,800
$293.8K
Cap Rate 7%
$209,857
$209.9K
Cap Rate 9%
$163,222
$163.2K
Market Conditions
NOI Build-Up for 1,748 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
$22.4K $12.84/SF
− Vacancy
−$1.5K −$0.83/SF
EGI
$21.0K $12.01/SF
− OpEx
−$6.3K −$3.60/SF
NOI
$14.7K $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%
$293,800
Cap Rate 7%
$209,857
Cap Rate 9%
$163,222
Alternative Uses
Best Use
Multifamily LT 5
$209.9K
$183.6K – $244.8K
NOI $14,690 @ 7.0% cap · market cap 8.17%
Second Best
Apartment 5plus
$187.9K
$164.4K – $219.2K
NOI $13,150 @ 7.0% cap · market cap 7.31%
Theoretical Best
Specialty Retail
$333.4K
$291.8K – $389.0K
NOI $23,340 @ 7.0% cap · market cap 12.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
569
Businesses Nearby
Explore this area
Business Placement
Demographics for 72116, AR
21,715
Population
10,556
Households
2.1
Avg Household Size
42
Median Age
42%
College-Educated
97%
High-School Grad
6.5 sq mi
ZIP Area
3,341
Density / Sq Mi
$75,490
Median Household Income
$46,256
Median Earnings
$1,058
Median Rent
$218,700
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 separate units feature refreshed interior finishes and updated building systems.
Where is this duplex located?
The property is located at 114 & 116 W I Avenue North Little Rock, AR.
What is the asking price?
The asking price for this property is $179,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,748 square feet of property size; 0.18‑acre parcel in North Little Rock; HVAC, appliances, countertops, cabinets, and flooring updates
