Two-Unit Duplex with Hardwood
For Sale
$315,000
123 S Schiller St, Little Rock, AR 72205
Two-bedroom, one-bath units include a vacant upper residence and an occupied lower unit with existing tenants.
Property Size2,444 SF
Price / SF$128.89
Days on Market9
Property Features for 123 S Schiller St
General Information
Standard status
Active
Size
2,444 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
deck
Building Details
Year Built
1942
Buildings
1
Listing Agency:
Arkansas Real Estate Collective, Conway Branch
(501) 444-2055
Listed By:
Amber Wood
(501) 444-2055
Source:
Midsouthar
Added: Aug 24
Changed: Aug 31
Last Checked: Aug 31 at 3:01PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Arkansas Real Estate Collective, Conway Branch
Investment Insights
Based on property information with market context.
Built in 1942, this duplex contains two residences, each with two bedrooms and one bathroom. The upper unit measures over 1,200 square feet and is vacant, freshly painted, professionally cleaned, and ready for occupancy. Hardwood flooring extends throughout the residence, while a refrigerator, washer, and dryer are included. A deck adds outdoor space to the upper unit.
The lower unit is occupied by tenants who have maintained the residence, providing an existing income-producing component. The property is located at 123 S Schiller Street in Little Rock’s Capital View area, with access to downtown Little Rock, Hillcrest, and nearby freeways. Its two-unit configuration supports either owner occupancy with a tenant in the other residence or continued rental use, as described in the property information.
The lower unit is occupied by tenants who have maintained the residence, providing an existing income-producing component. The property is located at 123 S Schiller Street in Little Rock’s Capital View area, with access to downtown Little Rock, Hillcrest, and nearby freeways. Its two-unit configuration supports either owner occupancy with a tenant in the other residence or continued rental use, as described in the property information.
Key Highlights
- Two units, each with 2 bedrooms and 1 bathroom
- Upper unit measures over 1,200 square feet and is vacant
- Upper residence has been freshly painted and professionally cleaned
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
$22,308
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
7.08%
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%
$446,160
$446.2K
Cap Rate 7%
$318,686
$318.7K
Cap Rate 9%
$247,867
$247.9K
Market Conditions
NOI Build-Up for 2,444 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
$33.7K $13.80/SF
− Vacancy
−$1.9K −$0.76/SF
EGI
$31.9K $13.04/SF
− OpEx
−$9.6K −$3.91/SF
NOI
$22.3K $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%
$446,160
Cap Rate 7%
$318,686
Cap Rate 9%
$247,867
Alternative Uses
Best Use
Multifamily LT 5
$318.7K
$278.9K – $371.8K
NOI $22,308 @ 7.0% cap · market cap 7.08%
Second Best
Apartment 5plus
$282.2K
$246.9K – $329.2K
NOI $19,753 @ 7.0% cap · market cap 6.27%
Theoretical Best
Office A
$444.0K
$388.5K – $518.0K
NOI $31,079 @ 7.0% cap · market cap 9.87%
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
1,163
Businesses Nearby
Explore this area
Business Placement
Demographics for 72205, AR
22,888
Population
12,187
Households
1.9
Avg Household Size
39
Median Age
54%
College-Educated
96%
High-School Grad
8.0 sq mi
ZIP Area
2,861
Density / Sq Mi
$62,888
Median Household Income
$50,948
Median Earnings
$1,110
Median Rent
$204,400
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-bedroom, one-bath units include a vacant upper residence and an occupied lower unit with existing tenants.
Where is this duplex located?
The property is located at 123 S Schiller St Little Rock, AR.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1 bathroom; Upper unit measures over 1,200 square feet and is vacant; Upper residence has been freshly painted and professionally cleaned
