Duplex with Renovation
New
For Sale
$180,000
124 S Woodrow Street, Little Rock, AR 72205
Two-unit property offering off-street parking and one unit ready for completion.
Property Size1,872 SF
Price / SF$96.15
Days on Market7
Property Features for 124 S Woodrow Street
General Information
Standard status
Active
Size
1,872 SF
Total Parking Spaces
2
Property subtype
Multi-family
Property Condition
Severity
Major Repairs Needed
Evidence
currently down to the studs
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Buildings
1
Listing Agency:
Engel & Volkers
(501) 663-6000
Listed By:
Ryan Stephens
(501) 551-2430
Source:
Arprorealty
Added: Sep 21
Last Checked: Sep 26 at 6:13AM
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 Engel & Volkers
Investment Insights
Based on property information with market context.
This 1,872 SF duplex includes two separate units and is being offered in its current as-is condition. One unit has been opened to the studs, with new windows and Hardie siding already installed, giving the next owner a defined completion project. The second unit remains intact and can be improved according to the buyer’s plans.
Exterior features include a driveway, off-street parking, and a dedicated two-car parking pad. The roof was replaced in 2020. Located at 124 S Woodrow Street in Little Rock’s Historic Capitol View, the property offers access to Hillcrest, Downtown Little Rock, neighborhood amenities, and major freeway connections.
The duplex presents a combination of completed exterior improvements, an unfinished unit, and an intact second unit within a two-unit residential income property.
Exterior features include a driveway, off-street parking, and a dedicated two-car parking pad. The roof was replaced in 2020. Located at 124 S Woodrow Street in Little Rock’s Historic Capitol View, the property offers access to Hillcrest, Downtown Little Rock, neighborhood amenities, and major freeway connections.
The duplex presents a combination of completed exterior improvements, an unfinished unit, and an intact second unit within a two-unit residential income property.
Key Highlights
- 1,872 SF duplex with two separate units
- One unit is down to the studs for completion
- New windows and Hardie siding installed on one unit
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
$15,130
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
8.41%
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%
$302,600
$302.6K
Cap Rate 7%
$216,143
$216.1K
Cap Rate 9%
$168,111
$168.1K
Market Conditions
NOI Build-Up for 1,872 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
$29.2K $15.60/SF
− Vacancy
−$1.7K −$0.90/SF
EGI
$27.5K $14.70/SF
− OpEx
−$12.4K −$6.61/SF
NOI
$15.1K $8.08/SF
Area
Little Rock, AR
Vacancy
5.80%
Lease Rate
$15.60 /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%
$302,600
Cap Rate 7%
$216,143
Cap Rate 9%
$168,111
Alternative Uses
Best Use
Multifamily LT 5
$244.1K
$213.6K – $284.8K
NOI $17,087 @ 7.0% cap · market cap 9.49%
Second Best
Apartment 5plus
$216.1K
$189.1K – $252.2K
NOI $15,130 @ 7.0% cap · market cap 8.41%
Theoretical Best
Office A
$340.1K
$297.6K – $396.8K
NOI $23,805 @ 7.0% cap · market cap 13.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
552
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
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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 property offering off-street parking and one unit ready for completion.
Where is this duplex located?
The property is located at 124 S Woodrow Street Little Rock, AR.
What is the asking price?
The asking price for this property is $180,000.
What are key features of this property?
This property features: 1,872 SF duplex with two separate units; One unit is down to the studs for completion; New windows and Hardie siding installed on one unit
