New-Construction Duplex Near
For Sale
$289,900
1603 Orange St, North Little Rock, AR 72114
Two-unit property with contemporary finishes, durable flooring, and energy-efficient systems.
Property Size2,040 SF
Price / SF$142.11
Days on Market13
Property Features for 1603 Orange St
General Information
Standard status
Active
Size
2,040 SF
Property subtype
Multi-Family
Building Details
Year Built
2026
Listing Agency:
Riverwalk Real Estate
(479) 530-5060
Listed By:
Cope Gracy
Source:
Signaturearkansas
Added: Aug 20
Changed: Aug 30
Last Checked: Aug 31 at 6:21PM
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 Riverwalk Real Estate
Investment Insights
Based on property information with market context.
This 2026 duplex contains two residential units within approximately 2,040 square feet. Both residences are designed with practical layouts, generous living areas, contemporary kitchens, durable flooring, and comfortable bedrooms. Updated materials and energy-efficient systems support a lower-maintenance ownership profile, while construction is expected to reach completion in approximately 45 days.
The property is located in North Little Rock near downtown, the Argenta Arts District, shopping, dining, schools, and major transportation routes. Its two-unit format supports either an owner-occupant arrangement with one residence leased or ownership as a newly built residential income property.
The property is located in North Little Rock near downtown, the Argenta Arts District, shopping, dining, schools, and major transportation routes. Its two-unit format supports either an owner-occupant arrangement with one residence leased or ownership as a newly built residential income property.
Key Highlights
- Two‑unit duplex totaling approximately 2,040 square feet
- 2026 construction with approximately 45 days to completion
- Contemporary kitchens, durable flooring, and updated materials
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
$17,144
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
5.91%
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%
$342,880
$342.9K
Cap Rate 7%
$244,914
$244.9K
Cap Rate 9%
$190,489
$190.5K
Market Conditions
NOI Build-Up for 2,040 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
$26.2K $12.84/SF
− Vacancy
−$1.7K −$0.83/SF
EGI
$24.5K $12.01/SF
− OpEx
−$7.3K −$3.60/SF
NOI
$17.1K $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%
$342,880
Cap Rate 7%
$244,914
Cap Rate 9%
$190,489
Alternative Uses
Best Use
Multifamily LT 5
$244.9K
$214.3K – $285.7K
NOI $17,144 @ 7.0% cap · market cap 5.91%
Second Best
Apartment 5plus
$219.2K
$191.8K – $255.8K
NOI $15,347 @ 7.0% cap · market cap 5.29%
Theoretical Best
Specialty Retail
$389.1K
$340.5K – $454.0K
NOI $27,239 @ 7.0% cap · market cap 9.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
521
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-unit property with contemporary finishes, durable flooring, and energy-efficient systems.
Where is this duplex located?
The property is located at 1603 Orange St North Little Rock, AR.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: Two‑unit duplex totaling approximately 2,040 square feet; 2026 construction with approximately 45 days to completion; Contemporary kitchens, durable flooring, and updated materials
