Updated Duplex with Newer
For Sale
$139,900
902 W 45th St, North Little Rock, AR 72118
Two-unit residential property with refreshed interiors and convenient access to shopping, dining, and major roadways.
Property Size1,666 SF
Price / SF$83.97
Days on Market12
Property Features for 902 W 45th St
General Information
Standard status
Active
Size
1,666 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Average Monthly Rent
$550
Building Details
Year Built
1963
Buildings
1
Listing Agency:
Coldwell Banker K-C Realty
(479) 659-8151
Listed By:
Patriot Company Real Estate
(479) 439-1933
Source:
Patriotcompany
Added: Sep 9
Changed: Sep 19
Last Checked: Sep 19 at 8:48AM
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 Coldwell Banker K-C Realty
Investment Insights
Based on property information with market context.
This duplex contains 1,666 square feet arranged as two residential units, each offering two bedrooms and one bathroom. The property was built in 1963 and has received some updates, while the roof was replaced in 2023. Both units are configured for residential occupancy and provide a straightforward two-unit layout.
The property is located in North Little Rock with access to shopping, dining, and major roadways. Its established construction, two-unit configuration, and recent roof replacement provide a practical foundation for continued residential use.
The property is located in North Little Rock with access to shopping, dining, and major roadways. Its established construction, two-unit configuration, and recent roof replacement provide a practical foundation for continued residential use.
Key Highlights
- Two‑unit duplex with 1,666 square feet
- Each unit includes 2 bedrooms and 1 bathroom
- Roof replaced in 2023
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
$12,533
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
8.96%
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%
$250,660
$250.7K
Cap Rate 7%
$179,043
$179.0K
Cap Rate 9%
$139,256
$139.3K
Market Conditions
NOI Build-Up for 1,666 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
$24.2K $14.52/SF
− Vacancy
−$1.4K −$0.84/SF
EGI
$22.8K $13.68/SF
− OpEx
−$10.3K −$6.16/SF
NOI
$12.5K $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%
$250,660
Cap Rate 7%
$179,043
Cap Rate 9%
$139,256
Alternative Uses
Best Use
Multifamily LT 5
$200.0K
$175.0K – $233.4K
NOI $14,001 @ 7.0% cap · market cap 10.01%
Second Best
Apartment 5plus
$179.0K
$156.7K – $208.9K
NOI $12,533 @ 7.0% cap · market cap 8.96%
Theoretical Best
Specialty Retail
$317.8K
$278.1K – $370.8K
NOI $22,245 @ 7.0% cap · market cap 15.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
391
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 refreshed interiors and convenient access to shopping, dining, and major roadways.
Where is this duplex located?
The property is located at 902 W 45th St North Little Rock, AR.
What is the asking price?
The asking price for this property is $139,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,666 square feet; Each unit includes 2 bedrooms and 1 bathroom; Roof replaced in 2023
