Duplex Under
For Sale
$289,900
1603 Orange Street, North Little Rock, AR 72114
MULTI_FAMILY - North Little Rock, AR
Property Size2,040 SF
Lot Size0.09 Acres
Price / SF$142.11
Days on Market64
Property Features for 1603 Orange Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bathroom 1, Bathroom 2, Bathroom 4, Bedroom 1, Bedroom 3, Bedroom 4, Bathroom 3
Appliances
Microwave, Electric Range, Dishwasher, Disposal, Ice Maker Connection, Microwave, Electric Range, Dishwasher, Disposal, Ice Maker Connection
Subdivision
North Argenta
Lot features
Corner Lot
Directions
South on Main, West on 18th stret, South on Orange
Standard status
Active
Size
2,040 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Description
Lot 8 Block 30 North Argenta
Tax Annual Amount
50
Legal Description
Lot 8 Block 30 North Argenta
Building Details
Year built
2026
Floors in Building
2
Number of units
2
Flooring type
Vinyl
Roof type
Shingle
Architectural style
Other
Listing Agency:
Riverwalk Real Estate
(479) 530-5060
Listed By:
Cope Gracy
(479) 530-5060
Added: Jun 18
Changed: Aug 12
Last Checked: Aug 20 at 9:06AM
MLS# 26024660
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.
Brand-new construction duplex on a 0.09-acre lot, currently under construction. The property comprises 2,040 square feet and is scheduled for completion in approximately 45 days. The units feature durable vinyl flooring, contemporary kitchens, and comfortable bedrooms, supported by energy-efficient systems and updated materials throughout. The roof is listed as shingle.
Located at 1603 Orange Street in North Little Rock (Pulaski County), the property is described as conveniently near downtown North Little Rock, the Argenta Arts District, shopping, dining, schools, and major transportation routes.
The duplex is positioned for either owner-occupancy of one unit while leasing the other or adding a newly built income-producing asset to an investment portfolio.
Located at 1603 Orange Street in North Little Rock (Pulaski County), the property is described as conveniently near downtown North Little Rock, the Argenta Arts District, shopping, dining, schools, and major transportation routes.
The duplex is positioned for either owner-occupancy of one unit while leasing the other or adding a newly built income-producing asset to an investment portfolio.
Key Highlights
- Brand‑new construction duplex under construction, year built 2026
- 2,040 square feet duplex on a 0.09‑acre lot
- Completion estimated in approximately 45 days
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
Lease Details
2
Residential units
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 - Brand-new duplex under construction with vinyl flooring, shingle roof, and energy-efficient systems, with completion estimated in about 45 days.
Where is this duplex located?
The property is located at 1603 Orange Street 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: Brand‑new construction duplex under construction, year built 2026; 2,040 square feet duplex on a 0.09‑acre lot; Completion estimated in approximately 45 days
