Duplex with Media
For Sale
$370,000
18 creekwood Cove, North Little Rock, AR 72116
CONDOS - North Little Rock, AR
Property Size2,712 SF
Price / SF$136.43
Days on Market146
Property Features for 18 creekwood Cove
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
3
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 3, Bedroom 2, Bedroom 1, Bonus Room, Bedroom 3, Bathroom 1, Bathroom 2, Game Room
Parking features
Garage
Fireplace
1
Appliances
Built-In Stove, Microwave, Electric Range, Dishwasher, Disposal, Refrigerator-Stays
Subdivision
Creekwood HPR
Lot features
Level, In Subdivision
Directions
North Hills Blvd Right onto Creekwood Sudivision
Standard status
Active
Size
2,712 SF
Taxes and HOA fees
Tax Description
LOT 18 /APT
Tax Annual Amount
4917
HOA Fee
$650 Monthly
Legal Description
LOT 18 /APT
Amenities
Media Room
Built in Lock Safe
Large Walk in Closet
walk-in attic
Laundry room
patio
Building Details
Year built
2001
Floors in Building
2
Flooring type
Carpet, Vinyl
Roof type
Shingle
Architectural style
Other
Listing Agency:
Plush Homes Co. Realtors
(501) 817-8511
Listed By:
Phiffany Spruill
(501) 993-5048
Added: Mar 30
Changed: Aug 6
Last Checked: Aug 22 at 8:06AM
MLS# 26012150
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.
This duplex-style condo is located in a gated community and offers a quiet setting with outdoor space and an interior designed for everyday comfort and entertaining. Inside, a dedicated media room includes surround sound equipment, and the home includes a fireplace. The primary suite features a large walk-in closet, with additional storage found in a walk-in attic. A dedicated laundry room and a game room are also included, along with multiple bedrooms and bathrooms. Flooring is listed as vinyl and carpet.
The home includes a garage for parking, and it was built in 2001. The kitchen is equipped with a built-in stove, microwave, electric range, dishwasher, disposal, and a refrigerator that stays with the property. The roof is listed as shingle.
Rooming includes bedroom and bathroom areas along with bonus and game room space, supporting flexible use within the layout.
The home includes a garage for parking, and it was built in 2001. The kitchen is equipped with a built-in stove, microwave, electric range, dishwasher, disposal, and a refrigerator that stays with the property. The roof is listed as shingle.
Rooming includes bedroom and bathroom areas along with bonus and game room space, supporting flexible use within the layout.
Key Highlights
- Gated community duplex condo with patio and fireplace
- Dedicated media room with surround sound equipment
- Primary suite with large walk‑in closet plus walk‑in attic
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
$22,791
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
6.16%
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%
$455,820
$455.8K
Cap Rate 7%
$325,586
$325.6K
Cap Rate 9%
$253,233
$253.2K
Market Conditions
NOI Build-Up for 2,712 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
$34.8K $12.84/SF
− Vacancy
−$2.3K −$0.83/SF
EGI
$32.6K $12.01/SF
− OpEx
−$9.8K −$3.60/SF
NOI
$22.8K $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%
$455,820
Cap Rate 7%
$325,586
Cap Rate 9%
$253,233
Alternative Uses
Best Use
Multifamily LT 5
$325.6K
$284.9K – $379.9K
NOI $22,791 @ 7.0% cap · market cap 6.16%
Second Best
Apartment 5plus
$291.5K
$255.0K – $340.0K
NOI $20,402 @ 7.0% cap · market cap 5.51%
Theoretical Best
Specialty Retail
$517.3K
$452.7K – $603.5K
NOI $36,212 @ 7.0% cap · market cap 9.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
684
Businesses Nearby
Explore this area
Business Placement
Demographics for 72116, AR
21,715
Population
10,556
Households
2.1
Avg Household Size
42
Median Age
42%
College-Educated
97%
High-School Grad
6.5 sq mi
ZIP Area
3,341
Density / Sq Mi
$75,490
Median Household Income
$46,256
Median Earnings
$1,058
Median Rent
$218,700
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 - Duplex in a gated community with a media room, patio, fireplace, and garage parking.
Where is this duplex located?
The property is located at 18 creekwood Cove North Little Rock, AR.
What is the asking price?
The asking price for this property is $370,000.
What are key features of this property?
This property features: Gated community duplex condo with patio and fireplace; Dedicated media room with surround sound equipment; Primary suite with large walk‑in closet plus walk‑in attic
