Four-Bedroom Duplex with
For Sale
$344,000
22 Creekwood Cove, North Little Rock, AR 72116
Residential, Traditional, North Little Rock, AR
Property Size2,638 SF
Price / SF$130.40
Days on Market97
Property Features for 22 Creekwood Cove
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
4
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 2, Bedroom 4, Bedroom 2, Den, Bathroom 3, Bedroom 3, Laundry Room, Bathroom 1, Bedroom 1
Parking features
Open, Garage
Security features
Security System
Patio and Porch features
Deck
Interior features
Washer Connection, Dryer Connection-Electric, Water Heater-Gas, Security System, Floored Attic, Walk-In Closet(s), Ceiling Fan(s), Walk-in Shower, Breakfast Bar, Kit Counter- Granite Slab
Exterior features
Deck, Partially Fenced, Guttering
Fencing
Partial
Fireplace
1
Appliances
Microwave, Electric Range, Dishwasher, Disposal, Pantry, Ice Maker Connection, Wall Oven
Subdivision
CREEKWOOD HPR
Lot features
Level, Cul-de-sac, In Subdivision, Flood Insurance Required
Directions
Go McCain pass the mall and turn right on N Hills. Go to the bottom of the hill and turn right on Creekwood. Go thru the gate and follow around. Property on the right at the end.
Standard status
Active
Size
2,638 SF
Taxes and HOA fees
Tax Description
Lot 22
Tax Annual Amount
2900
HOA Fee
$607 Monthly
Legal Description
Lot 22
Amenities
gated community
wood flooring
gas fireplace
built in bookshelves
formal dining
breakfast bar
bay window
double vanity
jetted tub
separate shower
walk in closet
laundry room
bonus room
walk in attic
deck
Building Details
Year built
2002
Floors in Building
2
Flooring type
Wood, Tile, Carpet
Roof type
Shingle
Architectural style
Other
Listing Agency:
McKimmey Associates, Realtors - 50 Pine
(501) 843-3502
Listed By:
Ginger Marshall
(501) 351-6348
Added: Jun 30
Changed: Sep 28
Last Checked: Oct 4 at 7:06PM
MLS# 26026413
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.
Built in 2002, this 2,638-square-foot duplex offers four bedrooms, including a downstairs primary suite, along with three bathrooms. The den features wood flooring, a gas fireplace and built-in bookshelves. A formal dining room has built-in cabinetry, while the kitchen includes a breakfast bar, pantry and additional dining area beside a bay window. Upstairs, two bedrooms accompany a bonus room that can serve as a fourth bedroom or game room. A walk-in attic and a separate storage room off the laundry area provide additional storage. The home also has a garage, a partially fenced yard and a rear deck.
Key Highlights
- 2,638 square feet; built in 2002
- Four bedrooms and three bathrooms, including a downstairs primary suite
- Upstairs bonus room can function as a fourth bedroom or game room
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
$22,169
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
6.44%
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%
$443,380
$443.4K
Cap Rate 7%
$316,700
$316.7K
Cap Rate 9%
$246,322
$246.3K
Market Conditions
NOI Build-Up for 2,638 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
$33.9K $12.84/SF
− Vacancy
−$2.2K −$0.83/SF
EGI
$31.7K $12.01/SF
− OpEx
−$9.5K −$3.60/SF
NOI
$22.2K $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%
$443,380
Cap Rate 7%
$316,700
Cap Rate 9%
$246,322
Alternative Uses
Best Use
Multifamily LT 5
$316.7K
$277.1K – $369.5K
NOI $22,169 @ 7.0% cap · market cap 6.44%
Second Best
Apartment 5plus
$283.5K
$248.1K – $330.8K
NOI $19,845 @ 7.0% cap · market cap 5.77%
Theoretical Best
Specialty Retail
$503.2K
$440.3K – $587.1K
NOI $35,224 @ 7.0% cap · market cap 10.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
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
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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 - A 2,638-square-foot residence combines a downstairs primary suite with flexible upstairs space and a private outdoor deck.
Where is this duplex located?
The property is located at 22 Creekwood Cove North Little Rock, AR.
What is the asking price?
The asking price for this property is $344,000.
What are key features of this property?
This property features: 2,638 square feet; built in 2002; Four bedrooms and three bathrooms, including a downstairs primary suite; Upstairs bonus room can function as a fourth bedroom or game room
