Tenant-Occupied Duplex with Covered
For Sale
$298,000
2219 & 2221 Blackwood Road, Little Rock, AR 72207
MULTI_FAMILY - Little Rock, AR
Property Size2,016 SF
Lot Size0.17 Acres
Price / SF$147.82
Days on Market316
Property Features for 2219 & 2221 Blackwood Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 2, Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 3, Bedroom 4, Bedroom 1
Parking features
Carport
Appliances
Free-Standing Stove, Surface Range, Free-Standing Stove, Surface Range
Subdivision
Queen Manor
Lot features
Sloped
Directions
University to West on Hawthorne to south on Blackwood
Standard status
Active
APN
43L-053-00-035-00
Size
2,016 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
Lot 35 Block 0
Tax Annual Amount
5243
Legal Description
Lot 35 Block 0
Building Details
Year built
1965
Floors in Building
1
Number of units
2
Flooring type
Vinyl, Tile
Roof type
Composition
Architectural style
Other
Listing Agency:
Chase Calhoun Real Estate LLC
(501) 650-5137
Listed By:
Chase Calhoun
(501) 650-5137
Added: Sep 30, 2025
Changed: Aug 4
Last Checked: Aug 11 at 7:06PM
MLS# 25039151
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 tenant-occupied duplex offers income-producing rental units with covered 2-car parking. Built in 1965 with a composition roof, the property totals 2,016 square feet on a 0.17-acre lot. Recent improvements include updated electrical service and interior wiring, a new electric water heater, full interior paint, new flooring, updated bathrooms, new kitchen countertops, new kitchen appliances, and exterior landscaping. Flooring includes tile and vinyl, and the unit layouts include multiple bedrooms and bathrooms across both sides.
Both units are currently leased. Unit 2219 has a lease ending April 30, 2026, and Unit 2221 has a lease ending June 26, 2026. The duplex is located in the Jefferson and Central school district.
No showings are permitted; please do not disturb tenants.
Both units are currently leased. Unit 2219 has a lease ending April 30, 2026, and Unit 2221 has a lease ending June 26, 2026. The duplex is located in the Jefferson and Central school district.
No showings are permitted; please do not disturb tenants.
Key Highlights
- 0.17‑acre duplex totaling 2,016 SF
- Built in 1965 with a composition roof
- Covered 2‑car parking with carport
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
$18,402
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
6.18%
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%
$368,040
$368.0K
Cap Rate 7%
$262,886
$262.9K
Cap Rate 9%
$204,467
$204.5K
Market Conditions
NOI Build-Up for 2,016 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
$27.8K $13.80/SF
− Vacancy
−$1.5K −$0.76/SF
EGI
$26.3K $13.04/SF
− OpEx
−$7.9K −$3.91/SF
NOI
$18.4K $9.13/SF
Area
Little Rock, AR
Vacancy
5.51%
Lease Rate
$13.80 /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%
$368,040
Cap Rate 7%
$262,886
Cap Rate 9%
$204,467
Alternative Uses
Best Use
Multifamily LT 5
$262.9K
$230.0K – $306.7K
NOI $18,402 @ 7.0% cap · market cap 6.18%
Second Best
Apartment 5plus
$232.8K
$203.7K – $271.6K
NOI $16,294 @ 7.0% cap · market cap 5.47%
Theoretical Best
Office A
$366.2K
$320.5K – $427.3K
NOI $25,636 @ 7.0% cap · market cap 8.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
562
Businesses Nearby
Explore this area
Business Placement
Demographics for 72207, AR
11,036
Population
5,800
Households
1.9
Avg Household Size
40
Median Age
69%
College-Educated
98%
High-School Grad
3.8 sq mi
ZIP Area
2,904
Density / Sq Mi
$93,958
Median Household Income
$59,658
Median Earnings
$942
Median Rent
$384,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Tenant-occupied duplex with covered carport parking and recent electrical, interior, and landscaping updates.
Where is this duplex located?
The property is located at 2219 & 2221 Blackwood Road Little Rock, AR.
What is the asking price?
The asking price for this property is $298,000.
What are key features of this property?
This property features: 0.17‑acre duplex totaling 2,016 SF; Built in 1965 with a composition roof; Covered 2‑car parking with carport
