Updated Duplex With Covered
For Sale
$298,000
2219 & 2221 Blackwood Road, Little Rock, AR 72207
Tenant-occupied duplex with recent interior, electrical, appliance, bathroom, and landscaping improvements.
Property Size2,016 SF
Price / SF$147.82
Days on Market13
Property Features for 2219 & 2221 Blackwood Road
General Information
Standard status
Active
Size
2,016 SF
Total Parking Spaces
2
Property subtype
Multi-family
Occupancy
100%
Additional Details
Multifamily Units
2
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
Chase Calhoun Real Estate LLC
Listed By:
Chase Calhoun
(501) 650-5137
Source:
Arprorealty
Added: Sep 15
Changed: Sep 17
Last Checked: Sep 26 at 6:17AM
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 Chase Calhoun Real Estate LLC
Investment Insights
Based on property information with market context.
This 2,016-square-foot duplex includes two tenant-occupied units and covered parking for 2 vehicles. Recent work spans updated electrical service and interior wiring, a new electric water heater, full interior painting, replacement flooring, refreshed bathrooms, new kitchen countertops, new kitchen appliances, and exterior landscaping.
The property is within the Jefferson and Central school district. Unit 2219 has a lease ending April 30, 2026, while Unit 2221 has a lease ending June 26, 2026. Both residences are occupied, and showings are not permitted; prospective purchasers should not disturb the tenants.
The property is within the Jefferson and Central school district. Unit 2219 has a lease ending April 30, 2026, while Unit 2221 has a lease ending June 26, 2026. Both residences are occupied, and showings are not permitted; prospective purchasers should not disturb the tenants.
Key Highlights
- 2,016‑square‑foot duplex with both units tenant‑occupied
- Covered parking for 2 vehicles
- Updated electrical service and interior wiring
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
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Current Use
Lease Details
2
Residential units
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
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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 - Tenant-occupied duplex with recent interior, electrical, appliance, bathroom, and landscaping improvements.
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: 2,016‑square‑foot duplex with both units tenant‑occupied; Covered parking for 2 vehicles; Updated electrical service and interior wiring
