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    Kingwood Duplex: Investor Opportunity Title is generated by Realmo AI

    2219 & 2221 Blackwood Road, Little Rock, AR 72207

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    For Sale
    $298,000

    MULTI_FAMILY - Little Rock, AR

    Property size:
    2,016 SF
    Lot size:
    0.17 Acres
    Price / SF:
    $147/SF
    Added:
    Sep 30, 2025
    Days on Market:
    235
    Last Refresh:
    May 22 at 5:06 am

    Property Features for 2219 & 2221 Blackwood Road

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    4
    Bathrooms
    4
    Rooms
    Bedroom 2, Bedroom 4, Bathroom 1, Bedroom 1, Bathroom 3, Bedroom 3, Bathroom 2, Bathroom 4
    Parking features
    Carport
    Appliances
    Free-Standing Stove, Surface Range, Free-Standing Stove, Surface Range
    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

    Building Details

    Year built
    1965
    Floors in Building
    1
    Number of units
    2
    Flooring type
    Tile, Vinyl
    Roof type
    Composition
    Architectural style
    Other

    We can help!

    Listing Contact
    Chase Calhoun

    Listing agent Chase Calhoun

    Listing office Chase Calhoun Real Estate LLC 4909 Crockett St., Little Rock, AR

    Listing date Sep 30, 2025

    MLS# 25039151 Listing URL

    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.

    HighLights

    • Income‑producing duplex with long‑term tenants in place.
    • Located in the desirable Kingwood neighborhood within the sought‑after Jefferson and Central school district.
    • Recent improvements including updated electrical service and interior wiring, new electric water heater, full interior paint, all new flooring, updated bathrooms, new kitchen countertops, new kitchen appliances, and exterior landscaping.
    • Current rents are $1,095 and $1,195 per month with potential to increase to market rent of approximately $1,295 per month.
    • Leases in place until April 30, 2026 and June 26, 2026.
    • Covered 2‑car parking included.

    Overview

    This duplex presents an investor opportunity in the Kingwood neighborhood, situated within the Jefferson and Central school district. The property is being sold as an income-producing rental with both units currently tenant-occupied. The property includes covered 2-car parking. 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. Unit 2219 is leased at $1,095 per month with a lease ending April 30, 2026. Unit 2221 is leased at $1,195 per month with a lease ending June 26, 2026. The property has a strong rental history and long-term tenants. The lot size is 0.17 acres, and the property size is 2016 square feet.

    Financial Insights

    Value Estimation Calculated for Multifamily LT 5

    Conservative
    $204.5K
    NOI $18,402 @ 9.00% cap · cautious / downside scenario
    Moderate
    $262.9K
    NOI $18,402 @ 7.00% cap · market / base-case scenario
    Aggressive
    $368.0K
    NOI $18,402 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Multifamily LT 5

    Component $ $/SF
    Gross rent $27.8k $13.80
    − Vacancy −$1.5k −$0.76
    EGI $26.3k $13.04
    − OpEx −$7.9k −$3.91
    NOI $18.4k $9.13
    2,016 SF · lease $13.80/SF/yr · vacancy 5.51% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Multifamily LT 5
    $262.9K
    $230.0K – $306.7K (±1% cap)
    NOI $18,402 @ 7.0% cap · market cap 6.18%
    Second Best
    Apartment 5plus
    $232.8K
    $203.7K – $271.6K (±1% cap)
    NOI $16,294 @ 7.0% cap · market cap 5.47%
    Theoretical Best
    Office A
    $366.2K
    $320.5K – $427.3K (±1% cap)
    NOI $25,636 @ 7.0% cap · market cap 8.60%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Little Rock
    County
    Pulaski
    State
    Arkansas
    Longitude
    -92.350472
    Latitude
    34.773231

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    FAQs

    What type of property is this?
    Duplex - Income-producing duplex in Little Rock's desirable Kingwood neighborhood.
    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: Income‑producing duplex with long‑term tenants in place.; Located in the desirable Kingwood neighborhood within the sought‑after Jefferson and Central school district.; Recent improvements including **updated electrical service and interior wiring, new electric water heater, full interior paint, all new flooring, updated bathrooms, new kitchen countertops, new kitchen appliances, and exterior landscaping.**
    (501) 650-5137
    We can help!
    Listing Contact
    Chase Calhoun
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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