Updated
For Sale
$298,000
2219 & 2221 Blackwood Road, Little Rock, AR 72207
Multi-Family, Traditional, Little Rock, AR
Property Size2,016 SF
Lot Size0.17 Acres
Price / SF$147.82
Days on Market371
Property Features for 2219 & 2221 Blackwood Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bedroom 3, Bathroom 3, Bathroom 4, Bedroom 4, Bathroom 2, Bedroom 2, Bathroom 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
Listed By:
Chase Calhoun
(501) 650-5137
Added: Sep 30, 2025
Changed: Sep 16
Last Checked: Oct 5 at 12:06AM
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 duplex in Little Rock’s Kingwood neighborhood contains 2,016 square feet on a 0.17-acre lot. Built in 1965, the property has received multiple updates, including electrical service and interior wiring, an electric water heater, interior paint, flooring, bathrooms, kitchen countertops, appliances, and exterior landscaping. Tile and vinyl flooring, composition roofing, and a covered carport are also included.
Both units are occupied by tenants, with leases extending through April 30, 2026, and June 26, 2026. The property is located within the Jefferson and Central school district. The offering includes the addresses 2219 and 2221 Blackwood Road in Little Rock, Arkansas, with no showings permitted while the units are occupied.
Both units are occupied by tenants, with leases extending through April 30, 2026, and June 26, 2026. The property is located within the Jefferson and Central school district. The offering includes the addresses 2219 and 2221 Blackwood Road in Little Rock, Arkansas, with no showings permitted while the units are occupied.
Key Highlights
- Duplex with 2,016 square feet on a 0.17‑acre lot
- Both units are tenant‑occupied with leases ending April 30, 2026, and June 26, 2026
- Electrical service and interior wiring have been updated
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
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
640
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 refreshed interiors, electrical improvements, and covered parking.
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: Duplex with 2,016 square feet on a 0.17‑acre lot; Both units are tenant‑occupied with leases ending April 30, 2026, and June 26, 2026; Electrical service and interior wiring have been updated
