Three Houses Package
For Sale
$270,000
2303 S Tyler Street, Little Rock, AR 72204
MULTI_FAMILY - Little Rock, AR
Property Size2,716 SF
Lot Size0.45 Acres
Price / SF$99.41
Days on Market94
Property Features for 2303 S Tyler Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Subdivision
Cherry & Cox
Lot features
Level
Directions
S Tyler- Going South on University, turn left/east on W 19th, right/south on S Tyler, 0.3 miles, the house is on your left. 2321 and 2405 S Fillmore- take first right onto W 24th, in 5 blocks both houses are on the opposite corners of S Fillmore
Standard status
Active
Size
2,716 SF
Lot size
0.45 Acres
Taxes and HOA fees
Tax Description
11/48 7/45 11/52
Tax Annual Amount
2713
Legal Description
11/48 7/45 11/52
Building Details
Year built
1956
Floors in Building
1
Number of units
3
Flooring type
Tile, Wood
Roof type
Composition
Architectural style
Other
Listing Agency:
ESQ. Realty Group
(501) 255-0509
Listed By:
Jerry Larkowski
(501) 831-0372
Added: May 6
Changed: Jun 11
Last Checked: Aug 7 at 7:06PM
MLS# 26018207
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 package deal features three houses located in the Cherry & Cox subdivision of Little Rock, Arkansas. The properties include 2321 S Fillmore (768 square feet), 2405 S. Fillmore (812 square feet), and 2303 S Tyler (1136 square feet). Each house contains two bedrooms and one bathroom. The total lot size for all three properties is 0.45 acres.
Key Highlights
- Three‑house package deal in the Cherry & Cox subdivision
- All three homes are 2 bed, 1 bath
- 2321 S Fillmore is a 768 SF home built in 1956
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
$24,791
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
9.18%
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%
$495,820
$495.8K
Cap Rate 7%
$354,157
$354.2K
Cap Rate 9%
$275,456
$275.5K
Market Conditions
NOI Build-Up for 2,716 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
$37.5K $13.80/SF
− Vacancy
−$2.1K −$0.76/SF
EGI
$35.4K $13.04/SF
− OpEx
−$10.6K −$3.91/SF
NOI
$24.8K $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%
$495,820
Cap Rate 7%
$354,157
Cap Rate 9%
$275,456
Alternative Uses
Best Use
Multifamily LT 5
$354.2K
$309.9K – $413.2K
NOI $24,791 @ 7.0% cap · market cap 9.18%
Second Best
Apartment 5plus
$313.6K
$274.4K – $365.9K
NOI $21,952 @ 7.0% cap · market cap 8.13%
Theoretical Best
Office A
$493.4K
$431.7K – $575.6K
NOI $34,537 @ 7.0% cap · market cap 12.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
491
Businesses Nearby
Explore this area
Business Placement
Demographics for 72204, AR
31,564
Population
14,570
Households
2.2
Avg Household Size
37
Median Age
22%
College-Educated
89%
High-School Grad
15.2 sq mi
ZIP Area
2,077
Density / Sq Mi
$39,088
Median Household Income
$29,733
Median Earnings
$1,016
Median Rent
$117,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three houses in Little Rock, AR, package deal.
Where is this triplex located?
The property is located at 2303 S Tyler Street Little Rock, AR.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: Three‑house package deal in the Cherry & Cox subdivision; All three homes are 2 bed, 1 bath; 2321 S Fillmore is a 768 SF home built in 1956
