Two-Unit Duplex with Updated
For Sale
$179,900
331 & 333 W I Avenue, North Little Rock, AR 72116
Multi-Family, Traditional, North Little Rock, AR
Property Size1,519 SF
Lot Size0.14 Acres
Price / SF$118.43
Days on Market56
Property Features for 331 & 333 W I Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 4, Bedroom 3, Bathroom 1, Bedroom 1, Bedroom 2
Parking features
Carport
Patio and Porch features
Porch
Interior features
Fan - Ceiling, Hot Water Heater-Gas
Exterior features
Porch
Appliances
Electric Range, Free-Standing Stove, Electric Range, Free-Standing Stove
Subdivision
Park Hill
Lot features
In Subdivision, Level
Directions
JFK to west on I Avenue.
Standard status
Active
Size
1,519 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Description
Lot 4, Block 52
Tax Annual Amount
1533
Legal Description
Lot 4, Block 52
Building Details
Year built
1953
Floors in Building
1
Number of units
2
Flooring type
Wood, Vinyl
Roof type
Composition
Architectural style
Other
Listing Agency:
PorchLight Realty - NLR
(501) 476-3994
Listed By:
Alicia Averitt Haley
(501) 831-4009
Added: Sep 6
Changed: Oct 30
Last Checked: Oct 31 at 6:06AM
MLS# 26036425
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.
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Investment Insights
Based on property information with market context.
This duplex contains two separate two-bedroom, one-bath residences within a 1,519-square-foot property on 0.14 acres. Constructed in 1953, the building has wood and vinyl flooring, gas water heating, ceiling fans, porches, and carport parking. The composition roof was replaced in 2020. Each unit includes a stove and electric range.
The property is located at 331 & 333 W I Avenue in North Little Rock, within the Park Hill area. Shopping, dining, and major thoroughfares are identified nearby, providing access to everyday services and primary routes. The two-unit configuration and established residential setting support continued use as a duplex property.
The property is located at 331 & 333 W I Avenue in North Little Rock, within the Park Hill area. Shopping, dining, and major thoroughfares are identified nearby, providing access to everyday services and primary routes. The two-unit configuration and established residential setting support continued use as a duplex property.
Key Highlights
- Two separate 2‑bedroom, 1‑bath units
- 1,519 square feet on a 0.14‑acre lot
- Composition roof replaced in 2020
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,765
Cap Rate
7.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$255,300
$255.3K
Cap Rate 7%
$182,357
$182.4K
Cap Rate 9%
$141,833
$141.8K
Market Conditions
NOI Build-Up for 1,519 SF
Gross rent
$19.5K $12.84/SF
− Vacancy
−$1.3K −$0.83/SF
EGI
$18.2K $12.01/SF
− OpEx
−$5.5K −$3.60/SF
NOI
$12.8K $8.40/SF
Area
Pulaski County, AR
Vacancy
6.50%
Lease Rate
$12.84 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$255,300
Cap Rate 7%
$182,357
Cap Rate 9%
$141,833
Alternative Uses
Best Use
Multifamily LT 5
$182.4K
$159.6K – $212.8K
NOI $12,765 @ 7.0% cap · market cap 7.10%
Second Best
Apartment 5plus
$163.2K
$142.8K – $190.5K
NOI $11,427 @ 7.0% cap · market cap 6.35%
Theoretical Best
Specialty Retail
$289.8K
$253.5K – $338.1K
NOI $20,283 @ 7.0% cap · market cap 11.27%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
643
Businesses Nearby
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Business Placement
Demographics for 72116, AR
21,715
Population
10,556
Households
2.1
Avg Household Size
42
Median Age
42%
College-Educated
97%
High-School Grad
6.5 sq mi
ZIP Area
3,341
Density / Sq Mi
$75,490
Median Household Income
$46,256
Median Earnings
$1,058
Median Rent
$218,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence offers two bedrooms, one bathroom, a porch, and carport parking in North Little Rock’s Park Hill area.
Where is this duplex located?
The property is located at 331 & 333 W I Avenue North Little Rock, AR.
What is the asking price?
The asking price for this property is $179,900.
What are key features of this property?
This property features: Two separate 2‑bedroom, 1‑bath units; 1,519 square feet on a 0.14‑acre lot; Composition roof replaced in 2020
