Updated Two-Unit
For Sale
$179,900
401 & 403 W I Avenue #975, North Little Rock, AR 72116
Both residences are occupied, with prior improvements noted in each unit.
Property Size1,519 SF
Price / SF$118.43
Days on Market57
Property Features for 401 & 403 W I Avenue #975
General Information
Standard status
Active
Size
1,519 SF
Property subtype
Duplex
Occupancy
100%
Additional Details
Gross Income
$21,600
Multifamily Units
2
Tenant in Place
Yes
Building Details
Year Built
1955
Listing Agency:
Dustin White Realty
Listed By:
JC Cox
(870) 686-3650
Source:
Dustinwhiterealty
Added: Sep 6
Changed: Oct 28
Last Checked: Nov 1 at 2:13AM
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 Dustin White Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,519-square-foot duplex contains two rental units at 401 and 403 W I Avenue. Built in 1955, the property has received updates to both residences, and each is currently tenant occupied.
The duplex is in Park Hill, North Little Rock, with shopping, dining, and major thoroughfares described as accessible from the area.
The duplex is in Park Hill, North Little Rock, with shopping, dining, and major thoroughfares described as accessible from the area.
Key Highlights
- Two rental units at 401 and 403 W I Avenue
- 1,519 square feet
- Built in 1955
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.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
643
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are occupied, with prior improvements noted in each unit.
Where is this duplex located?
The property is located at 401 & 403 W I Avenue #975 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 rental units at 401 and 403 W I Avenue; 1,519 square feet; Built in 1955
