421 Sierra Madre Drive, North Little Rock, AR 72118
MULTI_FAMILY - North Little Rock, AR
- Added:
- Apr 17, 2026
- Days on Market:
- 81
- Last Refresh:
- Jul 6 at 6:06 am
Property Features for 421 Sierra Madre Drive
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking features
- Garage
- Appliances
- Free-Standing Stove, Surface Range, Refrigerator-Stays, Free-Standing Stove, Surface Range, Refrigerator-Stays
- Standard status
- Active
- Size
- 1,035 SF
- Lot size
- 0.18 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- PT Lot 47 & 48
- Tax Annual Amount
- 1066
Building Details
- Year built
- 1966
- Floors in Building
- 1
- Number of units
- 2
- Flooring type
- Wood, Vinyl, Tile
- Roof type
- Composition
- Architectural style
- Other
Listing agent Lisa Smith-Jones (501) 339-5024
Listing office Moore and Company Realtors - Conway 950 Hogan Lane, Suite 3, Russellville, AR (501) 358-6762
Listing date Apr 17, 2026
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
- Investor opportunity with one unit already leased at $600/month.
- Estimated CAP Rate of approximately 7%-8% based on projected rents.
- Low‑maintenance ownership with tenants paying all utilities and handling lawn care.
- Recent updates include new gas water heaters, updated plumbing and electrical.
- Each unit has approximately 500 sq ft with garage and off‑street parking.
- Refrigerator and stove convey with the property.
Overview
Recent updates include new gas water heaters, updated plumbing and electrical, and HVAC units estimated at approximately 4 and 6 years old. The roof is estimated at approximately 10 years old.
For investors or owner-operators looking for straightforward duplex cash-flow dynamics, this setup offers an occupied unit plus a ready-to-rent unit. Reported current annual income is $14,400, with projected rents of $600 to $650 per unit. Taxes are approximately $1,066 per year and insurance is approximately $1,200 per year, with an estimated cap rate of about 7% to 8% based on projected rents and typical expenses.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $13.3k | $12.84 |
| − Vacancy | −$864 | −$0.83 |
| EGI | $12.4k | $12.01 |
| − OpEx | −$3.7k | −$3.60 |
| NOI | $8.7k | $8.40 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- North Little Rock
- County
- Pulaski
- State
- Arkansas
- Longitude
- -92.293888
- Latitude
- 34.801141
