North Little Rock Duplex
421 Sierra Madre Drive, North Little Rock, AR 72118
MULTI_FAMILY - North Little Rock, AR
Property size:
1,035 SFLot size:
0.18 AcresPrice / SF:
$133/SF- Added:
- Apr 17, 2026
- Days on Market:
- 36
- Last Refresh:
- May 22 at 12:06 pm
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
MLS# 26015388
Listing URL
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
This duplex in North Little Rock presents an investor opportunity. The property includes one unit currently leased at $600 per month on a month-to-month basis, and one vacant unit ready for a new tenant. Each unit is approximately 500 square feet, totaling 1,000 square feet for the property. The lot size is 0.18 acres. The property features a garage and off-street parking. Tenants are responsible for all utilities and lawn care, contributing to low-maintenance ownership. Recent updates include new gas water heaters, updated plumbing and electrical systems, and HVAC units approximately 4 and 6 years old. The roof is approximately 10 years old. A refrigerator and stove are included. The current annual income is $14,400, with projected rents of $600-$650 per unit. Taxes are approximately $1,066 per year, and insurance is approximately $1,200 per year. The estimated CAP rate is approximately 7%-8% based on projected rents and typical expenses.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$96.6K
NOI $8,698 @ 9.00% cap · cautious / downside scenario
Moderate
$124.3K
NOI $8,698 @ 7.00% cap · market / base-case scenario
Aggressive
$174.0K
NOI $8,698 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Multifamily LT 5
| 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 |
1,035 SF · lease $12.84/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$124.3K
$108.7K – $145.0K
NOI $8,698 @ 7.0% cap · market cap 6.28%
Second Best
Apartment 5plus
$111.2K
$97.3K – $129.8K
NOI $7,786 @ 7.0% cap · market cap 5.62%
Theoretical Best
Specialty Retail
$197.4K
$172.8K – $230.3K
NOI $13,820 @ 7.0% cap · market cap 9.98%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- North Little Rock
- County
- Pulaski
- State
- Arkansas
- Longitude
- -92.293888
- Latitude
- 34.801141
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Duplex with tenant and vacant unit, great investment opportunity.
Where is this duplex located?
The property is located at 421 Sierra Madre Drive North Little Rock, AR.
What is the asking price?
The asking price for this property is $138,500.
What are key features of this property?
This property features: 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.
