Duplex With Two 3BR
504 and 506 Mimi Lane Little Rock, AR 72211
New
For Sale
$219,000
MULTI_FAMILY - Little Rock, AR
Property Size2,250 SF
Lot Size0.22 Acres
Price / SF$97.33
Days on Market5
Property Features for 504 and 506 Mimi Lane
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 6
- Bathrooms
- 4
- Rooms
- Bedroom 1, Bathroom 1, Bathroom 3, Bedroom 2, Bedroom 6, Bedroom 3, Bathroom 2, Bedroom 5, Bedroom 4, Bathroom 4
- Patio and Porch features
- Deck, Porch
- Interior features
- Dryer Connection-Electric, Hot Water Heater-Gas, Smoke Detector, Fan - Ceiling
- Exterior features
- Partially Fenced, Outside Storage Area, Deck, Porch
- Fencing
- Partial
- Appliances
- Free-Standing Stove, Electric Range, Dishwasher, Free-Standing Stove, Electric Range, Dishwasher
- Standard status
- Active
- Size
- 2,250 SF
- Lot size
- 0.22 Acres
Taxes and HOA fees
- Tax Description
- Lot 16
- Tax Annual Amount
- 2220
Building Details
- Year built
- 1977
- Floors in Building
- 1
- Number of units
- 2
- Flooring type
- Vinyl, Tile
- Roof type
- Composition
- Architectural style
- Other
- Additional Structures
- Storage
Listing Agency:
Keller Williams Realty
(501) 907-5959
Listed By:
Yanyan Xie · License #SA00072425
(501) 580-8558
Added: Jul 21
Changed: Jul 22
Last Checked: Jul 25 at 5:06AM
MLS# 26029568
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 duplex includes two separate, currently occupied units. Each unit is configured with three bedrooms and two bathrooms and offers its own outside storage area and decking. The left-side unit includes updates such as new LVP flooring, new paint, new fans, a new kitchen hood, new vanities, a glass-top electric range, disposal, and toilets; the sewer line has also been replaced. HVAC for the right-side unit was replaced in 2024.
The property is located at 504 and 506 Mimi Lane in Little Rock, AR 72211, in Pulaski County. Public remarks note the area provides access to shopping, healthcare facilities, restaurants, and schools, along with easy access to the interstate.
With separate utilities for each unit, the property is set up to support either renting both units for dual rental income or occupying one unit while leasing the other, depending on an owner’s preference. See showing remarks for details on access.
The property is located at 504 and 506 Mimi Lane in Little Rock, AR 72211, in Pulaski County. Public remarks note the area provides access to shopping, healthcare facilities, restaurants, and schools, along with easy access to the interstate.
With separate utilities for each unit, the property is set up to support either renting both units for dual rental income or occupying one unit while leasing the other, depending on an owner’s preference. See showing remarks for details on access.
Key Highlights
- Duplex with 2 separate occupied units; each unit features 3 bedrooms and 2 bathrooms
- Each unit has its own utilities, helping minimize landlord responsibilities
- Left‑side unit updates include new LVP flooring, new paint, new fans, new kitchen hood, new vanities, and new glass top electric range
Financial Insights For Apartment 5plus
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 | $35.1k | $15.60 |
| − Vacancy | −$2.0k | −$0.90 |
| EGI | $33.1k | $14.70 |
| − OpEx | −$14.9k | −$6.61 |
| NOI | $18.2k | $8.08 |
2,250 SF · lease $15.60/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$293.4K
$256.7K – $342.3K
NOI $20,537 @ 7.0% cap · market cap 9.38%
Second Best
Apartment 5plus
$259.8K
$227.3K – $303.1K
NOI $18,185 @ 7.0% cap · market cap 8.30%
Theoretical Best
Office A
$408.7K
$357.7K – $476.9K
NOI $28,612 @ 7.0% cap · market cap 13.06%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Two occupied duplex units each offer three bedrooms and two bathrooms, with separate utilities and outdoor storage.
Where is this duplex located?
The property is located at 504 and 506 Mimi Lane Little Rock, AR.
What is the asking price?
The asking price for this property is $219,000.
What are key features of this property?
This property features: Duplex with 2 separate occupied units; each unit features 3 bedrooms and 2 bathrooms; Each unit has its own utilities, helping minimize landlord responsibilities; Left‑side unit updates include new LVP flooring, new paint, new fans, new kitchen hood, new vanities, and new glass top electric range
