Updated Two-Unit
New
For Sale
$189,000
605 Mimi Lane A & B A & B, Little Rock, AR 72211
Two-bedroom residences with separate utility responsibility and recent improvements to both units.
Property Size1,782 SF
Price / SF$106.06
Days on Market2
Property Features for 605 Mimi Lane A & B A & B
General Information
Standard status
Active
Size
1,782 SF
Property subtype
Multi-family
Listing Agency:
Keller Williams Realty
(501) 907-5959
Listed By:
Yanyan Xie · License #SA00072425
(501) 580-8558
Source:
Heilesassociatesrealtors
Added: Sep 2
Last Checked: Sep 2 at 2:24AM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This duplex at 605 Mimi Lane A & B contains two residences, each arranged with 2 bedrooms and 1 bathroom. Both units feature carpet-free flooring, while improvements include a roof and gutters that are 5 years old and attic insulation completed in March 2026. Unit-specific updates include newer kitchen and bathroom components, appliances, flooring, plumbing fixtures, a water heater, and ceiling fans.
The property is fully occupied, with tenants responsible for all utilities. Its Little Rock location provides access to major thoroughfares and highways, supporting convenient daily travel. The two-unit configuration offers an income-producing residential asset with distinct living spaces and recent maintenance work.
The property is fully occupied, with tenants responsible for all utilities. Its Little Rock location provides access to major thoroughfares and highways, supporting convenient daily travel. The two-unit configuration offers an income-producing residential asset with distinct living spaces and recent maintenance work.
Key Highlights
- Two‑unit duplex with 1,782 SF of total property size
- Each unit includes 2 bedrooms and 1 bathroom
- Fully occupied; tenants are responsible for all utilities
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$16,266
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.61%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$325,320
$325.3K
Cap Rate 7%
$232,371
$232.4K
Cap Rate 9%
$180,733
$180.7K
Market Conditions
NOI Build-Up for 1,782 SF
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.
Gross rent
$24.6K $13.80/SF
− Vacancy
−$1.4K −$0.76/SF
EGI
$23.2K $13.04/SF
− OpEx
−$7.0K −$3.91/SF
NOI
$16.3K $9.13/SF
Area
Little Rock, AR
Vacancy
5.51%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$325,320
Cap Rate 7%
$232,371
Cap Rate 9%
$180,733
Alternative Uses
Best Use
Multifamily LT 5
$232.4K
$203.3K – $271.1K
NOI $16,266 @ 7.0% cap · market cap 8.61%
Second Best
Apartment 5plus
$205.8K
$180.0K – $240.1K
NOI $14,403 @ 7.0% cap · market cap 7.62%
Theoretical Best
Office A
$323.7K
$283.3K – $377.7K
NOI $22,660 @ 7.0% cap · market cap 11.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,697
Businesses Nearby
Explore this area
Business Placement
Demographics for 72211, AR
24,338
Population
12,009
Households
2
Avg Household Size
35
Median Age
56%
College-Educated
97%
High-School Grad
8.3 sq mi
ZIP Area
2,932
Density / Sq Mi
$80,808
Median Household Income
$53,527
Median Earnings
$1,142
Median Rent
$257,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-bedroom residences with separate utility responsibility and recent improvements to both units.
Where is this duplex located?
The property is located at 605 Mimi Lane A & B A & B Little Rock, AR.
What is the asking price?
The asking price for this property is $189,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,782 SF of total property size; Each unit includes 2 bedrooms and 1 bathroom; Fully occupied; tenants are responsible for all utilities
