New Construction
For Sale
$369,900
701 W 22nd St, North Little Rock, AR 72114
Two energy-efficient residences offer open layouts, modern kitchens, and private primary suites.
Property Size2,560 SF
Price / SF$144.49
Days on Market19
Property Features for 701 W 22nd St
General Information
Standard status
Active
Size
2,560 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Building Details
Year Built
2026
Buildings
1
Listing Agency:
Arkansas Real Estate Collective, Conway Branch
Listed By:
Patriot Company Real Estate
(479) 439-1933
Source:
Patriotcompany
Added: Sep 9
Changed: Sep 26
Last Checked: Sep 26 at 6:57AM
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 Arkansas Real Estate Collective, Conway Branch
Investment Insights
Based on property information with market context.
Completed in 2026, this 2,560-square-foot duplex contains two residences, each with 3 bedrooms and 2 bathrooms. Both units feature open-concept living areas, contemporary kitchens with quality finishes, private primary suites, durable materials, and energy-efficient design. The layouts are suited to an owner-occupant arrangement or continued rental use, with one residence available for personal use while the other produces income.
The property is located minutes from downtown North Little Rock and the Argenta District, with shopping, restaurants, schools, parks, and major highways also nearby. Its recent construction and practical floor plans support low-maintenance ownership while providing features relevant to both renters and homeowners.
The property is located minutes from downtown North Little Rock and the Argenta District, with shopping, restaurants, schools, parks, and major highways also nearby. Its recent construction and practical floor plans support low-maintenance ownership while providing features relevant to both renters and homeowners.
Key Highlights
- Two‑unit duplex completed in 2026
- Each unit includes 3 bedrooms and 2 bathrooms
- 2,560 square feet across the duplex
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
$21,514
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
5.82%
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%
$430,280
$430.3K
Cap Rate 7%
$307,343
$307.3K
Cap Rate 9%
$239,044
$239.0K
Market Conditions
NOI Build-Up for 2,560 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
$32.9K $12.84/SF
− Vacancy
−$2.1K −$0.83/SF
EGI
$30.7K $12.01/SF
− OpEx
−$9.2K −$3.60/SF
NOI
$21.5K $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 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%
$430,280
Cap Rate 7%
$307,343
Cap Rate 9%
$239,044
Alternative Uses
Best Use
Multifamily LT 5
$307.3K
$268.9K – $358.6K
NOI $21,514 @ 7.0% cap · market cap 5.82%
Second Best
Apartment 5plus
$275.1K
$240.7K – $321.0K
NOI $19,258 @ 7.0% cap · market cap 5.21%
Theoretical Best
Specialty Retail
$488.3K
$427.3K – $569.7K
NOI $34,183 @ 7.0% cap · market cap 9.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
633
Businesses Nearby
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Business Placement
Demographics for 72114, AR
10,957
Population
6,733
Households
1.6
Avg Household Size
38
Median Age
19%
College-Educated
84%
High-School Grad
7.7 sq mi
ZIP Area
1,423
Density / Sq Mi
$28,594
Median Household Income
$27,564
Median Earnings
$781
Median Rent
$87,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two energy-efficient residences offer open layouts, modern kitchens, and private primary suites.
Where is this duplex located?
The property is located at 701 W 22nd St North Little Rock, AR.
What is the asking price?
The asking price for this property is $369,900.
What are key features of this property?
This property features: Two‑unit duplex completed in 2026; Each unit includes 3 bedrooms and 2 bathrooms; 2,560 square feet across the duplex
