New Construction
New
For Sale
$369,900
701 W 22nd Street, North Little Rock, AR 72114
Multi-Family, Traditional, North Little Rock, AR
Property Size2,560 SF
Lot Size0.16 Acres
Price / SF$144.49
Days on Market5
Property Features for 701 W 22nd Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Interior features
Washer Connection, Dryer Connection-Electric, Smoke Detector, Fan - Ceiling
Appliances
Microwave, Electric Range, Dishwasher, Disposal, Ice Maker Connection, Microwave, Electric Range, Dishwasher, Disposal, Ice Maker Connection
Subdivision
Plainview
Lot features
In Subdivision
Directions
Main street to W 22nd Street, go west to the 4 new duplexes on the north side of the road.
Standard status
Active
Size
2,560 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Description
Lot 42, Plainview Addition
Tax Annual Amount
16
Legal Description
Lot 42, Plainview Addition
Building Details
Year built
2026
Floors in Building
1
Number of units
2
Flooring type
Vinyl, Tile
Roof type
Shingle
Architectural style
Other
Listing Agency:
Riverwalk Real Estate
Listed By:
Cope Gracy
(479) 530-5060
Added: Sep 6
Changed: Sep 7
Last Checked: Sep 10 at 8:06AM
MLS# 26036482
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 is under construction and is scheduled for completion in 2026. The 2,560-square-foot property contains two units, each with 3 bedrooms, 2 bathrooms, an open-concept floor plan, a spacious living area, a modern kitchen, and a private primary suite. Vinyl and tile flooring, shingle roofing, ceiling fans, and washer and electric dryer connections are included. Appliances include electric ranges, dishwashers, disposals, microwaves, and ice maker connections.
The property is located at 701 W 22nd Street in North Little Rock, near downtown North Little Rock, the Argenta District, shopping, restaurants, schools, parks, and major highways. The 0.16-acre lot supports a compact residential income property configuration with two separately arranged living units.
The property is located at 701 W 22nd Street in North Little Rock, near downtown North Little Rock, the Argenta District, shopping, restaurants, schools, parks, and major highways. The 0.16-acre lot supports a compact residential income property configuration with two separately arranged living units.
Key Highlights
- Duplex with 2 units totaling 2,560 square feet
- Each unit includes 3 bedrooms and 2 bathrooms
- Open‑concept floor plans with spacious living areas
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
Explore this area
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
Check the figures for this property
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-unit property with open-concept interiors, modern kitchens, and private primary suites.
Where is this duplex located?
The property is located at 701 W 22nd Street 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: Duplex with 2 units totaling 2,560 square feet; Each unit includes 3 bedrooms and 2 bathrooms; Open‑concept floor plans with spacious living areas
