New Construction
For Sale
$369,900
705 W 22nd St, North Little Rock, AR 72114
Two units feature open layouts, private primary suites, and contemporary kitchens designed for everyday functionality.
Property Size2,560 SF
Price / SF$144.49
Days on Market20
Property Features for 705 W 22nd St
General Information
Standard status
Active
Size
2,560 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$16
Listing Agency:
Riverwalk Real Estate
(479) 530-5060
Listed By:
Cope Gracy
(479) 530-5060
Source:
Exprealty
Added: Aug 1
Changed: Aug 18
Last Checked: Aug 19 at 12:19PM
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 Riverwalk Real Estate
Investment Insights
Based on property information with market context.
This newly constructed duplex offers 2,560 square feet across two residential units. Each unit includes three bedrooms, two bathrooms, an open-concept layout, a spacious living area, a contemporary kitchen with quality finishes, and a private primary suite. Energy-efficient features and durable materials support low-maintenance ownership.
The property is located minutes from downtown North Little Rock and the Argenta District, with shopping, restaurants, schools, parks, and major highways also nearby. The two-unit configuration provides flexibility for an owner-occupant arrangement or separate residential use.
The property is located minutes from downtown North Little Rock and the Argenta District, with shopping, restaurants, schools, parks, and major highways also nearby. The two-unit configuration provides flexibility for an owner-occupant arrangement or separate residential use.
Key Highlights
- Newly built duplex with 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
Property Profile
Current Use
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two units feature open layouts, private primary suites, and contemporary kitchens designed for everyday functionality.
Where is this duplex located?
The property is located at 705 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: Newly built duplex with 2,560 square feet; Each unit includes 3 bedrooms and 2 bathrooms; Open‑concept floor plans with spacious living areas
