Duplex with Covered
For Sale
Under Contract
$179,000
813 Wright Avenue, Little Rock, AR 72206
Multi-Family, Traditional, Little Rock, AR
Property Size1,790 SF
Lot Size0.17 Acres
Price / SF$100
Days on Market58
Property Features for 813 Wright Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Patio and Porch features
Porch
Interior features
Washer Connection, Dryer Connection-Gas, Hot Water Heater-Gas
Exterior features
Covered, Porch
Appliances
Free-Standing Stove, Gas Range, Free-Standing Stove, Gas Range
Subdivision
Weldon E Wrights
Lot features
Level
Directions
From I630, take Chester St exit, go South, make a left on Wright Ave, the house will be on your right.
Standard status
Active Under Contract
Size
1,790 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Description
Lot 1 Block 11
Tax Annual Amount
1154
Legal Description
Lot 1 Block 11
Building Details
Year built
1950
Floors in Building
1
Number of units
2
Flooring type
Tile, Vinyl
Roof type
Composition
Architectural style
Other
Listing Agency:
Keller Williams Realty
(501) 907-5959
Listed By:
Rebecca Finney
(501) 907-5959
Added: Jul 6
Changed: Aug 19
Last Checked: Sep 1 at 7:06PM
MLS# 26027415
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 offers 1,790 square feet of residential space on a 0.17-acre lot. Built in 1950, the property includes two bathrooms, a covered porch, tile and vinyl flooring, and windows that have been replaced. Interior utility features include washer and gas dryer connections, while the property is equipped with gas water heating and a gas range.
Rental history referenced for the two addresses includes one HUD-supported tenancy and one non-subsidized tenancy. The property is identified as a duplex within the multifamily and residential income property categories. Its configuration, existing utility connections, and basic exterior improvements provide a defined residential income asset for review.
Rental history referenced for the two addresses includes one HUD-supported tenancy and one non-subsidized tenancy. The property is identified as a duplex within the multifamily and residential income property categories. Its configuration, existing utility connections, and basic exterior improvements provide a defined residential income asset for review.
Key Highlights
- 1,790 SF duplex on a 0.17‑acre lot
- Windows have been replaced
- Covered porch included
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
$16,339
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
9.13%
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%
$326,780
$326.8K
Cap Rate 7%
$233,414
$233.4K
Cap Rate 9%
$181,544
$181.5K
Market Conditions
NOI Build-Up for 1,790 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
$24.7K $13.80/SF
− Vacancy
−$1.4K −$0.76/SF
EGI
$23.3K $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%
$326,780
Cap Rate 7%
$233,414
Cap Rate 9%
$181,544
Alternative Uses
Best Use
Multifamily LT 5
$233.4K
$204.2K – $272.3K
NOI $16,339 @ 7.0% cap · market cap 9.13%
Second Best
Apartment 5plus
$206.7K
$180.8K – $241.1K
NOI $14,467 @ 7.0% cap · market cap 8.08%
Theoretical Best
Office A
$325.2K
$284.5K – $379.4K
NOI $22,762 @ 7.0% cap · market cap 12.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
801
Businesses Nearby
Explore this area
Business Placement
Demographics for 72206, AR
22,974
Population
10,080
Households
2.3
Avg Household Size
43
Median Age
20%
College-Educated
87%
High-School Grad
111.6 sq mi
ZIP Area
206
Density / Sq Mi
$49,145
Median Household Income
$35,157
Median Earnings
$910
Median Rent
$132,100
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-unit residential property with replaced windows, a covered porch, and gas water heating.
Where is this duplex located?
The property is located at 813 Wright Avenue Little Rock, AR.
What is the asking price?
The asking price for this property is $179,000.
What are key features of this property?
This property features: 1,790 SF duplex on a 0.17‑acre lot; Windows have been replaced; Covered porch included
