Updated Duplex with
For Sale
$139,900
902 & 904 W 45th Street, North Little Rock, AR 72118
Multi-Family, Traditional, North Little Rock, AR
Property Size1,666 SF
Lot Size0.16 Acres
Price / SF$83.97
Days on Market21
Property Features for 902 & 904 W 45th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 2, Bathroom 1, Bedroom 4, Bedroom 1, Bedroom 3
Parking features
Carport
Appliances
Free-Standing Stove, Free-Standing Stove
Subdivision
Holeads
Lot features
Level
Directions
42nd Street, to Marion to W. 45th St.
Standard status
Active
Size
1,666 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Description
Lot 5, Block 9
Tax Annual Amount
1405
Legal Description
Lot 5, Block 9
Building Details
Year built
1963
Floors in Building
1
Number of units
2
Flooring type
Carpet - Partial, Vinyl
Roof type
Composition
Architectural style
Other
Listing Agency:
PorchLight Realty - NLR
(501) 476-3994
Listed By:
Alicia Averitt Haley
(501) 831-4009
Added: Sep 7
Changed: Sep 15
Last Checked: Sep 27 at 3:06PM
MLS# 26036480
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 North Little Rock duplex contains two residential units within 1,666 square feet. Each unit is arranged with two bedrooms and one bathroom, creating a consistent layout across the property. Interior improvements are noted, with vinyl flooring and partial carpeting. A composition roof was replaced in 2023, and the building dates to 1963.
The property occupies 0.16 acres at 902 & 904 W. 45th Street in North Little Rock, Arkansas. Carport parking is included, and the units are equipped with free-standing stoves. The duplex configuration, separate living spaces, and established residential improvements provide a straightforward multifamily property profile.
The property occupies 0.16 acres at 902 & 904 W. 45th Street in North Little Rock, Arkansas. Carport parking is included, and the units are equipped with free-standing stoves. The duplex configuration, separate living spaces, and established residential improvements provide a straightforward multifamily property profile.
Key Highlights
- Duplex with two 2‑bedroom, 1‑bath units
- 1,666 square feet on a 0.16‑acre lot
- Composition roof replaced in 2023
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
$12,533
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
8.96%
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%
$250,660
$250.7K
Cap Rate 7%
$179,043
$179.0K
Cap Rate 9%
$139,256
$139.3K
Market Conditions
NOI Build-Up for 1,666 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
$24.2K $14.52/SF
− Vacancy
−$1.4K −$0.84/SF
EGI
$22.8K $13.68/SF
− OpEx
−$10.3K −$6.16/SF
NOI
$12.5K $7.52/SF
Area
Pulaski County, AR
Vacancy
5.80%
Lease Rate
$14.52 /SF/Yr
Expense Ratio
45.00%
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%
$250,660
Cap Rate 7%
$179,043
Cap Rate 9%
$139,256
Alternative Uses
Best Use
Multifamily LT 5
$200.0K
$175.0K – $233.4K
NOI $14,001 @ 7.0% cap · market cap 10.01%
Second Best
Apartment 5plus
$179.0K
$156.7K – $208.9K
NOI $12,533 @ 7.0% cap · market cap 8.96%
Theoretical Best
Specialty Retail
$317.8K
$278.1K – $370.8K
NOI $22,245 @ 7.0% cap · market cap 15.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
391
Businesses Nearby
Explore this area
Business Placement
Demographics for 72118, AR
22,582
Population
10,823
Households
2.1
Avg Household Size
37
Median Age
20%
College-Educated
88%
High-School Grad
27.6 sq mi
ZIP Area
818
Density / Sq Mi
$47,266
Median Household Income
$35,608
Median Earnings
$978
Median Rent
$115,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer a practical configuration with separate bedrooms, bathrooms, and shared carport parking.
Where is this duplex located?
The property is located at 902 & 904 W 45th Street North Little Rock, AR.
What is the asking price?
The asking price for this property is $139,900.
What are key features of this property?
This property features: Duplex with two 2‑bedroom, 1‑bath units; 1,666 square feet on a 0.16‑acre lot; Composition roof replaced in 2023
