Triplex With Additional
For Sale
$650,000
915 N Garfield St, Little Rock, AR 72207
Two-bedroom and one-bedroom units offer varied residential configurations across the property.
Property Size4,500 SF
Price / SF$144.44
Days on Market246
Property Features for 915 N Garfield St
General Information
Standard status
Active
Size
4,500 SF
Property subtype
Residential Income
Units
Unit Mix
3 x 2BR/1BA, 2 x 1BR/1BA
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$3,710
Listing Agency:
LPT Realty
(501) 658-7299
Listed By:
David Sutton · License #SA00077625
(501) 658-7299
Source:
Exprealty
Added: Dec 27, 2025
Changed: Aug 29
Last Checked: Aug 29 at 5:56PM
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 LPT Realty
Investment Insights
Based on property information with market context.
The property combines a triplex and a duplex on the same parcel, with both buildings using a shared parking area. The triplex contains two-bedroom, one-bathroom units, while the duplex provides one-bedroom, one-bathroom units. The property is currently operated as short-term rental housing, with units occupied on that basis. Showings require 48 hours’ notice, and vacant units will be coordinated in advance for access. Located at 915 N Garfield St in Little Rock, Arkansas, the property offers multiple residential units within a single holding.
Key Highlights
- Triplex includes two‑bedroom, one‑bathroom units
- Duplex includes one‑bedroom, one‑bathroom units
- Triplex and duplex share the same parking lot
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
$41,075
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
6.32%
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%
$821,500
$821.5K
Cap Rate 7%
$586,786
$586.8K
Cap Rate 9%
$456,389
$456.4K
Market Conditions
NOI Build-Up for 4,500 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
$62.1K $13.80/SF
− Vacancy
−$3.4K −$0.76/SF
EGI
$58.7K $13.04/SF
− OpEx
−$17.6K −$3.91/SF
NOI
$41.1K $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%
$821,500
Cap Rate 7%
$586,786
Cap Rate 9%
$456,389
Alternative Uses
Best Use
Multifamily LT 5
$586.8K
$513.4K – $684.6K
NOI $41,075 @ 7.0% cap · market cap 6.32%
Second Best
Apartment 5plus
$519.6K
$454.6K – $606.2K
NOI $36,371 @ 7.0% cap · market cap 5.60%
Theoretical Best
Office A
$817.5K
$715.3K – $953.7K
NOI $57,223 @ 7.0% cap · market cap 8.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
1,420
Businesses Nearby
Explore this area
Business Placement
Demographics for 72207, AR
11,036
Population
5,800
Households
1.9
Avg Household Size
40
Median Age
69%
College-Educated
98%
High-School Grad
3.8 sq mi
ZIP Area
2,904
Density / Sq Mi
$93,958
Median Household Income
$59,658
Median Earnings
$942
Median Rent
$384,800
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?
Triplex - Two-bedroom and one-bedroom units offer varied residential configurations across the property.
Where is this triplex located?
The property is located at 915 N Garfield St Little Rock, AR.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Triplex includes two‑bedroom, one‑bathroom units; Duplex includes one‑bedroom, one‑bathroom units; Triplex and duplex share the same parking lot
