Triplex and Duplex Multi-Unit
For Sale
$650,000
915 N Garfield Street, Little Rock, AR 72207
Multi-Family, Traditional, Little Rock, AR
Property Size4,500 SF
Lot Size0.59 Acres
Price / SF$144.44
Days on Market51
Property Features for 915 N Garfield Street
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Appliances
Free-Standing Stove, Free-Standing Stove
Subdivision
Pleasant Hill
Lot features
Level
Directions
From University Drive, turn West on H Street and then North on Garfield. Property on right.
Standard status
Active
Size
4,500 SF
Lot size
0.59 Acres
Taxes and HOA fees
Tax Description
Lot A, Block 16
Tax Annual Amount
3710
Legal Description
Lot A, Block 16
Building Details
Year built
1961
Floors in Building
1
Number of units
5
Flooring type
Wood, Vinyl
Roof type
Shingle
Architectural style
Other
Listing Agency:
LPT Realty · RE/MAX International
(501) 291-3841
Listed By:
David Sutton · License #SA00077625
(501) 658-7299
Added: Jul 1
Changed: Aug 19
Last Checked: Aug 20 at 9:06AM
MLS# 26026498
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 multi-unit property combines a triplex and a duplex on the same parcel. The triplex includes two-bedroom, one-bath units, and the duplex provides one-bedroom, one-bath units. The units are currently rented short term, and showings require 48 hours notice to allow access to the correct vacant units.
The property sits on a 0.59-acre lot with 4,500 square feet of building area and a shingle roof. Interior finishes noted include vinyl and wood flooring, and the appliances include free-standing stoves.
Built in 1961, this configuration offers a straightforward way to manage multiple unit types under one ownership, with the triplex and duplex sharing the same overall property footprint.
The property sits on a 0.59-acre lot with 4,500 square feet of building area and a shingle roof. Interior finishes noted include vinyl and wood flooring, and the appliances include free-standing stoves.
Built in 1961, this configuration offers a straightforward way to manage multiple unit types under one ownership, with the triplex and duplex sharing the same overall property footprint.
Key Highlights
- Triplex unit mix: two‑bedroom, one‑bath units
- Duplex unit mix: one‑bedroom, one‑bath units
- Currently rented short term; 48 hours notice required for showings
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
Multi-tenant
Tenancy
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 - Triplex and duplex on one lot with two-bedroom and one-bedroom unit layouts, currently operated as short-term rentals.
Where is this triplex located?
The property is located at 915 N Garfield Street 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 unit mix: two‑bedroom, one‑bath units; Duplex unit mix: one‑bedroom, one‑bath units; Currently rented short term; 48 hours notice required for showings
