Residential Income Property
For Sale
Under Contract
$124,750
1201 N Pierce #46, Little Rock, AR 72207
CONDOS - Little Rock, AR
Property Size1,062 SF
Price / SF$117.47
Days on Market28
Property Features for 1201 N Pierce #46
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Laundry Room, Bathroom 1, Bedroom 2, Bedroom 1, Bathroom 2
Parking features
Assigned
Patio and Porch features
Deck
Interior features
Washer-Stays, Dryer-Stays, Smoke Detector(s), Window Treatments, Ceiling Fan(s), Kit Counter-Granite Tiles
Exterior features
Deck, Guttering, Pool - unspecified
Fireplace
1
Appliances
Free-Standing Stove, Electric Range, Dishwasher, Disposal, Refrigerator-Stays
Subdivision
FOREST HILL COND
Lot features
Level
Directions
Cantrell to N Pierce to Forest Hill Condos
Standard status
Active Under Contract
Size
1,062 SF
Taxes and HOA fees
Tax Description
Unit 46
Tax Annual Amount
1568
HOA Fee
$300 Monthly
Legal Description
Unit 46
Amenities
pool
Building Details
Year built
1979
Flooring type
Tile, Carpet, Laminate
Roof type
Composition
Architectural style
Other
Listing Agency:
Arkansas Property Management & Real Estate
(501) 851-7771
Listed By:
Amanda Galbraith
(501) 804-9942
Added: Jul 17
Changed: Aug 3
Last Checked: Aug 13 at 3:06AM
MLS# 26028893
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 upstairs two-bedroom, two-bath condo offers an open, light-filled layout with two walls of sliding glass that extend to covered patios. The living room includes a wood-burning fireplace, and the galley kitchen features a pass-through to the dining area. Interior appointments include window treatments, ceiling fans, and multiple appliances, including a free-standing stove, electric range, dishwasher, disposal, and refrigerator. The unit is supported with in-home laundry, smoke detectors, and staying washer and dryer.
Outside, the property includes deck and guttering features. Updates include newer HVAC and newer rebuilt decks, and the community includes a pool tucked into the surrounding landscape. Parking is assigned, with the unit positioned within the Little Rock address at 1201 N Pierce #46 in Pulaski County.
Built in 1979 with a composition roof, the condo combines practical features and low-maintenance living for residents seeking an established setting close to daily destinations.
Outside, the property includes deck and guttering features. Updates include newer HVAC and newer rebuilt decks, and the community includes a pool tucked into the surrounding landscape. Parking is assigned, with the unit positioned within the Little Rock address at 1201 N Pierce #46 in Pulaski County.
Built in 1979 with a composition roof, the condo combines practical features and low-maintenance living for residents seeking an established setting close to daily destinations.
Key Highlights
- 1,062 square feet
- Built in 1979 with composition roof
- Two covered patios with sliding glass
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
$8,583
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
6.88%
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%
$171,660
$171.7K
Cap Rate 7%
$122,614
$122.6K
Cap Rate 9%
$95,367
$95.4K
Market Conditions
NOI Build-Up for 1,062 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
$16.6K $15.60/SF
− Vacancy
−$961 −$0.90/SF
EGI
$15.6K $14.70/SF
− OpEx
−$7.0K −$6.61/SF
NOI
$8.6K $8.08/SF
Area
Little Rock, AR
Vacancy
5.80%
Lease Rate
$15.60 /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%
$171,660
Cap Rate 7%
$122,614
Cap Rate 9%
$95,367
Alternative Uses
Best Use
Apartment 5plus
$122.6K
$107.3K – $143.1K
NOI $8,583 @ 7.0% cap · market cap 6.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$192.9K
$168.8K – $225.1K
NOI $13,505 @ 7.0% cap · market cap 10.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,367
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Upstairs two-bedroom, two-bath condo with covered patios, sliding glass, wood-burning fireplace, and assigned parking.
Where is this residential income property located?
The property is located at 1201 N Pierce #46 Little Rock, AR.
What is the asking price?
The asking price for this property is $124,750.
What are key features of this property?
This property features: 1,062 square feet; Built in 1979 with composition roof; Two covered patios with sliding glass
