Corner Residential Income
For Sale
$499,000
300 E Third #601, Little Rock, AR 72201
Residential, Contemporary, Little Rock, AR
Property Size1,863 SF
Price / SF$267.85
Days on Market8
Property Features for 300 E Third #601
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
2
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 2, Bedroom 2, Laundry Room, Bathroom 3, Bathroom 1, Bedroom 1
Parking features
Assigned
Patio and Porch features
Patio
Interior features
Washer Connection, Washer-Stays, Dryer Connection-Electric, Dryer-Stays, Water Heater-Electric, Walk-In Closet(s), Wired for Highspeed Inter
Exterior features
Patio, Inground Pool, Tennis Court, Dog Run, Enclosed Pool
Appliances
Built-In Stove, Microwave, Gas Range, Dishwasher, Disposal, Pantry, Refrigerator-Stays, Ice Maker Connection
Subdivision
300 THIRD HPR
Lot features
Level
Directions
East on Cantrell to downtown. Left on Third Street, building is on the corner of Third and Cumberland. Condo is located on the Northwest corner of the 6th floor.
Standard status
Active
Size
1,863 SF
Taxes and HOA fees
Tax Description
300 Third HPR, 601
Tax Annual Amount
5899
HOA Fee
$941 Monthly
Legal Description
300 Third HPR, 601
Building Details
Year built
2007
Floors in Building
1
Flooring type
Wood, Tile
Roof type
Flat
Architectural style
Contemporary
Additional Structures
Kennel/Dog Run
Listing Agency:
Janet Jones Company
(501) 224-3201
Listed By:
Sarah Duke
(501) 539-1528
Added: Sep 28
Last Checked: Oct 5 at 2:06AM
MLS# 26039278
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.
Set on the sixth floor of 300 Third Tower, this 1,863-square-foot corner condominium has two bedrooms and an open living and dining area. Window walls bring natural light into the main space, while dark wood floors and ample storage extend throughout. Each bedroom has an ensuite bathroom, and the primary bedroom opens to a private balcony. Two dedicated parking spaces in the covered, secured deck convey with the unit.
The unit offers views of the downtown skyline and River Market. The property’s listed features include a pool, tennis court, dog run, and patio. Built in 2007, the condominium also has a walk-in closet, washer and dryer, and kitchen appliances that stay.
The unit offers views of the downtown skyline and River Market. The property’s listed features include a pool, tennis court, dog run, and patio. Built in 2007, the condominium also has a walk-in closet, washer and dryer, and kitchen appliances that stay.
Key Highlights
- 1,863‑square‑foot corner condominium on the sixth floor of 300 Third Tower
- Two bedrooms, each with an ensuite bathroom
- Primary bedroom opens to a private balcony
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
$15,057
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
3.02%
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%
$301,140
$301.1K
Cap Rate 7%
$215,100
$215.1K
Cap Rate 9%
$167,300
$167.3K
Market Conditions
NOI Build-Up for 1,863 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
$29.1K $15.60/SF
− Vacancy
−$1.7K −$0.90/SF
EGI
$27.4K $14.70/SF
− OpEx
−$12.3K −$6.61/SF
NOI
$15.1K $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%
$301,140
Cap Rate 7%
$215,100
Cap Rate 9%
$167,300
Alternative Uses
Best Use
Apartment 5plus
$215.1K
$188.2K – $251.0K
NOI $15,057 @ 7.0% cap · market cap 3.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$338.4K
$296.1K – $394.8K
NOI $23,690 @ 7.0% cap · market cap 4.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
3,079
Businesses Nearby
Explore this area
Business Placement
Demographics for 72201, AR
961
Population
628
Households
1.5
Avg Household Size
44
Median Age
78%
College-Educated
100%
High-School Grad
1.2 sq mi
ZIP Area
801
Density / Sq Mi
$112,045
Median Household Income
$71,188
Median Earnings
$1,344
Median Rent
$262,300
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The sixth-floor condominium has two bedrooms and two dedicated spaces in a covered, secured parking deck.
Where is this residential income property located?
The property is located at 300 E Third #601 Little Rock, AR.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 1,863‑square‑foot corner condominium on the sixth floor of 300 Third Tower; Two bedrooms, each with an ensuite bathroom; Primary bedroom opens to a private balcony
