10-Unit Colonial Apartment
For Sale
$1,050,000
3409 W Markham Street, Little Rock, AR 72205
Multi-Family, Colonial, Little Rock, AR
Property Size10,942 SF
Lot Size0.30 Acres
Price / SF$95.96
Days on Market139
Property Features for 3409 W Markham Street
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Interior features
Dryer Connection-Electric, Hot Water Heater-Electric, Fan - Ceiling
Appliances
Free-Standing Stove, Electric Range, Refrigerator-Stays, Free-Standing Stove, Electric Range, Refrigerator-Stays
Subdivision
Taylor CH
Lot features
Level, Extra Landscaping, In Subdivision, Vista View
Directions
Hwy 630 to UAMS Blvd. Exit (S. Pine St) Right, Right on Markham Street, Property on Right
Standard status
Active
Size
10,942 SF
Lot size
0.30 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Lots 1 & 2, Blk TAYLOR C H
Tax Annual Amount
9443
Legal Description
Lots 1 & 2, Blk TAYLOR C H
Building Details
Year built
1928
Floors in Building
2
Number of units
10
Flooring type
Wood
Roof type
Composition
Architectural style
Colonial
Listing Agency:
Exp Realty
(866) 720-5056
Listed By:
Emilia D'Auteuil
(501) 627-4625
Added: Apr 7
Changed: Aug 22
Last Checked: Aug 23 at 1:06PM
MLS# 26013777
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 10-unit Colonial apartment building contains 10,942 square feet on a 0.3-acre lot. The unit mix includes 2 one-bedroom apartments and 8 two-bedroom, 1-bath apartments. Built in 1928, the property includes wood flooring, electric water heating, ceiling fans, electric ranges, refrigerators, and electric dryer connections.
Recent work includes fresh interior paint and full replacement of the rear deck. Tenants are responsible for utilities, providing a defined operating arrangement for ownership. The building also features a composition roof and freestanding stove and refrigerator equipment in the apartments.
Recent work includes fresh interior paint and full replacement of the rear deck. Tenants are responsible for utilities, providing a defined operating arrangement for ownership. The building also features a composition roof and freestanding stove and refrigerator equipment in the apartments.
Key Highlights
- 10,942 square feet on a 0.3‑acre lot
- 10‑unit layout with 2 one‑bedroom and 8 two‑bedroom, 1‑bath apartments
- Recent fresh paint and full replacement of the rear deck
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
$88,437
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
8.42%
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%
$1,768,740
$1.8M
Cap Rate 7%
$1,263,386
$1.3M
Cap Rate 9%
$982,633
$982.6K
Market Conditions
NOI Build-Up for 10,942 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
$170.7K $15.60/SF
− Vacancy
−$9.9K −$0.90/SF
EGI
$160.8K $14.70/SF
− OpEx
−$72.4K −$6.61/SF
NOI
$88.4K $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%
$1,768,740
Cap Rate 7%
$1,263,386
Cap Rate 9%
$982,633
Alternative Uses
Best Use
Apartment 5plus
$1.26M
$1.11M – $1.47M
NOI $88,437 @ 7.0% cap · market cap 8.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.99M
$1.74M – $2.32M
NOI $139,141 @ 7.0% cap · market cap 13.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Residential units
Location Intelligence
Trade Area within ½ mile
2,127
Businesses Nearby
Explore this area
Business Placement
Demographics for 72205, AR
22,888
Population
12,187
Households
1.9
Avg Household Size
39
Median Age
54%
College-Educated
96%
High-School Grad
8.0 sq mi
ZIP Area
2,861
Density / Sq Mi
$62,888
Median Household Income
$50,948
Median Earnings
$1,110
Median Rent
$204,400
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?
Apartment building - Updated multifamily property with a mix of one- and two-bedroom apartments.
Where is this apartment building located?
The property is located at 3409 W Markham Street Little Rock, AR.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 10,942 square feet on a 0.3‑acre lot; 10‑unit layout with 2 one‑bedroom and 8 two‑bedroom, 1‑bath apartments; Recent fresh paint and full replacement of the rear deck
