Residential Income Property with Trex
For Sale
Under Contract
$219,900
3901 Cedar Hill #23 Road, Little Rock, AR 72202
CONDOS - Little Rock, AR
Property Size1,303 SF
Price / SF$168.76
Days on Market119
Property Features for 3901 Cedar Hill #23 Road
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
1
Bathrooms
1
Full bathrooms
1
Rooms
Den, Bathroom 1, Bedroom 1
Parking features
Open
Security features
Security System
Patio and Porch features
Patio
Interior features
Washer Connection, Washer-Stays, Dryer Connection-Electric, Dryer-Stays, Water Heater-Electric, Security System, Window Treatments, Walk-In Closet(s), Walk-in Shower, Kitchen Counter-Marble
Exterior features
Patio
Fireplace
1
Appliances
Built-In Stove, Microwave, Electric Range, Dishwasher, Disposal, Pantry, Refrigerator-Stays
Subdivision
Metes & Bounds
Lot features
Level
Directions
From Kavanaugh turn N on Cedar. At the stop sign turn L on Cedar Hill. Follow hill down, pass first entrance & turn onto second (non gated)entrance. From Cantrell head E to Cedar Hill. Pass Allsopp Park and turn L. Unit23 is next to last townhome on R.
Standard status
Active Under Contract
Size
1,303 SF
Taxes and HOA fees
Tax Year
2024
Tax Description
32-2N-12W
Tax Annual Amount
2677
HOA Fee
$654 Monthly
Legal Description
32-2N-12W
Amenities
gas fireplace
deck
alarm
salt water pool
clubhouse
Building Details
Year built
1973
Floors in Building
2
Flooring type
Wood, Carpet
Roof type
Flat
Architectural style
Other
Listing Agency:
CBRPM Group · Coldwell Banker Real Estate
(501) 664-1775
Listed By:
Anna Kaye Dover
(501) 993-1834
Added: Apr 24
Changed: Aug 5
Last Checked: Aug 20 at 6:06PM
MLS# 26016446
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.
Condo unit in a Hillcrest setting offering an open floor plan with tall ceilings and a gas fireplace in the living room. The kitchen features honed marble countertops, stainless appliances, and an ample pantry with electrical for appliances, and a den that can serve as a second living area or an office. The primary bedroom includes a walk-in closet and a wall of cabinets, and the remodeled bathroom includes a walk-in shower and marble counters. Built in 1973, the home includes wood and carpet flooring, a flat roof, and a security system, with interior comforts supported by electric water heater and window treatments. Appliances and select items convey, including the refrigerator, washer/dryer, and microwave.
Outdoor living is highlighted by a private patio and a 7x15 Trex deck for entertaining. HOA fees cover water, gas, sewer, trash, recycling, exterior maintenance (including roof), exterior insurance, termite contract, landscaping, and salt water pool access and the clubhouse. An alarm system is included, and showings are appointment only.
Outdoor living is highlighted by a private patio and a 7x15 Trex deck for entertaining. HOA fees cover water, gas, sewer, trash, recycling, exterior maintenance (including roof), exterior insurance, termite contract, landscaping, and salt water pool access and the clubhouse. An alarm system is included, and showings are appointment only.
Key Highlights
- 1,303 SF residential income condo unit built in 1973
- Open floor plan with gas fireplace and tall ceilings
- 7x15 Trex deck plus a patio for outdoor entertaining
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
$10,531
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
4.79%
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%
$210,620
$210.6K
Cap Rate 7%
$150,443
$150.4K
Cap Rate 9%
$117,011
$117.0K
Market Conditions
NOI Build-Up for 1,303 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
$20.3K $15.60/SF
− Vacancy
−$1.2K −$0.90/SF
EGI
$19.1K $14.70/SF
− OpEx
−$8.6K −$6.61/SF
NOI
$10.5K $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%
$210,620
Cap Rate 7%
$150,443
Cap Rate 9%
$117,011
Alternative Uses
Best Use
Apartment 5plus
$150.4K
$131.6K – $175.5K
NOI $10,531 @ 7.0% cap · market cap 4.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$236.7K
$207.1K – $276.2K
NOI $16,569 @ 7.0% cap · market cap 7.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
819
Businesses Nearby
Explore this area
Business Placement
Demographics for 72202, AR
10,340
Population
7,403
Households
1.4
Avg Household Size
37
Median Age
49%
College-Educated
93%
High-School Grad
7.1 sq mi
ZIP Area
1,456
Density / Sq Mi
$54,167
Median Household Income
$42,981
Median Earnings
$1,040
Median Rent
$246,900
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Condo living in Little Rock with an outdoor Trex deck and an HOA that covers multiple utilities and exterior maintenance.
Where is this residential income property located?
The property is located at 3901 Cedar Hill #23 Road Little Rock, AR.
What is the asking price?
The asking price for this property is $219,900.
What are key features of this property?
This property features: 1,303 SF residential income condo unit built in 1973; Open floor plan with gas fireplace and tall ceilings; 7x15 Trex deck plus a patio for outdoor entertaining
