Residential Income Property with Screened
For Sale
Under Contract
$149,000
416 N Pierce St, Little Rock, AR 72205
Residential, Traditional, Little Rock, AR
Property Size1,156 SF
Price / SF$128.89
Days on Market63
Property Features for 416 N Pierce St
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
2
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1, Bathroom 1, Bedroom 2
Patio and Porch features
Porch
Exterior features
Screened Porch
Fireplace
1
Appliances
Built-In Stove, Dishwasher, Disposal
Subdivision
LINDEN COURT CONDO HPR
Lot features
Sloped
Directions
Driving North on University, Turn right on Lee, Right on Pierce. The Unit is on the bottom floor of the first Building on the right. Directly in front of the parking lot.
Standard status
Active Under Contract
APN
34L-104-01-015-00
Size
1,156 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
Unit 15
Tax Annual Amount
1933
HOA Fee
$350 Monthly
Legal Description
Unit 15
Amenities
screened porch
pool
Building Details
Year built
1984
Floors in Building
1
Flooring type
Wood, Tile
Roof type
Shingle
Architectural style
Other
Listing Agency:
LPT Realty · RE/MAX International
(501) 291-3841
Listed By:
Bekah Connell
(479) 787-0259
Added: Aug 4
Changed: Sep 22
Last Checked: Oct 5 at 6:06AM
MLS# 26031698
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 first-floor residential income property is a 1,156-square-foot condominium with two bedrooms and one bathroom. Interior features include tile and wood flooring, a fireplace, extensive cabinetry and closet storage, and a kitchen equipped with a built-in stove, dishwasher, and disposal. A screened porch adds covered outdoor space, while the shingle roof and 1984 construction complete the property profile.
The community pool is located steps from the front door, and parking is conveniently accessible. The property also offers access to shopping, dining, and community amenities in Little Rock.
The community pool is located steps from the front door, and parking is conveniently accessible. The property also offers access to shopping, dining, and community amenities in Little Rock.
Key Highlights
- 1,156‑square‑foot first‑floor condominium
- Two‑bedroom, one‑bathroom layout
- Screened porch for covered outdoor space
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
$9,343
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
6.27%
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%
$186,860
$186.9K
Cap Rate 7%
$133,471
$133.5K
Cap Rate 9%
$103,811
$103.8K
Market Conditions
NOI Build-Up for 1,156 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
$18.0K $15.60/SF
− Vacancy
−$1.0K −$0.90/SF
EGI
$17.0K $14.70/SF
− OpEx
−$7.6K −$6.61/SF
NOI
$9.3K $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%
$186,860
Cap Rate 7%
$133,471
Cap Rate 9%
$103,811
Alternative Uses
Best Use
Apartment 5plus
$133.5K
$116.8K – $155.7K
NOI $9,343 @ 7.0% cap · market cap 6.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$210.0K
$183.8K – $245.0K
NOI $14,700 @ 7.0% cap · market cap 9.87%
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
1,860
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
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Frequently Asked Questions
What type of property is this?
Residential income property - First-floor condo with a screened porch, community pool access, generous storage, and convenient parking.
Where is this residential income property located?
The property is located at 416 N Pierce St Little Rock, AR.
What is the asking price?
The asking price for this property is $149,000.
What are key features of this property?
This property features: 1,156‑square‑foot first‑floor condominium; Two‑bedroom, one‑bathroom layout; Screened porch for covered outdoor space
