Lower-Level Residential Income Condo with Pool
For Sale
Under Contract
$155,000
416 N Pierce Street, Little Rock, AR 72205
CONDOS - Little Rock, AR
Property Size1,084 SF
Price / SF$142.99
Days on Market35
Property Features for 416 N Pierce Street
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
1
Half bathrooms
1
Rooms
Bathroom 1, Bedroom 2, Bedroom 1, Bathroom 2, Great Room
Parking features
Assigned
Patio and Porch features
Patio, Porch
Interior features
Wet Bar, Washer Connection, Dryer Connection-Electric, Smoke Detector(s), Window Treatments, Walk-In Closet(s), Built-Ins, Ceiling Fan(s), Walk-in Shower, Kit Counter- Granite Slab
Exterior features
Patio, Porch, Outside Storage Area, Lawn Sprinkler, Enclosed Pool, Covered Patio
Fireplace
1
Appliances
Built-In Stove, Microwave, Gas Range, Dishwasher, Disposal
Subdivision
LINDEN COURT CONDO HPR
Lot features
Level, Extra Landscaping, In Subdivision
Directions
On corner of Lee and Pierce
Standard status
Active Under Contract
Size
1,084 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
Lot 34/ Block 0
Tax Annual Amount
1220
HOA Fee
$360 Monthly
Legal Description
Lot 34/ Block 0
Amenities
assigned parking
community swimming pool
wood burning fireplace
wet bar
laundry closet
enclosed back porch
storage room
Building Details
Year built
1984
Floors in Building
1
Flooring type
Vinyl, Tile
Roof type
Composition
Architectural style
Other
Additional Structures
Storage
Listing Agency:
Charlotte John Company (Little Rock) · Century 21 Real Estate
(501) 664-5646
Listed By:
Jill Childers
(501) 626-8919
Added: Jul 11
Changed: Aug 10
Last Checked: Aug 14 at 4:06PM
MLS# 26028055
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.
Lower-level Phase II condo that combines low-maintenance living with an entertainer-friendly interior. The home features freshly updated finishes with all-new flooring and paint throughout. A spacious living and dining area is filled with natural light and includes a cozy wood burning fireplace with a gas starter, a wet bar, and a built-in setting. The kitchen is equipped with granite countertops, a gas range, and plenty of storage. The primary suite offers a walk-in closet, bathroom with double vanity, walk-in shower, and oversized soaking tub, along with a conveniently located laundry closet. A guest bedroom includes its own en suite half bath. Additional comfort and function come from an enclosed back porch with a large storage room and direct access outside.
The condo includes assigned parking just steps from the front door. The community swimming pool is also only steps away, adding an everyday amenity to the layout. Exterior features include an enclosed pool area, patio/porch spaces, outside storage, and a lawn sprinkler system. Built in 1984, the property has a composition roof and tile and vinyl flooring.
Interior appointments include wet bar, built-ins, ceiling fans, window treatments, walk-in shower, and a walk-in closet, along with appliances such as a built-in stove, microwave, gas range, dishwasher, and disposal.
The condo includes assigned parking just steps from the front door. The community swimming pool is also only steps away, adding an everyday amenity to the layout. Exterior features include an enclosed pool area, patio/porch spaces, outside storage, and a lawn sprinkler system. Built in 1984, the property has a composition roof and tile and vinyl flooring.
Interior appointments include wet bar, built-ins, ceiling fans, window treatments, walk-in shower, and a walk-in closet, along with appliances such as a built-in stove, microwave, gas range, dishwasher, and disposal.
Key Highlights
- Lower‑level Phase II condo with refreshed interior: all‑new flooring and paint
- Assigned parking just steps from the front door
- Community swimming pool only steps away
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
$8,761
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
5.65%
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%
$175,220
$175.2K
Cap Rate 7%
$125,157
$125.2K
Cap Rate 9%
$97,344
$97.3K
Market Conditions
NOI Build-Up for 1,084 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
$16.9K $15.60/SF
− Vacancy
−$981 −$0.90/SF
EGI
$15.9K $14.70/SF
− OpEx
−$7.2K −$6.61/SF
NOI
$8.8K $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%
$175,220
Cap Rate 7%
$125,157
Cap Rate 9%
$97,344
Alternative Uses
Best Use
Apartment 5plus
$125.2K
$109.5K – $146.0K
NOI $8,761 @ 7.0% cap · market cap 5.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$196.9K
$172.3K – $229.7K
NOI $13,784 @ 7.0% cap · market cap 8.89%
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
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Lower-level condo offers assigned parking and close proximity to the community swimming pool, plus an enclosed back porch.
Where is this residential income property located?
The property is located at 416 N Pierce Street Little Rock, AR.
What is the asking price?
The asking price for this property is $155,000.
What are key features of this property?
This property features: Lower‑level Phase II condo with refreshed interior: all‑new flooring and paint; Assigned parking just steps from the front door; Community swimming pool only steps away
