Updated Residential Income
For Sale
Under Contract
$94,000
508 Green Mountain Circle, Little Rock, AR 72211
Residential, Traditional, Little Rock, AR
Property Size1,060 SF
Price / SF$88.68
Days on Market112
Property Features for 508 Green Mountain Circle
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 2, Bedroom 1, Bathroom 2
Parking features
Assigned
Patio and Porch features
Patio
Interior features
Washer-Stays, Dryer Connection-Electric, Dryer-Stays
Exterior features
Patio, Outside Storage Area
Fireplace
1
Appliances
Electric Range, Dishwasher, Refrigerator-Stays
Subdivision
Green Mountain Condo HPR
Lot features
Zero Lot Line
Directions
From N Shackleford turn L onto Mara Lynn. Turn R onto Green Mountain Drive and take first L onto Green Mountain Circle. Unit will be on the left, 2nd floor.
Standard status
Active Under Contract
Size
1,060 SF
Taxes and HOA fees
Tax Description
Lot 78 Green Mountain Condo
Tax Annual Amount
920
HOA Fee
$375 Monthly
Legal Description
Lot 78 Green Mountain Condo
Building Details
Year built
1981
Floors in Building
1
Flooring type
Vinyl, Carpet
Roof type
Composition
Architectural style
Other
Additional Structures
Storage
Listing Agency:
LPT Realty Conway · RE/MAX International
(501) 291-3841
Listed By:
Cliff Wekkin · License #SA00000000
(501) 339-4506
Added: Jun 16
Changed: Oct 1
Last Checked: Oct 5 at 5:06AM
MLS# 26024328
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 1,060-square-foot condominium has two bedrooms and two bathrooms, with remodeled kitchen and bath spaces, fresh paint, and LVP flooring. Washer, dryer, and refrigerator stay with the unit. A fireplace and multiple balconies add indoor and outdoor living areas; one balcony faces a wooded view. The property also includes assigned parking and an outside storage area.
The condo is in West Little Rock, with shopping, dining, entertainment, and interstate access described as nearby. Shared fees cover the pool, exterior maintenance other than balconies, water, trash, grounds care, and termite service. The buyer must carry renter’s insurance for personal belongings and the unit’s interior.
The condo is in West Little Rock, with shopping, dining, entertainment, and interstate access described as nearby. Shared fees cover the pool, exterior maintenance other than balconies, water, trash, grounds care, and termite service. The buyer must carry renter’s insurance for personal belongings and the unit’s interior.
Key Highlights
- 1,060‑square‑foot condo with two bedrooms and two bathrooms
- Kitchen and both bathrooms have been remodeled
- Washer, dryer, and refrigerator stay with the unit
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
$8,567
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
9.11%
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%
$171,340
$171.3K
Cap Rate 7%
$122,386
$122.4K
Cap Rate 9%
$95,189
$95.2K
Market Conditions
NOI Build-Up for 1,060 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
$16.5K $15.60/SF
− Vacancy
−$959 −$0.90/SF
EGI
$15.6K $14.70/SF
− OpEx
−$7.0K −$6.61/SF
NOI
$8.6K $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%
$171,340
Cap Rate 7%
$122,386
Cap Rate 9%
$95,189
Alternative Uses
Best Use
Apartment 5plus
$122.4K
$107.1K – $142.8K
NOI $8,567 @ 7.0% cap · market cap 9.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$192.6K
$168.5K – $224.7K
NOI $13,479 @ 7.0% cap · market cap 14.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,267
Businesses Nearby
Explore this area
Business Placement
Demographics for 72211, AR
24,338
Population
12,009
Households
2
Avg Household Size
35
Median Age
56%
College-Educated
97%
High-School Grad
8.3 sq mi
ZIP Area
2,932
Density / Sq Mi
$80,808
Median Household Income
$53,527
Median Earnings
$1,142
Median Rent
$257,800
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Renovated kitchens and baths, in-unit laundry appliances, and multiple balconies complement this condominium.
Where is this residential income property located?
The property is located at 508 Green Mountain Circle Little Rock, AR.
What is the asking price?
The asking price for this property is $94,000.
What are key features of this property?
This property features: 1,060‑square‑foot condo with two bedrooms and two bathrooms; Kitchen and both bathrooms have been remodeled; Washer, dryer, and refrigerator stay with the unit
