Updated Two-Bedroom
For Sale
$300,000
523 Louisiana Street, Little Rock, AR 72201
Residential, Traditional, Little Rock, AR
Property Size1,667 SF
Price / SF$179.96
Days on Market11
Property Features for 523 Louisiana Street
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Basement, Bathroom 2, Bathroom 1, Bedroom 1
Interior features
Washer Connection, Washer-Stays, Dryer Connection-Electric, Dryer-Stays, Water Heater-Electric, Smoke Detector(s), Walk-In Closet(s), Walk-in Shower, Breakfast Bar, Kit Counter-Quartz
Appliances
Free-Standing Stove, Microwave, Electric Range, Dishwasher, Disposal, Refrigerator-Stays
Subdivision
Lafayette HPR
Lot features
Level
Directions
Corner of 6th and Louisiana. Enter door on Louisiana.
Standard status
Active
Size
1,667 SF
Taxes and HOA fees
Tax Description
Lot 6F
Tax Annual Amount
3070
HOA Fee
$600 Monthly
Legal Description
Lot 6F
Amenities
basement gym
sauna
Building Details
Year built
1925
Flooring type
Tile, Carpet, Vinyl
Roof type
Flat
Architectural style
Other
Listing Agency:
Charlotte John Company (Little Rock) · Century 21 Real Estate
(501) 664-5646
Listed By:
Gayle Doll
(501) 831-3391
Added: Sep 18
Changed: Sep 25
Last Checked: Sep 28 at 6:06AM
MLS# 26038079
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.
Located in the Lafayette Square Building, this 1,667-square-foot condominium offers two bedrooms and two full bathrooms within a historic 1925 building. The interior was updated in 2016 with new flooring, fresh paint, a renovated kitchen, and refreshed bathrooms. Quartz countertops, a blue tile backsplash, a farmhouse sink, oven, dishwasher, and refrigerator are included, along with the washer and dryer. The primary suite has a private bathroom with double sinks and a walk-in shower.
The property is at 523 Louisiana Street in downtown Little Rock, within walking distance of restaurants, entertainment, shows, the River Market, and other downtown destinations. Building amenities include a basement gym and sauna, while additional storage is available for rent. A gated dog-walking area and gated parking lot are located across the street; parking spaces may be purchased separately. The HOA fee covers grounds maintenance, water, sewer, and electricity. The HVAC system is approximately 6 years old, and the water heater is approximately 3 years old.
The property is at 523 Louisiana Street in downtown Little Rock, within walking distance of restaurants, entertainment, shows, the River Market, and other downtown destinations. Building amenities include a basement gym and sauna, while additional storage is available for rent. A gated dog-walking area and gated parking lot are located across the street; parking spaces may be purchased separately. The HOA fee covers grounds maintenance, water, sewer, and electricity. The HVAC system is approximately 6 years old, and the water heater is approximately 3 years old.
Key Highlights
- 1,667‑square‑foot condo with 2 bedrooms and 2 full bathrooms
- Historic Lafayette Square Building, constructed in 1925
- 2016 updates include flooring, paint, kitchen, and bathroom improvements
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
$13,473
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
4.49%
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%
$269,460
$269.5K
Cap Rate 7%
$192,471
$192.5K
Cap Rate 9%
$149,700
$149.7K
Market Conditions
NOI Build-Up for 1,667 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
$26.0K $15.60/SF
− Vacancy
−$1.5K −$0.90/SF
EGI
$24.5K $14.70/SF
− OpEx
−$11.0K −$6.61/SF
NOI
$13.5K $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%
$269,460
Cap Rate 7%
$192,471
Cap Rate 9%
$149,700
Alternative Uses
Best Use
Apartment 5plus
$192.5K
$168.4K – $224.6K
NOI $13,473 @ 7.0% cap · market cap 4.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$302.8K
$265.0K – $353.3K
NOI $21,198 @ 7.0% cap · market cap 7.07%
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
3,479
Businesses Nearby
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Business Placement
Demographics for 72201, AR
961
Population
628
Households
1.5
Avg Household Size
44
Median Age
78%
College-Educated
100%
High-School Grad
1.2 sq mi
ZIP Area
801
Density / Sq Mi
$112,045
Median Household Income
$71,188
Median Earnings
$1,344
Median Rent
$262,300
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Historic downtown condo with renovated interiors, retained appliances, and access to shared fitness and sauna amenities.
Where is this residential income property located?
The property is located at 523 Louisiana Street Little Rock, AR.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: 1,667‑square‑foot condo with 2 bedrooms and 2 full bathrooms; Historic Lafayette Square Building, constructed in 1925; 2016 updates include flooring, paint, kitchen, and bathroom improvements
