Residential Income Condo with Private
New
For Sale
$155,000
1005 S German Ln, Conway, AR 72034
Residential, Traditional, Conway, AR
Property Size1,242 SF
Price / SF$124.80
Days on Market3
Property Features for 1005 S German Ln
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 1
Parking features
Carport
Patio and Porch features
Deck
Exterior features
Deck, Outside Storage Area
Fireplace
1
Appliances
Dishwasher, Disposal, Electric Range, Refrigerator-Stays
Subdivision
CARRIAGE COURTS
Lot features
Level
Directions
From I-40 take the Dave Ward exit and head west. Turn left on S. German Lane. Condos are the second set on the right.
Standard status
Active
APN
710-08538-005
Size
1,242 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
Apt 14/Bldg 3
Tax Annual Amount
1265
HOA Fee
$300 Monthly
Legal Description
Apt 14/Bldg 3
Amenities
community pool
separate storage unit
private deck
fireplace
Building Details
Year built
1985
Floors in Building
2
Flooring type
Vinyl
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:
Matty Ross
(501) 690-9015
Added: Oct 29
Last Checked: Oct 31 at 9:06AM
MLS# 26043650
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.
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Investment Insights
Based on property information with market context.
This 1,242-square-foot condominium has two bedrooms and two bathrooms, with all living areas on one level. Recent work includes interior paint, popcorn ceiling removal, a replacement shower in the primary bathroom, and updated plumbing fixtures. Vinyl plank flooring runs throughout. The living room has a fireplace, and the private deck can also be reached from the primary bedroom. The refrigerator, washer, and dryer convey with the unit.
The 1985-built property includes two assigned parking spaces, one covered, plus a separate storage unit. Residents have access to a community pool. The unit is subject to an owner-occupancy requirement and is located in Conway, near shopping and dining.
The 1985-built property includes two assigned parking spaces, one covered, plus a separate storage unit. Residents have access to a community pool. The unit is subject to an owner-occupancy requirement and is located in Conway, near shopping and dining.
Key Highlights
- 1,242‑square‑foot condo with two bedrooms and two bathrooms
- Interior paint, ceiling work, primary bath shower, and plumbing fixtures recently updated
- Private deck accessible from both the living room and primary bedroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$7,466
Cap Rate
4.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$149,320
$149.3K
Cap Rate 7%
$106,657
$106.7K
Cap Rate 9%
$82,956
$83.0K
Market Conditions
NOI Build-Up for 1,242 SF
Gross rent
$14.5K $11.64/SF
− Vacancy
−$882 −$0.71/SF
EGI
$13.6K $10.93/SF
− OpEx
−$6.1K −$4.92/SF
NOI
$7.5K $6.01/SF
Area
Faulkner County, AR
Vacancy
6.10%
Lease Rate
$11.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$149,320
Cap Rate 7%
$106,657
Cap Rate 9%
$82,956
Alternative Uses
Best Use
Apartment 5plus
$106.7K
$93.3K – $124.4K
NOI $7,466 @ 7.0% cap · market cap 4.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$283.3K
$247.9K – $330.5K
NOI $19,830 @ 7.0% cap · market cap 12.79%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
245
Businesses Nearby
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Business Placement
Demographics for 72034, AR
47,873
Population
22,523
Households
2.1
Avg Household Size
33
Median Age
44%
College-Educated
94%
High-School Grad
47.9 sq mi
ZIP Area
999
Density / Sq Mi
$61,675
Median Household Income
$40,511
Median Earnings
$993
Median Rent
$250,000
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The two-bedroom, two-bath unit includes updated interiors, two assigned parking spaces, and a separate storage unit.
Where is this residential income property located?
The property is located at 1005 S German Ln Conway, 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: 1,242‑square‑foot condo with two bedrooms and two bathrooms; Interior paint, ceiling work, primary bath shower, and plumbing fixtures recently updated; Private deck accessible from both the living room and primary bedroom
