Updated Residential Income
For Sale
$135,000
1201 N Pierce #54, Little Rock, AR 72207
Residential, Traditional, Little Rock, AR
Property Size1,062 SF
Price / SF$127.12
Days on Market24
Property Features for 1201 N Pierce #54
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 2, Laundry Room
Parking features
Assigned
Patio and Porch features
Deck
Interior features
Washer Connection, Dryer Connection-Electric, Smoke Detector(s), Walk-in Shower, Video Surveillance, 3/4 Bathroom
Exterior features
Deck, Outside Storage Area, Inground Pool, Guttering
Fireplace
1
Appliances
Electric Range, Dishwasher, Disposal, Ice Maker Connection
Subdivision
Forest Hills HPR
Directions
University to east on Evergreen then left on N Pierce
Standard status
Active
Size
1,062 SF
Taxes and HOA fees
Tax Description
Apt 54
Tax Annual Amount
1881
HOA Fee
$250 Monthly
Legal Description
Apt 54
Amenities
pool
picnic area
Building Details
Year built
1979
Floors in Building
1
Flooring type
Tile, Carpet
Roof type
Composition
Architectural style
Other
Additional Structures
Storage
Listing Agency:
Janet Jones Company
(501) 224-3201
Listed By:
Catherine Langley
(501) 230-3287
Added: Sep 11
Changed: Sep 23
Last Checked: Oct 4 at 9:06PM
MLS# 26037143
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 upper-level residential income property is a 1,062-square-foot, two-bedroom, two-bath condominium built in 1979. Recent improvements include fresh paint and updated bathrooms. The layout combines a galley kitchen with a spacious family room, where abundant natural light and a gas-log fireplace create a comfortable central living area. The primary bedroom includes a private bath, while both bedrooms offer generous proportions. Tile and carpet flooring, washer and dryer connections, an electric range, dishwasher, disposal, and ice maker connection are included.
Two decks extend the living space, with one providing access to an exterior storage closet. Community amenities include an inground pool and picnic area, while assigned parking is provided. Condo fees cover exterior maintenance. The property is located at 1201 N Pierce #54 in Little Rock, near Heights restaurants and shops as well as Midtown medical facilities and other amenities.
Two decks extend the living space, with one providing access to an exterior storage closet. Community amenities include an inground pool and picnic area, while assigned parking is provided. Condo fees cover exterior maintenance. The property is located at 1201 N Pierce #54 in Little Rock, near Heights restaurants and shops as well as Midtown medical facilities and other amenities.
Key Highlights
- 1,062 SF upper‑level condominium with 2 bedrooms and 2 bathrooms
- Updated bathrooms and fresh interior paint
- Two decks, including one with an exterior storage closet
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
$8,583
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
6.36%
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%
$171,660
$171.7K
Cap Rate 7%
$122,614
$122.6K
Cap Rate 9%
$95,367
$95.4K
Market Conditions
NOI Build-Up for 1,062 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
$16.6K $15.60/SF
− Vacancy
−$961 −$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%
$171,660
Cap Rate 7%
$122,614
Cap Rate 9%
$95,367
Alternative Uses
Best Use
Apartment 5plus
$122.6K
$107.3K – $143.1K
NOI $8,583 @ 7.0% cap · market cap 6.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$192.9K
$168.8K – $225.1K
NOI $13,505 @ 7.0% cap · market cap 10.00%
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
1,045
Businesses Nearby
Explore this area
Business Placement
Demographics for 72207, AR
11,036
Population
5,800
Households
1.9
Avg Household Size
40
Median Age
69%
College-Educated
98%
High-School Grad
3.8 sq mi
ZIP Area
2,904
Density / Sq Mi
$93,958
Median Household Income
$59,658
Median Earnings
$942
Median Rent
$384,800
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Upper-level condo with refreshed baths, two outdoor decks, and community pool access near Heights shops and restaurants.
Where is this residential income property located?
The property is located at 1201 N Pierce #54 Little Rock, AR.
What is the asking price?
The asking price for this property is $135,000.
What are key features of this property?
This property features: 1,062 SF upper‑level condominium with 2 bedrooms and 2 bathrooms; Updated bathrooms and fresh interior paint; Two decks, including one with an exterior storage closet
