Ground-Level Residential Income
For Sale
Under Contract
$150,000
1201 N Pierce Street, Little Rock, AR 72207
Residential, Townhouse, Little Rock, AR
Property Size1,062 SF
Price / SF$141.24
Days on Market25
Property Features for 1201 N Pierce Street
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 2, Bathroom 2, Great Room, Bathroom 1
Parking features
Assigned
Patio and Porch features
Deck
Interior features
Washer Connection, Dryer Connection-Electric, Water Heater-Electric, Smoke Detector(s), Balcony/Loft, Ceiling Fan(s), Walk-in Shower, Kit Counter-Quartz
Exterior features
Deck, Outside Storage Area, Guttering
Fireplace
1
Appliances
Free-Standing Stove, Microwave, Electric Range, Dishwasher, Disposal, Ice Maker Connection
Subdivision
FOREST HILL COND
Lot features
Wooded, In Subdivision
Directions
Cantrell or Evergreen to N Pierce. Turn into 1201 N Pierce Forest Hill where sign says units #1-48. Townhome is third building on right. #9 is ground level on lower right.
Standard status
Active Under Contract
Size
1,062 SF
Taxes and HOA fees
Tax Description
Lot 9/APT
Tax Annual Amount
1884
HOA Fee
$300 Monthly
Legal Description
Lot 9/APT
Amenities
balconies
fireplace
eat-in area
Building Details
Year built
1979
Floors in Building
1
Flooring type
Tile, Vinyl
Roof type
Shingle
Architectural style
Other
Additional Structures
Storage
Listing Agency:
Charlotte John Company (Little Rock) · Century 21 Real Estate
(501) 664-5646
Listed By:
Jennifer Cook
(501) 350-6101
Added: Sep 11
Changed: Sep 16
Last Checked: Oct 5 at 12:06AM
MLS# 26037088
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 1,062-square-foot, ground-level condominium provides one-level living with two bedrooms, two full bathrooms, ample storage, and two private balconies. The interior includes a large living area with a wood-burning fireplace, natural light, an eat-in area, quartz kitchen counters, stainless appliances, vinyl and tile flooring, and washer and dryer connections. Assigned parking and an outside storage area are also included.
Interior improvements completed in 2026 include luxury vinyl flooring, kitchen cabinets, countertops, LED lighting, interior paint, and a built-in microwave. Bathroom enhancements include quartz countertops, tiled tub and shower surrounds, glass doors, and LED mirrors. The building roof, HVAC system, water heater, stove, dishwasher, and front-eave gutters were completed or added in 2025. Built in 1979, the property is located in Midtown Little Rock with access to shopping and dining.
Interior improvements completed in 2026 include luxury vinyl flooring, kitchen cabinets, countertops, LED lighting, interior paint, and a built-in microwave. Bathroom enhancements include quartz countertops, tiled tub and shower surrounds, glass doors, and LED mirrors. The building roof, HVAC system, water heater, stove, dishwasher, and front-eave gutters were completed or added in 2025. Built in 1979, the property is located in Midtown Little Rock with access to shopping and dining.
Key Highlights
- 1,062‑square‑foot ground‑level condo with 2 bedrooms and 2 full baths
- Two private balconies, assigned parking, and an outside storage area
- 2026 updates include luxury vinyl flooring, cabinets, countertops, LED lighting, paint, and a built‑in microwave
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
5.72%
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 5.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$192.9K
$168.8K – $225.1K
NOI $13,505 @ 7.0% cap · market cap 9.00%
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 - One-level condo with two bedrooms, two full baths, quartz finishes, generous storage, and private outdoor space.
Where is this residential income property located?
The property is located at 1201 N Pierce Street Little Rock, AR.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: 1,062‑square‑foot ground‑level condo with 2 bedrooms and 2 full baths; Two private balconies, assigned parking, and an outside storage area; 2026 updates include luxury vinyl flooring, cabinets, countertops, LED lighting, paint, and a built‑in microwave
