Two-Bedroom
For Sale
$179,900
2200 Andover Ct #204, Little Rock, AR 72227
Two upstairs bedrooms each have a private full bath, with a half bath on the main level.
Property Size1,408 SF
Price / SF$127.77
Days on Market58
Property Features for 2200 Andover Ct #204
General Information
Standard status
Active
Size
1,408 SF
Total Parking Spaces
2
Property subtype
Condo/Townhse/Duplex/Apt
Site & Location
Neighborhood
Andover Square
Units
Unit Mix
1 x 2BR/2.5BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,372
Amenities
pool
clubhouse
party room
patio
in-unit laundry
Building Details
Building Size
1,408 SF
Year Built
1979
Listing Agency:
Crye-Leike REALTORS Kanis Branch
Listed By:
Caroline Justice
(501) 414-7672
Source:
Jonunderhill
Added: Sep 3
Changed: Oct 28
Last Checked: Oct 30 at 5:22AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Crye-Leike REALTORS Kanis Branch
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Investment Insights
Based on property information with market context.
This two-story condominium offers 1,408 square feet, with two bedrooms and their private full bathrooms on the upper level. A half bath and laundry area are located downstairs. The main level also includes an eat-in kitchen with a bay window seat, plus adjoining dining and living rooms. A fenced brick patio has an attached storage closet.
Residents have access to the Andover Square pool, clubhouse and party room, all within walking distance. Two parking spaces are positioned in front of the condominium. The property was built in 1979.
Residents have access to the Andover Square pool, clubhouse and party room, all within walking distance. Two parking spaces are positioned in front of the condominium. The property was built in 1979.
Key Highlights
- 1,408‑square‑foot, two‑story condominium
- Two upstairs bedrooms, each with a private full bath
- Downstairs half bath and laundry area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,380
Cap Rate
6.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$227,600
$227.6K
Cap Rate 7%
$162,571
$162.6K
Cap Rate 9%
$126,444
$126.4K
Market Conditions
NOI Build-Up for 1,408 SF
Gross rent
$22.0K $15.60/SF
− Vacancy
−$1.3K −$0.90/SF
EGI
$20.7K $14.70/SF
− OpEx
−$9.3K −$6.61/SF
NOI
$11.4K $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 Rate 5%
$227,600
Cap Rate 7%
$162,571
Cap Rate 9%
$126,444
Alternative Uses
Best Use
Apartment 5plus
$162.6K
$142.3K – $189.7K
NOI $11,380 @ 7.0% cap · market cap 6.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$255.8K
$223.8K – $298.4K
NOI $17,904 @ 7.0% cap · market cap 9.95%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
518
Businesses Nearby
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Business Placement
Demographics for 72227, AR
11,090
Population
5,700
Households
1.9
Avg Household Size
41
Median Age
55%
College-Educated
98%
High-School Grad
3.8 sq mi
ZIP Area
2,918
Density / Sq Mi
$73,533
Median Household Income
$52,565
Median Earnings
$1,035
Median Rent
$260,900
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Two upstairs bedrooms each have a private full bath, with a half bath on the main level.
Where is this residential income property located?
The property is located at 2200 Andover Ct #204 Little Rock, AR.
What is the asking price?
The asking price for this property is $179,900.
What are key features of this property?
This property features: 1,408‑square‑foot, two‑story condominium; Two upstairs bedrooms, each with a private full bath; Downstairs half bath and laundry area
