Two-Story Residential Income
For Sale
Under Contract
$189,500
2200 Andover Court, Little Rock, AR 72207
Residential, Traditional, Little Rock, AR
Property Size1,332 SF
Price / SF$142.27
Days on Market165
Property Features for 2200 Andover Court
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
2
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 2, Bedroom 1, Bathroom 3, Bathroom 1, Bedroom 2
Parking features
Assigned
Patio and Porch features
Patio
Interior features
Washer Connection, Washer-Stays, Dryer Connection-Electric, Dryer-Stays, Kit Counter-Corian
Exterior features
Patio, Fully Fenced
Fencing
Full
Fireplace
1
Appliances
Free-Standing Stove, Microwave, Electric Range, Dishwasher, Refrigerator-Stays
Subdivision
ANDOVER SQUARE
Lot features
Level
Directions
Take I-630 W. Take exit 6A towards Rodney Parham and Mississippi Ave. Turn right onto Mississippi Ave. Turn left on Cantrell Road. Turn left onto Andover Court and stay to the right. Unit 402 will be straight ahead, just to the left.
Standard status
Active Under Contract
Size
1,332 SF
Taxes and HOA fees
Tax Description
Lot 402 Block Apt
Tax Annual Amount
2000
HOA Fee
$363 Monthly
Legal Description
Lot 402 Block Apt
Amenities
pool
private patio
Building Details
Year built
1986
Floors in Building
2
Flooring type
Wood, Carpet, Tile
Roof type
Shingle
Architectural style
Other
Listing Agency:
LPT Realty · RE/MAX International
(501) 291-3841
Listed By:
Emily Pierce
(870) 926-6175
Added: Apr 24
Changed: Sep 22
Last Checked: Oct 5 at 12:06AM
MLS# 26016547
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 two-story residential income property is configured as a condominium with 1,332 square feet, two bedrooms, and 2.5 bathrooms. Interior features include a Corian kitchen counter, wood, carpet, and tile flooring, along with washer and dryer connections and appliances that remain. A fireplace, shingle roof, and full fencing are also included.
Outdoor features include a private patio and two assigned parking spaces. Residents have access to a community pool and maintained common areas. Built in 1986, the property is located in Little Rock, Arkansas, in the 72207 ZIP code.
Outdoor features include a private patio and two assigned parking spaces. Residents have access to a community pool and maintained common areas. Built in 1986, the property is located in Little Rock, Arkansas, in the 72207 ZIP code.
Key Highlights
- 1,332‑square‑foot two‑story condo
- Two bedrooms and 2.5 bathrooms
- Private patio with full fencing
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
$10,766
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
5.68%
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%
$215,320
$215.3K
Cap Rate 7%
$153,800
$153.8K
Cap Rate 9%
$119,622
$119.6K
Market Conditions
NOI Build-Up for 1,332 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
$20.8K $15.60/SF
− Vacancy
−$1.2K −$0.90/SF
EGI
$19.6K $14.70/SF
− OpEx
−$8.8K −$6.61/SF
NOI
$10.8K $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%
$215,320
Cap Rate 7%
$153,800
Cap Rate 9%
$119,622
Alternative Uses
Best Use
Apartment 5plus
$153.8K
$134.6K – $179.4K
NOI $10,766 @ 7.0% cap · market cap 5.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$242.0K
$211.7K – $282.3K
NOI $16,938 @ 7.0% cap · market cap 8.94%
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
522
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 - Two-story condo with private patio, assigned parking, and access to a community pool.
Where is this residential income property located?
The property is located at 2200 Andover Court Little Rock, AR.
What is the asking price?
The asking price for this property is $189,500.
What are key features of this property?
This property features: 1,332‑square‑foot two‑story condo; Two bedrooms and 2.5 bathrooms; Private patio with full fencing
