Corner-Unit Residential Income
For Sale
$270,000
2506 Riverfront Drive, Little Rock, AR 72202
Residential, Contemporary, Townhouse, Little Rock, AR
Property Size1,114 SF
Price / SF$242.37
Days on Market71
Property Features for 2506 Riverfront Drive
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
2
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Laundry Room, Bathroom 1, Bathroom 3, Bedroom 1, Bedroom 2, Bathroom 2
Parking features
Assigned, Carport
Patio and Porch features
Patio
Interior features
Washer Connection, Dryer Connection-Electric, Ceiling Fan(s), Breakfast Bar
Exterior features
Patio, Outside Storage Area
Fireplace
1
Appliances
Electric Range, Dishwasher, Disposal
Subdivision
ROUND RIVER HPR
Lot features
Level
Elementary school
Forest Park
Middle school
Pulaski Heights
High school
Central
Directions
Take 630 to Exit 2A, Chester St. Head north. Take a left on La Harpe Blvd and a right on Riverfront Dr. Gate code will be provided when showings are approved. Once thru the gate, go toward the left for the 2506 section. Apt 5.
Standard status
Active
APN
33L-004-01-015-00
Size
1,114 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
TBD by title company
Tax Annual Amount
1956
HOA Fee
$301 Monthly
Legal Description
TBD by title company
Building Details
Year built
1980
Floors in Building
2
Flooring type
Carpet, Tile, Vinyl
Roof type
Composition
Architectural style
Contemporary, Other
Additional Structures
Storage
Listing Agency:
Mid South Realty
(501) 444-2055
Listed By:
Kari Clay
(501) 240-3117
Added: Jun 11
Changed: Aug 20
Last Checked: Aug 20 at 3:06PM
MLS# 26023494
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 1,114-square-foot condominium was built in 1980 and features a contemporary layout with soaring ceilings, abundant natural light, and a floor-to-ceiling accent wall in the main living area. A fireplace anchors the room, while the kitchen includes updated appliances and a breakfast bar. The upper level contains two bedrooms and two full bathrooms, including a primary suite with built-in storage and an ensuite bath; a half bath serves the main floor. The corner-unit configuration provides room for expansion, and the property includes a patio, outside storage area, assigned carport parking, and a composition roof. HVAC was replaced in 2025.
The residence sits directly beside the River Trail, with access to the Big Dam Bridge, Riverdale restaurants, and local design centers. Grounds include mature trees, landscaped areas, water and fountain views, and abundant wildlife. Interior features include washer and dryer connections, ceiling fans, carpet, vinyl, and tile flooring.
The residence sits directly beside the River Trail, with access to the Big Dam Bridge, Riverdale restaurants, and local design centers. Grounds include mature trees, landscaped areas, water and fountain views, and abundant wildlife. Interior features include washer and dryer connections, ceiling fans, carpet, vinyl, and tile flooring.
Key Highlights
- 1,114 SF condominium built in 1980
- Corner‑unit layout with room for expansion
- New HVAC installed in 2025
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
$9,004
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
3.33%
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%
$180,080
$180.1K
Cap Rate 7%
$128,629
$128.6K
Cap Rate 9%
$100,044
$100.0K
Market Conditions
NOI Build-Up for 1,114 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
$17.4K $15.60/SF
− Vacancy
−$1.0K −$0.90/SF
EGI
$16.4K $14.70/SF
− OpEx
−$7.4K −$6.61/SF
NOI
$9.0K $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%
$180,080
Cap Rate 7%
$128,629
Cap Rate 9%
$100,044
Alternative Uses
Best Use
Apartment 5plus
$128.6K
$112.6K – $150.1K
NOI $9,004 @ 7.0% cap · market cap 3.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$202.4K
$177.1K – $236.1K
NOI $14,166 @ 7.0% cap · market cap 5.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
160
Businesses Nearby
Explore this area
Business Placement
Demographics for 72202, AR
10,340
Population
7,403
Households
1.4
Avg Household Size
37
Median Age
49%
College-Educated
93%
High-School Grad
7.1 sq mi
ZIP Area
1,456
Density / Sq Mi
$54,167
Median Household Income
$42,981
Median Earnings
$1,040
Median Rent
$246,900
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Condominium with two bedrooms, two full baths, a guest half bath, and access to a private patio.
Where is this residential income property located?
The property is located at 2506 Riverfront Drive Little Rock, AR.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: 1,114 SF condominium built in 1980; Corner‑unit layout with room for expansion; New HVAC installed in 2025
