Contemporary Residential Income
For Sale
$239,900
300 E 3rd Street #606, Little Rock, AR 72201
Residential, Contemporary, Little Rock, AR
Property Size959 SF
Price / SF$250.16
Days on Market65
Property Features for 300 E 3rd Street #606
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
1
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1, Laundry Room, Bathroom 1
Interior features
Washer Connection, Washer-Stays, Dryer Connection-Electric, Dryer-Stays, Water Heater-Electric, Walk-In Closet(s), Breakfast Bar, Kit Counter- Granite Slab
Exterior features
Dog Run, Pool - unspecified
Appliances
Free-Standing Stove, Microwave, Electric Range, Dishwasher, Disposal, Pantry, Refrigerator-Stays, Convection Oven
Subdivision
300 THIRD HPR
Lot features
Level, Not in Subdivision, Near Bus Stop
Directions
Downtown towards the RiverMarket. On the corner of Cumberland and E 3rd. Above Copper Grill.
Standard status
Active
Size
959 SF
Taxes and HOA fees
Tax Description
Unit 606
Tax Annual Amount
2709
HOA Fee
$611 Monthly
Legal Description
Unit 606
Amenities
24hr concierge
community pool
hot tub
gym
dog run
roof top party room
terrace
storage units
Building Details
Year built
2007
Flooring type
Wood, Tile
Roof type
Flat
Architectural style
Contemporary
Additional Structures
Kennel/Dog Run
Listing Agency:
PorchLight Realty
(501) 286-6025
Listed By:
Tracie Cash
(501) 743-8123
Added: Aug 1
Changed: Sep 14
Last Checked: Oct 4 at 9:06PM
MLS# 26031380
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 959-square-foot contemporary condo was built in 2007 and features an open living and kitchen arrangement with hardwood floors, tile, granite counters, a breakfast bar, and KitchenAid stainless steel appliances. The residence includes one bedroom, one bathroom, a laundry room, walk-in and additional closet storage, and an island with an integrated sink. Washer, dryer, refrigerator, and kitchen appliances remain with the property.
The condo is located at 300 E 3rd Street in Little Rock, with views toward the city and Arkansas River views from the rooftop terrace. Shared amenities include a 24-hour concierge, community pool, hot tub, gym, dog run, rooftop party room, and terrace. The property also includes one gated, secured parking space, with additional spaces and storage units available. HOA services cover water, trash, gas, and pest control; electricity charges are added monthly to HOA.
The condo is located at 300 E 3rd Street in Little Rock, with views toward the city and Arkansas River views from the rooftop terrace. Shared amenities include a 24-hour concierge, community pool, hot tub, gym, dog run, rooftop party room, and terrace. The property also includes one gated, secured parking space, with additional spaces and storage units available. HOA services cover water, trash, gas, and pest control; electricity charges are added monthly to HOA.
Key Highlights
- 959 SF contemporary condo built in 2007
- One bedroom and one bathroom with a dedicated laundry room
- Open kitchen with granite counters, breakfast bar, island sink, and stainless steel appliances
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
$7,751
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
3.23%
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%
$155,020
$155.0K
Cap Rate 7%
$110,729
$110.7K
Cap Rate 9%
$86,122
$86.1K
Market Conditions
NOI Build-Up for 959 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
$15.0K $15.60/SF
− Vacancy
−$868 −$0.90/SF
EGI
$14.1K $14.70/SF
− OpEx
−$6.3K −$6.61/SF
NOI
$7.8K $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%
$155,020
Cap Rate 7%
$110,729
Cap Rate 9%
$86,122
Alternative Uses
Best Use
Apartment 5plus
$110.7K
$96.9K – $129.2K
NOI $7,751 @ 7.0% cap · market cap 3.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$174.2K
$152.4K – $203.3K
NOI $12,195 @ 7.0% cap · market cap 5.08%
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
3,079
Businesses Nearby
Explore this area
Business Placement
Demographics for 72201, AR
961
Population
628
Households
1.5
Avg Household Size
44
Median Age
78%
College-Educated
100%
High-School Grad
1.2 sq mi
ZIP Area
801
Density / Sq Mi
$112,045
Median Household Income
$71,188
Median Earnings
$1,344
Median Rent
$262,300
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - One-bedroom condo with hardwood flooring, granite kitchen finishes, secured parking, and access to extensive shared amenities.
Where is this residential income property located?
The property is located at 300 E 3rd Street #606 Little Rock, AR.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: 959 SF contemporary condo built in 2007; One bedroom and one bathroom with a dedicated laundry room; Open kitchen with granite counters, breakfast bar, island sink, and stainless steel appliances
