One-Bedroom Condo with Garage
For Sale
$275,000
300 E 3rd Apt 706, Little Rock, AR 72201
CONDOS - Little Rock, AR
Property Size959 SF
Price / SF$286.76
Days on Market38
Property Features for 300 E 3rd Apt 706
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
1
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1, Laundry Room, Bathroom 1
Parking features
Garage
Interior features
Washer-Stays, Dryer-Stays, Smoke Detector(s), Window Treatments, Walk-In Closet(s), Ceiling Fan(s), Elevator
Accessibility
Accessible Elevator Installed
Appliances
Electric Range, Dishwasher, Disposal, Refrigerator-Stays, Ice Maker Connection
Subdivision
300 THIRD HPR
Lot features
Level
Directions
At the corner of 3rd and Cumberland - parking on the street in front of the building or there is a paid lot behind the building.
Standard status
Active
Size
959 SF
Taxes and HOA fees
Tax Description
300 3rd HPR, Lot 706
HOA Fee
$611 Monthly
Legal Description
300 3rd HPR, Lot 706
Amenities
concierge
gym
pool
hot tub
rooftop common areas
Copper Grill restaurant
Building Details
Year built
2007
Flooring type
Wood
Architectural style
Contemporary
Listing Agency:
United Real Estate - Central AR
(501) 747-1532
Listed By:
Melissa Bond
(501) 960-0665
Added: Jul 14
Changed: Aug 3
Last Checked: Aug 20 at 1:06PM
MLS# 26029296
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 renovated one-bedroom, one-bath condo features an open, light-filled layout anchored by a dramatic floor-to-ceiling wall of east-facing windows. The kitchen has updated finishes, and the unit offers additional storage with extra closet space throughout.
Located in downtown Little Rock, the building includes concierge services, a gym, pool, hot tub, and rooftop common areas. Copper Grill restaurant is located downstairs within the building.
The condo also includes one covered garage parking space. The property is presented as within walking distance to restaurants, entertainment, and the River Market District, supporting an effortless downtown lifestyle.
Located in downtown Little Rock, the building includes concierge services, a gym, pool, hot tub, and rooftop common areas. Copper Grill restaurant is located downstairs within the building.
The condo also includes one covered garage parking space. The property is presented as within walking distance to restaurants, entertainment, and the River Market District, supporting an effortless downtown lifestyle.
Key Highlights
- Renovated 1‑bedroom, 1‑bath contemporary condo built in 2007
- Open layout with floor‑to‑ceiling, east‑facing windows for morning light and skyline views
- Updated kitchen with electric range, dishwasher, disposal, and refrigerator (stays)
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
2.82%
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 2.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$174.2K
$152.4K – $203.3K
NOI $12,195 @ 7.0% cap · market cap 4.43%
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
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Renovated one-bedroom, one-bath condo with updated kitchen, east-facing floor-to-ceiling windows, and one covered garage space.
Where is this residential income property located?
The property is located at 300 E 3rd Apt 706 Little Rock, AR.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Renovated 1‑bedroom, 1‑bath contemporary condo built in 2007; Open layout with floor‑to‑ceiling, east‑facing windows for morning light and skyline views; Updated kitchen with electric range, dishwasher, disposal, and refrigerator (stays)
