Downstairs Residential Income Condo with
For Sale
$169,900
301 Kings Row Dr #501, Little Rock, AR 72207
CONDOS - Little Rock, AR
Property Size1,133 SF
Price / SF$149.96
Days on Market40
Property Features for 301 Kings Row Dr #501
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bonus Room, Bathroom 1, Bathroom 2, Bedroom 1
Parking features
Assigned
Patio and Porch features
Porch, Patio
Interior features
Washer Connection, Dryer Connection-Electric, Water Heater-Electric, Smoke Detector(s), Ceiling Fan(s), Breakfast Bar, Kit Counter- Granite Slab
Exterior features
Patio, Porch, Outside Storage Area, Guttering, Covered Patio
Fireplace
1
Appliances
Free-Standing Stove, Microwave, Electric Range, Surface Range, Dishwasher, Disposal, Pantry, Ice Maker Connection
Subdivision
TIMBER RIDGE HPR
Lot features
Level
Directions
I-430 take Cantrell Rd go East then turn Left on Kings Row Dr and then turn Right in to the complex and unit 501 will be on the Left and is a down stairs unit.
Standard status
Active
Size
1,133 SF
Taxes and HOA fees
Tax Description
Unit 501 Timber Ridge HPR
Tax Annual Amount
1604
HOA Fee
$240 Monthly
Legal Description
Unit 501 Timber Ridge HPR
Amenities
pool
Building Details
Year built
2006
Floors in Building
1
Flooring type
Carpet, Concrete, Tile
Roof type
Composition
Architectural style
Other
Additional Structures
Storage
Listing Agency:
Halsey Real Estate - Benton
(501) 575-9191
Listed By:
Teresa Cogovan
(870) 972-9191
Added: Jul 12
Changed: Aug 3
Last Checked: Aug 20 at 10:06AM
MLS# 26028143
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.
Ground-level condo in a residential income setting featuring two spacious bedrooms and two full bathrooms, plus a separate dining area and an office/bonus room. The living room includes a wood-burning fireplace and ceiling fan(s), with flooring that combines carpet, concrete, and tile. The kitchen offers granite slab countertops and a breakfast bar, along with a pantry and stainless steel appliances.
Enjoy outdoor time on the covered back patio and back patio area, with an on-site community pool available for residents. The unit includes washer and dryer connections and an electric water heater, plus a smart thermostat controllable from a phone.
Condo association fees cover the roof, exterior, grounds maintenance, water, trash/recycle, and chimney cleaning each year. Updates include a new roof in 2025, new carpet in 2023, and a new stove (never used) in 2026. The property includes assigned parking and is built with a composition roof and smoke detector(s).
Enjoy outdoor time on the covered back patio and back patio area, with an on-site community pool available for residents. The unit includes washer and dryer connections and an electric water heater, plus a smart thermostat controllable from a phone.
Condo association fees cover the roof, exterior, grounds maintenance, water, trash/recycle, and chimney cleaning each year. Updates include a new roof in 2025, new carpet in 2023, and a new stove (never used) in 2026. The property includes assigned parking and is built with a composition roof and smoke detector(s).
Key Highlights
- Ground‑level condo with 2 bedrooms and 2 full bathrooms
- Wood‑burning fireplace in the living room
- Separate dining area plus office/bonus room
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
$9,157
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
5.39%
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%
$183,140
$183.1K
Cap Rate 7%
$130,814
$130.8K
Cap Rate 9%
$101,744
$101.7K
Market Conditions
NOI Build-Up for 1,133 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
$17.7K $15.60/SF
− Vacancy
−$1.0K −$0.90/SF
EGI
$16.6K $14.70/SF
− OpEx
−$7.5K −$6.61/SF
NOI
$9.2K $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%
$183,140
Cap Rate 7%
$130,814
Cap Rate 9%
$101,744
Alternative Uses
Best Use
Apartment 5plus
$130.8K
$114.5K – $152.6K
NOI $9,157 @ 7.0% cap · market cap 5.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$205.8K
$180.1K – $240.1K
NOI $14,408 @ 7.0% cap · market cap 8.48%
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
676
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Ground-level condo with two bedrooms, two full bathrooms, a wood-burning fireplace, and a covered back patio.
Where is this residential income property located?
The property is located at 301 Kings Row Dr #501 Little Rock, AR.
What is the asking price?
The asking price for this property is $169,900.
What are key features of this property?
This property features: Ground‑level condo with 2 bedrooms and 2 full bathrooms; Wood‑burning fireplace in the living room; Separate dining area plus office/bonus room
