End-Unit
For Sale
$319,500
311 Chenal Woods Drive, Little Rock, AR 72223
Residential, Spanish, Little Rock, AR
Property Size1,271 SF
Price / SF$251.38
Days on Market97
Property Features for 311 Chenal Woods Drive
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1, Bedroom 1, Bedroom 2
Parking features
Garage
Patio and Porch features
Patio
Interior features
Washer-Stays, Dryer-Stays, Window Treatments, Walk-In Closet(s), Built-Ins, Kit Counter- Granite Slab
Exterior features
Patio
Fireplace
1
Appliances
Gas Range, Dishwasher, Disposal, Refrigerator-Stays
Subdivision
CHENAL WOODS HPR
Lot features
Golf Course Frontage
Directions
Traveling West on Chenal Parkway to left on Rahling Rd. to right on Founders Drive.
Standard status
Active
Size
1,271 SF
Taxes and HOA fees
Tax Description
Unit 311
Tax Annual Amount
3034
HOA Fee
$443 Monthly
Legal Description
Unit 311
Amenities
pool
golf course access
fitness center
gated entry
exterior maintenance
water
trash
gas
grounds
Building Details
Year built
2009
Floors in Building
3
Flooring type
Wood, Carpet
Roof type
Shingle
Architectural style
Spanish
Listing Agency:
Arkansas Land & Realty, Inc.
(501) 910-1111
Listed By:
Trey Clifton
(501) 298-7596
Added: Jul 1
Changed: Oct 5
Last Checked: Oct 5 at 10:06AM
MLS# 26026578
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 1,271-square-foot condominium in Little Rock has two bedrooms, two bathrooms, an open layout, and an oversized private terrace overlooking mature trees. The end-unit position provides additional separation from neighboring units. Interior features include a walk-in closet, built-ins, granite-slab kitchen counters, wood and carpet flooring, and a fireplace. The property was built in 2009 and includes a garage space.
The residence is within a gated golf course community near The Promenade at Chenal. Community amenities and services covered by the HOA include a pool, fitness center, golf course access, exterior maintenance, water, trash, gas, and maintained grounds.
The residence is within a gated golf course community near The Promenade at Chenal. Community amenities and services covered by the HOA include a pool, fitness center, golf course access, exterior maintenance, water, trash, gas, and maintained grounds.
Key Highlights
- 1,271 square feet with two bedrooms and two bathrooms
- End‑unit layout with an oversized private terrace and mature‑tree views
- Built in 2009
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
$10,273
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
3.22%
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%
$205,460
$205.5K
Cap Rate 7%
$146,757
$146.8K
Cap Rate 9%
$114,144
$114.1K
Market Conditions
NOI Build-Up for 1,271 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
$19.8K $15.60/SF
− Vacancy
−$1.2K −$0.90/SF
EGI
$18.7K $14.70/SF
− OpEx
−$8.4K −$6.61/SF
NOI
$10.3K $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%
$205,460
Cap Rate 7%
$146,757
Cap Rate 9%
$114,144
Alternative Uses
Best Use
Apartment 5plus
$146.8K
$128.4K – $171.2K
NOI $10,273 @ 7.0% cap · market cap 3.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$230.9K
$202.0K – $269.4K
NOI $16,162 @ 7.0% cap · market cap 5.06%
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
372
Businesses Nearby
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Business Placement
Demographics for 72223, AR
25,465
Population
12,279
Households
2.1
Avg Household Size
41
Median Age
66%
College-Educated
98%
High-School Grad
48.5 sq mi
ZIP Area
525
Density / Sq Mi
$99,063
Median Household Income
$62,227
Median Earnings
$1,242
Median Rent
$435,100
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Two bedrooms and two bathrooms are arranged in an open layout with a private terrace and views of mature trees.
Where is this residential income property located?
The property is located at 311 Chenal Woods Drive Little Rock, AR.
What is the asking price?
The asking price for this property is $319,500.
What are key features of this property?
This property features: 1,271 square feet with two bedrooms and two bathrooms; End‑unit layout with an oversized private terrace and mature‑tree views; Built in 2009
