Contemporary Residential Income
For Sale
$340,000
315 Rock Street #907, Little Rock, AR 72202
Residential, Contemporary, Little Rock, AR
Property Size1,362 SF
Price / SF$249.63
Days on Market62
Property Features for 315 Rock Street #907
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Laundry Room, Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 1
Parking features
Assigned
Patio and Porch features
Patio
Interior features
Washer Connection, Dryer Connection-Electric, Water Heater-Electric, Smoke Detector(s), Walk-In Closet(s), Walk-in Shower, Wired for Highspeed Inter, Kit Counter-Stone
Exterior features
Patio
Appliances
Built-In Stove, Microwave, Dishwasher, Disposal
Subdivision
RIVER MARKET PLACE
Lot features
Level
Directions
SE corner of 3rd and Rock
Standard status
Active
Size
1,362 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
Lot 907
Tax Annual Amount
4137
HOA Fee
$846 Monthly
Legal Description
Lot 907
Amenities
concierge
penthouse lounge
rooftop terrace
pool
putting green
basketball recreational area
gardening beds
firepit
grill
lobby
fitness center
Building Details
Year built
2008
Flooring type
Concrete
Roof type
Composition
Architectural style
Contemporary
Listing Agency:
Janet Jones Company
(501) 224-3201
Listed By:
Casey Jones
(501) 944-8000
Added: Aug 4
Changed: Oct 2
Last Checked: Oct 4 at 10:06PM
MLS# 26031673
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 contemporary residential income property at 315 Rock Street #907 offers 1362 square feet with two bedrooms, two bathrooms, a laundry room, and concrete flooring. The interior includes a stone-counter kitchen with built-in stove, microwave, dishwasher, disposal, gas cooktop, and wine fridge. A walk-in closet, walk-in shower, high-speed internet wiring, and private patio add practical features. The primary suite is designed as a private retreat, while the open living areas support entertaining and daily use.
The property is positioned in downtown Little Rock within walking distance of dining, shops, and downtown venues. Residents have two assigned spaces in covered, gated parking, along with access to a renovated lobby, fitness center, concierge service, penthouse lounge, rooftop terrace, pool, putting green, basketball recreation area, gardening beds, and firepit with grill. Built in 2008, the property also has new high-efficiency HVAC.
The property is positioned in downtown Little Rock within walking distance of dining, shops, and downtown venues. Residents have two assigned spaces in covered, gated parking, along with access to a renovated lobby, fitness center, concierge service, penthouse lounge, rooftop terrace, pool, putting green, basketball recreation area, gardening beds, and firepit with grill. Built in 2008, the property also has new high-efficiency HVAC.
Key Highlights
- 1362 square feet with two bedrooms and two bathrooms
- Private patio terrace with city views
- Two assigned spaces in covered, gated parking
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
$11,008
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
3.24%
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%
$220,160
$220.2K
Cap Rate 7%
$157,257
$157.3K
Cap Rate 9%
$122,311
$122.3K
Market Conditions
NOI Build-Up for 1,362 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
$21.2K $15.60/SF
− Vacancy
−$1.2K −$0.90/SF
EGI
$20.0K $14.70/SF
− OpEx
−$9.0K −$6.61/SF
NOI
$11.0K $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%
$220,160
Cap Rate 7%
$157,257
Cap Rate 9%
$122,311
Alternative Uses
Best Use
Apartment 5plus
$157.3K
$137.6K – $183.5K
NOI $11,008 @ 7.0% cap · market cap 3.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$247.4K
$216.5K – $288.7K
NOI $17,320 @ 7.0% cap · market cap 5.09%
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 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
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Frequently Asked Questions
What type of property is this?
Residential income property - Downtown condo with two bedrooms, a private terrace, updated HVAC, and access to extensive shared amenities.
Where is this residential income property located?
The property is located at 315 Rock Street #907 Little Rock, AR.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: 1362 square feet with two bedrooms and two bathrooms; Private patio terrace with city views; Two assigned spaces in covered, gated parking
