Historic Loft Income
For Sale
$125,000
423 E 3Rd St #221, Little Rock, AR 72201
Residential, Contemporary, Little Rock, AR
Property Size500 SF
Price / SF$250
Days on Market77
Property Features for 423 E 3Rd St #221
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
1
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1, Bedroom 1
Appliances
Free-Standing Stove, Dishwasher
Subdivision
TUF NUT BLDG HPR
Lot features
Zero Lot Line
Directions
Tuf Nut Building, 423 E Third St, Little Rock. Paid parking available on street and across in parking garage.
Standard status
Active
Size
500 SF
Taxes and HOA fees
Tax Year
2024
Tax Description
UNIT 216
Tax Annual Amount
643
HOA Fee
$100 Monthly
Legal Description
UNIT 216
Amenities
secure controlled access
pet-friendly
shared laundry
Building Details
Year built
1930
Flooring type
Wood, Concrete
Roof type
Flat
Architectural style
Contemporary
Listing Agency:
Berkshire Hathaway HomeServices Arkansas Realty
(501) 255-2000
Listed By:
Scott Sandlin
(501) 529-2084
Added: Aug 16
Changed: Oct 27
Last Checked: Oct 31 at 12:06AM
MLS# 26033487
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.
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Investment Insights
Based on property information with market context.
This 500-square-foot contemporary loft residence is within a 1930 building listed on the National Historic Register. Post-and-beam construction, 15-foot ceilings, exposed brick, and a combination of concrete and Birdseye maple flooring create a distinctive interior. The efficient kitchen includes a free-standing stove and dishwasher, while shared washers and dryers serve the second-floor condos. Controlled access and pet-friendly policies are additional building features.
The property is located at 423 E 3rd St in Little Rock’s 72201 postal area. Nearby amenities named in the property information include a grocery store, gourmet liquor store, River Market, River Trail, gyms, parks, and restaurants. The building’s former use as a blue jean factory adds documented industrial history to the residential setting.
The property is located at 423 E 3rd St in Little Rock’s 72201 postal area. Nearby amenities named in the property information include a grocery store, gourmet liquor store, River Market, River Trail, gyms, parks, and restaurants. The building’s former use as a blue jean factory adds documented industrial history to the residential setting.
Key Highlights
- 500‑square‑foot loft residence in a 1930 building
- Listed on the National Historic Register
- 15‑foot ceilings with post‑and‑beam construction and exposed brick
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$4,041
Cap Rate
3.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$80,820
$80.8K
Cap Rate 7%
$57,729
$57.7K
Cap Rate 9%
$44,900
$44.9K
Market Conditions
NOI Build-Up for 500 SF
Gross rent
$7.8K $15.60/SF
− Vacancy
−$452 −$0.90/SF
EGI
$7.3K $14.70/SF
− OpEx
−$3.3K −$6.61/SF
NOI
$4.0K $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 Rate 5%
$80,820
Cap Rate 7%
$57,729
Cap Rate 9%
$44,900
Alternative Uses
Best Use
Apartment 5plus
$57.7K
$50.5K – $67.4K
NOI $4,041 @ 7.0% cap · market cap 3.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$90.8K
$79.5K – $106.0K
NOI $6,358 @ 7.0% cap · market cap 5.09%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
3,079
Businesses Nearby
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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 - Contemporary loft residence with exposed brick, high ceilings, wood flooring, and controlled building access.
Where is this residential income property located?
The property is located at 423 E 3Rd St #221 Little Rock, AR.
What is the asking price?
The asking price for this property is $125,000.
What are key features of this property?
This property features: 500‑square‑foot loft residence in a 1930 building; Listed on the National Historic Register; 15‑foot ceilings with post‑and‑beam construction and exposed brick
