Contemporary Loft Residential Income
For Sale
$159,000
423 E 3rd St #302, Little Rock, AR 72201
Residential, Contemporary, Little Rock, AR
Property Size688 SF
Price / SF$231.10
Days on Market79
Property Features for 423 E 3rd St #302
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
1
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1, Bathroom 1
Interior features
Walk-In Closet(s), Ceiling Fan(s), Kit Counter-Ceramic Tile
Appliances
Electric Range, Dishwasher
Subdivision
TUF NUT BLDG HPR
Lot features
Level, Not in Subdivision
Directions
River market Ave and 3rd Street
Standard status
Active
Size
688 SF
Taxes and HOA fees
Tax Description
303
Tax Annual Amount
1571
HOA Fee
$193 Monthly
Legal Description
303
Amenities
exposed brick walls
polished concrete floors
expansive windows
soaring ceilings
full kitchen
bathroom
updated stainless appliances
granite countertops
controlled building access
pet-friendly
Building Details
Year built
1930
Flooring type
Concrete
Roof type
Flat
Architectural style
Contemporary
Listing Agency:
The Property Group
(501) 663-0505
Listed By:
Margaret Bell
(501) 231-7736
Added: Aug 13
Changed: Oct 27
Last Checked: Oct 30 at 9:06PM
MLS# 26033099
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 688-square-foot contemporary loft occupies a converted factory building constructed in 1930. The residence combines exposed brick, polished concrete flooring, expansive windows, and high ceilings with a flexible open plan. A separate bedroom area, full kitchen, and bathroom provide defined functionality within the loft layout. The kitchen includes stainless appliances, granite countertops, ceramic tile, an electric range, and a dishwasher. Additional interior features include a walk-in closet and ceiling fan.
Controlled building access supports resident security, while garage parking is available as an option. The property is pet-friendly. Its downtown setting places it steps from the River Market District, Arkansas River Trail, restaurants, nightlife, art galleries, and parks. The building’s first floor includes 10 Fitness and Lucky Lou's, and 30 Crossing Park is one block away.
Controlled building access supports resident security, while garage parking is available as an option. The property is pet-friendly. Its downtown setting places it steps from the River Market District, Arkansas River Trail, restaurants, nightlife, art galleries, and parks. The building’s first floor includes 10 Fitness and Lucky Lou's, and 30 Crossing Park is one block away.
Key Highlights
- 688‑square‑foot loft in a converted factory building constructed in 1930
- Exposed brick, polished concrete floors, expansive windows, and high ceilings
- Separate bedroom area with full kitchen and bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$5,561
Cap Rate
3.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$111,220
$111.2K
Cap Rate 7%
$79,443
$79.4K
Cap Rate 9%
$61,789
$61.8K
Market Conditions
NOI Build-Up for 688 SF
Gross rent
$10.7K $15.60/SF
− Vacancy
−$623 −$0.90/SF
EGI
$10.1K $14.70/SF
− OpEx
−$4.5K −$6.61/SF
NOI
$5.6K $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%
$111,220
Cap Rate 7%
$79,443
Cap Rate 9%
$61,789
Alternative Uses
Best Use
Apartment 5plus
$79.4K
$69.5K – $92.7K
NOI $5,561 @ 7.0% cap · market cap 3.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$125.0K
$109.4K – $145.8K
NOI $8,749 @ 7.0% cap · market cap 5.50%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
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 - Open-concept loft residence with exposed brick, polished concrete, and updated kitchen finishes in a controlled-access building.
Where is this residential income property located?
The property is located at 423 E 3rd St #302 Little Rock, AR.
What is the asking price?
The asking price for this property is $159,000.
What are key features of this property?
This property features: 688‑square‑foot loft in a converted factory building constructed in 1930; Exposed brick, polished concrete floors, expansive windows, and high ceilings; Separate bedroom area with full kitchen and bathroom
