Updated Residential Income
For Sale
$94,000
508 Green Mountain Circle, Little Rock, AR 72211
Residential, Traditional, Little Rock, AR
Property Size1,060 SF
Price / SF$88.68
Days on Market66
Property Features for 508 Green Mountain Circle
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 1
Parking features
Assigned
Patio and Porch features
Patio
Interior features
Washer-Stays, Dryer Connection-Electric, Dryer-Stays
Exterior features
Patio, Outside Storage Area
Fireplace
1
Appliances
Electric Range, Dishwasher, Refrigerator-Stays
Subdivision
Green Mountain Condo HPR
Lot features
Zero Lot Line
Directions
From N Shackleford turn L onto Mara Lynn. Turn R onto Green Mountain Drive and take first L onto Green Mountain Circle. Unit will be on the left, 2nd floor.
Standard status
Active
Size
1,060 SF
Taxes and HOA fees
Tax Description
Lot 78 Green Mountain Condo
Tax Annual Amount
920
HOA Fee
$375 Monthly
Legal Description
Lot 78 Green Mountain Condo
Amenities
pool
balcony
fireplace
Building Details
Year built
1981
Floors in Building
1
Flooring type
Vinyl, Carpet
Roof type
Composition
Architectural style
Other
Additional Structures
Storage
Listing Agency:
LPT Realty Conway · RE/MAX International
(501) 291-3841
Listed By:
Cliff Wekkin · License #SA00000000
(501) 339-4506
Added: Jun 16
Changed: Aug 19
Last Checked: Aug 20 at 2:06PM
MLS# 26024328
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 1,060-square-foot condominium includes two bedrooms and two bathrooms, with remodeling completed in the kitchen and both baths. Interior improvements include fresh paint, LVP flooring, and custom closet doors. The unit conveys with a washer, dryer, and refrigerator, and also includes an electric range and dishwasher. Carpet and vinyl flooring are present, while a fireplace adds a defined feature to the living area.
Outdoor amenities include balconies with a wooded view, a patio, and an outside storage area. Assigned parking is provided. The property is located in West Little Rock near shopping, dining, entertainment, and interstate access. Association fees cover the pool, exterior maintenance excluding balconies, water, trash, grounds maintenance, and termite service. The condominium was built in 1981.
Outdoor amenities include balconies with a wooded view, a patio, and an outside storage area. Assigned parking is provided. The property is located in West Little Rock near shopping, dining, entertainment, and interstate access. Association fees cover the pool, exterior maintenance excluding balconies, water, trash, grounds maintenance, and termite service. The condominium was built in 1981.
Key Highlights
- 1,060‑square‑foot condominium with 2 bedrooms and 2 bathrooms
- Kitchen and both bathrooms have been remodeled
- Washer, dryer, and refrigerator convey with the unit
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
$8,567
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
9.11%
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%
$171,340
$171.3K
Cap Rate 7%
$122,386
$122.4K
Cap Rate 9%
$95,189
$95.2K
Market Conditions
NOI Build-Up for 1,060 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
$16.5K $15.60/SF
− Vacancy
−$959 −$0.90/SF
EGI
$15.6K $14.70/SF
− OpEx
−$7.0K −$6.61/SF
NOI
$8.6K $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 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%
$171,340
Cap Rate 7%
$122,386
Cap Rate 9%
$95,189
Alternative Uses
Best Use
Apartment 5plus
$122.4K
$107.1K – $142.8K
NOI $8,567 @ 7.0% cap · market cap 9.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$192.6K
$168.5K – $224.7K
NOI $13,479 @ 7.0% cap · market cap 14.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,267
Businesses Nearby
Explore this area
Business Placement
Demographics for 72211, AR
24,338
Population
12,009
Households
2
Avg Household Size
35
Median Age
56%
College-Educated
97%
High-School Grad
8.3 sq mi
ZIP Area
2,932
Density / Sq Mi
$80,808
Median Household Income
$53,527
Median Earnings
$1,142
Median Rent
$257,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Remodeled kitchen and bathrooms, included appliances, and balcony access add practical appeal to this condominium.
Where is this residential income property located?
The property is located at 508 Green Mountain Circle Little Rock, AR.
What is the asking price?
The asking price for this property is $94,000.
What are key features of this property?
This property features: 1,060‑square‑foot condominium with 2 bedrooms and 2 bathrooms; Kitchen and both bathrooms have been remodeled; Washer, dryer, and refrigerator convey with the unit
