Furnished Residential Income
For Sale
$144,000
515 E Capitol Avenue, Little Rock, AR 72202
Residential, Craftsman, Little Rock, AR
Property Size871 SF
Price / SF$165.33
Days on Market9
Property Features for 515 E Capitol Avenue
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
1
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1, Bedroom 1
Appliances
Microwave, Dishwasher, Disposal, Refrigerator-Stays
Subdivision
RAINWATER FLATS HPR
Lot features
Level
Directions
from South I-30 to 6th Street Exit, right on 6th Street, right on Ferry, Secured Entry Gates on left From North I-30 to 9th Street Exit, left on overpass, right on Ferry to Capitol, left on Capitol Secured Entry Gates on left
Standard status
Active
Size
871 SF
Taxes and HOA fees
Tax Year
2026
Tax Description
UNIT 107 RAINWATER FLATS HPR
Tax Annual Amount
1913
HOA Fee
$250 Monthly
Legal Description
UNIT 107 RAINWATER FLATS HPR
Amenities
in-unit washer and dryer
storage room
Building Details
Year built
2005
Floors in Building
1
Flooring type
Wood, Tile, Carpet
Roof type
Shingle
Architectural style
Craftsman
Listing Agency:
Engel & Volkers · Engel & Völkers
(501) 663-6000
Listed By:
Ryan Stephens
(501) 551-2430
Added: Oct 8
Changed: Oct 15
Last Checked: Oct 16 at 10:06PM
MLS# 26040887
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 871-square-foot, first-floor condo has one bedroom and one bathroom, with an open living and kitchen area. A walk-in closet, additional closets, a separate storage room, and an in-unit washer and dryer provide storage and laundry space. Furnishings convey according to an inventory. The 2005 building has Craftsman styling, and the unit features tile, carpet, and wood flooring.
Residents have access to a gated parking area at the building. The property is in downtown Little Rock, within walking distance of the Arkansas Museum of Fine Arts and MacArthur Park. Main Street, SoMa, and East Village are also identified as nearby areas, while I-30 and I-630 are a short drive away.
Residents have access to a gated parking area at the building. The property is in downtown Little Rock, within walking distance of the Arkansas Museum of Fine Arts and MacArthur Park. Main Street, SoMa, and East Village are also identified as nearby areas, while I-30 and I-630 are a short drive away.
Key Highlights
- 871‑square‑foot condo with one bedroom and one bathroom
- First‑floor unit in a 2005 building
- Furnishings convey per inventory
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$7,040
Cap Rate
4.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$140,800
$140.8K
Cap Rate 7%
$100,571
$100.6K
Cap Rate 9%
$78,222
$78.2K
Market Conditions
NOI Build-Up for 871 SF
Gross rent
$13.6K $15.60/SF
− Vacancy
−$788 −$0.90/SF
EGI
$12.8K $14.70/SF
− OpEx
−$5.8K −$6.61/SF
NOI
$7.0K $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%
$140,800
Cap Rate 7%
$100,571
Cap Rate 9%
$78,222
Alternative Uses
Best Use
Apartment 5plus
$100.6K
$88.0K – $117.3K
NOI $7,040 @ 7.0% cap · market cap 4.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$158.2K
$138.5K – $184.6K
NOI $11,076 @ 7.0% cap · market cap 7.69%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,921
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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Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Residential income property - The first-floor unit includes a walk-in closet, in-unit laundry, and a dedicated storage room.
Where is this residential income property located?
The property is located at 515 E Capitol Avenue Little Rock, AR.
What is the asking price?
The asking price for this property is $144,000.
What are key features of this property?
This property features: 871‑square‑foot condo with one bedroom and one bathroom; First‑floor unit in a 2005 building; Furnishings convey per inventory
