Ground-Level Income
New
For Sale
$115,000
6 Towne Park Ct #3, Little Rock, AR 72227
MULTI_FAMILY - Little Rock, AR
Property Size1,063 SF
Price / SF$108.18
Days on Market1
Property Features for 6 Towne Park Ct #3
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Patio and Porch features
Patio, Porch
Interior features
Washer Connection, Dryer Connection-Electric, Hot Water Heater-Electric, Window Treatments
Exterior features
Guttering, Dumpster, Patio, Porch
Appliances
Free-Standing Stove, Microwave, Electric Range, Surface Range, Dishwasher, Disposal, Refrigerator-Stays, Free-Standing Stove, Microwave, Electric Range, Surface Range, Dishwasher, Disposal, Refrigerator-Stays
Subdivision
Towne Park
Lot features
Level, Corner Lot, Cul-de-sac, Extra Landscaping, In Subdivision
Directions
East on Rodney Parham to left onto Treasure Hills, then left into Towne Park Court, take the first right and circle, Unit 6 will be straight ahead as you complete the circle, if you turn left it will be immediately on your right, #3 is on the bottom right
Standard status
Active
Size
1,063 SF
Taxes and HOA fees
Tax Description
Lot 3
Tax Annual Amount
771
HOA Fee
$250 Monthly
Legal Description
Lot 3
Amenities
storage area
yard
Building Details
Year built
1982
Floors in Building
1
Number of units
1
Flooring type
Wood, Tile
Roof type
Composition
Architectural style
Other
Listing Agency:
McLellan & Associates Real Estate Group
(501) 823-3649
Listed By:
Stan McLellan
(501) 580-3649
Added: Aug 11
Last Checked: Aug 11 at 7:06PM
MLS# 26032643
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 1,063-square-foot ground-level corner unit was built in 1982 and has been occupied exclusively by family members. The layout includes a storage area and yard, with wood and tile flooring, a patio, porch, guttering, and composition roofing. Kitchen appliances include a refrigerator, electric stove, dishwasher, garbage disposal, and microwave. Washer and dryer connections are also provided.
The property offers quick access to grocery stores, restaurants, and I-430 in Little Rock. Electricity is paid by the tenant, while water is paid by the POA. No Seller Disclosure is available for the property.
The property offers quick access to grocery stores, restaurants, and I-430 in Little Rock. Electricity is paid by the tenant, while water is paid by the POA. No Seller Disclosure is available for the property.
Key Highlights
- 1,063 SF ground‑level corner unit
- Occupied exclusively by family members
- Yard, storage area, patio, and porch
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
$8,592
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
7.47%
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%
$171,840
$171.8K
Cap Rate 7%
$122,743
$122.7K
Cap Rate 9%
$95,467
$95.5K
Market Conditions
NOI Build-Up for 1,063 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
$16.6K $15.60/SF
− Vacancy
−$962 −$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%
$171,840
Cap Rate 7%
$122,743
Cap Rate 9%
$95,467
Alternative Uses
Best Use
Apartment 5plus
$122.7K
$107.4K – $143.2K
NOI $8,592 @ 7.0% cap · market cap 7.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$193.1K
$169.0K – $225.3K
NOI $13,517 @ 7.0% cap · market cap 11.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
850
Businesses Nearby
Explore this area
Business Placement
Demographics for 72227, AR
11,090
Population
5,700
Households
1.9
Avg Household Size
41
Median Age
55%
College-Educated
98%
High-School Grad
3.8 sq mi
ZIP Area
2,918
Density / Sq Mi
$73,533
Median Household Income
$52,565
Median Earnings
$1,035
Median Rent
$260,900
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - The corner unit includes a yard, storage area, patio, and installed kitchen appliances.
Where is this residential income property located?
The property is located at 6 Towne Park Ct #3 Little Rock, AR.
What is the asking price?
The asking price for this property is $115,000.
What are key features of this property?
This property features: 1,063 SF ground‑level corner unit; Occupied exclusively by family members; Yard, storage area, patio, and porch
