Residential Income Condo with
For Sale
$115,000
6 Towne Park Ct #3, Little Rock, AR 72227
Residential, Traditional, Little Rock, AR
Property Size1,063 SF
Price / SF$108.18
Days on Market28
Property Features for 6 Towne Park Ct #3
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1, Den, Bedroom 2, Bedroom 1, Laundry Room
Patio and Porch features
Patio, Porch
Interior features
Washer Connection, Dryer Connection-Electric, Water Heater-Electric
Exterior features
Patio, Porch, Outside Storage Area, Guttering
Fireplace
1
Appliances
Free-Standing Stove, Microwave, Electric Range, Surface Range, Dishwasher
Subdivision
TOWNE PARK
Lot features
Level, Corner Lot, Extra Landscaping, In Subdivision
Directions
Rodney Parham East to left onto Treasure Hills then left into the complex, take the first right and follow around the circle, when you complete circle and turn left, the unit #3 will be on your right front corner
Standard status
Active
Size
1,063 SF
Taxes and HOA fees
Tax Description
Lot 3
Tax Annual Amount
772
HOA Fee
$250 Monthly
Legal Description
Lot 3
Building Details
Year built
1982
Floors in Building
1
Flooring type
Wood, Tile
Roof type
Shingle
Architectural style
Other
Additional Structures
Storage
Listing Agency:
McLellan & Associates Real Estate Group
(501) 823-3649
Listed By:
Stan McLellan
(501) 580-3649
Added: Aug 12
Changed: Sep 3
Last Checked: Sep 8 at 4:06AM
MLS# 26032981
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 condominium was built in 1982 and includes two bedrooms, two bathrooms, a den, and a laundry room. Interior features include tile and wood flooring, an electric water heater, washer and dryer connections, and a fireplace. The kitchen is equipped with a free-standing stove, electric range, microwave, and dishwasher, with the refrigerator, microwave, and electric stove conveying with the property.
Exterior features include a patio, porch, outside storage area, and guttering. The unit is vacant and includes both front and rear? porch?
Exterior features include a patio, porch, outside storage area, and guttering. The unit is vacant and includes both front and rear? porch?
Key Highlights
- 1,063 SF condominium with two bedrooms and two bathrooms
- Vacant unit with a den and laundry room
- Refrigerator, microwave, and electric stove convey
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
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Vacant condominium with two bedrooms, two bathrooms, a den, and included 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 condominium with two bedrooms and two bathrooms; Vacant unit with a den and laundry room; Refrigerator, microwave, and electric stove convey
