Remodeled Two-Bedroom Residential Income
For Sale
$200,000
700 E 9th 10M Street, Little Rock, AR 72202
Residential, Traditional, Little Rock, AR
Property Size1,129 SF
Price / SF$177.15
Days on Market178
Property Features for 700 E 9th 10M Street
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 1, Bedroom 1, Bathroom 2
Patio and Porch features
Patio
Interior features
Washer-Stays, Window Treatments, Elevator
Exterior features
Patio
Fireplace
1
Accessibility
Accessible Elevator Installed
Appliances
Microwave, Refrigerator-Stays
Subdivision
QUAPAW TOWERS HPR
Lot features
Vista View
Directions
I-30 to downtown exit to 9th St to Ferry St
Standard status
Active
Size
1,129 SF
Taxes and HOA fees
Tax Description
Lot 10, Blk 0
Tax Annual Amount
1459
HOA Fee
$462 Monthly
Legal Description
Lot 10, Blk 0
Building Details
Year built
1967
Flooring type
Tile, Vinyl
Roof type
Flat
Architectural style
Other
Listing Agency:
IRealty Arkansas - Sherwood
(501) 392-6298
Listed By:
Michael Holmes
(501) 454-7285
Added: Mar 27
Changed: Sep 16
Last Checked: Sep 20 at 11:06AM
MLS# 26011792
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 1,129-square-foot condominium occupies the 10th floor of Quapaw Towers and includes two bedrooms, two full bathrooms, a living and dining area, and a private balcony. Remodeling is complemented by vinyl and tile flooring, window treatments, a fireplace, and an accessible elevator. The refrigerator and microwave remain with the unit, while the washer stays as well.
The living and dining spaces receive natural light through energy-efficient windows and a glass balcony door installed in 2022. The balcony faces the Arkansas Museum of Fine Arts and the downtown skyline. The property is located in Little Rock’s downtown area, with restaurants, museums, and entertainment nearby. Quapaw Towers was built in 1967 and has a flat roof.
The living and dining spaces receive natural light through energy-efficient windows and a glass balcony door installed in 2022. The balcony faces the Arkansas Museum of Fine Arts and the downtown skyline. The property is located in Little Rock’s downtown area, with restaurants, museums, and entertainment nearby. Quapaw Towers was built in 1967 and has a flat roof.
Key Highlights
- 1,129‑square‑foot condominium on the 10th floor
- Two bedrooms and two full bathrooms
- Private balcony with views of the Arkansas Museum of Fine Arts and downtown skyline
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
$9,125
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
4.56%
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%
$182,500
$182.5K
Cap Rate 7%
$130,357
$130.4K
Cap Rate 9%
$101,389
$101.4K
Market Conditions
NOI Build-Up for 1,129 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
$17.6K $15.60/SF
− Vacancy
−$1.0K −$0.90/SF
EGI
$16.6K $14.70/SF
− OpEx
−$7.5K −$6.61/SF
NOI
$9.1K $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%
$182,500
Cap Rate 7%
$130,357
Cap Rate 9%
$101,389
Alternative Uses
Best Use
Apartment 5plus
$130.4K
$114.1K – $152.1K
NOI $9,125 @ 7.0% cap · market cap 4.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$205.1K
$179.5K – $239.3K
NOI $14,357 @ 7.0% cap · market cap 7.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,927
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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Frequently Asked Questions
What type of property is this?
Residential income property - Two bedrooms, two full baths, and a private balcony define this upper-floor downtown condo.
Where is this residential income property located?
The property is located at 700 E 9th 10M Street Little Rock, AR.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: 1,129‑square‑foot condominium on the 10th floor; Two bedrooms and two full bathrooms; Private balcony with views of the Arkansas Museum of Fine Arts and downtown skyline
