515 Brookside Dr · Little Rock, AR 72205

$1,395,000

320 bd · 160.0 ba · 13,468 sqft · MultiFamily · 73 Days on market

Built 1974 Good condition 0.54 ac lot

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Why this score? — see what drove the C grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +23.6/30.0
• DSCR +7.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.1/10.0
• Condition / age +3.8/5.0
• Livability +3.7/5.0
• Rent growth +3.1/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 16 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Excellent investment opportunity in the heart of Midtown / Reservoir / close to UAMS, Park Plaza, and central Little Rock amenities. This well-maintained 16-unit apartment complex consists of all 2-bedroom, 1-bath units, each updated with modern finishes, consistent interior upgrades, and reliable existing tenancy. The property has strong current occupancy, updated interiors, and low-maintenance exterior improvements — perfect for an investor seeking stable cash flow with potential for additional upside. Total Units: 16 Unit Mix: All 2 Bed / 1 Bath Interior Updates: Newer interior paint throughout Vinyl plank flooring in every unit Refrigerator, dishwasher, and electric stove in

Key facts

• Close to uams
• Heart of midtown
• Updated interiors

Tags

• INVESTMENT OPPORTUNITY
• HEART OF MIDTOWN
• CLOSE TO UAMS
• UPDATED INTERIORS
• CLEAN WELL MAINTAINED GROUNDS

Property features AI

Finance

• Other: Property managed by The Lasley Company; Sixteen total rental units
• Financial info: Yearly lease options; Potential financing: FHA, Conventional, VA; Minimum 2-bedroom rent listed at $675; maximum listed at $800; Expenses included in some leases: maintenance/lawn care, utilities, trash, water/sewer, pest control

Exterior

• Parking: Parking pads; Garage parking for 4+ cars
• Utilities: Municipal electric; Public water; Public sewer; Cable TV available; Attic turbo vent
• Home design: Multi-family property (zoned Multi Fami); Approximately 13,468 building square feet; Approximately 0.54 acre lot
• Construction: Slab foundation; Composition roof
• Exterior features: Brick exterior; Dumpster on site; Paved roads; Level, cleared lot inside city limits; Located in a subdivision

Interior

• Kitchen: Free-standing stove; Electric range; Dishwasher; Refrigerator included
• Bedrooms: Sixteen 2-bedroom units
• Flooring: Luxury vinyl
• Bathrooms: Sixteen 1-bath units
• Heating & cooling: Central electric heating; Central electric cooling
• Interior features: Electric hot water heater; Window treatments; Sheet rock ceilings and walls; Luxury vinyl flooring
• Laundry & utility: Tenant pays electric

What this means for you Summary

Snapshot

• This is a 16 × 2-bed/1-bath units multifamily listed at $1.40M. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $2k ($26k/yr) — positive. Per door: $138/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($16k rent vs $1.40M).
• Recommended offer: $1.31M (6.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 4.1% in Little Rock — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 73/100 on livability (#22 in AR) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime F.
• Little Rock School District (urban): math 23% / reading 26% proficiency, ranked #183 of 238 in AR (top 77%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.4%/yr); 116 active listings in the ZIP; 1,006 units permitted in Pulaski County in 2024 (0 in 5+ unit buildings).
• At $15,538/mo this rent would consume 273% of the median local household income ($68k/yr) (locally 1073% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $10k of loan paydown is wiped out by about $42k of value loss. Plan a longer hold.
• Pulaski County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($1.31M) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,311,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
9. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
10. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.11% ✓
• Cap rate: 8.56%
• Cash-on-cash: 8.09%
• DSCR: 1.36
• GRM: 7.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.4% rent growth · sell at horizon

5-year hold

• IRR: -6.6%
• Equity multiple: 0.76×
• Total profit: $-94,253
• Equity at exit: $207,999

10-year hold

• IRR: 2.3%
• Equity multiple: 1.16×
• Total profit: $63,217
• Equity at exit: $120,614

Cash invested: $390,600 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 92 Strongly Landlord-Friendly
• State Arkansas: 92 Strongly Landlord-Friendly · R+14
• County: — inherits STATE
• City: — inherits STATE

Only US state where non-payment is criminal. Strongly landlord-favorable; very few tenant protections.

Methodology + full state rankings →

ZIP-level market 72205

• Rents YoY: 2.4%
• Active inventory: 116
• Price-to-rent: 119.7×

Monthly cashflow live

• Estimated rent: $15,538 high
• Mortgage (P&I): −$7,316
• Tax est. 1.5%: −$1,744 /mo · $20,925/yr
• Insurance: −$581
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,263
• Net cashflow: $2,208

Break-even live

Break-even rent $12,743

Max offer price $1,395,000

Occupancy floor 81%

16-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 16× units	2	1	$15,536
Total (16 units)			$15,538

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $348,750
• Closing costs: $41,850
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $1,395,000 Active 73 DOM
2. 2026-06-17
   days on market $1,395,000 Active 72 DOM
3. 2026-06-16
   days on market $1,395,000 Active 71 DOM
4. 2026-06-15
   days on market $1,395,000 Active 70 DOM
5. 2026-06-14
   days on market $1,395,000 Active 68 DOM
6. 2026-06-13
   days on market $1,395,000 Active 67 DOM
7. 2026-06-10
   days on market $1,395,000 Active 65 DOM
8. 2026-06-09
   days on market $1,395,000 Active 64 DOM
9. 2026-06-08
   days on market $1,395,000 Active 63 DOM
10. 2026-06-05
    days on market $1,395,000 Active 59 DOM
11. 2026-06-03
    days on market $1,395,000 Active 58 DOM
12. 2026-06-02
    days on market $1,395,000 Active 57 DOM
13. 2026-06-01
    days on market $1,395,000 Active 56 DOM
14. 2026-05-31
    days on market $1,395,000 Active 55 DOM
15. 2026-05-31
    days on market $1,395,000 Active 54 DOM
16. 2026-05-20
    status Back on Market
17. 2026-01-24
    status Under Contract
18. 2025-12-11
    listed $1,395,000 New Listing
19. 2023-02-01
    historical
20. 2022-12-09
    listed $995,000 New Listing

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥111°F today · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 10% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $186,456
• − Mortgage interest: −$78,142
• − Property taxes: −$20,925
• − Insurance: −$12,094
• − Repairs & maintenance: −$14,916
• − Management: −$14,916
• − Depreciation: −$40,582
• Taxable income: $4,881
• Est. tax owed @ 24.0%: −$1,171
• After-tax cash flow: $25,324/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 5 photos

Good 75/100 Cosmetic rehab

This 16-unit apartment complex is well-maintained with updated interiors and strong current occupancy. It offers a good investment opportunity with potential for additional upside.

Value-add opportunities

• Both Paint exterior and replace any damaged siding — Enhances curb appeal and property value.
• Resale Replace countertops and cabinetry — Modernizes the kitchen and improves aesthetics.
• Rental Install new flooring in bathrooms — Improves the rental experience and attracts tenants.
• Both Upgrade HVAC system — Improves comfort and energy efficiency, attracting both buyers and renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior and replace any damaged siding — Enhances curb appeal and property value. ↑
• Resale Replace countertops and cabinetry — Modernizes the kitchen and improves aesthetics. ↑
• Rental Install new flooring in bathrooms — Improves the rental experience and attracts tenants. ↑
• Both Upgrade HVAC system — Improves comfort and energy efficiency, attracting both buyers and renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Little Rock School District
• NCES district ID: 0509000
• Math proficiency: 23% ▼ -12.00%
• Reading proficiency: 26% ▼ -8.00%
• Median HH income: $43,346
• Composite: 21.0/100
• National rank: #8457
• State rank: #183 of 238 in AR

Livability — Little Rock

• Score: 73/100
• State rank: #22
• US rank: #5295

Category grades

Amenities C+ Commute A+ Cost of living A+ Crime F Employment C Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Little Rock, AR
• County: Pulaski County · 372,764 people
• City population: 218,896
• Metro: Little Rock-North Little Rock-Conway, AR
• Population (ZIP): 23,043
• Household income: $68,415
• Rent vs Own: 47.2% rent · 52.8% own
• Severe rent burden: 1073.0

Population outlook (Pulaski County) Hauer SSP2

• Today (2025): 415,378 people
• By 2030: 423,720 · +2.0%
• By 2040: 435,182 · +4.8%
• By 2050: 440,904 · +6.1%
• By 2075: 445,521 · +7.3%
• By 2100: 419,173 · +0.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Black 26% Two or more races 4% Hispanic / Latino 3% Asian 3%
• Common ancestry: Italian 5% Slovak 3% Lithuanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 3% Tagalog/Filipino 1% Other Indo-European 1%

Political lean MEDSL · Pulaski

• 2024 margin: Strong D (+22.1) · D 59.8% · R 37.7% · Other 2.5%
• 2008→2024 swing: +10.6pp toward D · 2008: 11.6pp · 2024: 22.1pp
• All cycles: 2024: D+22.1 2020: D+22.5 2016: D+17.9 2012: D+11.4 2008: D+11.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -243.61%
• Current HPI: 215.0083
• Rent YoY: ▲ 2.40%
• Metro: Little Rock-North Little Rock-Conway, AR
• State GDP YoY: ▲ 3.80%
• F500 in state: 10

Industry mix (Fortune 500 HQ in AR)

Industry	F500 HQs	Revenue
▸Retail	1	$681B
▸Food / Agriculture	1	$53B
▸Retail / Energy	1	$22B
▸Transportation / Logistics	1	$12B
▸Energy	1	$4B

Price history

+40.2% since first listed

5 events — show timeline

• 2026-05-20 Relisted — CARMLS
• 2026-01-24 Pending — CARMLS
• 2025-12-11 Listed $1,395,000 CARMLS
• 2023-02-01 Listing Removed — CARMLS
• 2022-12-09 Listed $995,000 CARMLS