1801 Bishop Warren Dr · Little Rock, AR 72204

$59,500

2 bd · 1.0 ba · 862 sqft · SingleFamily public records · 66 Days on market

Built 1948 3,484 sqft lot Est $85k · 30% under ↓ 8% since listing

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.7/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Great investment opportunity or starter home in the heart of Little Rock! This 2-bedroom, 1-bath property offers steady rental income with a tenant currently in place tenant is willing to move, giving buyers flexibility to keep it as a cash-flowing rental or renovate for resale/owner occupancy. Home features a functional layout, low-maintenance exterior, and convenient access to UALR, shopping, and major city routes. Property sold as-is, no repairs by seller.

Key facts

• Convenient access
• Functional layout
• 3,484 sq ft lot

Tags

• INVESTMENT OPPORTUNITY
• FUNCTIONAL LAYOUT
• LOW MAINTENANCE EXTERIOR
• CONVENIENT ACCESS

🏷️ Possibly a rental listed for sale. The $59,500 price doesn't fit this home's estimated sale value (~$85,338) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $438 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $56k (6.0% below list) — sets the bar for market timing.
• Cap rate 15.1% 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 fast (+4.9%/yr); 190 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 48% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,006 units permitted in Pulaski County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $411 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 4.9% rent growth), your $17k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($56k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $55,930 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.70% ✓
• Cap rate: 15.12%
• Cash-on-cash: 31.52%
• DSCR: 2.40
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $85,338
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2401 S Pine St	0.39mi	2/1.0	896 (+4%)	4mo	$15,000	$17	72
1019 Adams St	0.57mi	2/1.0	840 (-3%)	1mo	$86,000	$102	68
4712 W 24th St	0.49mi	2/1.0	810 (-6%)	8mo	$65,000	$80	60
2013 S Maple St	0.35mi	2/1.0	936 (+9%)	12mo	$8,000	$9	60
4307 W 10th St	0.53mi	2/1.0	828 (-4%)	13mo	$82,000	$99	58
3407 W 12 St	0.60mi	2/1.0	922 (+7%)	6mo	$30,000	$33	56
3224 W 13th St	0.65mi	2/1.0	870 (+1%)	18mo	$100,000	$115	53
2323 S Valmar	0.56mi	3/1.0 (+1)	784 (-9%)	6mo	$16,000	$20	49
2119 S Harrison St	0.71mi	3/1.0 (+1)	930 (+8%)	1mo	$125,000	$134	48
4503 W 29th St	0.70mi	2/1.0	756 (-12%)	2mo	$35,000	$46	45
4624 W 29th St	0.72mi	2/1.0	971 (+13%)	1mo	$100,000	$103	45
1912 Booker St	0.73mi	2/1.0	816 (-5%)	16mo	$111,000	$136	44

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 4.91% rent growth · sell at horizon

5-year hold

• IRR: 28.4%
• Equity multiple: 2.21×
• Total profit: $20,196
• Equity at exit: $8,872

10-year hold

• IRR: 36.9%
• Equity multiple: 4.71×
• Total profit: $61,871
• Equity at exit: $5,144

Cash invested: $16,660 (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 72204

• Home prices YoY: -21.5%
• Rents YoY: 4.9%
• Active inventory: 190
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,012 high
• Mortgage (P&I): −$312
• Tax from tax record: −$25 /mo · $302/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$213
• Net cashflow: $438

Break-even live

Break-even rent $458

Max offer price $59,500

Occupancy floor 52%

Sensitivity live

Price	-10% $471	-5% $454	+0% $438	+5% $421	+10% $404
Rent	-10% $358	-5% $398	+0% $438	+5% $478	+10% $518
Rate	-1.0pp $468	-0.5pp $453	base $438	+0.5pp $422	+1.0pp $406

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: $14,875
• Closing costs: $1,785
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4319 W 17th St Little Rock, AR	2.0	1.0	957	$950	$0.99	44d	1	0.13mi
4304 W 22nd St Little Rock, AR	2.0	1.0	896	$895	$1.00	44d	1	0.25mi
1320 Adams St Little Rock, AR	3.0	1.0	1026	$1,025	$1.00	44d	1	0.41mi
4613 W 23rd St Unit B Little Rock, AR	2.0	1.0	650	$1,200	$1.85	24d	1	0.44mi
3705 W 12th St Unit B Little Rock, AR	1.0	1.0	598	$650	$1.09	44d	1	0.46mi
2421 S Oak St Little Rock, AR	3.0	1.0	1092	$950	$0.87	22d	1	0.48mi
1205 Valmar St Little Rock, AR	2.0	1.0	1100	$1,199	$1.09	44d	1	0.54mi
2300 S Martin St Little Rock, AR	2.0	1.0	840	$795	$0.95	24d	1	0.57mi
2701 Abigail St Little Rock, AR	3.0	1.0	1098	$1,195	$1.09	24d	1	0.57mi
1918 Allis St Little Rock, AR	2.0	1.0	868	$895	$1.03	15d	1	0.60mi
1822 Booker St Little Rock, AR	3.0	2.0	1076	$1,195	$1.11	24d	1	0.72mi
3109 W 11th St Little Rock, AR	3.0	2.0	1055	$1,295	$1.23	44d	1	0.77mi
3204 Maryland Ave Little Rock, AR	3.0	1.0	921	$1,095	$1.19	44d	1	0.82mi
610 S Maple St Unit A Little Rock, AR	2.0	1.0	850	$825	$0.97	24d	1	0.82mi
901 Johnson St Unit B Little Rock, AR	1.0	1.0	800	$695	$0.87	44d	1	0.87mi
901 S Harrison St Little Rock, AR	2.0	1.0	1000	$980	$0.98	20d	1	0.91mi
1100 Fair Park Blvd Apt 7 Little Rock, AR	1.0	1.0	636	$550	$0.86	22d	1	0.98mi
1100 Fair Park Blvd Little Rock, AR	1.0	1.0	636	$550	$0.86	24d	2	0.98mi
422 S Brown St Little Rock, AR	1.0	1.0	550	$725	$1.32	24d	1	1.03mi
306 S Valentine St Little Rock, AR	1.0	1.0	650	$825	$1.27	44d	1	1.08mi
1809 S Buchanan St Little Rock, AR	2.0	1.0	974	$850	$0.87	22d	1	1.08mi
300 S Valentine St Ste 3 Little Rock, AR	1.0	1.0	605	$1,095	$1.81	44d	1	1.09mi
3825 W Markham St Little Rock, AR	2.0	1.0	950	$1,095	$1.15	44d	1	1.14mi
2324 W Daisy L Gatson Bates Dr Unit 2 Little Rock, AR	2.0	1.0	881	$1,050	$1.19	24d	1	1.16mi
2324 W Daisy L Gatson Bates Dr Unit 1 Little Rock, AR	2.0	1.0	881	$1,095	$1.24	44d	1	1.16mi
408 Booker St Little Rock, AR	2.0	2.0	936	$1,350	$1.44	44d	1	1.16mi
408 S Booker St Unit B Little Rock, AR	1.0	1.0	675	$850	$1.26	44d	1	1.16mi
3409 W Markham St Little Rock, AR	1.0	1.0	950	$995	$1.05	24d	1	1.21mi
2200 Dennison St Little Rock, AR	3.0	1.5	1080	$1,000	$0.93	44d	1	1.22mi
128 S Woodrow St Unit N Little Rock, AR	1.0	1.0	765	$895	$1.17	44d	1	1.29mi
121 N Jackson St Little Rock, AR	1.0	1.0	700	$950	$1.36	44d	1	1.32mi
1008 Kavanaugh Blvd Unit 3 Little Rock, AR	1.0	1.0	738	$795	$1.08	44d	1	1.36mi
1008 Kavanaugh Blvd Little Rock, AR	1.0	1.0	738	$795	$1.08	22d	1	1.36mi
502 Rice St Little Rock, AR	2.0	1.0	648	$925	$1.43	24d	1	1.39mi
907 S Park St Little Rock, AR	2.0	2.0	950	$2,100	$2.21	24d	1	1.39mi
1318 S Summit St Little Rock, AR	2.0	1.0	864	$1,050	$1.22	22d	1	1.40mi
1320 S Summit St Little Rock, AR	2.0	1.0	864	$1,050	$1.22	22d	1	1.40mi
217 Thayer St Apt B Little Rock, AR	1.0	1.0	750	$1,500	$2.00	24d	1	1.45mi
4507 Woodlawn Dr Little Rock, AR	1.0	1.0	850	$750	$0.88	44d	2	1.48mi
4000 Woodlawn Dr Unit B Little Rock, AR	1.0	1.0	540	$900	$1.67	24d	1	1.49mi

Listing history 3 events

1. 2026-02-04
   status Under Contract
2. 2025-12-18
   price $59,500
3. 2025-12-01
   listed $65,000 New Listing

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

Tax reassessment forecast AR · Resets to sale price

• Current annual tax: $302 · $25/mo
• Projected year-2 tax: $381 · $32/mo
• Expected delta: +$78/yr (+$7/mo · 25.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥110°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 10% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,146
• − Mortgage interest: −$3,333
• − Property taxes: −$302
• − Insurance: −$298
• − Repairs & maintenance: −$972
• − Management: −$972
• − Depreciation: −$1,731
• Taxable income: $4,539
• Est. tax owed @ 24.0%: −$1,089
• After-tax cash flow: $4,162/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.

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): 30,525
• Household income: $40,882
• Rent vs Own: 41.5% rent · 58.5% own
• Severe rent burden: 1553.0

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: Predominantly Black (66%)
• Race & ethnicity: Black 66% White 18% Hispanic / Latino 12% Two or more races 6%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Slovak 1%
• Foreign-born: 7% · Canada, Vietnam
• Languages at home: 89% English-only · Spanish 9% Vietnamese 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: ▼ -47.17%
• Current HPI: 172.3977
• Rent YoY: ▲ 4.91%
• 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

-8.5% since first listed

3 events — show timeline

• 2026-02-04 Pending — CARMLS
• 2025-12-18 Price Changed $59,500 CARMLS
• 2025-12-01 Listed $65,000 CARMLS

Property tax history

+17.4%/yr

Latest (2025): $302 · +7.7% YoY. Source: county tax records.