4905 School St · North Little Rock, AR 72117

$34,000

4 bd · 2.0 ba · 1,230 sqft · SingleFamily public records · 82 Days on market

Built 1941 6,098 sqft lot $28/sqft · 56% below area ↓ 12% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor special in North Little Rock. This 4-bedroom, 2 bath property is being sold as is and presents a great opportunity for the right buyer looking for their next project. The home is a burn out and will require significant work, so please use extreme caution when viewing. ENTER AT YOUR OWN RISK. This property is best suited for investors, builders, or buyers looking for a full renovation or redevelopment opportunity. Agents see remarks.

Key facts

• Full renovation
• Detached
• 6,098 sq ft lot

Tags

• FULL RENOVATION
• REDEVELOPMENT OPPORTUNITY
• DETACHED

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $34k.

Deal economics

• At list price, monthly cash flow is $705 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $34k).
• Recommended offer: $32k (6.0% below list) — sets the bar for market timing.
• Cap rate 33.5% vs local median 5.1% in North 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 (#24 in AR) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D+, crime F, amenities F.
• N. Little Rock School District (urban): math 21% / reading 26% proficiency, ranked #191 of 238 in AR (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 78 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 47% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $235 of loan paydown is wiped out by about $1k 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 + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($32k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1941 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $31,960 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 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 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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?
8. 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.
9. 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.
10. 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: 3.83% ✓
• Cap rate: 33.52%
• Cash-on-cash: 97.23%
• DSCR: 5.33
• GRM: 2.2

CMA / ARV

• ARV (median comp): $76,724
• List price: $34,000
• Delta: -55.69%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4909 School St	0.01mi	3/2.0 (-1)	1,252 (+2%)	2mo	$78,000	$62	90
4600 Atkins St	0.23mi	3/1.0 (-1)	1,214 (-1%)	2mo	$45,000	$37	77
412 Middle St	0.24mi	3/2.0 (-1)	1,289 (+5%)	6mo	$173,000	$134	71
4511 Haywood St	0.27mi	3/2.0 (-1)	1,340 (+9%)	3mo	$139,000	$104	65
207 Kay St	0.20mi	3/1.5 (-1)	1,152 (-6%)	14mo	$84,900	$74	62
4509 Haywood St	0.28mi	3/1.0 (-1)	1,130 (-8%)	3mo	$130,000	$115	62
702 Blossom St	0.58mi	4/1.0	1,223 (-1%)	10mo	$39,000	$32	60
208 Kay St	0.23mi	3/1.5 (-1)	1,131 (-8%)	14mo	$75,000	$66	58
424 Healy St	0.49mi	3/1.0 (-1)	1,122 (-9%)	4mo	$34,000	$30	50
500 Kay St	0.39mi	3/2.0 (-1)	1,344 (+9%)	14mo	$20,000	$15	49
5701 Alpha St	0.73mi	4/2.0	1,360 (+11%)	6mo	$7,000	$5	43
905 Roseclair Dr	0.74mi	3/1.0 (-1)	1,176 (-4%)	10mo	$105,000	$89	41

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 89.5%
• Equity multiple: 5.15×
• Total profit: $39,462
• Equity at exit: $5,070

10-year hold

• IRR: 92.5%
• Equity multiple: 10.71×
• Total profit: $92,476
• Equity at exit: $2,940

Cash invested: $9,520 (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 72117

• Home prices YoY: -30.4%
• Active inventory: 78
• Price-to-rent: 2.2×

Monthly cashflow live

• Estimated rent: $1,302 high
• Mortgage (P&I): −$178
• Tax from tax record: −$65 /mo · $779/yr
• Insurance: −$14
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $705

Break-even live

Break-even rent $410

Max offer price $34,000

Occupancy floor 41%

Sensitivity live

Price	-10% $724	-5% $715	+0% $705	+5% $695	+10% $686
Rent	-10% $602	-5% $653	+0% $705	+5% $756	+10% $808
Rate	-1.0pp $722	-0.5pp $714	base $705	+0.5pp $696	+1.0pp $687

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: $8,500
• Closing costs: $1,020
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4911 School St North Little Rock, AR	4.0	2.0	1223	$1,595	$1.30	14d	1	0.02mi
4820 Haywood St North Little Rock, AR	4.0	2.0	1223	$1,595	$1.30	14d	1	0.02mi
4912 School St North Little Rock, AR	3.0	1.0	1056	$950	$0.90	24d	1	0.04mi
4716 School St North Little Rock, AR	3.0	1.0	1347	$1,150	$0.85	44d	1	0.11mi
5204 Alpha St North Little Rock, AR	3.0	1.0	753	$850	$1.13	44d	1	0.54mi
4007 Rogers St North Little Rock, AR	4.0	2.0	1157	$1,595	$1.38	44d	1	0.59mi
717 Greenlea Dr North Little Rock, AR	3.0	1.0	912	$1,095	$1.20	44d	1	0.67mi
817 Greenlea Dr North Little Rock, AR	3.0	1.0	912	$1,195	$1.31	24d	1	0.72mi
908 Greenlea Dr North Little Rock, AR	3.0	1.0	912	$1,300	$1.43	21d	1	0.76mi
814 N G St North Little Rock, AR	3.0	2.0	1280	$1,100	$0.86	24d	1	1.12mi
3 Neal Pl North Little Rock, AR	3.0	1.0	1144	$975	$0.85	24d	1	1.14mi
3 Neal Pl North Little Rock, AR	3.0	1.0	1144	$975	$0.85	44d	1	1.14mi
2107 Muldrow Dr North Little Rock, AR	3.0	1.0	900	$1,015	$1.13	44d	1	1.30mi
6612 Whippoorwill Ln North Little Rock, AR	3.0	1.5	952	$1,075	$1.13	44d	1	1.34mi
6617 Whippoorwill Ln North Little Rock, AR	3.0	1.5	952	$995	$1.05	24d	1	1.35mi

Listing history 18 events

1. 2026-06-18
   days on market $34,000 Active 82 DOM
2. 2026-06-17
   days on market $34,000 Active 81 DOM
3. 2026-06-16
   days on market $34,000 Active 80 DOM
4. 2026-06-15
   days on market $34,000 Active 79 DOM
5. 2026-06-14
   days on market $34,000 Active 77 DOM
6. 2026-06-13
   days on market $34,000 Active 76 DOM
7. 2026-06-10
   days on market $34,000 Active 74 DOM
8. 2026-06-09
   days on market $34,000 Active 73 DOM
9. 2026-06-08
   days on market $34,000 Active 72 DOM
10. 2026-06-07
    days on market $34,000 Active 71 DOM
11. 2026-06-05
    days on market $34,000 Active 68 DOM
12. 2026-06-03
    days on market $34,000 Active 67 DOM
13. 2026-06-02
    days on market $34,000 Active 66 DOM
14. 2026-06-01
    days on market $34,000 Active 65 DOM
15. 2026-05-31
    days on market $34,000 Active 64 DOM
16. 2026-05-31
    days on market $34,000 Active 63 DOM
17. 2026-04-28
    price $35,000 445-char remark

    Show marketing remark (445 chars)

    Investor special in North Little Rock. This 4-bedroom, 2 bath property is being sold as is and presents a great opportunity for the right buyer looking for their next project. The home is a burn out and will require significant work, so please use extreme caution when viewing. ENTER AT YOUR OWN RISK. This property is best suited for investors, builders, or buyers looking for a full renovation or redevelopment opportunity. Agents see remarks.

18. 2026-03-28
    listed $40,000 New Listing 445-char remark

    Show marketing remark (445 chars)

    Investor special in North Little Rock. This 4-bedroom, 2 bath property is being sold as is and presents a great opportunity for the right buyer looking for their next project. The home is a burn out and will require significant work, so please use extreme caution when viewing. ENTER AT YOUR OWN RISK. This property is best suited for investors, builders, or buyers looking for a full renovation or redevelopment opportunity. Agents see remarks.

ⓘ 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: $779 · $65/mo
• Projected year-2 tax: $779 · $65/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 76% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,627
• − Mortgage interest: −$1,905
• − Property taxes: −$779
• − Insurance: −$968
• − Repairs & maintenance: −$1,250
• − Management: −$1,250
• − Depreciation: −$989
• Taxable income: $8,486
• Est. tax owed @ 24.0%: −$2,037
• After-tax cash flow: $6,422/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: N. Little Rock School District
• NCES district ID: 0510680
• Math proficiency: 21% ▼ -11.00%
• Reading proficiency: 26% ▼ -9.00%
• Median HH income: $38,325
• Composite: 19.69/100
• National rank: #8728
• State rank: #191 of 238 in AR

Livability — North Little Rock

• Score: 73/100
• State rank: #24
• US rank: #5452

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Little Rock, AR
• City population: 55,470
• Population (ZIP): 14,339

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 Black (63%)
• Race & ethnicity: Black 63% White 24% Two or more races 7% Hispanic / Latino 5%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Serbian 1% Slovak 1% Lithuanian 0%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 4%

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: ▼ -53.78%
• Current HPI: 123.3727
• Rent YoY: —
• Metro: —
• 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

-12.5% since first listed

2 events — show timeline

• 2026-04-28 Price Changed $35,000 CARMLS
• 2026-03-28 Listed $40,000 CARMLS

Property tax history

+4.9%/yr

Latest (2025): $779 · +13.6% YoY. Source: county tax records.