408 W 33rd St · North Little Rock, AR 72118

$154,900

3 bd · 3.0 ba · 2,354 sqft · SingleFamily public records · 421 Days on market

Built 1952 Est $299k · 48% under ↓ 6% 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 +28.9/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• Rent growth +3.9/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Check this out we have a Price Reduction - Conveniently located in the Parkhill neighborhood inside the North Little Rock City Limits is this completely renovated home - off of Camp Robinsion Rd Exit. The added bonuses including and not limiting to the multiple bathrooms, the den, the sunroom, and the built-in fireplace. This is a Fannie Mae Owned property. For additional information log on www. homepath. fanniemae.com to submit offers and for additional information.

Key facts

• Built 1952
• Listed 421 days

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $527 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $136k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.4% 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: Rents rising fast (+5.5%/yr); 105 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% 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).
• At $2,004/mo this rent would consume 49% of the median local household income ($50k/yr) (locally 1149% 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 $1k of loan paydown is wiped out by about $5k 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 + 5.5% rent growth), your $43k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 421 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y ago; this cycle's ask has dropped $130k (46%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $136,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 421 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1952 — 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. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.29% ✓
• Cap rate: 10.38%
• Cash-on-cash: 14.59%
• DSCR: 1.65
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $298,958
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
408 W 33rd St	0.00mi	3/3.0	2,354 (0%)	1mo	$155,000	$66	99
1008 W A Ave	0.13mi	3/2.0	2,365 (+0%)	12mo	$200,000	$85	80
809 W B Ave	0.07mi	4/3.0 (+1)	2,380 (+1%)	17mo	$320,000	$134	76
520 Cherry Hill Dr	0.32mi	4/2.5 (+1)	2,277 (-3%)	6mo	$205,000	$90	67
1017 Cherry Hill Dr	0.17mi	4/2.5 (+1)	2,533 (+8%)	12mo	$322,500	$127	63
1009 Cherry Hill Dr	0.15mi	4/3.0 (+1)	2,676 (+14%)	5mo	$350,000	$131	61
3112 N Magnolia St	0.41mi	3/2.0	2,213 (-6%)	9mo	$325,000	$147	59
3804 Ridge Rd	0.49mi	3/2.0	2,200 (-6%)	5mo	$265,000	$120	58
3101 N Olive St	0.46mi	3/2.0	2,300 (-2%)	15mo	$259,000	$113	58
229 E B Ave	0.73mi	3/2.0	2,252 (-4%)	2mo	$330,000	$147	53
3221 N Cypress St	0.50mi	3/2.0	2,162 (-8%)	8mo	$375,000	$173	53
3112 N Chandler St	0.22mi	3/2.0	2,106 (-10%)	22mo	$230,000	$109	50

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 · 5.47% rent growth · sell at horizon

5-year hold

• IRR: 7.8%
• Equity multiple: 1.31×
• Total profit: $13,599
• Equity at exit: $23,096

10-year hold

• IRR: 19.1%
• Equity multiple: 2.78×
• Total profit: $77,188
• Equity at exit: $13,393

Cash invested: $43,372 (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 72118

• Home prices YoY: -17.9%
• Rents YoY: 5.5%
• Active inventory: 105
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $2,004 high
• Mortgage (P&I): −$812
• Tax from tax record: −$179 /mo · $2,147/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$421
• Net cashflow: $527

Break-even live

Break-even rent $1,336

Max offer price $154,900

Occupancy floor 69%

Sensitivity live

Price	-10% $615	-5% $571	+0% $527	+5% $483	+10% $439
Rent	-10% $369	-5% $448	+0% $527	+5% $606	+10% $685
Rate	-1.0pp $605	-0.5pp $567	base $527	+0.5pp $487	+1.0pp $446

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: $38,725
• Closing costs: $4,647
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
524 W B Ave North Little Rock, AR	3.0	2.5	2830	$3,500	$1.24	44d	1	0.28mi
5 Cliffwood Cir North Little Rock, AR	3.0	2.0	1662	$1,195	$0.72	24d	1	0.62mi
3815 Idlewild Ave North Little Rock, AR	3.0	2.5	1925	$1,681	$0.87	24d	1	0.94mi
1313 Garland Ave North Little Rock, AR	3.0	2.0	1800	$1,500	$0.83	44d	1	1.09mi
4612 N Cypress St North Little Rock, AR	3.0	2.0	1636	$1,450	$0.89	44d	1	1.09mi
5109 N Cedar St North Little Rock, AR	4.0	2.0	2185	$1,595	$0.73	44d	1	1.43mi
1111 Parker St North Little Rock, AR	3.0	2.5	1719	$1,800	$1.05	21d	1	1.49mi

Listing history 22 events

1. 2026-02-02
   status Under Contract
2. 2026-01-12
   price $154,900
3. 2026-01-05
   status Back on Market
4. 2025-12-10
   status Pending (FC, SS, REO)
5. 2025-11-25
   status Back on Market
6. 2025-09-17
   status Pending (FC, SS, REO)
7. 2025-09-10
   price $164,900
8. 2025-07-30
   price $169,900
9. 2025-07-29
   status Price Change
10. 2025-07-10
    status Pending (FC, SS, REO)
11. 2025-06-20
    price $179,900
12. 2025-06-13
    price $184,900
13. 2025-05-12
    price $194,900
14. 2025-04-12
    price $199,900
15. 2025-03-11
    price $215,000
16. 2025-02-15
    price $235,000
17. 2025-01-03
    price $250,000
18. 2024-12-05
    price $255,000
19. 2024-09-17
    price $275,000
20. 2024-08-16
    listed $285,000 New Listing
21. 2022-09-21
    historical
22. 2022-09-10
    listed $165,000

ⓘ 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: $2,147 · $179/mo
• Projected year-2 tax: $2,147 · $179/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 18 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 9% 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: $24,045
• − Mortgage interest: −$8,677
• − Property taxes: −$2,147
• − Insurance: −$774
• − Repairs & maintenance: −$1,924
• − Management: −$1,924
• − Depreciation: −$4,506
• Taxable income: $4,093
• Est. tax owed @ 24.0%: −$982
• After-tax cash flow: $5,344/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
• County: Pulaski County · 372,764 people
• City population: 55,470
• Metro: Little Rock-North Little Rock-Conway, AR
• Population (ZIP): 22,913
• Household income: $49,559
• Rent vs Own: 48.8% rent · 51.2% own
• Severe rent burden: 1149.0

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: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: Black 42% White 42% Hispanic / Latino 11% Two or more races 5%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Lithuanian 2% Slovak 1% Italian 1%
• Foreign-born: 7% · Canada
• Languages at home: 89% English-only · Spanish 10%

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: ▼ -39.32%
• Current HPI: 180.6901
• Rent YoY: ▲ 5.47%
• 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

-6.1% since first listed

22 events — show timeline

• 2026-02-02 Pending — CARMLS
• 2026-01-12 Price Changed $154,900 CARMLS
• 2026-01-05 Relisted — CARMLS
• 2025-12-10 Pending — CARMLS
• 2025-11-25 Relisted — CARMLS
• 2025-09-17 Pending — CARMLS
• 2025-09-10 Price Changed $164,900 CARMLS
• 2025-07-30 Price Changed $169,900 CARMLS
• 2025-07-29 Relisted — CARMLS
• 2025-07-10 Pending — CARMLS
• 2025-06-20 Price Changed $179,900 CARMLS
• 2025-06-13 Price Changed $184,900 CARMLS
• 2025-05-12 Price Changed $194,900 CARMLS
• 2025-04-12 Price Changed $199,900 CARMLS
• 2025-03-11 Price Changed $215,000 CARMLS
• 2025-02-15 Price Changed $235,000 CARMLS
• 2025-01-03 Price Changed $250,000 CARMLS
• 2024-12-05 Price Changed $255,000 CARMLS
• 2024-09-17 Price Changed $275,000 CARMLS
• 2024-08-16 Listed $285,000 CARMLS
• 2022-09-21 Listing Removed — CARMLS
• 2022-09-10 Listed $165,000 CARMLS

Property tax history

+2.4%/yr

Latest (2025): $2,147 · +6.0% YoY. Source: county tax records.