104 Hiawatha Dr · Little Rock, AR 72205

$120,000

3 bd · 2.0 ba · 1,448 sqft · SingleFamily public records · 1 Days on market

Built 1959 0.31 ac lot $83/sqft · 46% below area Est $223k · 46% under

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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 +24.7/30.0
• ARV discount +15.0/15.0
• DSCR +8.0/10.0
• 1% rule +6.6/10.0
• Livability +3.7/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Mid Towne, close to everything. Antique brick home remodeled in 2016. New roof 2014. Master bath with oversized walk-in shower and hall bath all new tile. Updated fixtures. Laminate wood floors. 1 car carport with extra concrete drive and extra parking pad. Newer storage shed. Sellers will consider a painting allowance for qualified buyer.

Key facts

• New tile
• Mid-towne area
• Updated fixtures

Tags

• MID-TOWNE AREA
• MARKHAM MANOR SUBDIVISION
• NEW ROOF
• OVERSIZED WALK-IN SHOWER
• NEW TILE
• UPDATED FIXTURES

Property features AI

Finance

• Other: Lot size approximately 75 x 182 (about 0.31 acre)
• Financial info: Cash financing indicated

Exterior

• Parking: Carport for 1 car
• Security: Insulated windows and doors
• Utilities: Public sewer; Public water; Municipal electric service (including Entergy); Natural gas
• Home design: Inside city limits; Located in a subdivision; Lot includes sloped and level areas, up slope
• Construction: Composition roof; Slab foundation
• Exterior features: Brick exterior; Patio; Porch; Fully fenced yard; Paved road access

Interior

• Kitchen: Free-standing stove; Electric range; Dishwasher; Garbage disposal
• Bedrooms: Great Room (additional living area); Laundry (room listed separately)
• Flooring: Tile; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heat (gas); Central electric cooling
• Interior features: Washer and dryer connections (both gas and electric); Gas water heater; Ceiling fans; Walk-in shower; Breakfast bar; Ceramic tile kitchen countertops; Sheetrock walls and ceilings
• Laundry & utility: Washer connection; Dryer connections (gas and electric)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $251 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Cap rate 8.8% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 48% 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 $830 of loan paydown is wiped out by about $4k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 12y 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: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $120,000

Questions for the listing agent

1. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.16% ✓
• Cap rate: 8.81%
• Cash-on-cash: 8.98%
• DSCR: 1.40
• GRM: 7.2

CMA / ARV

• ARV (median comp): $222,593
• List price: $120,000
• Delta: -46.09%
• 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
8309 Red Oak Ln	0.32mi	3/2.0	1,527 (+6%)	4mo	$220,150	$144	72
6909 Briarwood	0.57mi	3/2.0	1,410 (-3%)	3mo	$220,500	$156	67
8508 N Rodney Parham	0.47mi	3/2.0	1,335 (-8%)	3mo	$161,000	$121	62
921 N Bryan St	0.74mi	3/2.0	1,424 (-2%)	2mo	$225,000	$158	61
308 Cherokee Cir	0.17mi	2/1.5 (-1)	1,242 (-14%)	1mo	$209,000	$168	61
822 Mellon St	0.71mi	3/2.0	1,401 (-3%)	3mo	$215,000	$153	59
12 Serenity Dr	0.65mi	3/2.0	1,368 (-6%)	2mo	$174,900	$128	58
12 Tomahawk Rd	0.52mi	3/1.5	1,614 (+12%)	3mo	$207,000	$128	52
615 Bryan St	0.60mi	3/1.5	1,337 (-8%)	7mo	$235,000	$176	52
8806 Mayflower Rd	0.66mi	3/2.0	1,620 (+12%)	6mo	$159,000	$98	45
7023 H St	0.73mi	3/2.0	1,576 (+9%)	7mo	$165,000	$105	45
8815 Cloverhill	0.71mi	4/1.5 (+1)	1,313 (-9%)	4mo	$199,500	$152	42

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 · 2.4% rent growth · sell at horizon

5-year hold

• IRR: -3.4%
• Equity multiple: 0.87×
• Total profit: $-4,238
• Equity at exit: $17,892

10-year hold

• IRR: 5.6%
• Equity multiple: 1.41×
• Total profit: $13,671
• Equity at exit: $10,375

Cash invested: $33,600 (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: 7.2×

Monthly cashflow live

• Estimated rent: $1,392 high
• Mortgage (P&I): −$629
• Tax from tax record: −$169 /mo · $2,028/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$292
• Net cashflow: $251

Break-even live

Break-even rent $1,074

Max offer price $120,000

Occupancy floor 77%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
101 Hiawatha Dr Little Rock, AR	3.0	1.5	1251	$1,250	$1.00	43d	1	0.02mi
1 Fair Hill Cir Little Rock, AR	2.0	2.0	1100	$1,500	$1.36	43d	1	0.09mi
8120 W Markham St Unit 2 Little Rock, AR	2.0	1.5	950	$950	$1.00	23d	1	0.25mi
8120 W Markham St Unit 2 Little Rock, AR	2.0	1.5	1000	$950	$0.95	43d	1	0.25mi
801 S Rodney Parham Rd Little Rock, AR	1.0–2.0	1.0–2.0	886	$900	$1.02	14d	10	0.32mi
13 Gregory Ln Little Rock, AR	4.0	2.0	1784	$1,650	$0.92	18d	1	0.57mi
7204 Marguerite Ln Little Rock, AR	3.0	1.5	1192	$1,455	$1.22	43d	1	0.59mi
7001 Bluebird Dr Little Rock, AR	3.0	2.0	1572	$3,000	$1.91	43d	1	0.60mi
8700 Riley Dr Apt 610 Little Rock, AR	2.0	2.5	1600	$4,500	$2.81	43d	1	0.60mi
8700 Riley Dr Apt 626 Little Rock, AR	2.0	2.0	1114	$3,850	$3.46	43d	1	0.60mi
6 Brookside Cir Little Rock, AR	3.0	2.0	1700	$1,695	$1.00	23d	1	0.78mi
7318 L St Little Rock, AR	3.0	2.0	1396	$1,595	$1.14	23d	1	0.80mi
1014 N Coolidge St Little Rock, AR	3.0	2.0	1163	$1,478	$1.27	23d	1	0.81mi
9007 Cloverhill Rd Little Rock, AR	3.0	2.0	1270	$1,395	$1.10	43d	1	0.88mi
13 Rosemunn Dr Little Rock, AR	2.0	1.5	992	$895	$0.90	43d	1	0.89mi
320 Nebling Rd Unit B Little Rock, AR	2.0	1.5	1110	$995	$0.90	43d	1	0.90mi
51 Wolfbridge Lop Little Rock, AR	3.0	3.0	1497	$1,700	$1.14	21d	1	0.92mi
517 Chickadee Dr Unit F Little Rock, AR	2.0	1.5	1100	$1,100	$1.00	18d	1	0.93mi
517 Chickadee Dr Unit A Little Rock, AR	2.0	1.5	1100	$1,400	$1.27	43d	1	0.93mi
607 Chickadee Dr Unit 2 Little Rock, AR	2.0	1.5	1000	$995	$0.99	23d	1	0.95mi
1500 Parham Pointe Dr Little Rock, AR	1.0–2.0	1.0–2.0	941	$1,300	$1.38	18d	5	0.95mi
6408 Blue Bird Dr Unit A Little Rock, AR	2.0	1.0	1025	$1,000	$0.98	43d	1	0.97mi
7701 Illinois St Little Rock, AR	3.0	1.0	1000	$1,450	$1.45	43d	1	0.98mi
7420 Illinois St Little Rock, AR	3.0	1.0	1275	$1,495	$1.17	23d	1	1.03mi
7111 Indiana Ave Little Rock, AR	2.0	2.0	980	$882	$0.90	14d	9	1.08mi
8 Towne Park Ct #10 Little Rock, AR	2.0	2.0	1061	$975	$0.92	43d	1	1.15mi
7575 Cantrell Rd Little Rock, AR	1.0–3.0	1.0–2.5	907	$1,050	$1.16	14d	8	1.17mi
8110 Alvin Ln Little Rock, AR	3.0	2.0	1500	$1,595	$1.06	14d	1	1.23mi
6838 Cantrell Rd Little Rock, AR	1.0–2.0	1.0–1.5	777	$890	$1.14	14d	3	1.27mi
709 N Buchanan St Little Rock, AR	3.0	2.0	1154	$1,595	$1.38	43d	1	1.30mi
5709 C St Unit 5711 Little Rock, AR	2.0	1.5	948	$1,250	$1.32	23d	1	1.32mi
225 Keightley Dr Little Rock, AR	2.0	2.0	930	$1,100	$1.18	43d	1	1.33mi
101 Ellis Dr Unit D Little Rock, AR	2.0	1.0	904	$925	$1.02	23d	1	1.35mi
319 Oak Ln Little Rock, AR	3.0	2.0	1484	$1,481	$1.00	43d	1	1.35mi
101 Ellis Dr Little Rock, AR	2.0	1.5	904	$925	$1.02	23d	1	1.35mi
1511 S Cleveland St Little Rock, AR	3.0	2.0	1200	$1,295	$1.08	23d	1	1.36mi
5618 B St Little Rock, AR	2.0	2.0	1100	$995	$0.90	21d	1	1.37mi
5618 B St Unit 1 Little Rock, AR	2.0	2.0	1100	$1,050	$0.95	43d	1	1.37mi
9409 Cerelle Dr Little Rock, AR	3.0	1.5	1432	$1,375	$0.96	23d	1	1.38mi
9910 Brooks Ln Little Rock, AR	3.0	2.0	1140	$1,450	$1.27	43d	1	1.38mi

Listing history 15 events

1. 2026-05-07
   status Under Contract 417-char remark
2. 2026-05-06
   listed $120,000 New Listing 417-char remark
3. 2022-01-11
   status Under Contract 341-char remark

   Show marketing remark (341 chars)

   Mid Towne, close to everything. Antique brick home remodeled in 2016. New roof 2014. Master bath with oversized walk-in shower and hall bath all new tile. Updated fixtures. Laminate wood floors. 1 car carport with extra concrete drive and extra parking pad. Newer storage shed. Sellers will consider a painting allowance for qualified buyer.

4. 2022-01-10
   soldstatus $162,500 Sold 341-char remark

   Show marketing remark (341 chars)

   Mid Towne, close to everything. Antique brick home remodeled in 2016. New roof 2014. Master bath with oversized walk-in shower and hall bath all new tile. Updated fixtures. Laminate wood floors. 1 car carport with extra concrete drive and extra parking pad. Newer storage shed. Sellers will consider a painting allowance for qualified buyer.

5. 2021-10-08
   historical Take Backups 341-char remark

   Show marketing remark (341 chars)

   Mid Towne, close to everything. Antique brick home remodeled in 2016. New roof 2014. Master bath with oversized walk-in shower and hall bath all new tile. Updated fixtures. Laminate wood floors. 1 car carport with extra concrete drive and extra parking pad. Newer storage shed. Sellers will consider a painting allowance for qualified buyer.

6. 2021-10-03
   price $162,500 341-char remark

   Show marketing remark (341 chars)

   Mid Towne, close to everything. Antique brick home remodeled in 2016. New roof 2014. Master bath with oversized walk-in shower and hall bath all new tile. Updated fixtures. Laminate wood floors. 1 car carport with extra concrete drive and extra parking pad. Newer storage shed. Sellers will consider a painting allowance for qualified buyer.

7. 2021-08-08
   listed $165,000 New Listing 341-char remark

   Show marketing remark (341 chars)

   Mid Towne, close to everything. Antique brick home remodeled in 2016. New roof 2014. Master bath with oversized walk-in shower and hall bath all new tile. Updated fixtures. Laminate wood floors. 1 car carport with extra concrete drive and extra parking pad. Newer storage shed. Sellers will consider a painting allowance for qualified buyer.

8. 2021-03-09
   historical
9. 2021-01-29
   listed $165,000 New Listing
10. 2016-08-01
    soldstatus $122,500
11. 2016-07-28
    soldstatus $122,500 Sold
12. 2016-06-17
    historical Take Backups
13. 2016-06-06
    listed $122,500 New Listing
14. 2014-11-18
    historical
15. 2014-10-01
    listed $114,900

ⓘ 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: $2,028 · $169/mo
• Projected year-2 tax: $2,028 · $169/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 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥111°F today · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 11% 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: $16,704
• − Mortgage interest: −$6,722
• − Property taxes: −$2,028
• − Insurance: −$600
• − Repairs & maintenance: −$1,336
• − Management: −$1,336
• − Depreciation: −$3,491
• Taxable income: $1,190
• Est. tax owed @ 24.0%: −$286
• After-tax cash flow: $2,731/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): 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

+4.4% since first listed

15 events — show timeline

• 2026-05-07 Pending — CARMLS
• 2026-05-06 Listed $120,000 CARMLS
• 2022-01-11 Pending — CARMLS
• 2022-01-10 Sold (MLS) $162,500 CARMLS
• 2021-10-08 Contingent — CARMLS
• 2021-10-03 Price Changed $162,500 CARMLS
• 2021-08-08 Listed $165,000 CARMLS
• 2021-03-09 Listing Removed — CARMLS
• 2021-01-29 Listed $165,000 CARMLS
• 2016-08-01 Sold (Public Records) $122,500 Public Records
• 2016-07-28 Sold (MLS) $122,500 CARMLS
• 2016-06-17 Contingent — CARMLS
• 2016-06-06 Listed $122,500 CARMLS
• 2014-11-18 Listing Removed — CARMLS
• 2014-10-01 Listed $114,900 CARMLS

Property tax history

+2.5%/yr

Latest (2025): $2,028 · +0.0% YoY. Source: county tax records.