6 Rental Home Package · North Little Rock, AR 72114

$490,000

12 bd · None ba · 7,188 sqft · MultiFamily · 27 Days on market

Fair condition

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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
• Appreciation +3.6/10.0
• Rent growth +3.3/5.0
• Condition / age +2.2/5.0
• Schools +2.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

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 featuring a package of five single-family rental homes and one duplex located throughout North Little Rock, Little Rock, and Maumelle. All properties are tenant occupied, providing immediate rental income for investors. Portfolio includes Duplex at 3-4 Southland Cove, 618 Mills Street, 2524 Parker Street, 1713 W. 15th Street, 1715 W. 15th Street, and 2316 W. 3rd Street. Properties primarily consist of 2 bedroom / 1 bathroom floor plans. The property at 2316 W. 3rd Street also includes an additional 1 bedroom / 1 bathroom apartment underneath the main home with value-add potential through renovation. Great opportunity to acquire a diversified residential inc

Key facts

• Listed 27 days

Property features AI

Finance

• Financial info: Six rental units; all units listed as 2-bedroom

Exterior

• Parking: Garage: Other (see remarks)
• Utilities: Utilities: Other (see remarks)
• Home design: Zoned R; Multiple-unit property (6 units)
• Construction: Foundation: Other (see remarks)
• Exterior features: Exterior: Other (see remarks); Roof: Other (see remarks); Paved road access; Inside city limits

Interior

• Kitchen: Kitchen equipment: Other (see remarks)
• Bedrooms: Six 2-bedroom units
• Flooring: Other (see remarks)
• Heating & cooling: Other (see remarks)
• Interior features: Floors: Other (see remarks); Kitchen equipment: Other (see remarks); Heating & cooling: Other (see remarks)

What this means for you Summary

Snapshot

• This is a 12-bed/?-bath multifamily listed at $490k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $3k ($31k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $490k).
• Recommended offer: $483k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.7% 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 (+3.1%/yr); 67 active listings in the ZIP; lower-income renter base — watch delinquency; 1,006 units permitted in Pulaski County in 2024 (0 in 5+ unit buildings).
• At $7,596/mo this rent would consume 302% of the median local household income ($30k/yr) (locally 995% 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 (-2.7%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k 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 (-2.7% appreciation + 3.1% rent growth), your $137k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($483k) is reasonable based on typical stale-listing flexibility.

Recommended offer $482,650 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.55% ✓
• Cap rate: 12.70%
• Cash-on-cash: 22.87%
• DSCR: 2.02
• GRM: 5.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-2.7% appreciation · 3.14% rent growth · sell at horizon

5-year hold

• IRR: 16.7%
• Equity multiple: 1.69×
• Total profit: $94,371
• Equity at exit: $79,511

10-year hold

• IRR: 24.9%
• Equity multiple: 3.24×
• Total profit: $306,690
• Equity at exit: $53,530

Cash invested: $137,200 (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 72114

• Home prices YoY: -2.2%
• Rents YoY: 3.1%
• Active inventory: 67
• Price-to-rent: 32.0×

Monthly cashflow live

• Estimated rent: $7,596 high
• Mortgage (P&I): −$2,570
• Tax est. 1.5%: −$612 /mo · $7,350/yr
• Insurance: −$204
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,595
• Net cashflow: $2,615

Break-even live

Break-even rent $4,286

Max offer price $490,000

Occupancy floor 61%

Sensitivity live

Price	-10% $2,953	-5% $2,784	+0% $2,615	+5% $2,445	+10% $2,276
Rent	-10% $2,014	-5% $2,315	+0% $2,615	+5% $2,915	+10% $3,215
Rate	-1.0pp $2,861	-0.5pp $2,739	base $2,615	+0.5pp $2,488	+1.0pp $2,358

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

Units	Beds	Baths	Est. rent
▸ 5× units	2	1	$6,375
1× unit	1	1	$1,220
Total (6 units)			$7,596

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: $122,500
• Closing costs: $14,700
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $490,000 Active 27 DOM
2. 2026-06-17
   days on market $490,000 Active 26 DOM
3. 2026-06-16
   days on market $490,000 Active 25 DOM
4. 2026-06-15
   days on market $490,000 Active 24 DOM
5. 2026-06-14
   days on market $490,000 Active 22 DOM
6. 2026-06-13
   days on market $490,000 Active 21 DOM
7. 2026-06-10
   days on market $490,000 Active 19 DOM
8. 2026-06-09
   days on market $490,000 Active 18 DOM
9. 2026-06-08
   days on market $490,000 Active 17 DOM
10. 2026-06-07
    days on market $490,000 Active 16 DOM
11. 2026-06-05
    days on market $490,000 Active 13 DOM
12. 2026-06-03
    days on market $490,000 Active 12 DOM
13. 2026-06-02
    days on market $490,000 Active 11 DOM
14. 2026-06-01
    days on market $490,000 Active 10 DOM
15. 2026-05-31
    days on market $490,000 Active 9 DOM
16. 2026-05-31
    days on market $490,000 Active 8 DOM
17. 2026-05-06
    listed $490,000 New Listing

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

Taxation est. · year 1

• Rental income: $91,152
• − Mortgage interest: −$27,448
• − Property taxes: −$7,350
• − Insurance: −$2,450
• − Repairs & maintenance: −$7,292
• − Management: −$7,292
• − Depreciation: −$14,255
• Taxable income: $25,066
• Est. tax owed @ 24.0%: −$6,016
• After-tax cash flow: $25,359/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 · 12 photos

Fair 45/100 Moderate rehab

This rental property requires moderate repairs and maintenance, including driveway repair, siding repair, and landscaping. Improvements will significantly enhance its resale and rental value.

Repairs flagged

• Major Driveway — Concrete driveway with significant cracks
• Major Siding — Weathered and in poor condition

Value-add opportunities

• Both Landscaping and curb appeal — Improving the appearance will attract more tenants and buyers
• Both Driveway repair — A repaired driveway will improve the home's curb appeal and functionality
• Both Siding repair — A repaired siding will improve the home's curb appeal and reduce maintenance costs

Renovation cost estimate screening

Repair item	Severity	Est. cost
Driveway · Concrete driveway with significant cracks	Major	$15,000–50,000
Siding · Weathered and in poor condition	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Both Landscaping and curb appeal — Improving the appearance will attract more tenants and buyers ↑
• Both Driveway repair — A repaired driveway will improve the home's curb appeal and functionality ↑
• Both Siding repair — A repaired siding will improve the home's curb appeal and reduce maintenance costs ↑

ⓘ 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: 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): 10,093
• Household income: $30,175
• Rent vs Own: 75.2% rent · 24.8% own
• Severe rent burden: 995.0

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 (70%)
• Race & ethnicity: Black 70% White 23% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Slovak 1% Serbian 1%
• Foreign-born: 3% · Canada, South Korea
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1% Other Asian/Pacific 0%

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: ▼ -2.70%
• Current HPI: 121.4243
• Rent YoY: ▲ 3.14%
• 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

1 event — show timeline

• 2026-05-06 Listed $490,000 CARMLS