303-305 Short St · North Little Rock, AR 72117

$175,000

4 bd · 2.0 ba · 1,025 sqft · Other public records · 29 Days on market

Built 1935 5,662 sqft lot

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Why this score? — see what drove the D- 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 +11.6/30.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• DSCR +3.4/10.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Investors! 3 units across 1 duplex and 1 single family home. Home rents for $830/month with a long term tenant. Duplex is currently vacant, rent for $550-600. Owner provides water. Perfect for someone to live in 1 unit and rent the rest! Properties were rehabbed 3 years ago. No seller financing.

Key facts

• Currently vacant
• Rehabbed 3 years ago
• 1 duplex

Tags

• 3 UNITS
• 1 DUPLEX
• 1 SINGLE FAMILY HOME
• CURRENTLY VACANT
• OWNER PROVIDES WATER
• REHABBED 3 YEARS AGO

Property features AI

Finance

• Other: 3 total units: two 1-bedroom units and one 3-bedroom unit; Unit square footage and building area recorded from tax records
• Financial info: Potential financing: cash or conventional loan; Leases typically monthly; Minimum monthly rent for 1-bedroom units around $550 to $600; 3-bedroom unit rent listed at $830

Exterior

• Parking: 1-car garage
• Utilities: Municipal electric; Natural gas; Public sewer; Public water
• Home design: Multifamily property with 3 units; Zoned R; Located in North Little Rock, Pulaski County
• Construction: Composition roof; Crawl space and slab foundation
• Exterior features: Block and metal/vinyl siding exterior; Level lot; Paved road access; Lot inside city limits

Interior

• Kitchen: Free-standing stove; Electric range; Refrigerator included
• Bedrooms: Combination of 1-bedroom and 3-bedroom units (see Multi-Unit Information for counts)
• Flooring: Luxury vinyl
• Bathrooms: One bathroom per unit (3 one-bath units total)
• Heating & cooling: Central gas heat; Central electric cooling; Window air units
• Interior features: Sheet rock ceilings and walls; Other wall treatments (see remarks); Luxury vinyl flooring
• Laundry & utility: Tenant pays electric and gas

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $175k.

Deal economics

• At list price, monthly cash flow is $-56 ($-671/yr) — negative.
• To cash-flow at today's rent, offer at most $165k (5.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $134k (23.4% below list).
• Recommended offer: $134k (23.4% below list) — sets the bar for 1% rule.

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; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 46% 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 $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.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($172k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate 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 $133,974 (23.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.77% ✗
• Cap rate: 5.91%
• Cash-on-cash: -1.37%
• DSCR: 0.94
• GRM: 10.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -18.6%
• Equity multiple: 0.35×
• Total profit: $-31,958
• Equity at exit: $26,093

10-year hold

• IRR: -11.0%
• Equity multiple: 0.34×
• Total profit: $-32,571
• Equity at exit: $15,131

Cash invested: $49,000 (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: 10.9×

Monthly cashflow live

• Estimated rent: $1,340 high
• Mortgage (P&I): −$918
• Tax from tax record: −$124 /mo · $1,484/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$281
• Net cashflow: $-56

Break-even live

Break-even rent $1,411

Max offer price $165,119

Occupancy floor 99%

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4007 Rogers St North Little Rock, AR	4.0	2.0	1157	$1,595	$1.38	43d	1	0.01mi
4716 School St North Little Rock, AR	3.0	1.0	1347	$1,150	$0.85	43d	1	0.55mi
4820 Haywood St North Little Rock, AR	4.0	2.0	1223	$1,595	$1.30	14d	1	0.57mi
4911 School St North Little Rock, AR	4.0	2.0	1223	$1,595	$1.30	14d	1	0.61mi
5204 Alpha St North Little Rock, AR	3.0	1.0	753	$850	$1.13	43d	1	0.61mi
4912 School St North Little Rock, AR	3.0	1.0	1056	$950	$0.90	23d	1	0.63mi
814 N G St North Little Rock, AR	3.0	2.0	1280	$1,100	$0.86	23d	1	0.71mi
717 Greenlea Dr North Little Rock, AR	3.0	1.0	912	$1,095	$1.20	43d	1	0.76mi
817 Greenlea Dr North Little Rock, AR	3.0	1.0	912	$1,195	$1.31	23d	1	0.76mi
908 Greenlea Dr North Little Rock, AR	3.0	1.0	912	$1,300	$1.43	21d	1	0.81mi
2107 Muldrow Dr North Little Rock, AR	3.0	1.0	900	$1,015	$1.13	43d	1	0.87mi
3 Neal Pl North Little Rock, AR	3.0	1.0	1144	$975	$0.85	43d	1	1.48mi
3 Neal Pl North Little Rock, AR	3.0	1.0	1144	$975	$0.85	23d	1	1.48mi

Listing history 19 events

1. 2026-06-18
   days on market $175,000 Active 29 DOM
2. 2026-06-17
   days on market $175,000 Active 28 DOM
3. 2026-06-16
   days on market $175,000 Active 27 DOM
4. 2026-06-15
   days on market $175,000 Active 26 DOM
5. 2026-06-14
   days on market $175,000 Active 24 DOM
6. 2026-06-13
   days on market $175,000 Active 23 DOM
7. 2026-06-10
   days on market $175,000 Active 21 DOM
8. 2026-06-09
   days on market $175,000 Active 20 DOM
9. 2026-06-08
   days on market $175,000 Active 19 DOM
10. 2026-06-07
    days on market $175,000 Active 18 DOM
11. 2026-06-05
    days on market $175,000 Active 15 DOM
12. 2026-06-03
    days on market $175,000 Active 14 DOM
13. 2026-06-02
    days on market $175,000 Active 13 DOM
14. 2026-06-01
    days on market $175,000 Active 12 DOM
15. 2026-05-31
    days on market $175,000 Active 11 DOM
16. 2026-05-31
    days on market $175,000 Active 10 DOM
17. 2026-05-20
    listed $175,000 New Listing
18. 2024-08-06
    soldstatus $175,000
19. 2022-01-06
    soldstatus $102,000

ⓘ 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: $1,484 · $124/mo
• Projected year-2 tax: $1,484 · $124/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 5/10 Major FEMA zone X (unshaded) · 50% 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: $16,077
• − Mortgage interest: −$9,803
• − Property taxes: −$1,484
• − Insurance: −$875
• − Repairs & maintenance: −$1,286
• − Management: −$1,286
• − Depreciation: −$5,091
• Taxable loss: −$3,748
• Est. tax savings @ 24.0%: +$900
• After-tax cash flow: $228/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

+71.6% since first listed

3 events — show timeline

• 2026-05-20 Listed $175,000 CARMLS
• 2024-08-06 Sold (Public Records) $175,000 Public Records
• 2022-01-06 Sold (Public Records) $102,000 Public Records

Property tax history

+14.7%/yr

Latest (2025): $1,484 · +6.0% YoY. Source: county tax records.