1224 W 31st St · Little Rock, AR 72206

$59,900

3 bd · 1.0 ba · 760 sqft · SingleFamily public records · 231 Days on market

Built 1954 5,662 sqft lot $79/sqft · 13% below area Est $69k · 13% under ↓ 30% 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
• ARV discount +13.2/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cozy home ready for someone to give it some TLC and make it their own. Near Downtown and minutes away from freeway. With easy access corner lot. Down the street from Children hospital. In an Up-and-coming neighborhood. Motivated seller. Sold As Is, Seller Financing available (must meet criteria)

Key facts

• 5,662 sq ft lot
• Built 1954
• Listed 231 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $531 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.9% 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 (+3.4%/yr); 125 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $414 of loan paydown is wiped out by about $2k 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 + 3.4% rent growth), your $17k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 231 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $25k (30%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1954 — 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 $52,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 231 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 1954 — 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. 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. 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.
7. 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.
8. 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: 1.91% ✓
• Cap rate: 16.93%
• Cash-on-cash: 37.98%
• DSCR: 2.69
• GRM: 4.4

CMA / ARV

• ARV (median comp): $68,583
• List price: $59,900
• Delta: -12.66%
• Verdict: UNDERPRICED
• Comps: 17 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3004 Wolfe	0.29mi	2/1.0 (-1)	826 (+9%)	1mo	$31,500	$38	66
3106 S Arch St	0.47mi	2/1.0 (-1)	766 (+1%)	22mo	$80,000	$104	54

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 · 3.36% rent growth · sell at horizon

5-year hold

• IRR: 34.4%
• Equity multiple: 2.46×
• Total profit: $24,510
• Equity at exit: $8,931

10-year hold

• IRR: 41.4%
• Equity multiple: 4.97×
• Total profit: $66,563
• Equity at exit: $5,179

Cash invested: $16,772 (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 72206

• Rents YoY: 3.4%
• Active inventory: 125
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,144 high
• Mortgage (P&I): −$314
• Tax from tax record: −$34 /mo · $408/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$240
• Net cashflow: $531

Break-even live

Break-even rent $472

Max offer price $59,900

Occupancy floor 49%

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3122 S Arch St Little Rock, AR	2.0	1.0	654	$725	$1.11	23d	1	0.48mi
3333 Broadway St Little Rock, AR	3.0	1.0	918	$925	$1.01	19d	1	0.59mi
1209 W 22nd St Little Rock, AR	4.0	2.0	1104	$1,850	$1.68	44d	1	0.61mi
1921 Wolfe St Unit A Little Rock, AR	2.0	2.0	875	$875	$1.00	23d	1	0.82mi
2323 S Spring St Little Rock, AR	3.0	2.0	1070	$1,100	$1.03	44d	1	0.82mi
1724 W 19th St Unit 2 Little Rock, AR	2.0	1.0	843	$1,150	$1.36	44d	1	0.88mi
1724 W 19th St Unit 2 Little Rock, AR	2.0	1.0	843	$1,150	$1.36	23d	1	0.88mi
1909 S State St Little Rock, AR	2.0	1.0	850	$1,200	$1.41	14d	1	0.88mi
2200 Dennison St Little Rock, AR	3.0	1.5	1080	$1,000	$0.93	44d	1	0.91mi
2318 Louisiana St Little Rock, AR	2.0	1.0	791	$1,175	$1.49	44d	1	0.92mi
2014 S Louisiana St Unit 3 Little Rock, AR	2.0	1.0	900	$1,350	$1.50	44d	1	1.05mi
2708 Rock St Little Rock, AR	3.0	1.0	1114	$875	$0.79	21d	1	1.07mi
2201 Scott St Little Rock, AR	2.0	1.5	850	$995	$1.17	44d	1	1.12mi
1500 Center St Unit 5 Little Rock, AR	2.0	1.5	1100	$1,295	$1.18	44d	1	1.31mi
201 E 17th St Little Rock, AR	2.0	1.5	1124	$1,550	$1.38	14d	1	1.32mi
1320 S Summit St Little Rock, AR	2.0	1.0	864	$1,050	$1.22	21d	1	1.36mi
1318 S Summit St Little Rock, AR	2.0	1.0	864	$1,050	$1.22	21d	1	1.36mi
2324 W Daisy L Gatson Bates Dr Unit 1 Little Rock, AR	2.0	1.0	881	$1,095	$1.24	44d	1	1.45mi
2324 W Daisy L Gatson Bates Dr Unit 2 Little Rock, AR	2.0	1.0	881	$1,050	$1.19	23d	1	1.45mi
1822 Booker St Little Rock, AR	3.0	2.0	1076	$1,195	$1.11	23d	1	1.46mi
1202 W 11th St Unit A & B Little Rock, AR	2.0	1.0	763	$1,050	$1.38	44d	1	1.48mi

Listing history 21 events

1. 2026-06-18
   days on market $59,900 Active 231 DOM
2. 2026-06-17
   days on market $59,900 Active 230 DOM
3. 2026-06-16
   days on market $59,900 Active 229 DOM
4. 2026-06-15
   days on market $59,900 Active 228 DOM
5. 2026-06-14
   days on market $59,900 Active 226 DOM
6. 2026-06-13
   days on market $59,900 Active 225 DOM
7. 2026-06-10
   days on market $59,900 Active 223 DOM
8. 2026-06-09
   days on market $59,900 Active 222 DOM
9. 2026-06-08
   days on market $59,900 Active 221 DOM
10. 2026-06-05
    days on market $59,900 Active 217 DOM
11. 2026-06-03
    days on market $59,900 Active 216 DOM
12. 2026-06-02
    days on market $59,900 Active 215 DOM
13. 2026-06-01
    days on market $59,900 Active 214 DOM
14. 2026-05-31
    days on market $59,900 Active 213 DOM
15. 2026-05-31
    days on market $59,900 Active 212 DOM
16. 2026-05-06
    price $59,900 296-char remark

    Show marketing remark (296 chars)

    Cozy home ready for someone to give it some TLC and make it their own. Near Downtown and minutes away from freeway. With easy access corner lot. Down the street from Children hospital. In an Up-and-coming neighborhood. Motivated seller. Sold As Is, Seller Financing available (must meet criteria)

17. 2026-04-16
    price $69,000 296-char remark

    Show marketing remark (296 chars)

    Cozy home ready for someone to give it some TLC and make it their own. Near Downtown and minutes away from freeway. With easy access corner lot. Down the street from Children hospital. In an Up-and-coming neighborhood. Motivated seller. Sold As Is, Seller Financing available (must meet criteria)

18. 2026-01-29
    price $75,000 296-char remark

    Show marketing remark (296 chars)

    Cozy home ready for someone to give it some TLC and make it their own. Near Downtown and minutes away from freeway. With easy access corner lot. Down the street from Children hospital. In an Up-and-coming neighborhood. Motivated seller. Sold As Is, Seller Financing available (must meet criteria)

19. 2026-01-29
    status Price Change 296-char remark

    Show marketing remark (296 chars)

    Cozy home ready for someone to give it some TLC and make it their own. Near Downtown and minutes away from freeway. With easy access corner lot. Down the street from Children hospital. In an Up-and-coming neighborhood. Motivated seller. Sold As Is, Seller Financing available (must meet criteria)

20. 2025-09-07
    historical 296-char remark

    Show marketing remark (296 chars)

    Cozy home ready for someone to give it some TLC and make it their own. Near Downtown and minutes away from freeway. With easy access corner lot. Down the street from Children hospital. In an Up-and-coming neighborhood. Motivated seller. Sold As Is, Seller Financing available (must meet criteria)

21. 2025-06-05
    listed $85,000 New Listing 296-char remark

    Show marketing remark (296 chars)

    Cozy home ready for someone to give it some TLC and make it their own. Near Downtown and minutes away from freeway. With easy access corner lot. Down the street from Children hospital. In an Up-and-coming neighborhood. Motivated seller. Sold As Is, Seller Financing available (must meet criteria)

ⓘ 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: $408 · $34/mo
• Projected year-2 tax: $408 · $34/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 ≥110°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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,730
• − Mortgage interest: −$3,355
• − Property taxes: −$408
• − Insurance: −$300
• − Repairs & maintenance: −$1,098
• − Management: −$1,098
• − Depreciation: −$1,743
• Taxable income: $5,728
• Est. tax owed @ 24.0%: −$1,375
• After-tax cash flow: $4,995/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): 22,667
• Household income: $52,132
• Rent vs Own: 29.3% rent · 70.7% own
• Severe rent burden: 623.0

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 0.59)
• Race & ethnicity: Black 48% White 43% Two or more races 6% Hispanic / Latino 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Iranian 1% Italian 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 94% English-only · Spanish 5%

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: ▼ -88.64%
• Current HPI: 158.3601
• Rent YoY: ▲ 3.36%
• 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

-29.5% since first listed

6 events — show timeline

• 2026-05-06 Price Changed $59,900 CARMLS
• 2026-04-16 Price Changed $69,000 CARMLS
• 2026-01-29 Price Changed $75,000 CARMLS
• 2026-01-29 Relisted — CARMLS
• 2025-09-07 Listing Removed — CARMLS
• 2025-06-05 Listed $85,000 CARMLS

Property tax history

+2.6%/yr

Latest (2025): $408 · +4.1% YoY. Source: county tax records.