10323 W 20th St · Little Rock, AR 72205

$180,000

2 bd · 1.0 ba · 1,372 sqft · SingleFamily public records · 73 Days on market

Built 1957 0.48 ac lot $131/sqft · 16% below area Est $214k · 16% under

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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 +16.0/30.0
• ARV discount +14.7/15.0
• DSCR +4.9/10.0
• Livability +3.7/5.0
• Rent growth +3.1/5.0
• 1% rule +3.0/10.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Convenient Rock Home that needs your touch to shine again! Located on a large half acre lot so plenty of room to expand or play! 2 bedroom , 1 bath but Rock extra room/ laundry could be a third bedroom. Living/ Dining room combo has a Rock fireplace and galley kitchen has a breakfast bar. Shop out back for storage to go with the big yard for entertaining or play! Agents see remarks

Key facts

• Galley kitchen
• Rock fireplace
• Large half acre lot

Tags

• LARGE HALF ACRE LOT
• ROCK FIREPLACE
• GALLEY KITCHEN
• BREAKFAST BAR
• SHOP OUT BACK

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $88 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $144k (20.0% below list).
• Recommended offer: $144k (20.0% below list) — sets the bar for 1% rule.
• Cap rate 6.9% 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 (+2.4%/yr); 116 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 43% 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 73 days — a 6% lower offer ($169k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1957 — 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 $143,929 (20.0% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
2. Built in 1957 — 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. 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: 0.80% ✗
• Cap rate: 6.88%
• Cash-on-cash: 2.08%
• DSCR: 1.09
• GRM: 10.4

CMA / ARV

• ARV (median comp): $214,064
• List price: $180,000
• Delta: -15.91%
• 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
1604 Marlyn Dr	0.44mi	3/2.0 (+1)	1,392 (+2%)	1mo	$175,000	$126	67
2101 Romine Rd	0.49mi	3/1.5 (+1)	1,380 (+1%)	5mo	$115,000	$83	65
1606 Nichols Rd	0.28mi	3/2.0 (+1)	1,479 (+8%)	2mo	$185,000	$125	64
11209 Hickory Hill Rd	0.58mi	3/2.0 (+1)	1,372 (0%)	8mo	$208,500	$152	58
2104 Junior Deputy Rd	0.25mi	3/2.0 (+1)	1,529 (+11%)	4mo	$271,650	$178	57
9320 Tanya	0.65mi	3/2.0 (+1)	1,375 (+0%)	5mo	$189,900	$138	56
9909 Labette Dr	0.30mi	3/1.5 (+1)	1,170 (-15%)	2mo	$99,900	$85	53
1423 Marlyn	0.49mi	3/2.0 (+1)	1,458 (+6%)	6mo	$175,000	$120	53
9318 Monique Dr	0.65mi	3/2.0 (+1)	1,400 (+2%)	7mo	$164,900	$118	52
9425 Labette Dr	0.53mi	3/2.0 (+1)	1,300 (-5%)	8mo	$169,000	$130	51
2807 Dorset Dr	0.67mi	3/2.0 (+1)	1,493 (+9%)	1mo	$175,000	$117	44
1813 Lynette Dr	0.73mi	3/2.0 (+1)	1,263 (-8%)	7mo	$144,500	$114	38

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: -13.6%
• Equity multiple: 0.51×
• Total profit: $-24,555
• Equity at exit: $26,839

10-year hold

• IRR: -5.7%
• Equity multiple: 0.64×
• Total profit: $-18,104
• Equity at exit: $15,563

Cash invested: $50,400 (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: 10.4×

Monthly cashflow live

• Estimated rent: $1,439 high
• Mortgage (P&I): −$944
• Tax from tax record: −$31 /mo · $367/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $88

Break-even live

Break-even rent $1,329

Max offer price $180,000

Occupancy floor 89%

Sensitivity live

Price	-10% $189	-5% $138	+0% $88	+5% $-169	+10% $-231
Rent	-10% $-26	-5% $31	+0% $88	+5% $144	+10% $201
Rate	-1.0pp $178	-0.5pp $133	base $88	+0.5pp $41	+1.0pp $-7

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10103 W 20th St Unit A Little Rock, AR	3.0	2.0	1600	$1,575	$0.98	44d	1	0.15mi
10101 W 20th St Unit B Little Rock, AR	3.0	2.0	1104	$1,395	$1.26	44d	1	0.17mi
10005 W 20th St Unit a Little Rock, AR	3.0	2.5	1545	$1,565	$1.01	44d	1	0.21mi
1310 Aldersgate Rd Little Rock, AR	2.0	2.0	1150	$1,352	$1.18	19d	7	0.35mi
9409 Cerelle Dr Little Rock, AR	3.0	1.5	1432	$1,375	$0.96	24d	1	0.70mi
9416 Covenant Ln Little Rock, AR	3.0	2.0	1550	$2,029	$1.31	24d	1	0.77mi
1801 Labette Manor Dr Unit 1 Little Rock, AR	3.0	1.5	1000	$995	$0.99	14d	1	0.80mi
1801 Labette Manor Dr Unit 7 Little Rock, AR	3.0	1.5	991	$995	$1.00	44d	1	0.80mi
2900 Lehigh Dr Unit 2900 Little Rock, AR	3.0	2.0	1600	$2,029	$1.27	24d	1	0.83mi
2823 Covenant Cv Little Rock, AR	3.0	2.0	1500	$2,029	$1.35	24d	1	0.84mi
9401 Courtney Cv Little Rock, AR	3.0	2.0	1500	$2,029	$1.35	24d	1	0.86mi
9012 Tanya Dr Little Rock, AR	2.0	1.5	1036	$1,045	$1.01	24d	1	0.87mi
319 Oak Ln Little Rock, AR	3.0	2.0	1484	$1,481	$1.00	44d	1	1.07mi
2706 Longcoy St Little Rock, AR	3.0	2.0	1200	$1,250	$1.04	44d	1	1.15mi
11423 Birchwood Dr Little Rock, AR	3.0	2.0	1834	$1,911	$1.04	24d	1	1.21mi
9007 Cloverhill Rd Little Rock, AR	3.0	2.0	1270	$1,395	$1.10	44d	1	1.22mi
320 Nebling Rd Unit B Little Rock, AR	2.0	1.5	1110	$995	$0.90	44d	1	1.27mi
101 Ellis Dr Little Rock, AR	2.0	1.5	904	$925	$1.02	24d	1	1.29mi
101 Ellis Dr Unit D Little Rock, AR	2.0	1.0	904	$925	$1.02	24d	1	1.29mi
9105 W 36th St Little Rock, AR	3.0	2.0	1200	$1,295	$1.08	14d	1	1.30mi
3724 Holt St Little Rock, AR	3.0	2.0	1200	$1,300	$1.08	24d	1	1.35mi
10006 Raymond Dr Little Rock, AR	3.0	1.5	1450	$1,400	$0.97	44d	1	1.39mi
9910 Brooks Ln Little Rock, AR	3.0	2.0	1140	$1,450	$1.27	44d	1	1.49mi

Listing history 16 events

1. 2026-06-18
   days on market $180,000 Active 73 DOM
2. 2026-06-17
   days on market $180,000 Active 72 DOM
3. 2026-06-16
   days on market $180,000 Active 71 DOM
4. 2026-06-15
   days on market $180,000 Active 70 DOM
5. 2026-06-14
   days on market $180,000 Active 68 DOM
6. 2026-06-13
   days on market $180,000 Active 67 DOM
7. 2026-06-10
   days on market $180,000 Active 65 DOM
8. 2026-06-09
   days on market $180,000 Active 64 DOM
9. 2026-06-08
   days on market $180,000 Active 63 DOM
10. 2026-06-05
    days on market $180,000 Active 59 DOM
11. 2026-06-03
    days on market $180,000 Active 58 DOM
12. 2026-06-02
    days on market $180,000 Active 57 DOM
13. 2026-06-01
    days on market $180,000 Active 56 DOM
14. 2026-05-31
    days on market $180,000 Active 55 DOM
15. 2026-05-31
    days on market $180,000 Active 54 DOM
16. 2026-04-04
    listed $180,000 New Listing 384-char remark

    Show marketing remark (384 chars)

    Convenient Rock Home that needs your touch to shine again! Located on a large half acre lot so plenty of room to expand or play! 2 bedroom , 1 bath but Rock extra room/ laundry could be a third bedroom. Living/ Dining room combo has a Rock fireplace and galley kitchen has a breakfast bar. Shop out back for storage to go with the big yard for entertaining or play! Agents see remarks

ⓘ 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: $367 · $31/mo
• Projected year-2 tax: $1,152 · $96/mo
• Expected delta: +$785/yr (+$65/mo · 213.9%)

ⓘ 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 6/10 Major 7 d/yr ≥111°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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,271
• − Mortgage interest: −$10,083
• − Property taxes: −$367
• − Insurance: −$900
• − Repairs & maintenance: −$1,382
• − Management: −$1,382
• − Depreciation: −$5,236
• Taxable loss: −$2,078
• Est. tax savings @ 24.0%: +$499
• After-tax cash flow: $1,549/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

1 event — show timeline

• 2026-04-04 Listed $180,000 CARMLS

Property tax history

+0.0%/yr

Latest (2025): $367 · +0.0% YoY. Source: county tax records.