3205 Center St · Little Rock, AR 72206

$59,900

2 bd · 1.0 ba · 750 sqft · SingleFamily public records · 225 Days on market

Built 1942 Fair condition 6,534 sqft lot $80/sqft · 47% below area Est $114k · 47% under ↓ 25% 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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• Condition / age +2.2/5.0
• Schools +0.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

SOLD AS IS THIS 2 BED ROOMS & 1 BATH HOME OFFERS OPEN FLOOR PLAN WITH SOME UPDATES DONE ALREADY.

Key facts

• 6,534 sq ft lot
• Built 1942
• Listed 224 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $60k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $413 ($5k/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 14.6% vs local median 4.2% 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.
• Zoned schools: Washington Elementary School (math 12% / reading 8%, grade F, #429 of 454 statewide, top 96%, 319 students, 97% FRL); Dunbar Magnet Middle School (math 6% / reading 13%, grade F, #196 of 201 statewide, top 98%, 320 students, 90% FRL) — zoned schools average 93% FRL vs 69% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 10% at this address vs 24% district-wide (-15 pts) — the specific schools serving this property underperform the Little Rock School District average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+3.4%/yr); 164 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals lingering (median 64d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 225 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1942 — 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 $52,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 225 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.69% ✓
• Cap rate: 14.57%
• Cash-on-cash: 29.56%
• DSCR: 2.32
• GRM: 4.9

CMA / ARV

• ARV (median comp): $113,935
• List price: $59,900
• Delta: -47.43%
• Verdict: UNDERPRICED
• Comps: 18 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3106 S Arch St	0.25mi	2/1.0	766 (+2%)	23mo	$80,000	$104	65
2721 Barber St	0.94mi	2/1.0	728 (-3%)	6mo	$7,000	$10	56
2121 Commerce St	0.85mi	1/1.0 (-1)	774 (+3%)	6mo	$165,000	$213	50
1804 Cumberland	1.00mi	2/1.0	769 (+2%)	13mo	$46,000	$60	50
3004 Wolfe	1.00mi	2/1.0	826 (+10%)	3mo	$31,500	$38	46
1917 Bragg St	1.04mi	2/1.0	840 (+12%)	18mo	$106,500	$127	30
1920 Vance St	1.07mi	2/1.0	840 (+12%)	22mo	$147,250	$175	26
1900 Vance St	1.11mi	1/1.0 (-1)	830 (+11%)	21mo	$179,000	$216	25
1118 W 34th St	0.66mi	3/1.0 (+1)	900 (+20%)	18mo	$56,000	$62	24
2225 Rock St	0.74mi	1/1.0 (-1)	847 (+13%)	23mo	$185,000	$218	20

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: 24.4%
• Equity multiple: 2.01×
• Total profit: $16,978
• Equity at exit: $8,931

10-year hold

• IRR: 32.5%
• Equity multiple: 3.99×
• Total profit: $50,188
• 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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 9 active
• Months of supply: 27.0 mo (4%/mo absorbed)
• Median asking: $59,900 ($79/sqft)
• Median days on market: 225 d
• This list price: 44% of active listings are priced below it
• ARV vs active asking: +92.7% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 72206

• Rents YoY: 3.4%
• Active inventory: 164
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,013 high
• Mortgage (P&I): −$314
• Tax from tax record: −$48 /mo · $576/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$213
• Net cashflow: $413

Break-even live

Break-even rent $490

Max offer price $59,900

Occupancy floor 54%

Sensitivity live

Price	-10% $447	-5% $430	+0% $413	+5% $396	+10% $379
Rent	-10% $333	-5% $373	+0% $413	+5% $453	+10% $493
Rate	-1.0pp $443	-0.5pp $428	base $413	+0.5pp $398	+1.0pp $382

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
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3333 Broadway St Little Rock, AR	3.0	1.0	918	$925	$1.01	68d	1	0.20mi
3122 S Arch St Little Rock, AR	2.0	1.0	654	$725	$1.11	72d	1	0.27mi
3119 S Izard St Little Rock, AR	3.0	1.0	1100	$1,075	$0.98	16d	1	0.45mi
2708 Rock St Little Rock, AR	3.0	1.0	1114	$875	$0.79	70d	1	0.48mi
2323 S Spring St Little Rock, AR	3.0	2.0	1070	$1,100	$1.03	93d	1	0.60mi
2318 Louisiana St Little Rock, AR	2.0	1.0	791	$1,175	$1.49	93d	1	0.63mi
2301 Scott St Little Rock, AR	2.0	1.0	800	$1,095	$1.37	16d	1	0.69mi
2323 Rock St Little Rock, AR	2.0	1.0	964	$895	$0.93	16d	1	0.70mi
2201 Scott St Little Rock, AR	2.0	1.5	850	$995	$1.17	93d	1	0.75mi
2014 S Louisiana St Unit 3 Little Rock, AR	2.0	1.0	900	$1,350	$1.50	93d	1	0.84mi
901 W Charles Bussey Ave Little Rock, AR	1.0	1.0	686	$875	$1.28	16d	1	0.98mi
901 W Charles Bussey Ave Unit C Little Rock, AR	1.0	1.0	686	$895	$1.30	63d	1	0.98mi
901 W Charles Bussey Ave Unit H Little Rock, AR	1.0	1.0	686	$895	$1.30	16d	1	0.98mi
1909 S State St Little Rock, AR	2.0	1.0	850	$1,100	$1.29	16d	1	0.98mi
1106 W 21st St Little Rock, AR	2.0	1.0	900	$1,000	$1.11	16d	1	1.02mi
3004 Wolfe St Little Rock, AR	2.0	1.0	900	$950	$1.06	16d	1	1.03mi
1511 W 23rd St Little Rock, AR	2.0	1.0	984	$875	$0.89	16d	1	1.05mi
201 E 17th St Little Rock, AR	2.0	1.5	1124	$1,500	$1.33	15d	1	1.07mi
1512 Center St Little Rock, AR	1.0	1.0	952	$1,595	$1.68	72d	1	1.20mi
1520 Broadway St Little Rock, AR	1.0–2.0	1.0	881	$1,200	$1.36	16d	1	1.21mi
1500 Center St Unit 8 Little Rock, AR	1.0	1.0	850	$1,025	$1.21	16d	1	1.21mi
1500 Center St Unit 5 Little Rock, AR	2.0	1.5	1100	$1,295	$1.18	93d	1	1.22mi
1302 Scott St Unit 106A Little Rock, AR	2.0	2.0	998	$1,400	$1.40	16d	1	1.31mi
1302 Scott St Unit 303B Little Rock, AR	1.0	1.0	562	$1,015	$1.81	72d	1	1.31mi
1921 Wolfe St Unit A Little Rock, AR	2.0	2.0	875	$875	$1.00	72d	1	1.33mi
1724 W 19th St Unit 2 Little Rock, AR	2.0	1.0	843	$1,150	$1.36	93d	1	1.37mi
1724 W 19th St Apt 3 Little Rock, AR	1.0	1.0	828	$950	$1.15	93d	1	1.37mi
1724 W 19th St Unit 2 Little Rock, AR	2.0	1.0	843	$1,150	$1.36	72d	1	1.37mi
1724 W 19th St Apt 3 Little Rock, AR	1.0	1.0	828	$950	$1.15	16d	1	1.37mi
1508 S Pulaski St Little Rock, AR	2.0	1.5	925	$950	$1.03	16d	1	1.46mi

Listing history 50 events

1. 2026-08-08
   days on market $59,900 Active 225 DOM
2. 2026-08-07
   days on market $59,900 Active 224 DOM
3. 2026-08-06
   days on market $59,900 Active 223 DOM
4. 2026-08-05
   days on market $59,900 Active 222 DOM
5. 2026-08-04
   days on market $59,900 Active 221 DOM
6. 2026-08-03
   days on market $59,900 Active 220 DOM
7. 2026-07-31
   statusdays on market $59,900 Active 217 DOM
8. 2026-07-30
   days on market $59,900 Back on Market 216 DOM
9. 2026-07-29
   days on market $59,900 Back on Market 215 DOM
10. 2026-07-27
    days on market $59,900 Back on Market 213 DOM
11. 2026-07-25
    statusdays on market $59,900 Back on Market 211 DOM
12. 2026-07-21
    days on market $59,900 Active 210 DOM
13. 2026-07-18
    days on market $59,900 Active 207 DOM
14. 2026-07-16
    days on market $59,900 Active 205 DOM
15. 2026-07-16
    days on market $59,900 Active 204 DOM
16. 2026-07-14
    days on market $59,900 Active 203 DOM
17. 2026-07-13
    days on market $59,900 Active 202 DOM
18. 2026-07-12
    days on market $59,900 Active 201 DOM
19. 2026-07-11
    days on market $59,900 Active 200 DOM
20. 2026-07-10
    days on market $59,900 Active 199 DOM
21. 2026-07-09
    days on market $59,900 Active 198 DOM
22. 2026-07-08
    status $59,900 Active 196 DOM
23. 2026-07-07
    days on market $59,900 Price Change 196 DOM
24. 2026-07-06
    days on market $59,900 Price Change 195 DOM
25. 2026-07-05
    days on market $59,900 Price Change 194 DOM
26. 2026-07-04
    days on market $59,900 Price Change 193 DOM
27. 2026-07-03
    days on market $59,900 Price Change 192 DOM
28. 2026-07-02
    pricestatusdays on market $59,900 Price Change 191 DOM
29. 2026-07-01
    days on market $79,900 Active 190 DOM
30. 2026-06-30
    days on market $79,900 Active 189 DOM
31. 2026-06-29
    days on market $79,900 Active 188 DOM
32. 2026-06-28
    days on market $79,900 Active 187 DOM
33. 2026-06-28
    days on market $79,900 Active 186 DOM
34. 2026-06-27
    days on market $79,900 Active 185 DOM
35. 2026-06-25
    days on market $79,900 Active 183 DOM
36. 2026-06-23
    days on market $79,900 Active 181 DOM
37. 2026-06-21
    days on market $79,900 Active 180 DOM
38. 2026-06-18
    days on market $79,900 Active 177 DOM
39. 2026-06-17
    statusdays on market $79,900 Active 176 DOM
40. 2026-06-16
    days on market $79,900 Price Change 175 DOM
41. 2026-06-15
    days on market $79,900 Price Change 174 DOM
42. 2026-06-14
    days on market $79,900 Price Change 172 DOM
43. 2026-06-13
    pricestatusdays on market $79,900 Price Change 171 DOM
44. 2026-06-10
    days on market $90,000 Active 169 DOM
45. 2026-06-09
    days on market $90,000 Active 168 DOM
46. 2026-06-08
    days on market $90,000 Active 167 DOM
47. 2026-06-05
    days on market $90,000 Active 163 DOM
48. 2026-06-03
    days on market $90,000 Active 162 DOM
49. 2026-06-02
    days on market $90,000 Active 161 DOM
50. 2026-06-01
    days on market $90,000 Active 160 DOM

ⓘ 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: $576 · $48/mo
• Projected year-2 tax: $576 · $48/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 (shaded) · 66% 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 12% 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: $12,156
• − Mortgage interest: −$3,355
• − Property taxes: −$576
• − Insurance: −$300
• − Repairs & maintenance: −$973
• − Management: −$973
• − Depreciation: −$1,743
• Taxable income: $4,238
• Est. tax owed @ 24.0%: −$1,017
• After-tax cash flow: $3,941/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 · 9 photos

Fair 45/100 Moderate rehab Est. rehab $18,750–$33,750 screening

This home requires moderate renovations to improve its condition and increase its value. The kitchen and bathroom need significant updates, while the exterior siding and interior walls also require attention.

Components & finishes AI

Roof asphalt shingle · good Flooring hardwood Counters granite Appliances white HVAC central · new lt5

Repairs flagged

• Major Kitchen countertops — The countertops appear worn and in need of replacement.
• Major Bathroom fixtures — The bathroom fixtures are dated and in need of replacement.
• Moderate Exterior siding — The siding shows signs of wear and tear, indicating a need for maintenance or replacement.

Value-add opportunities

• Resale Replace kitchen countertops — New countertops will improve the aesthetic appeal and functionality of the kitchen, making it more attractive to potential buyers. ↑
• Resale Replace bathroom fixtures — Upgrading the bathroom fixtures will enhance the overall appeal of the home and make it more attractive to potential buyers. ↑
• Both Paint interior walls — Painting the interior walls will improve the overall appearance of the home and make it more attractive to both buyers and renters. ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 8/100

Zoned Schools

Elementary Washington Elementary School F AR #429/454 Nat'l #39,071/41,679 Middle Dunbar Magnet Middle School F AR #196/201 Nat'l #13,478/14,009 High Little Rock Southwest High School F AR #286/292 Nat'l #16,852/17,239

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

B Composite livability gradescore 73/100

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 · 415,378 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: 8% of renters

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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%

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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%

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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

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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

-25.0% since first listed

3 events — show timeline

• 2026-02-08 Price Changed $90,000 CARMLS
• 2025-12-22 Listed $100,000 CARMLS
• 2025-09-25 Sold (Public Records) $120,000 Public Records

Property tax history

+9.0%/yr

Latest (2025): $576 · +496.6% YoY. Source: county tax records.