3205 Center St · Little Rock, AR 72206

$51,500

2 bd · 1.0 ba · 750 sqft · SingleFamily public records · 289 Days on market

Built 1942 Fair condition 6,534 sqft lot $69/sqft · 55% below area ↓ 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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 289 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $52k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $442 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($990 rent vs $52k).
• Recommended offer: $45k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.6% vs local median 4.4% 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); 230 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 40% 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 $356 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 $14k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 289 days — a 12% lower offer ($45k) 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 $45,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 289 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: 1.92% ✓
• Cap rate: 16.60%
• Cash-on-cash: 36.81%
• DSCR: 2.64
• GRM: 4.3

CMA / ARV

• ARV (median comp): $114,166
• List price: $51,500
• Delta: -54.89%
• Verdict: UNDERPRICED
• Comps: 18 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3301 Center St	0.02mi	2/1.0	624 (-17%)	0mo	$55,000	$88	74
2721 Barber St	0.94mi	2/1.0	728 (-3%)	8mo	$7,000	$10	53
2121 Commerce St	0.85mi	1/1.0 (-1)	774 (+3%)	9mo	$165,000	$213	47
1804 Cumberland	1.00mi	2/1.0	769 (+2%)	16mo	$46,000	$60	47
3004 Wolfe	1.00mi	2/1.0	826 (+10%)	6mo	$31,500	$38	43
1917 Bragg St	1.04mi	2/1.0	840 (+12%)	22mo	$106,500	$127	27
1900 Vance St	1.11mi	1/1.0 (-1)	830 (+11%)	24mo	$179,000	$216	22
1118 W 34th St	0.66mi	3/1.0 (+1)	900 (+20%)	20mo	$56,000	$62	22

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: 33.1%
• Equity multiple: 2.40×
• Total profit: $20,196
• Equity at exit: $7,679

10-year hold

• IRR: 40.2%
• Equity multiple: 4.84×
• Total profit: $55,374
• Equity at exit: $4,453

Cash invested: $14,420 (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: 10 active · 2 under contract
• Months of supply: 60.0 mo (2%/mo absorbed)
• Median asking: $62,950 ($78/sqft)
• Median days on market: 147 d
• This list price: 40% of active listings are priced below it
• ARV vs active asking: +94.0% 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: 230
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $990 high
• Mortgage (P&I): −$270
• Tax from tax record: −$48 /mo · $576/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$208
• Net cashflow: $442

Break-even live

Break-even rent $430

Max offer price $51,500

Occupancy floor 50%

Sensitivity live

Price	-10% $472	-5% $457	+0% $442	+5% $428	+10% $413
Rent	-10% $364	-5% $403	+0% $442	+5% $481	+10% $521
Rate	-1.0pp $468	-0.5pp $455	base $442	+0.5pp $429	+1.0pp $415

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: $12,875
• Closing costs: $1,545
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3333 Broadway St Little Rock, AR	3.0	1.0	918	$925	$1.01	160d	1	0.20mi
3122 S Arch St Little Rock, AR	2.0	1.0	654	$725	$1.11	164d	1	0.27mi
2620 Broadway Ct Little Rock, AR	3.0	1.0	1120	$950	$0.85	1d	1	0.39mi
3119 S Izard St Little Rock, AR	3.0	1.0	1100	$995	$0.90	9d	1	0.45mi
3119 S Izard St Little Rock, AR	3.0	1.0	1100	$995	$0.90	10d	1	0.45mi
2708 Rock St Little Rock, AR	3.0	1.0	1114	$875	$0.79	162d	1	0.48mi
2323 S Spring St Little Rock, AR	3.0	2.0	1070	$1,100	$1.03	184d	1	0.60mi
2324 S Louisiana St Little Rock, AR	2.0	1.0	807	$1,095	$1.36	10d	1	0.61mi
2324 S Louisiana St Little Rock, AR	2.0	1.0	807	$1,095	$1.36	15d	1	0.61mi
2320 S Louisiana St Little Rock, AR	2.0	1.0	817	$1,095	$1.34	10d	1	0.62mi
2318 Louisiana St Little Rock, AR	2.0	1.0	791	$1,095	$1.38	10d	1	0.63mi
2414 S Arch St Little Rock, AR	2.0	1.0	902	$900	$1.00	10d	1	0.63mi
2301 Scott St Little Rock, AR	2.0	1.0	800	$1,095	$1.37	10d	1	0.69mi
2323 Rock St Little Rock, AR	2.0	1.0	964	$895	$0.93	107d	1	0.70mi
3117 S Pulaski St Little Rock, AR	3.0	1.0	985	$850	$0.86	7d	1	0.75mi
2201 Scott St Little Rock, AR	2.0	1.5	850	$995	$1.17	10d	1	0.75mi
2413 Vance St Little Rock, AR	3.0	1.0	1052	$1,150	$1.09	2d	1	0.84mi
2413 Vance St Little Rock, AR	3.0	1.0	1052	$1,150	$1.09	1d	1	0.84mi
2014 S Louisiana St Unit 3 Little Rock, AR	2.0	1.0	900	$1,350	$1.50	184d	1	0.84mi
2923 Bishop St Little Rock, AR	2.0	1.0	1025	$800	$0.78	51d	1	0.88mi
412 W 19th St Little Rock, AR	1.0	1.0	800	$825	$1.03	2d	1	0.96mi
901 W Charles Bussey Ave Little Rock, AR	1.0	1.0	686	$875	$1.28	107d	1	0.98mi
901 W Charles Bussey Ave Unit H Little Rock, AR	1.0	1.0	686	$850	$1.24	51d	1	0.98mi
901 W Charles Bussey Ave Unit C Little Rock, AR	1.0	1.0	686	$895	$1.30	155d	1	0.98mi
1909 S State St Little Rock, AR	2.0	1.0	850	$950	$1.12	51d	1	0.98mi
1016 W 21st St Unit B Little Rock, AR	2.0	1.0	800	$850	$1.06	10d	1	0.99mi
1106 W 21st St Little Rock, AR	2.0	1.0	900	$900	$1.00	10d	1	1.02mi
3004 Wolfe St Little Rock, AR	2.0	1.0	925	$970	$1.05	10d	1	1.03mi
1511 W 23rd St Little Rock, AR	2.0	1.0	984	$850	$0.86	10d	1	1.05mi
221 E 17th St Apt E Little Rock, AR	2.0	1.5	1124	$1,500	$1.33	7d	1	1.06mi
510 W 17th St Unit 1 Little Rock, AR	1.0	1.0	800	$950	$1.19	51d	1	1.14mi
510 W 17th St Apt 4 Little Rock, AR	1.0	1.0	800	$975	$1.22	38d	1	1.14mi
1512 S Louisiana St Unit B Little Rock, AR	1.0	1.0	950	$1,075	$1.13	2d	1	1.18mi
1512 Center St Little Rock, AR	1.0	1.0	952	$1,595	$1.68	51d	1	1.20mi
1512 Center St Little Rock, AR	1.0	1.0	952	$1,595	$1.68	164d	1	1.20mi
117 W 15th St Unit A Little Rock, AR	1.0	1.0	550	$795	$1.45	2d	1	1.20mi
117 W 15th St Unit A Little Rock, AR	1.0	1.0	550	$825	$1.50	10d	1	1.20mi
117 W 15th St Little Rock, AR	1.0	1.0	550	$795	$1.45	0d	1	1.20mi
1520 Broadway St Little Rock, AR	2.0	1.0	1095	$1,250	$1.14	0d	1	1.21mi
1500 Center St Unit 8 Little Rock, AR	1.0	1.0	850	$925	$1.09	45d	1	1.21mi

Listing history 50 events

1. 2026-10-21
   days on market $51,500 Active 289 DOM
2. 2026-10-20
   days on market $51,500 Active 288 DOM
3. 2026-10-19
   days on market $51,500 Active 287 DOM
4. 2026-10-18
   days on market $51,500 Active 286 DOM
5. 2026-10-17
   days on market $51,500 Active 285 DOM
6. 2026-10-16
   days on market $51,500 Active 284 DOM
7. 2026-10-15
   days on market $51,500 Active 283 DOM
8. 2026-10-14
   days on market $51,500 Active 282 DOM
9. 2026-10-13
   days on market $51,500 Active 281 DOM
10. 2026-10-12
    days on market $51,500 Active 280 DOM
11. 2026-10-11
    days on market $51,500 Active 279 DOM
12. 2026-10-10
    days on market $51,500 Active 278 DOM
13. 2026-10-09
    days on market $51,500 Active 277 DOM
14. 2026-10-08
    days on market $51,500 Active 276 DOM
15. 2026-10-07
    days on market $51,500 Active 275 DOM
16. 2026-10-06
    days on market $51,500 Active 274 DOM
17. 2026-10-05
    days on market $51,500 Active 273 DOM
18. 2026-10-04
    days on market $51,500 Active 272 DOM
19. 2026-10-04
    days on market $51,500 Active 271 DOM
20. 2026-10-02
    days on market $51,500 Active 270 DOM
21. 2026-10-01
    statusdays on market $51,500 Active 269 DOM
22. 2026-09-30
    days on market $51,500 Back on Market 268 DOM
23. 2026-09-29
    days on market $51,500 Back on Market 267 DOM
24. 2026-09-28
    days on market $51,500 Back on Market 266 DOM
25. 2026-09-27
    days on market $51,500 Back on Market 265 DOM
26. 2026-09-25
    days on market $51,500 Back on Market 263 DOM
27. 2026-09-24
    status $51,500 Back on Market 262 DOM
28. 2026-09-21
    days on market $51,500 Active 262 DOM
29. 2026-09-20
    days on market $51,500 Active 261 DOM
30. 2026-09-19
    days on market $51,500 Active 260 DOM
31. 2026-09-18
    days on market $51,500 Active 259 DOM
32. 2026-09-17
    days on market $51,500 Active 258 DOM
33. 2026-09-16
    days on market $51,500 Active 257 DOM
34. 2026-09-15
    days on market $51,500 Active 256 DOM
35. 2026-09-14
    days on market $51,500 Active 255 DOM
36. 2026-09-13
    days on market $51,500 Active 254 DOM
37. 2026-09-12
    days on market $51,500 Active 253 DOM
38. 2026-09-11
    days on market $51,500 Active 252 DOM
39. 2026-09-05
    days on market $51,500 Active 246 DOM
40. 2026-09-04
    statusdays on market $51,500 Active 245 DOM
41. 2026-09-03
    days on market $51,500 Price Change 244 DOM
42. 2026-08-31
    days on market $51,500 Price Change 241 DOM
43. 2026-08-30
    days on market $51,500 Price Change 240 DOM
44. 2026-08-29
    days on market $51,500 Price Change 239 DOM
45. 2026-08-28
    pricestatus $51,500 Price Change 238 DOM
46. 2026-08-21
    remarks 135-char remark
47. 2026-08-21
    days on market $59,900 Active 238 DOM
48. 2026-08-20
    days on market $59,900 Active 237 DOM
49. 2026-08-19
    days on market $59,900 Active 236 DOM
50. 2026-08-18
    days on market $59,900 Active 235 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: $11,878
• − Mortgage interest: −$2,885
• − Property taxes: −$576
• − Insurance: −$258
• − Repairs & maintenance: −$950
• − Management: −$950
• − Depreciation: −$1,498
• Taxable income: $4,760
• Est. tax owed @ 24.0%: −$1,143
• After-tax cash flow: $4,166/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%
• 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.