421 Sierra Madre Dr · North Little Rock, AR 72118

$130,000

4 bd · 4.0 ba · 1,035 sqft · MultiFamily · 62 Days on market

Built 1966 Fair condition 7,840 sqft lot $126/sqft · 35% above area Est $97k · 35% over

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Why this score? — see what drove the C 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 +29.7/30.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• Rent growth +3.9/5.0
• Livability +3.7/5.0
• Condition / age +2.2/5.0
• Schools +2.0/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

INVESTOR OPPORTUNITY! Duplex with one unit leased at $600/month (month-to-month) and one unit vacant—ready for a new tenant. Each unit is approximately 500 sq ft (1,000 sq ft total) with garage and off-street parking. Tenants pay all utilities and handle lawn care for low-maintenance ownership. Recent updates include new gas water heaters, updated plumbing and electrical, and HVAC units approximately 4 and 6 years old. Roof is approximately 10 years old. Refrigerator and stove convey; washer/dryer belong to tenant. Current annual income is $14,400 with projected rents of $600–$650 per unit. Taxes approx. $1,066/year and insurance approx. $1,200/year. Estimated CAP RATE approximately 7%–8% based on projected rents and typical expenses.

Key facts

• 7,840 sq ft lot
• Garage
• Built 1966

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/2.0-bath units multifamily listed at $130k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $471 ($6k/yr) — positive. Per door: $236/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $122k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.6% vs local median 5.1% in North 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 (#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: Rents rising fast (+5.5%/yr); 105 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 1,006 units permitted in Pulaski County in 2024 (0 in 5+ unit buildings).
• This rent runs 42% of the median local income ($50k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k 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 + 5.5% rent growth), your $36k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 9y ago; this cycle's ask has dropped $8k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $86k; list at $130k implies a 50% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $122,200 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.33% ✓
• Cap rate: 10.64%
• Cash-on-cash: 15.54%
• DSCR: 1.69
• GRM: 6.2

CMA / ARV

• ARV (median comp): $96,515
• List price: $130,000
• Delta: 34.69%
• Verdict: OVERPRICED
• Comps: 4 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.47% rent growth · sell at horizon

5-year hold

• IRR: 9.1%
• Equity multiple: 1.37×
• Total profit: $13,404
• Equity at exit: $19,383

10-year hold

• IRR: 20.3%
• Equity multiple: 2.91×
• Total profit: $69,503
• Equity at exit: $11,240

Cash invested: $36,400 (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 72118

• Home prices YoY: -17.9%
• Rents YoY: 5.5%
• Active inventory: 105
• Price-to-rent: 12.5×

Monthly cashflow live

• Estimated rent: $1,734 high
• Mortgage (P&I): −$682
• Tax est. 1.5%: −$162 /mo · $1,950/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$364
• Net cashflow: $471

Break-even live

Break-even rent $1,137

Max offer price $130,000

Occupancy floor 68%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$1,734
Total (2 units)			$1,734

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1940 Arrowhead Rd North Little Rock, AR	4.0	1.5	1136	$1,400	$1.23	21d	1	0.33mi
4423 West Dr North Little Rock, AR	3.0	1.0	1322	$1,400	$1.06	21d	1	0.33mi
5708 Sonora Dr North Little Rock, AR	3.0	1.0	900	$1,100	$1.22	23d	1	0.40mi
407 Rock St North Little Rock, AR	3.0	1.0	1236	$1,395	$1.13	43d	1	0.49mi
2214 Coors Dr North Little Rock, AR	3.0	2.0	1096	$1,050	$0.96	23d	1	0.56mi
11 Sweet Rose Ln North Little Rock, AR	3.0	1.0	950	$1,150	$1.21	43d	1	0.67mi
5 Sweet Rose Ln North Little Rock, AR	3.0	1.5	960	$1,150	$1.20	23d	1	0.69mi
5218 Nelbrook Dr North Little Rock, AR	3.0	1.0	954	$1,080	$1.13	23d	1	0.88mi
5219 Pike Ave North Little Rock, AR	3.0	1.0	1189	$1,195	$1.01	23d	1	0.95mi
5423 Pike Ave North Little Rock, AR	3.0	2.0	1296	$1,100	$0.85	23d	1	0.98mi
5804 Foxboro Dr North Little Rock, AR	3.0	2.0	1071	$1,200	$1.12	23d	1	1.11mi
605 W Scenic Dr North Little Rock, AR	3.0	2.0	1040	$1,050	$1.01	43d	1	1.11mi
5 Foxboro Ct North Little Rock, AR	3.0	2.0	1270	$1,350	$1.06	43d	1	1.15mi
407 W 51st St North Little Rock, AR	3.0	2.0	1368	$1,300	$0.95	43d	1	1.30mi
5612 Crescent Dr North Little Rock, AR	3.0	2.0	1275	$1,150	$0.90	19d	1	1.33mi
4017 Mellene Dr North Little Rock, AR	3.0	1.0	1094	$1,150	$1.05	43d	1	1.42mi

Listing history 29 events

1. 2026-06-18
   days on market $130,000 Active 62 DOM
2. 2026-06-17
   days on market $130,000 Active 61 DOM
3. 2026-06-16
   days on market $130,000 Active 60 DOM
4. 2026-06-15
   days on market $130,000 Active 59 DOM
5. 2026-06-14
   days on market $130,000 Active 57 DOM
6. 2026-06-13
   days on market $130,000 Active 56 DOM
7. 2026-06-10
   days on market $130,000 Active 54 DOM
8. 2026-06-09
   days on market $130,000 Active 53 DOM
9. 2026-06-08
   statusdays on market $130,000 Active 52 DOM
10. 2026-06-07
    days on market $130,000 Price Change 51 DOM
11. 2026-06-05
    days on market $130,000 Price Change 48 DOM
12. 2026-06-03
    days on market $130,000 Price Change 47 DOM
13. 2026-06-02
    pricestatusdays on market $130,000 Price Change 46 DOM
14. 2026-06-01
    days on market $138,500 Active 45 DOM
15. 2026-05-31
    days on market $138,500 Active 44 DOM
16. 2026-05-31
    days on market $138,500 Active 43 DOM
17. 2026-04-17
    listed $138,500 New Listing 762-char remark

    Show marketing remark (762 chars)

    INVESTOR OPPORTUNITY! Duplex with one unit leased at $600/month (month-to-month) and one unit vacant—ready for a new tenant. Each unit is approximately 500 sq ft (1,000 sq ft total) with garage and off-street parking. Tenants pay all utilities and handle lawn care for low-maintenance ownership. Recent updates include new gas water heaters, updated plumbing and electrical, and HVAC units approximately 4 and 6 years old. Roof is approximately 10 years old. Refrigerator and stove convey; washer/dryer belong to tenant. Current annual income is $14,400 with projected rents of $600–$650 per unit. Taxes approx. $1,066/year and insurance approx. $1,200/year. Estimated CAP RATE approximately 7%–8% based on projected rents and typical expenses.

18. 2021-04-16
    historical 274-char remark

    Show marketing remark (274 chars)

    N. Little Rock duplex in a good location, good condition, excellent rental history. Hardwood floors, appliances, central heat and air conditioning, garage parking, new French drains. Excellent potential for continued long term income producing property. 1 bedroom / 1 bath.

19. 2021-04-15
    soldstatus $86,500 Sold 274-char remark

    Show marketing remark (274 chars)

    N. Little Rock duplex in a good location, good condition, excellent rental history. Hardwood floors, appliances, central heat and air conditioning, garage parking, new French drains. Excellent potential for continued long term income producing property. 1 bedroom / 1 bath.

20. 2021-03-27
    historical Take Backups 274-char remark

    Show marketing remark (274 chars)

    N. Little Rock duplex in a good location, good condition, excellent rental history. Hardwood floors, appliances, central heat and air conditioning, garage parking, new French drains. Excellent potential for continued long term income producing property. 1 bedroom / 1 bath.

21. 2021-03-25
    price $86,500 274-char remark

    Show marketing remark (274 chars)

    N. Little Rock duplex in a good location, good condition, excellent rental history. Hardwood floors, appliances, central heat and air conditioning, garage parking, new French drains. Excellent potential for continued long term income producing property. 1 bedroom / 1 bath.

22. 2021-03-25
    status Back on Market 274-char remark

    Show marketing remark (274 chars)

    N. Little Rock duplex in a good location, good condition, excellent rental history. Hardwood floors, appliances, central heat and air conditioning, garage parking, new French drains. Excellent potential for continued long term income producing property. 1 bedroom / 1 bath.

23. 2021-01-29
    historical 274-char remark

    Show marketing remark (274 chars)

    N. Little Rock duplex in a good location, good condition, excellent rental history. Hardwood floors, appliances, central heat and air conditioning, garage parking, new French drains. Excellent potential for continued long term income producing property. 1 bedroom / 1 bath.

24. 2021-01-18
    listed $89,000 New Listing 274-char remark

    Show marketing remark (274 chars)

    N. Little Rock duplex in a good location, good condition, excellent rental history. Hardwood floors, appliances, central heat and air conditioning, garage parking, new French drains. Excellent potential for continued long term income producing property. 1 bedroom / 1 bath.

25. 2019-08-23
    historical
26. 2019-04-19
    listed $415,000 New Listing
27. 2017-03-17
    soldstatus $50,000
28. 2017-01-30
    historical
29. 2017-01-30
    listed $50,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 18 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 10% 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: $20,808
• − Mortgage interest: −$7,282
• − Property taxes: −$1,950
• − Insurance: −$650
• − Repairs & maintenance: −$1,665
• − Management: −$1,665
• − Depreciation: −$3,782
• Taxable income: $3,815
• Est. tax owed @ 24.0%: −$916
• After-tax cash flow: $4,742/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 · 12 photos

Fair 45/100 Moderate rehab

This multi-family property requires moderate repairs and maintenance to improve its condition and value. Key areas for improvement include the kitchen, bathrooms, exterior, and HVAC units.

Repairs flagged

• Moderate Kitchen cabinets — Worn and dated appearance
• Minor Bathroom fixtures — Clean but dated appearance
• Moderate Exterior siding — Discoloration and wear
• Moderate Interior walls — Faded and uneven paint
• Minor Windows — May need cleaning or replacement
• Moderate HVAC units — May need maintenance

Value-add opportunities

• Both Paint interior walls — Fresh paint can improve the overall appearance and value of the property
• Both Replace worn kitchen cabinets — New cabinets can significantly enhance the kitchen's functionality and aesthetic
• Both Replace dated bathroom fixtures — Modern fixtures can improve the bathroom's functionality and appearance
• Both Upgrade HVAC units — Upgraded HVAC can improve comfort and energy efficiency, increasing both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Worn and dated appearance	Moderate	$3,000–15,000
Bathroom fixtures · Clean but dated appearance	Minor	$500–3,000
Exterior siding · Discoloration and wear	Moderate	$3,000–15,000
Interior walls · Faded and uneven paint	Moderate	$3,000–15,000
Windows · May need cleaning or replacement	Minor	$500–3,000
HVAC units · May need maintenance	Moderate	$3,000–15,000
Total estimated repair cost · 6 items		$13,000–66,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint can improve the overall appearance and value of the property ↑
• Both Replace worn kitchen cabinets — New cabinets can significantly enhance the kitchen's functionality and aesthetic ↑
• Both Replace dated bathroom fixtures — Modern fixtures can improve the bathroom's functionality and appearance ↑
• Both Upgrade HVAC units — Upgraded HVAC can improve comfort and energy efficiency, increasing both resale and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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
• County: Pulaski County · 372,764 people
• City population: 55,470
• Metro: Little Rock-North Little Rock-Conway, AR
• Population (ZIP): 22,913
• Household income: $49,559
• Rent vs Own: 48.8% rent · 51.2% own
• Severe rent burden: 1149.0

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 0.64)
• Race & ethnicity: Black 42% White 42% Hispanic / Latino 11% Two or more races 5%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Lithuanian 2% Slovak 1% Italian 1%
• Foreign-born: 7% · Canada
• Languages at home: 89% English-only · Spanish 10%

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: ▼ -39.32%
• Current HPI: 180.6901
• Rent YoY: ▲ 5.47%
• 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

+177.0% since first listed

13 events — show timeline

• 2026-04-17 Listed $138,500 CARMLS
• 2021-04-16 Listing Removed — CARMLS
• 2021-04-15 Sold (MLS) $86,500 CARMLS
• 2021-03-27 Contingent — CARMLS
• 2021-03-25 Price Changed $86,500 CARMLS
• 2021-03-25 Relisted — CARMLS
• 2021-01-29 Listing Removed — CARMLS
• 2021-01-18 Listed $89,000 CARMLS
• 2019-08-23 Listing Removed — CARMLS
• 2019-04-19 Listed $415,000 CARMLS
• 2017-03-17 Sold (MLS) $50,000 CARMLS
• 2017-01-30 Listed $50,000 CARMLS
• 2017-01-30 Listing Removed — CARMLS