904 S Oak · Little Rock, AR 72204

$165,900

3 bd · 2.0 ba · 3,080 sqft · SingleFamily public records · 151 Days on market

Built 1930 0.41 ac lot $54/sqft · 66% below area ↓ 17% 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 +29.6/30.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• ARV discount +7.5/15.0
• Rent growth +3.7/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Built in 1930, this 3,667± SF historic home is packed with character and possibility—formal living and dining, multiple bonus/flex spaces, an upstairs office, and an oversized primary suite with a large sitting area. A very large sunroom floods the home with natural light. Situated on a 0.41-acre lot with a garage, it’s directly across the freeway from UAMS in an area experiencing ongoing revitalization. Once owned by Odies Wilson III—a longtime civic/political figure who served as the City of Little Rock’s ADA Coordinator and ran as a Democratic candidate for Arkansas House District 34. Major renovation needed—sold as-is. Sale is subject to court approval. Agents see remarks!

Key facts

• Upstairs office
• Large sunroom
• 0.41 acre lot

Tags

• HISTORIC HOME
• MULTIPLE BONUS SPACES
• UPSTAIRS OFFICE
• OVERSIZED PRIMARY SUITE
• LARGE SUNROOM
• 0.41 ACRE LOT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $166k.

Deal economics

• At list price, monthly cash flow is $601 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $166k).
• Recommended offer: $146k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.6% 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 fast (+4.9%/yr); 186 active listings in the ZIP; 2 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 1,006 units permitted in Pulaski County in 2024 (0 in 5+ unit buildings).
• At $2,170/mo this rent would consume 64% of the median local household income ($41k/yr) (locally 1553% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• At projected returns (-3.0% appreciation + 4.9% rent growth), your $46k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 151 days — a 12% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $34k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1930 — 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 $145,992 (12.0% below list)

Questions for the listing agent

1. It's been on market 151 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 1930 — 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: 1.31% ✓
• Cap rate: 10.64%
• Cash-on-cash: 15.52%
• DSCR: 1.69
• GRM: 6.4

CMA / ARV

• ARV (median comp): $585,401
• List price: $165,900
• Delta: -71.66%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
100 Colonial Ct	0.60mi	4/3.0 (+1)	2,980 (-3%)	8mo	$325,000	$109	51
102 Midland	0.71mi	4/3.0 (+1)	2,908 (-6%)	7mo	$570,000	$196	42
105 Colonial Ct	0.61mi	4/3.5 (+1)	2,949 (-4%)	15mo	$540,000	$183	41
111 Crystal Ct	0.67mi	3/2.5	2,658 (-14%)	15mo	$485,000	$182	32
117 Crystal Ct	0.68mi	4/2.5 (+1)	2,619 (-15%)	19mo	$565,000	$216	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 · 4.91% rent growth · sell at horizon

5-year hold

• IRR: 8.4%
• Equity multiple: 1.34×
• Total profit: $15,643
• Equity at exit: $24,736

10-year hold

• IRR: 19.2%
• Equity multiple: 2.75×
• Total profit: $81,080
• Equity at exit: $14,344

Cash invested: $46,452 (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 72204

• Home prices YoY: -21.5%
• Rents YoY: 4.9%
• Active inventory: 186
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $2,170 medium
• Mortgage (P&I): −$870
• Tax from tax record: −$175 /mo · $2,097/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$456
• Net cashflow: $601

Break-even live

Break-even rent $1,410

Max offer price $165,900

Occupancy floor 67%

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: $41,475
• Closing costs: $4,977
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
200 Ridgeway Dr Little Rock, AR	3.0	2.0	2500	$2,950	$1.18	44d	1	0.69mi
303 N Woodrow St Little Rock, AR	3.0	2.0	2204	$2,750	$1.25	23d	1	0.93mi

Listing history 21 events

1. 2026-06-16
   days on market $165,900 Active 151 DOM
2. 2026-06-15
   days on market $165,900 Active 150 DOM
3. 2026-06-14
   days on market $165,900 Active 148 DOM
4. 2026-06-13
   days on market $165,900 Active 147 DOM
5. 2026-06-10
   days on market $165,900 Active 145 DOM
6. 2026-06-09
   days on market $165,900 Active 144 DOM
7. 2026-06-08
   days on market $165,900 Active 143 DOM
8. 2026-06-05
   days on market $165,900 Active 139 DOM
9. 2026-06-03
   days on market $165,900 Active 138 DOM
10. 2026-06-02
    days on market $165,900 Active 137 DOM
11. 2026-06-01
    days on market $165,900 Active 136 DOM
12. 2026-05-31
    days on market $165,900 Active 135 DOM
13. 2026-05-31
    days on market $165,900 Active 134 DOM
14. 2026-04-11
    price $165,900 723-char remark

    Show marketing remark (723 chars)

    Built in 1930, this 3,667± SF historic home is packed with character and possibility—formal living and dining, multiple bonus/flex spaces, an upstairs office, and an oversized primary suite with a large sitting area. A very large sunroom floods the home with natural light. Situated on a 0.41-acre lot with a garage, it’s directly across the freeway from UAMS in an area experiencing ongoing revitalization. Once owned by Odies Wilson III—a longtime civic/political figure who served as the City of Little Rock’s ADA Coordinator and ran as a Democratic candidate for Arkansas House District 34. Major renovation needed—sold as-is. Sale is subject to court approval. Agents see remarks!

15. 2026-04-07
    price $174,900 723-char remark

    Show marketing remark (723 chars)

    Built in 1930, this 3,667± SF historic home is packed with character and possibility—formal living and dining, multiple bonus/flex spaces, an upstairs office, and an oversized primary suite with a large sitting area. A very large sunroom floods the home with natural light. Situated on a 0.41-acre lot with a garage, it’s directly across the freeway from UAMS in an area experiencing ongoing revitalization. Once owned by Odies Wilson III—a longtime civic/political figure who served as the City of Little Rock’s ADA Coordinator and ran as a Democratic candidate for Arkansas House District 34. Major renovation needed—sold as-is. Sale is subject to court approval. Agents see remarks!

16. 2026-02-11
    price $179,900 723-char remark

    Show marketing remark (723 chars)

    Built in 1930, this 3,667± SF historic home is packed with character and possibility—formal living and dining, multiple bonus/flex spaces, an upstairs office, and an oversized primary suite with a large sitting area. A very large sunroom floods the home with natural light. Situated on a 0.41-acre lot with a garage, it’s directly across the freeway from UAMS in an area experiencing ongoing revitalization. Once owned by Odies Wilson III—a longtime civic/political figure who served as the City of Little Rock’s ADA Coordinator and ran as a Democratic candidate for Arkansas House District 34. Major renovation needed—sold as-is. Sale is subject to court approval. Agents see remarks!

17. 2026-01-16
    listed $199,900 New Listing 723-char remark

    Show marketing remark (723 chars)

    Built in 1930, this 3,667± SF historic home is packed with character and possibility—formal living and dining, multiple bonus/flex spaces, an upstairs office, and an oversized primary suite with a large sitting area. A very large sunroom floods the home with natural light. Situated on a 0.41-acre lot with a garage, it’s directly across the freeway from UAMS in an area experiencing ongoing revitalization. Once owned by Odies Wilson III—a longtime civic/political figure who served as the City of Little Rock’s ADA Coordinator and ran as a Democratic candidate for Arkansas House District 34. Major renovation needed—sold as-is. Sale is subject to court approval. Agents see remarks!

18. 2025-12-17
    historical
19. 2025-07-25
    listed $238,500 New Listing
20. 2022-10-11
    historical
21. 2022-09-01
    listed $199,500 New Listing

ⓘ 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: $2,097 · $175/mo
• Projected year-2 tax: $2,097 · $175/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 9% 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: $26,045
• − Mortgage interest: −$9,293
• − Property taxes: −$2,097
• − Insurance: −$830
• − Repairs & maintenance: −$2,084
• − Management: −$2,084
• − Depreciation: −$4,826
• Taxable income: $4,832
• Est. tax owed @ 24.0%: −$1,160
• After-tax cash flow: $6,049/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): 30,525
• Household income: $40,882
• Rent vs Own: 41.5% rent · 58.5% own
• Severe rent burden: 1553.0

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: Predominantly Black (66%)
• Race & ethnicity: Black 66% White 18% Hispanic / Latino 12% Two or more races 6%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Slovak 1%
• Foreign-born: 7% · Canada, Vietnam
• Languages at home: 89% English-only · Spanish 9% Vietnamese 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: ▼ -47.17%
• Current HPI: 172.3977
• Rent YoY: ▲ 4.91%
• 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

-16.8% since first listed

8 events — show timeline

• 2026-04-11 Price Changed $165,900 CARMLS
• 2026-04-07 Price Changed $174,900 CARMLS
• 2026-02-11 Price Changed $179,900 CARMLS
• 2026-01-16 Listed $199,900 CARMLS
• 2025-12-17 Listing Removed — CARMLS
• 2025-07-25 Listed $238,500 CARMLS
• 2022-10-11 Listing Removed — CARMLS
• 2022-09-01 Listed $199,500 CARMLS

Property tax history

+2.2%/yr

Latest (2025): $2,097 · +8.3% YoY. Source: county tax records.