2319 W 18th St · Little Rock, AR 72202

$125,000

4 bd · 2.0 ba · 2,020 sqft · Other public records · 116 Days on market

Built 1920 Fair condition 10,018 sqft lot $62/sqft · 41% below area Est $213k · 41% under

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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 +29.2/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• Condition / age +2.2/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Calling all investors. This property is located in the historic area near the Historic Little Rock Central High School. This area is in the midst of redevelopment with unlimited potential. This area is considered a contributing historic area. Some contributing historic area preservation projects qualify for grants, however investors must complete their own research for qualifications. This property features two units with unlimited rehab potential. This property has income potential.

Key facts

• Income potential
• Historic area
• Two units

Tags

• HISTORIC AREA
• REDEVELOPMENT POTENTIAL
• CONTRIBUTING HISTORIC AREA
• INCOME POTENTIAL
• TWO UNITS

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $125k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $435 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $114k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.5% 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: M.L. King Elementary School (math 2% / reading 2%, grade F, #452 of 454 statewide, top 100%, 341 students, 86% FRL); Dunbar Magnet Middle School (math 6% / reading 13%, grade F, #196 of 201 statewide, top 98%, 320 students, 90% FRL); Central High School (math 32% / reading 42%, grade F, #64 of 292 statewide, top 26%, 2,338 students, 53% FRL).
• Market conditions: Rents rising (+3.2%/yr); 97 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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).
• This rent runs 39% of the median local income ($51k/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 $864 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 + 3.2% rent growth), your $35k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 116 days — a 9% lower offer ($114k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — 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 $113,750 (9.0% below list)

Questions for the listing agent

1. It's been on market 116 days. Have you received any prior offers? Is the seller open to a 9% 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 1920 — 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: 1.31% ✓
• Cap rate: 10.47%
• Cash-on-cash: 14.93%
• DSCR: 1.66
• GRM: 6.3

CMA / ARV

• ARV (median comp): $212,743
• List price: $125,000
• Delta: -41.24%
• Verdict: UNDERPRICED
• Comps: 18 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4322 W 17th St	1.29mi	3/2.0 (-1)	2,086 (+3%)	1mo	$69,900	$34	54
1517 W 21st St	0.62mi	4/2.0	1,811 (-10%)	0mo	$235,000	$130	54
2205 W 13 St	0.36mi	3/2.0 (-1)	1,590 (-21%)	0mo	$230,000	$145	53
131 Booker St	1.16mi	3/2.0 (-1)	1,845 (-9%)	2mo	$278,000	$151	44
2521 S Maple St	0.94mi	4/2.0	1,600 (-21%)	2mo	$50,000	$31	38
2009 S Spring St	1.34mi	3/2.0 (-1)	1,516 (-25%)	-1mo	$335,000	$221	35
311 S Martin St	1.24mi	3/2.0 (-1)	1,621 (-20%)	0mo	$299,900	$185	35
321 Johnson St	1.10mi	3/2.0 (-1)	1,657 (-18%)	0mo	$305,000	$184	35
4323 W 11th St	1.38mi	3/2.0 (-1)	1,626 (-20%)	1mo	$25,000	$15	34
4102 W 21st St	1.12mi	3/2.0 (-1)	1,600 (-21%)	1mo	$22,700	$14	34
617 N Uams / Pine St	1.25mi	3/— (-1)	1,564 (-23%)	2mo	$205,000	$131	34
2023 S Izard St	1.01mi	3/2.0 (-1)	1,665 (-18%)	2mo	$193,000	$116	33

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 · 3.25% rent growth · sell at horizon

5-year hold

• IRR: 5.8%
• Equity multiple: 1.23×
• Total profit: $7,909
• Equity at exit: $18,638

10-year hold

• IRR: 15.4%
• Equity multiple: 2.27×
• Total profit: $44,396
• Equity at exit: $10,808

Cash invested: $35,000 (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 72202

• Home prices YoY: -25.6%
• Rents YoY: 3.2%
• Active inventory: 97
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,643 high
• Mortgage (P&I): −$656
• Tax from tax record: −$155 /mo · $1,865/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $435

Break-even live

Break-even rent $1,092

Max offer price $125,000

Occupancy floor 69%

Sensitivity live

Price	-10% $506	-5% $471	+0% $435	+5% $400	+10% $365
Rent	-10% $305	-5% $370	+0% $435	+5% $500	+10% $565
Rate	-1.0pp $498	-0.5pp $467	base $435	+0.5pp $403	+1.0pp $370

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: $31,250
• Closing costs: $3,750
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2301 W 17th St Little Rock, AR	3.0	1.0	1732	$1,175	$0.68	16d	1	0.06mi
1105 W 24th St Little Rock, AR	3.0	2.5	2250	$2,200	$0.98	16d	1	0.96mi
212 Rice St Little Rock, AR	3.0	2.0	1442	$1,795	$1.24	68d	1	1.03mi
106 Fountain Ave Little Rock, AR	3.0	2.0	1600	$1,600	$1.00	93d	1	1.14mi
4022 W 25th St Little Rock, AR	3.0	1.0	1674	$1,025	$0.61	93d	1	1.15mi
106 S Summit St Little Rock, AR	3.0	2.0	1650	$1,695	$1.03	16d	1	1.16mi
108 Pearl Ave Little Rock, AR	3.0	2.0	1600	$2,450	$1.53	16d	1	1.17mi
3615 W Capitol Ave Little Rock, AR	4.0	2.0	1410	$1,495	$1.06	16d	1	1.22mi
442 S Maple St Unit 1 Little Rock, AR	3.0	2.5	1826	$2,500	$1.37	16d	1	1.26mi
303 N Woodrow St Little Rock, AR	3.0	2.0	2204	$2,750	$1.25	72d	1	1.37mi
303 N Woodrow St Little Rock, AR	3.0	2.0	2204	$2,750	$1.25	16d	1	1.37mi
200 Ridgeway Dr Little Rock, AR	3.0	2.0	2500	$2,500	$1.00	16d	1	1.38mi
325 Midland St Little Rock, AR	3.0	2.0	1647	$2,675	$1.62	93d	1	1.40mi
2712 Broadway St Little Rock, AR	3.0	3.0	2021	$1,695	$0.84	93d	1	1.43mi

Listing history 20 events

1. 2026-06-18
   days on market $125,000 Active 116 DOM
2. 2026-06-17
   days on market $125,000 Active 115 DOM
3. 2026-06-16
   days on market $125,000 Active 114 DOM
4. 2026-06-15
   days on market $125,000 Active 113 DOM
5. 2026-06-14
   days on market $125,000 Active 111 DOM
6. 2026-06-13
   days on market $125,000 Active 110 DOM
7. 2026-06-10
   days on market $125,000 Active 108 DOM
8. 2026-06-09
   days on market $125,000 Active 107 DOM
9. 2026-06-08
   days on market $125,000 Active 106 DOM
10. 2026-06-05
    days on market $125,000 Active 102 DOM
11. 2026-06-03
    days on market $125,000 Active 101 DOM
12. 2026-06-02
    days on market $125,000 Active 100 DOM
13. 2026-06-01
    days on market $125,000 Active 99 DOM
14. 2026-05-31
    days on market $125,000 Active 98 DOM
15. 2026-05-31
    days on market $125,000 Active 97 DOM
16. 2026-05-18
    price $125,000 488-char remark

    Show marketing remark (488 chars)

    Calling all investors. This property is located in the historic area near the Historic Little Rock Central High School. This area is in the midst of redevelopment with unlimited potential. This area is considered a contributing historic area. Some contributing historic area preservation projects qualify for grants, however investors must complete their own research for qualifications. This property features two units with unlimited rehab potential. This property has income potential.

17. 2026-03-07
    price $130,000 488-char remark

    Show marketing remark (488 chars)

    Calling all investors. This property is located in the historic area near the Historic Little Rock Central High School. This area is in the midst of redevelopment with unlimited potential. This area is considered a contributing historic area. Some contributing historic area preservation projects qualify for grants, however investors must complete their own research for qualifications. This property features two units with unlimited rehab potential. This property has income potential.

18. 2026-02-22
    listed $135,000 New Listing 488-char remark

    Show marketing remark (488 chars)

    Calling all investors. This property is located in the historic area near the Historic Little Rock Central High School. This area is in the midst of redevelopment with unlimited potential. This area is considered a contributing historic area. Some contributing historic area preservation projects qualify for grants, however investors must complete their own research for qualifications. This property features two units with unlimited rehab potential. This property has income potential.

19. 2023-04-12
    soldstatus $130,000
20. 2012-04-26
    soldstatus $20,000

ⓘ 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: $1,865 · $155/mo
• Projected year-2 tax: $1,865 · $155/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 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 19 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: $19,721
• − Mortgage interest: −$7,002
• − Property taxes: −$1,865
• − Insurance: −$625
• − Repairs & maintenance: −$1,578
• − Management: −$1,578
• − Depreciation: −$3,636
• Taxable income: $3,438
• Est. tax owed @ 24.0%: −$825
• After-tax cash flow: $4,399/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 $50,500–$90,900 screening

This property requires significant repairs and maintenance, including a new roof, HVAC unit, and exterior siding. However, with these updates, it has the potential to become a move-in-ready home with increased resale and rental value.

Deferred maintenance Est. $70,000–$210,000 screening

• Major Roof (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — roof appears to be in poor condition with visible damage and missing shingles
• Major Hvac (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — hvac unit appears to be old and in poor condition with visible rust and corrosion
• Major Windows (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — windows appear to be old and in poor condition with visible damage and missing glass
• Major Electrical (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — electrical panel appears to be old and in poor condition with visible rust and corrosion
• Major Plumbing (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — plumbing fixtures appear to be old and in poor condition with visible rust and corrosion
• Major Exterior (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — exterior walls appear to be in poor condition with visible damage and missing siding
• Major Other (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — other components appear to be in poor condition with visible damage and missing parts

Repairs flagged

• Major roof — The roof appears to be in poor condition, with visible wear and tear.
• Major exterior siding — The exterior siding shows signs of wear and discoloration, and the foundation appears uneven.
• Major HVAC unit — The HVAC unit appears to be old and may need replacement or repair.

Value-add opportunities

• Both repair and replace roof — A new roof will significantly improve the home's appearance and functionality, attracting more buyers and renters. ↑
• Both repair and replace HVAC unit — A new HVAC unit will improve the home's comfort and energy efficiency, making it more attractive to buyers and renters. ↑
• Both repair and replace exterior siding — A new exterior siding will improve the home's curb appeal and increase its resale and rental value. ↑

ⓘ 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 16/100

Zoned Schools

Elementary M.l. King Elementary School F AR #452/454 Nat'l #41,309/41,679 Middle Dunbar Magnet Middle School F AR #196/201 Nat'l #13,478/14,009 High Central High School F AR #64/292 Nat'l #9,001/17,239

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): 9,704
• Household income: $50,899
• Rent vs Own: 75.7% rent · 24.3% own
• Severe rent burden: 10% 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 0.58)
• Race & ethnicity: White 46% Black 45% Hispanic / Latino 3% Asian 3% Two or more races 3%
• Common ancestry: Italian 3% Lithuanian 3% Slovak 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 92% English-only · Spanish 3% Other Asian/Pacific 2% Other Indo-European 1%

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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: ▼ -68.75%
• Current HPI: 199.3103
• Rent YoY: ▲ 3.25%
• 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

+525.0% since first listed

5 events — show timeline

• 2026-05-18 Price Changed $125,000 CARMLS
• 2026-03-07 Price Changed $130,000 CARMLS
• 2026-02-22 Listed $135,000 CARMLS
• 2023-04-12 Sold (Public Records) $130,000 Public Records
• 2012-04-26 Sold (Public Records) $20,000 Public Records

Property tax history

+6.7%/yr

Latest (2025): $1,865 · +0.0% YoY. Source: county tax records.