1004 Johnson · Little Rock, AR 72204

$9,500

2 bd · 1.0 ba · 900 sqft · SingleFamily public records · 3 Days on market

Built 1930 6,969 sqft lot

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

Very nice lot with large backyard. No entry into structure. Deemed unsafe by the City of Little Rock.

Key facts

• Large backyard
• Detached
• 6,969 sq ft lot

Tags

• LARGE BACKYARD
• DETACHED

🏷️ Possibly a rental listed for sale. The $9,500 price doesn't fit this home's estimated sale value (~$153,000) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $10k.

Deal economics

• At list price, monthly cash flow is $775 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $10k).
• Cap rate 104.2% 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; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,006 units permitted in Pulaski County in 2024 (0 in 5+ unit buildings).
• This rent runs 31% of the median local income ($41k/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 $66 of loan paydown is wiped out by about $285 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 $3k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• 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 $9,500

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
5. 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.
6. 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.
7. 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: 11.15% ✓
• Cap rate: 104.16%
• Cash-on-cash: 349.53%
• DSCR: 16.55
• GRM: 0.7

CMA / ARV

• ARV (on-the-fly): $153,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3407 W 12 St	0.24mi	2/1.0	922 (+2%)	5mo	$30,000	$33	80
3224 W 13th St	0.20mi	2/1.0	870 (-3%)	18mo	$100,000	$115	71
510 Brown St	0.39mi	2/2.0	912 (+1%)	10mo	$176,500	$194	67
512 Brown St	0.38mi	2/1.0	922 (+2%)	19mo	$157,900	$171	63
1613 Johnson St	0.39mi	3/1.0 (+1)	902 (+0%)	19mo	$103,000	$114	61
309 S Martin St	0.55mi	2/1.0	1,000 (+11%)	3mo	$170,000	$170	54
123 Brown St	0.59mi	2/1.0	864 (-4%)	17mo	$175,000	$203	51
2013 S Maple St	0.73mi	2/1.0	936 (+4%)	12mo	$8,000	$9	49
110 S Maple St	0.72mi	2/1.0	932 (+4%)	14mo	$195,000	$209	49
2506 W 6th St	0.51mi	2/1.0	782 (-13%)	7mo	$140,000	$179	49
1912 Booker St	0.58mi	2/1.0	816 (-9%)	16mo	$111,000	$136	44
514 S Valentine St	0.47mi	2/2.0	1,026 (+14%)	13mo	$173,000	$169	40

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: —
• Equity multiple: 19.76×
• Total profit: $49,894
• Equity at exit: $1,416

10-year hold

• IRR: —
• Equity multiple: 44.57×
• Total profit: $115,892
• Equity at exit: $821

Cash invested: $2,660 (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: 0.7×

Monthly cashflow live

• Estimated rent: $1,059 high
• Mortgage (P&I): −$50
• Tax from tax record: −$8 /mo · $95/yr
• Insurance: −$4
• HOA: −$0
• Vacancy / Maint / Mgmt: −$222
• Net cashflow: $775

Break-even live

Break-even rent $78

Max offer price $9,500

Occupancy floor 22%

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: $2,375
• Closing costs: $285
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
901 Johnson St Unit B Little Rock, AR	1.0	1.0	800	$695	$0.87	44d	1	0.04mi
3109 W 11th St Little Rock, AR	3.0	2.0	1055	$1,295	$1.23	44d	1	0.09mi
3204 Maryland Ave Little Rock, AR	3.0	1.0	921	$1,095	$1.19	44d	1	0.11mi
1205 Valmar St Little Rock, AR	2.0	1.0	1100	$1,199	$1.09	44d	1	0.30mi
422 S Brown St Little Rock, AR	1.0	1.0	550	$725	$1.32	23d	1	0.41mi
408 Booker St Little Rock, AR	2.0	2.0	936	$1,350	$1.44	44d	1	0.41mi
408 S Booker St Unit B Little Rock, AR	1.0	1.0	675	$850	$1.26	44d	1	0.41mi
3705 W 12th St Unit B Little Rock, AR	1.0	1.0	598	$650	$1.09	44d	1	0.41mi
610 S Maple St Unit A Little Rock, AR	2.0	1.0	850	$825	$0.97	23d	1	0.47mi
128 S Woodrow St Unit N Little Rock, AR	1.0	1.0	765	$895	$1.17	44d	1	0.53mi
2324 W Daisy L Gatson Bates Dr Unit 1 Little Rock, AR	2.0	1.0	881	$1,095	$1.24	44d	1	0.53mi
2324 W Daisy L Gatson Bates Dr Unit 2 Little Rock, AR	2.0	1.0	881	$1,050	$1.19	23d	1	0.53mi
502 Rice St Little Rock, AR	2.0	1.0	648	$925	$1.43	23d	1	0.55mi
1822 Booker St Little Rock, AR	3.0	2.0	1076	$1,195	$1.11	23d	1	0.57mi
306 S Valentine St Little Rock, AR	1.0	1.0	650	$825	$1.27	44d	1	0.61mi
907 S Park St Little Rock, AR	2.0	2.0	950	$2,100	$2.21	23d	1	0.61mi
1918 Allis St Little Rock, AR	2.0	1.0	868	$895	$1.03	14d	1	0.62mi
300 S Valentine St Ste 3 Little Rock, AR	1.0	1.0	605	$1,095	$1.81	44d	1	0.62mi
217 Thayer St Apt B Little Rock, AR	1.0	1.0	750	$1,500	$2.00	23d	1	0.63mi
1008 Kavanaugh Blvd Unit 3 Little Rock, AR	1.0	1.0	738	$795	$1.08	44d	1	0.64mi
1008 Kavanaugh Blvd Little Rock, AR	1.0	1.0	738	$795	$1.08	21d	1	0.64mi
3409 W Markham St Little Rock, AR	1.0	1.0	950	$995	$1.05	23d	1	0.65mi
1318 S Summit St Little Rock, AR	2.0	1.0	864	$1,050	$1.22	21d	1	0.76mi
1320 S Summit St Little Rock, AR	2.0	1.0	864	$1,050	$1.22	21d	1	0.76mi
3825 W Markham St Little Rock, AR	2.0	1.0	950	$1,095	$1.15	44d	1	0.78mi
109 Barton St Little Rock, AR	2.0	1.0	880	$750	$0.85	23d	1	0.81mi
223 S Park St Apt A Little Rock, AR	1.0	1.0	600	$1,095	$1.82	19d	1	0.82mi
306 S Schiller St Little Rock, AR	3.0	2.0	1037	$1,795	$1.73	44d	1	0.82mi
2300 S Martin St Little Rock, AR	2.0	1.0	840	$795	$0.95	23d	1	0.85mi
4319 W 17th St Little Rock, AR	2.0	1.0	957	$950	$0.99	44d	1	0.92mi
1320 Adams St Little Rock, AR	3.0	1.0	1026	$1,025	$1.00	44d	1	1.00mi
2421 S Oak St Little Rock, AR	3.0	1.0	1092	$950	$0.87	21d	1	1.02mi
2200 Dennison St Little Rock, AR	3.0	1.5	1080	$1,000	$0.93	44d	1	1.03mi
4304 W 22nd St Little Rock, AR	2.0	1.0	896	$895	$1.00	44d	1	1.07mi
1 Coolwood Dr #14 Little Rock, AR	1.0	1.0	588	$825	$1.40	44d	1	1.07mi
1724 W 19th St Unit 2 Little Rock, AR	2.0	1.0	843	$1,150	$1.36	23d	1	1.14mi
1724 W 19th St Apt 3 Little Rock, AR	1.0	1.0	828	$950	$1.15	44d	1	1.14mi
1724 W 19th St Unit 2 Little Rock, AR	2.0	1.0	843	$1,150	$1.36	44d	1	1.14mi
4000 Woodlawn Dr Unit B Little Rock, AR	1.0	1.0	540	$900	$1.67	23d	1	1.15mi
1921 Wolfe St Unit A Little Rock, AR	2.0	2.0	875	$875	$1.00	23d	1	1.18mi

Listing history 2 events

1. 2025-04-14
   status Under Contract
2. 2025-04-10
   listed $9,500 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: $95 · $8/mo
• Projected year-2 tax: $95 · $8/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 · 18 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: $12,706
• − Mortgage interest: −$532
• − Property taxes: −$95
• − Insurance: −$48
• − Repairs & maintenance: −$1,017
• − Management: −$1,017
• − Depreciation: −$276
• Taxable income: $9,722
• Est. tax owed @ 24.0%: −$2,333
• After-tax cash flow: $6,964/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

2 events — show timeline

• 2025-04-14 Pending — CARMLS
• 2025-04-10 Listed $9,500 CARMLS

Property tax history

-13.1%/yr

Latest (2025): $95 · +7.9% YoY. Source: county tax records.