2603 Dr Martin Luther King Dr · Little Rock, AR 72206

$104,000

3 bd · 2.0 ba · 1,930 sqft · SingleFamily public records · 95 Days on market

Built 1930 Good condition 6,969 sqft lot $54/sqft · 36% below area Est $162k · 36% under ↓ 6% 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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• Condition / age +3.8/5.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• Schools +0.8/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 2603 Dr. Martin Luther King Dr in Little Rock — a spacious and updated home offering 3 bedrooms, 2 bathrooms, and approximately 1,930 sq ft of living space. This property has seen numerous recent upgrades, including a new roof (2020), laminate flooring installed in 2021, and a new deck added in 2021—perfect for outdoor enjoyment. Both bathrooms have been remodeled (2022 & 2024), and blown-in insulation was added throughout the home in 2022 for improved energy efficiency. A new HVAC system was installed in 2023, providing added comfort and peace of mind.

Key facts

• 6,969 sq ft lot
• Built 1930
• Listed 94 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $104k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $538 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $104k).
• Recommended offer: $95k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.5% 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: 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); 164 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals lingering (median 64d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% 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 $719 of loan paydown is wiped out by about $3k 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 $29k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 95 days — a 9% lower offer ($95k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $11k (10%) 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 $94,640 (9.0% below list)

Questions for the listing agent

1. It's been on market 95 days. Have you received any prior offers? Is the seller open to a 9% 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: 1.45% ✓
• Cap rate: 12.50%
• Cash-on-cash: 22.16%
• DSCR: 1.99
• GRM: 5.7

CMA / ARV

• ARV (median comp): $161,787
• List price: $104,000
• Delta: -35.72%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2909 S Izard St	0.41mi	3/1.0	1,934 (+0%)	2mo	$70,000	$36	75
2124 Wolfe St	0.40mi	3/2.5	2,004 (+4%)	3mo	$60,000	$30	71
1517 W 21st St	0.38mi	4/2.0 (+1)	1,811 (-6%)	0mo	$235,000	$130	67
2711 S Chester St	0.29mi	4/2.0 (+1)	1,987 (+3%)	13mo	$210,000	$106	66
1612 W 23rd St	0.29mi	3/2.0	2,084 (+8%)	13mo	$12,500	$6	63
2110 Wolfe St	0.42mi	3/1.5	2,056 (+6%)	6mo	$50,000	$24	62
1105 W 24th St	0.23mi	3/2.5	2,216 (+15%)	2mo	$288,500	$130	60
1515 W 19th St	0.51mi	3/2.0	1,675 (-13%)	3mo	$44,000	$26	52
2023 S Izard St	0.52mi	3/2.0	1,665 (-14%)	2mo	$193,000	$116	51
2317 S Summit St	0.39mi	4/1.0 (+1)	2,072 (+7%)	13mo	$84,900	$41	50
2815 Broadway St St	0.65mi	3/2.0	1,779 (-8%)	10mo	$85,000	$48	49
2403 S Arch St	0.57mi	2/1.5 (-1)	1,664 (-14%)	-1mo	$249,500	$150	43

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: 15.3%
• Equity multiple: 1.62×
• Total profit: $17,936
• Equity at exit: $15,507

10-year hold

• IRR: 24.2%
• Equity multiple: 3.13×
• Total profit: $61,938
• Equity at exit: $8,992

Cash invested: $29,120 (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: 30 active · 10 under contract
• Months of supply: 11.2 mo (9%/mo absorbed)
• Median asking: $226,250 ($126/sqft)
• Median days on market: 87 d
• This list price: 27% of active listings are priced below it
• ARV vs active asking: -33.7% vs 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: 164
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,513 high
• Mortgage (P&I): −$545
• Tax from tax record: −$69 /mo · $825/yr
• Insurance: −$43
• HOA: −$0
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $538

Break-even live

Break-even rent $832

Max offer price $104,000

Occupancy floor 59%

Sensitivity live

Price	-10% $597	-5% $567	+0% $538	+5% $508	+10% $479
Rent	-10% $418	-5% $478	+0% $538	+5% $598	+10% $657
Rate	-1.0pp $590	-0.5pp $564	base $538	+0.5pp $511	+1.0pp $483

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: $26,000
• Closing costs: $3,120
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1105 W 24th St Little Rock, AR	3.0	2.5	2250	$2,200	$0.98	16d	1	0.24mi
926 W 29th St Little Rock, AR	3.0	1.0	1229	$1,050	$0.85	16d	1	0.34mi
717 W 32nd St Unit A and B Little Rock, AR	3.0	2.5	1300	$1,550	$1.19	63d	1	0.61mi
2712 Broadway St Little Rock, AR	3.0	3.0	2021	$1,695	$0.84	93d	1	0.62mi
2113 W 19th St Little Rock, AR	2.0	1.0	1703	$1,300	$0.76	16d	1	0.63mi
1201 W 35th St Little Rock, AR	3.0	2.5	2400	$2,300	$0.96	72d	1	0.67mi
2900 Center St Little Rock, AR	3.0	1.0	1456	$1,050	$0.72	93d	1	0.79mi
2423 Center St Little Rock, AR	3.0	1.0	1247	$995	$0.80	16d	1	0.79mi
1515 Wolfe St Little Rock, AR	3.0	2.0	1386	$1,100	$0.79	16d	1	0.85mi
2301 W 17th St Little Rock, AR	3.0	1.0	1732	$1,175	$0.68	16d	1	0.90mi
3015 Main St Little Rock, AR	4.0	2.0	1658	$2,350	$1.42	93d	1	0.96mi
2318 Rock St Little Rock, AR	2.0	2.0	1358	$2,200	$1.62	16d	1	1.12mi
2900 W 15th St Little Rock, AR	3.0	1.0	1337	$950	$0.71	93d	1	1.30mi
1401 Cumberland St Little Rock, AR	3.0	1.0	1566	$1,250	$0.80	93d	1	1.35mi
1401 Cumberland St Little Rock, AR	3.0	1.0	1566	$1,295	$0.83	63d	1	1.35mi
606 E 21st St Little Rock, AR	3.0	2.0	1652	$1,600	$0.97	68d	1	1.35mi
1626 S Brown St Little Rock, AR	3.0	2.0	1386	$995	$0.72	16d	1	1.41mi
1626 S Brown St Little Rock, AR	3.0	2.0	1386	$995	$0.72	93d	1	1.41mi
1510 Park Ln Little Rock, AR	3.0	2.0	1284	$1,995	$1.55	16d	1	1.43mi
1812 S Martin St Unit 1812 Little Rock, AR	4.0	2.0	1392	$1,250	$0.90	16d	1	1.43mi
3401 W 17th St Little Rock, AR	3.0	2.0	1370	$1,400	$1.02	93d	1	1.46mi
1004 Scott St Unit 1 Little Rock, AR	2.0	1.0	1398	$1,395	$1.00	72d	1	1.47mi

Property features AI

Exterior

• Parking: Parking pads
• Utilities: Public sewerPublic waterMunicipal electric service (Entergy)
• Home design: Frame exteriorInside city limits
• Construction: Architectural shingle roofCrawl space foundation
• Exterior features: Front porchPaved road accessLevel lot

Interior

• Kitchen: Free-standing stoveElectric rangeMicrowave
• Flooring: Wood flooringTile flooringLaminate flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning (electric)Central heating
• Interior features: Wood, tile, and laminate floorsDen / family room

Listing history 50 events

1. 2026-08-08
   days on market $104,000 Active 95 DOM
2. 2026-08-07
   days on market $104,000 Active 94 DOM
3. 2026-08-06
   days on market $104,000 Active 93 DOM
4. 2026-08-05
   days on market $104,000 Active 92 DOM
5. 2026-08-04
   days on market $104,000 Active 91 DOM
6. 2026-08-03
   days on market $104,000 Active 90 DOM
7. 2026-07-31
   days on market $104,000 Active 87 DOM
8. 2026-07-30
   days on market $104,000 Active 86 DOM
9. 2026-07-29
   days on market $104,000 Active 85 DOM
10. 2026-07-27
    days on market $104,000 Active 83 DOM
11. 2026-07-25
    days on market $104,000 Active 81 DOM
12. 2026-07-24
    days on market $104,000 Active 80 DOM
13. 2026-07-23
    days on market $104,000 Active 79 DOM
14. 2026-07-22
    days on market $104,000 Active 78 DOM
15. 2026-07-21
    days on market $104,000 Active 77 DOM
16. 2026-07-18
    days on market $104,000 Active 74 DOM
17. 2026-07-16
    days on market $104,000 Active 72 DOM
18. 2026-07-16
    statusdays on market $104,000 Active 71 DOM
19. 2026-07-14
    days on market $104,000 Price Change 70 DOM
20. 2026-07-13
    days on market $104,000 Price Change 69 DOM
21. 2026-07-12
    days on market $104,000 Price Change 68 DOM
22. 2026-07-11
    days on market $104,000 Price Change 67 DOM
23. 2026-07-10
    days on market $104,000 Price Change 66 DOM
24. 2026-07-09
    pricestatusdays on market $104,000 Price Change 65 DOM
25. 2026-07-07
    days on market $108,000 Active 63 DOM
26. 2026-07-06
    days on market $108,000 Active 62 DOM
27. 2026-07-05
    days on market $108,000 Active 61 DOM
28. 2026-07-04
    days on market $108,000 Active 60 DOM
29. 2026-07-03
    days on market $108,000 Active 59 DOM
30. 2026-07-02
    days on market $108,000 Active 58 DOM
31. 2026-07-01
    days on market $108,000 Active 57 DOM
32. 2026-06-30
    days on market $108,000 Active 56 DOM
33. 2026-06-29
    days on market $108,000 Active 55 DOM
34. 2026-06-28
    days on market $108,000 Active 54 DOM
35. 2026-06-28
    days on market $108,000 Active 53 DOM
36. 2026-06-27
    days on market $108,000 Active 52 DOM
37. 2026-06-25
    days on market $108,000 Active 50 DOM
38. 2026-06-23
    days on market $108,000 Active 48 DOM
39. 2026-06-21
    statusdays on market $108,000 Active 47 DOM
40. 2026-06-18
    days on market $108,000 Back on Market 44 DOM
41. 2026-06-17
    days on market $108,000 Back on Market 43 DOM
42. 2026-06-16
    days on market $108,000 Back on Market 42 DOM
43. 2026-06-15
    days on market $108,000 Back on Market 41 DOM
44. 2026-06-14
    statusdays on market $108,000 Back on Market 39 DOM
45. 2026-06-13
    days on market $108,000 Take Backups 38 DOM
46. 2026-06-10
    days on market $108,000 Take Backups 36 DOM
47. 2026-06-09
    days on market $108,000 Take Backups 35 DOM
48. 2026-06-08
    days on market $108,000 Take Backups 34 DOM
49. 2026-06-05
    days on market $108,000 Take Backups 30 DOM
50. 2026-06-03
    days on market $108,000 Take Backups 29 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: $825 · $69/mo
• Projected year-2 tax: $825 · $69/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 11% 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: $18,156
• − Mortgage interest: −$5,826
• − Property taxes: −$825
• − Insurance: −$520
• − Repairs & maintenance: −$1,453
• − Management: −$1,453
• − Depreciation: −$3,025
• Taxable income: $5,055
• Est. tax owed @ 24.0%: −$1,213
• After-tax cash flow: $5,240/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

Good 75/100 Cosmetic rehab Est. rehab $9,650–$28,950 screening

This well-maintained single-family home features updated interiors and exteriors, with a new roof and HVAC system. It is move-in ready and offers a good return on investment.

Deferred maintenance Est. $50,000–$150,000 screening

• Major Roof (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — roof appears damaged and missing shingles
• Major Windows (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — windows appear old and possibly not sealed properly
• Major Electrical (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — electrical panel appears old and possibly not up to code
• Major Plumbing (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — plumbing fixtures appear old and possibly not up to code
• Major Exterior (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — exterior siding appears old and possibly not up to code

Value-add opportunities

• Both Painting exterior siding — Enhances curb appeal and can increase property value. ↑
• Both Landscaping improvements — Enhances curb appeal and can increase property value. ↑
• Both Reorganizing interior spaces — Can improve functionality and increase appeal to potential buyers/renters. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic 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%
• Common ancestry: Iranian 1% Italian 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• 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

Property features AI

Exterior

• Parking: Parking pads
• Utilities: Public sewerPublic waterMunicipal electric service (Entergy)
• Home design: Frame exteriorInside city limits
• Construction: Architectural shingle roofCrawl space foundation
• Exterior features: Front porchPaved road accessLevel lot

Interior

• Kitchen: Free-standing stoveElectric rangeMicrowave
• Flooring: Wood flooringTile flooringLaminate flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning (electric)Central heating
• Interior features: Wood, tile, and laminate floorsDen / family room

Price history

-6.1% since first listed

6 events — show timeline

• 2026-06-13 Relisted — CARMLS
• 2026-05-23 Contingent — CARMLS
• 2026-05-15 Relisted — CARMLS
• 2026-05-14 Contingent — CARMLS
• 2026-05-14 Price Changed $108,000 CARMLS
• 2026-05-05 Listed $115,000 CARMLS

Property tax history

+5.6%/yr

Latest (2025): $825 · +7.7% YoY. Source: county tax records.