103 Ray St · North Little Rock, AR 72118

$88,500

2 bd · 1.0 ba · 1,350 sqft · SingleFamily public records · 93 Days on market

Built 1950 0.39 ac lot $66/sqft · 21% below area Est $112k · 21% 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 +28.7/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.1/10.0
• Rent growth +3.9/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity awaits with this investor special. This property is ready for a full refresh and offers potential for buyers willing to take on a renovation project. Large Living Room, Includes 2 Bedrooms with one being a Large Primary Bedroom, dining room and more on a corner lot! Improvements are needed throughout the interior and exterior. Great rental opportunity. Property to be sold as-is.

Key facts

• 0.39 acre lot
• 2 parking spots
• Built 1950

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $88k.

Deal economics

• At list price, monthly cash flow is $-132 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $65k (26.4% below list).
• Meets the 1% rule at list price ($1k rent vs $88k).
• Recommended offer: $65k (26.4% below list) — sets the bar for cash-flow.
• Cap rate 10.3% vs local median 5.0% 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: crime F, amenities F, employment D-.
• 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.
• Zoned schools: Amboy Elementary School (math 17% / reading 17%, grade F, #398 of 454 statewide, top 89%, 482 students, 100% FRL); Lakewood Middle School (math 23% / reading 32%, grade F, #155 of 201 statewide, top 77%, 1,115 students, 100% FRL); North Little Rock High School (math 12% / reading 26%, grade F, #248 of 292 statewide, top 86%, 1,949 students, 100% FRL) — zoned schools average 100% FRL vs 66% district-wide (33 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.5%/yr); 106 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 45% 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 $612 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.

Negotiation context

• It's been on market 93 days — a 9% lower offer ($81k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $65,147 (26.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 93 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.21% ✓
• Cap rate: 10.28%
• Cash-on-cash: 14.25%
• DSCR: 1.63
• GRM: 6.9

CMA / ARV

• ARV (median comp): $112,018
• List price: $88,500
• Delta: -20.99%
• 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
319 Wilson St	0.29mi	3/2.0 (+1)	1,336 (-1%)	5mo	$125,000	$94	72
407 Rock St	0.21mi	2/1.0	1,236 (-8%)	6mo	$45,000	$36	71
1913 Buffalo Trl	0.26mi	3/2.0 (+1)	1,275 (-6%)	1mo	$90,000	$71	69
145 Ray St	0.03mi	3/1.0 (+1)	1,160 (-14%)	2mo	$83,100	$72	68
13 Theresa Dr	0.43mi	2/2.0	1,427 (+6%)	0mo	$80,000	$56	66
808 Shamrock Dr	0.60mi	3/1.0 (+1)	1,300 (-4%)	2mo	$145,000	$112	59
5601 Sonora	0.29mi	3/1.5 (+1)	1,196 (-11%)	7mo	$130,000	$109	54
1304 W 55th St	0.58mi	3/1.5 (+1)	1,287 (-5%)	5mo	$99,090	$77	54
1313 Cody Pl	0.53mi	3/2.0 (+1)	1,255 (-7%)	3mo	$159,000	$127	52
106 Kansas Ave	0.43mi	3/2.0 (+1)	1,526 (+13%)	2mo	$175,000	$115	47
119 Utah St	0.53mi	3/2.0 (+1)	1,487 (+10%)	6mo	$168,000	$113	45
5431 Chauvin Dr	0.71mi	3/1.5 (+1)	1,540 (+14%)	0mo	$96,000	$62	36

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 · 5.47% rent growth · sell at horizon

5-year hold

• IRR: -22.3%
• Equity multiple: 0.20×
• Total profit: $-19,791
• Equity at exit: $13,196

10-year hold

• IRR: -8.4%
• Equity multiple: 0.38×
• Total profit: $-15,319
• Equity at exit: $7,652

Cash invested: $24,780 (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: 106
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,071 high
• Mortgage (P&I): −$464
• Tax from tax record: −$51 /mo · $611/yr
• Insurance: −$37
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $-132

Break-even live

Break-even rent $1,239

Max offer price $65,147

Occupancy floor —

Sensitivity live

Price	-10% $-82	-5% $-107	+0% $-132	+5% $-157	+10% $-182
Rent	-10% $-217	-5% $-175	+0% $-132	+5% $-90	+10% $-48
Rate	-1.0pp $-88	-0.5pp $-110	base $-132	+0.5pp $-155	+1.0pp $-178

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: $22,125
• Closing costs: $2,655
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
407 Rock St North Little Rock, AR	3.0	1.0	1236	$1,395	$1.13	45d	1	0.19mi
426 Sierra Madre Dr North Little Rock, AR	2.0	1.0	1000	$900	$0.90	16d	1	0.26mi
2214 Coors Dr North Little Rock, AR	3.0	2.0	1096	$1,050	$0.96	25d	1	0.33mi
5708 Sonora Dr North Little Rock, AR	3.0	1.0	900	$1,100	$1.22	25d	1	0.38mi
2508 W 58th St North Little Rock, AR	2.0	1.0	1048	$825	$0.79	45d	1	0.39mi
4907 Augusta Cir North Little Rock, AR	1.0–2.0	1.0–1.5	747	$835	$1.12	16d	12	0.43mi
1707 Arrowhead Rd North Little Rock, AR	1.0–2.0	1.0–1.5	656	$865	$1.32	16d	15	0.45mi
10 Theresa Dr North Little Rock, AR	2.0	1.0	1013	$1,999	$1.97	45d	1	0.47mi
5705 Sorenson St Unit B North Little Rock, AR	2.0	1.5	1050	$700	$0.67	16d	1	0.48mi
5709 Sorenson St Unit A North Little Rock, AR	2.0	1.5	950	$725	$0.76	25d	1	0.51mi
5709 Sorenson St Unit A North Little Rock, AR	2.0	1.5	950	$725	$0.76	16d	1	0.51mi
5712 Sorenson St North Little Rock, AR	2.0	1.5	1116	$775	$0.69	23d	1	0.53mi
4926 Francis St Unit B North Little Rock, AR	2.0	1.0	900	$700	$0.78	25d	1	0.56mi
4423 West Dr North Little Rock, AR	3.0	1.0	1322	$1,400	$1.06	23d	1	0.60mi
119 Texas Ave North Little Rock, AR	3.0	1.5	1550	$1,425	$0.92	45d	1	0.61mi
5218 Nelbrook Dr North Little Rock, AR	3.0	1.0	954	$1,080	$1.13	25d	1	0.62mi
5219 Pike Ave North Little Rock, AR	3.0	1.0	1189	$1,195	$1.01	25d	1	0.70mi
5423 Pike Ave North Little Rock, AR	3.0	2.0	1296	$1,100	$0.85	25d	1	0.71mi
5804 Foxboro Dr North Little Rock, AR	3.0	2.0	1071	$1,200	$1.12	25d	1	0.81mi
11 Sweet Rose Ln North Little Rock, AR	3.0	1.0	950	$1,150	$1.21	45d	1	0.84mi
5 Foxboro Ct North Little Rock, AR	3.0	2.0	1270	$1,350	$1.06	45d	1	0.84mi
5 Sweet Rose Ln North Little Rock, AR	3.0	1.5	960	$1,150	$1.20	25d	1	0.86mi
711 W 54th St North Little Rock, AR	2.0	1.5	936	$925	$0.99	45d	1	0.91mi
4116 Moss St North Little Rock, AR	2.0	1.0	1139	$850	$0.75	25d	1	0.97mi
6609 Fitts Rd North Little Rock, AR	2.0	1.5	1300	$700	$0.54	45d	1	1.04mi
4912 Gum St North Little Rock, AR	2.0	2.0	888	$875	$0.99	25d	1	1.06mi
5612 Crescent Dr North Little Rock, AR	3.0	2.0	1275	$1,150	$0.90	21d	1	1.06mi
407 W 51st St North Little Rock, AR	3.0	2.0	1368	$1,300	$0.95	45d	1	1.08mi
405 Paula Dr North Little Rock, AR	3.0	1.0	962	$1,095	$1.14	45d	1	1.25mi
109 Farmere Cir North Little Rock, AR	3.0	1.0	1051	$1,190	$1.13	45d	1	1.28mi
1009 W Scenic Dr North Little Rock, AR	2.0	1.5	1050	$1,100	$1.05	45d	1	1.29mi
4017 Mellene Dr North Little Rock, AR	3.0	1.0	1094	$1,150	$1.05	45d	1	1.32mi
605 W Scenic Dr North Little Rock, AR	3.0	2.0	1040	$1,050	$1.01	45d	1	1.32mi
801 W Scenic Dr North Little Rock, AR	2.0	2.5	1000	$995	$0.99	16d	1	1.32mi
5413 N Main St North Little Rock, AR	3.0	1.0	1107	$1,075	$0.97	45d	1	1.34mi
58 Somerset Dr North Little Rock, AR	3.0	1.0	910	$1,150	$1.26	45d	1	1.35mi
4000 Emerson Dr North Little Rock, AR	3.0	2.0	1046	$1,195	$1.14	21d	1	1.41mi
3423 Chandler St Unit B North Little Rock, AR	2.0	1.0	928	$725	$0.78	45d	1	1.43mi
5 Oakview Dr North Little Rock, AR	3.0	1.0	884	$995	$1.13	45d	1	1.45mi
3619 Sycamore St Unit B North Little Rock, AR	3.0	2.0	1220	$975	$0.80	16d	1	1.47mi

Listing history 18 events

1. 2026-06-21
   days on market $88,500 Active 93 DOM
2. 2026-06-18
   days on market $88,500 Active 90 DOM
3. 2026-06-17
   days on market $88,500 Active 89 DOM
4. 2026-06-16
   days on market $88,500 Active 88 DOM
5. 2026-06-15
   days on market $88,500 Active 87 DOM
6. 2026-06-14
   days on market $88,500 Active 85 DOM
7. 2026-06-13
   days on market $88,500 Active 84 DOM
8. 2026-06-10
   days on market $88,500 Active 82 DOM
9. 2026-06-09
   days on market $88,500 Active 81 DOM
10. 2026-06-08
    days on market $88,500 Active 80 DOM
11. 2026-06-07
    days on market $88,500 Active 79 DOM
12. 2026-06-05
    days on market $88,500 Active 76 DOM
13. 2026-06-03
    days on market $88,500 Active 75 DOM
14. 2026-06-02
    days on market $88,500 Active 74 DOM
15. 2026-06-01
    days on market $88,500 Active 73 DOM
16. 2026-05-31
    days on market $88,500 Active 72 DOM
17. 2026-05-31
    days on market $88,500 Active 71 DOM
18. 2026-03-20
    listed $88,500 New Listing 393-char remark

    Show marketing remark (393 chars)

    Opportunity awaits with this investor special. This property is ready for a full refresh and offers potential for buyers willing to take on a renovation project. Large Living Room, Includes 2 Bedrooms with one being a Large Primary Bedroom, dining room and more on a corner lot! Improvements are needed throughout the interior and exterior. Great rental opportunity. Property to be sold as-is.

ⓘ 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: $611 · $51/mo
• Projected year-2 tax: $611 · $51/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 AE · 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 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: $12,854
• − Mortgage interest: −$4,957
• − Property taxes: −$611
• − Insurance: −$5,561
• − Repairs & maintenance: −$1,028
• − Management: −$1,028
• − Depreciation: −$2,575
• Taxable loss: −$2,906
• Est. tax savings @ 24.0%: +$698
• After-tax cash flow: $-889/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: 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

1 event — show timeline

• 2026-03-20 Listed $88,500 CARMLS

Property tax history

-1.2%/yr

Latest (2025): $611 · +14.2% YoY. Source: county tax records.