505 W 51st St · North Little Rock, AR 72118

$85,000

2 bd · 1.5 ba · 898 sqft · SingleFamily public records · 96 Days on market

Built 1954 8,276 sqft lot $95/sqft · 7% below area Est $91k · 7% under

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Why this score? — see what drove the C+ 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 +26.5/30.0
• ARV discount +10.5/15.0
• DSCR +9.1/10.0
• 1% rule +6.3/10.0
• 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

This 2-bedroom, 1-bath home featuring a bonus room would make the perfect investment property or first-time buyer's purchase. It has a new hot water tank, a new roof, new furnace, and new windows. The storage building has electricity. Your next big investment starts here!! Call or Text Agent. No Property Disclosure.

Key facts

• New furnace
• New hot water tank
• Bonus room

Tags

• NEW HOT WATER TANK
• NEW ROOF
• NEW FURNACE
• NEW WINDOWS
• BONUS ROOM
• DETACHED

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $226 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($960 rent vs $85k).
• Recommended offer: $77k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.5% vs local median 5.1% 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: schools D+, crime F, amenities F.
• 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.
• Market conditions: Rents rising fast (+5.5%/yr); 105 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 45d 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 $588 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 + 5.5% rent growth), your $24k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 96 days — a 9% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 13y ago; this cycle's ask has dropped $5k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; list at $85k implies a 70% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1954 — 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 $77,350 (9.0% below list)

Questions for the listing agent

1. It's been on market 96 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 1954 — 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. 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?
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: 1.13% ✓
• Cap rate: 9.48%
• Cash-on-cash: 11.40%
• DSCR: 1.51
• GRM: 7.4

CMA / ARV

• ARV (median comp): $91,115
• List price: $85,000
• Delta: -6.71%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
412 W 51st St	0.04mi	2/1.0	960 (+7%)	7mo	$32,000	$33	79
4618 Pike Ave	0.44mi	2/1.5	875 (-3%)	1mo	$140,000	$160	74
5311 Wood St	0.43mi	3/1.0 (+1)	888 (-1%)	1mo	$100,225	$113	70
4508 Maple St	0.48mi	2/1.0	896 (-0%)	7mo	$106,000	$118	69
205 Wisteria Dr	0.46mi	3/1.0 (+1)	900 (+0%)	5mo	$62,000	$69	67
5008 Longview Dr	0.38mi	3/1.0 (+1)	936 (+4%)	5mo	$75,500	$81	64
5321 Marion St	0.30mi	3/1.0 (+1)	840 (-6%)	8mo	$93,000	$111	62
321 W 47th	0.38mi	3/1.0 (+1)	962 (+7%)	4mo	$85,000	$88	60
909 W 42nd St	0.60mi	2/1.0	931 (+4%)	8mo	$109,000	$117	57
408 W M Ave	0.72mi	2/1.0	885 (-1%)	6mo	$104,500	$118	57
5701 Meadowbrook Ln	0.62mi	3/1.5 (+1)	1,032 (+15%)	1mo	$100,200	$97	41
404 W M Ave	0.71mi	2/1.0	766 (-15%)	4mo	$126,000	$164	37

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: 3.2%
• Equity multiple: 1.13×
• Total profit: $3,051
• Equity at exit: $12,674

10-year hold

• IRR: 14.9%
• Equity multiple: 2.33×
• Total profit: $31,676
• Equity at exit: $7,349

Cash invested: $23,800 (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: 105
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $960 high
• Mortgage (P&I): −$446
• Tax from tax record: −$52 /mo · $618/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$202
• Net cashflow: $226

Break-even live

Break-even rent $674

Max offer price $85,000

Occupancy floor 71%

Sensitivity live

Price	-10% $274	-5% $250	+0% $226	+5% $202	+10% $178
Rent	-10% $150	-5% $188	+0% $226	+5% $264	+10% $302
Rate	-1.0pp $269	-0.5pp $248	base $226	+0.5pp $204	+1.0pp $182

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4912 Gum St North Little Rock, AR	2.0	2.0	888	$875	$0.99	24d	1	0.13mi
4922 E Willow St Unit A North Little Rock, AR	2.0	1.0	670	$803	$1.20	15d	1	0.16mi
711 W 54th St North Little Rock, AR	2.0	1.5	936	$925	$0.99	44d	1	0.25mi
109 Farmere Cir North Little Rock, AR	3.0	1.0	1051	$1,190	$1.13	44d	1	0.26mi
5413 N Main St North Little Rock, AR	3.0	1.0	1107	$1,075	$0.97	44d	1	0.39mi
5218 Nelbrook Dr North Little Rock, AR	3.0	1.0	954	$1,080	$1.13	24d	1	0.43mi
4926 Francis St Unit B North Little Rock, AR	2.0	1.0	900	$700	$0.78	24d	1	0.49mi
4748 Ridge Rd North Little Rock, AR	2.0	1.0	869	$1,125	$1.29	15d	1	0.57mi
5804 Foxboro Dr North Little Rock, AR	3.0	2.0	1071	$1,200	$1.12	24d	1	0.58mi
405 Paula Dr North Little Rock, AR	3.0	1.0	962	$1,095	$1.14	44d	1	0.61mi
4017 Mellene Dr North Little Rock, AR	3.0	1.0	1094	$1,150	$1.05	44d	1	0.61mi
4907 Augusta Cir North Little Rock, AR	1.0–2.0	1.0–1.5	747	$835	$1.12	15d	12	0.69mi
4000 Emerson Dr North Little Rock, AR	3.0	2.0	1046	$1,195	$1.14	20d	1	0.69mi
5732 Camp Robinson Rd Unit 4 North Little Rock, AR	2.0	1.5	1100	$800	$0.73	44d	1	0.69mi
58 Somerset Dr North Little Rock, AR	3.0	1.0	910	$1,150	$1.26	44d	1	0.70mi
5732 Camp Robinson Rd Apt 5 North Little Rock, AR	2.0	1.5	1100	$775	$0.70	44d	1	0.70mi
1707 Arrowhead Rd North Little Rock, AR	1.0–2.0	1.0–1.5	656	$865	$1.32	15d	15	0.74mi
5703 Del Prado St North Little Rock, AR	3.0	1.5	1050	$1,395	$1.33	24d	1	0.74mi
402 W K St North Little Rock, AR	2.0	1.0	825	$750	$0.91	44d	1	0.76mi
5 Oakview Dr North Little Rock, AR	3.0	1.0	884	$995	$1.13	44d	1	0.82mi
325 W I Ave North Little Rock, AR	2.0	1.0	1100	$1,300	$1.18	15d	1	0.82mi
600 W M St Unit 3 North Little Rock, AR	2.0	1.0	650	$550	$0.85	44d	1	0.82mi
319 W I Ave North Little Rock, AR	2.0	1.0	720	$825	$1.15	44d	1	0.83mi
604 W M Ave Unit 101 North Little Rock, AR	2.0	1.0	660	$575	$0.87	24d	1	0.84mi
114 Rim Rock Pl Unit D North Little Rock, AR	2.0	1.5	1100	$795	$0.72	44d	1	0.85mi
804 W 37th St North Little Rock, AR	2.0	1.0	744	$895	$1.20	44d	1	0.88mi
4905 N Walnut Rd North Little Rock, AR	1.0	1.0	650	$600	$0.92	15d	1	0.91mi
515 W 35th St North Little Rock, AR	1.0	1.0	880	$695	$0.79	24d	1	0.98mi
509 W 35th St North Little Rock, AR	2.0	1.0	740	$800	$1.08	44d	1	0.98mi
508 W 35th St North Little Rock, AR	2.0	1.0	876	$850	$0.97	24d	1	1.00mi
3423 Chandler St Unit B North Little Rock, AR	2.0	1.0	928	$725	$0.78	44d	1	1.01mi
4901 Hickory Ave Unit B North Little Rock, AR	2.0	1.0	900	$825	$0.92	44d	1	1.01mi
3418 Gum St North Little Rock, AR	1.0	1.0	600	$695	$1.16	24d	1	1.01mi
4805 Hickory Ave Apt 3 North Little Rock, AR	2.0	1.0	900	$850	$0.94	44d	1	1.02mi
4805 Hickory Ave North Little Rock, AR	2.0	1.0	900	$850	$0.94	15d	1	1.02mi
4815 Hickory Ave North Little Rock, AR	2.0	1.5	900	$775	$0.86	44d	1	1.02mi
10 Theresa Dr North Little Rock, AR	2.0	1.0	1013	$1,999	$1.97	44d	1	1.05mi
3403 Ridge Rd North Little Rock, AR	2.0	1.0	714	$895	$1.25	44d	1	1.13mi
218 W 33rd Pl North Little Rock, AR	2.0	1.0	792	$800	$1.01	44d	1	1.13mi
2214 Coors Dr North Little Rock, AR	3.0	2.0	1096	$1,050	$0.96	24d	1	1.17mi

Listing history 14 events

1. 2026-06-03
   statusdays on market $85,000 Under Contract 96 DOM
2. 2026-06-02
   days on market $85,000 Active 95 DOM
3. 2026-06-01
   days on market $85,000 Active 94 DOM
4. 2026-05-31
   days on market $85,000 Active 93 DOM
5. 2026-05-31
   days on market $85,000 Active 92 DOM
6. 2026-04-10
   price $85,000 317-char remark

   Show marketing remark (317 chars)

   This 2-bedroom, 1-bath home featuring a bonus room would make the perfect investment property or first-time buyer's purchase. It has a new hot water tank, a new roof, new furnace, and new windows. The storage building has electricity. Your next big investment starts here!! Call or Text Agent. No Property Disclosure.

7. 2026-02-27
   listed $90,000 New Listing 317-char remark

   Show marketing remark (317 chars)

   This 2-bedroom, 1-bath home featuring a bonus room would make the perfect investment property or first-time buyer's purchase. It has a new hot water tank, a new roof, new furnace, and new windows. The storage building has electricity. Your next big investment starts here!! Call or Text Agent. No Property Disclosure.

8. 2021-03-01
   soldstatus $50,000
9. 2021-02-26
   soldstatus $50,000 Sold 120-char remark

   Show marketing remark (120 chars)

   Awesome investment property or first time home buyer. As is condition but it is in very good condition. Come see and buy

10. 2021-02-12
    historical 120-char remark

    Show marketing remark (120 chars)

    Awesome investment property or first time home buyer. As is condition but it is in very good condition. Come see and buy

11. 2021-02-11
    listed $54,900 New Listing 120-char remark

    Show marketing remark (120 chars)

    Awesome investment property or first time home buyer. As is condition but it is in very good condition. Come see and buy

12. 2013-05-03
    soldstatus $31,750
13. 2013-04-04
    historical
14. 2013-03-29
    listed $33,000

ⓘ 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: $618 · $52/mo
• Projected year-2 tax: $618 · $52/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: $11,526
• − Mortgage interest: −$4,761
• − Property taxes: −$618
• − Insurance: −$425
• − Repairs & maintenance: −$922
• − Management: −$922
• − Depreciation: −$2,473
• Taxable income: $1,404
• Est. tax owed @ 24.0%: −$337
• After-tax cash flow: $2,376/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

+157.6% since first listed

9 events — show timeline

• 2026-04-10 Price Changed $85,000 CARMLS
• 2026-02-27 Listed $90,000 CARMLS
• 2021-03-01 Sold (Public Records) $50,000 Public Records
• 2021-02-26 Sold (MLS) $50,000 CARMLS
• 2021-02-12 Listing Removed — CARMLS
• 2021-02-11 Listed $54,900 CARMLS
• 2013-05-03 Sold (MLS) $31,750 CARMLS
• 2013-04-04 Listing Removed — CARMLS
• 2013-03-29 Listed $33,000 CARMLS

Property tax history

-2.0%/yr

Latest (2025): $618 · +6.0% YoY. Source: county tax records.