1123 Washington · Little Rock, AR 72204

$49,900

2 bd · 1.0 ba · 936 sqft · SingleFamily public records · 7 Days on market

Built 1948 6,534 sqft lot Est $95k · 47% under ↓ 55% since listing

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

INVESTMENT OPPORTUNITY!! Great portfolio add or flip. .. Property is Tenant Occupied; Lease is MONTH TO MONTH, $720 MONTHLY, 24 HR NOTICE TO SHOW. .. SOLD AS-IS Part of a package, could be purchased individually or all together. See MLS#

Key facts

• 6,534 sq ft lot
• Built 1948
• Listed 7 days

🏷️ Possibly a rental listed for sale. The $49,900 price doesn't fit this home's estimated sale value (~$94,536) 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 $50k.

Deal economics

• At list price, monthly cash flow is $454 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($983 rent vs $50k).
• Cap rate 17.2% 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); 55% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $345 of loan paydown is wiped out by about $1k 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 $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1948 — 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 $49,900

Questions for the listing agent

1. Built in 1948 — 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. 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.
5. 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.
6. 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: 1.97% ✓
• Cap rate: 17.20%
• Cash-on-cash: 38.96%
• DSCR: 2.73
• GRM: 4.2

CMA / ARV

• ARV (on-the-fly): $94,536
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1019 Adams St	0.11mi	2/1.0	840 (-10%)	1mo	$86,000	$102	77
4307 W 10th St	0.15mi	2/1.0	828 (-12%)	13mo	$82,000	$99	63
3407 W 12 St	0.66mi	2/1.0	922 (-2%)	5mo	$30,000	$33	62
1404 S Harrison St	0.53mi	2/1.0	950 (+2%)	19mo	$115,000	$121	57
1720 Green Meadow Dr	0.47mi	3/1.0 (+1)	1,020 (+9%)	4mo	$103,500	$101	55
1321 S Fillmore	0.74mi	2/1.0	972 (+4%)	6mo	$130,000	$134	54
1710 S Harrison St	0.62mi	2/1.0	1,014 (+8%)	11mo	$80,000	$79	48
810 S Van Buren St	0.47mi	3/1.0 (+1)	834 (-11%)	9mo	$42,000	$50	48
4523 W 23rd St	0.72mi	3/1.0 (+1)	1,026 (+10%)	2mo	$22,000	$21	44
600 S Maple St	0.63mi	2/1.0	1,052 (+12%)	10mo	$79,900	$76	41
514 S Valentine St	0.71mi	2/2.0	1,026 (+10%)	13mo	$173,000	$169	36
1520 S Taylor St	0.74mi	3/2.0 (+1)	1,050 (+12%)	6mo	$114,000	$109	31

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: 37.3%
• Equity multiple: 2.63×
• Total profit: $22,733
• Equity at exit: $7,440

10-year hold

• IRR: 44.8%
• Equity multiple: 5.67×
• Total profit: $65,218
• Equity at exit: $4,314

Cash invested: $13,972 (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: 4.2×

Monthly cashflow live

• Estimated rent: $983 high
• Mortgage (P&I): −$262
• Tax from tax record: −$40 /mo · $486/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$206
• Net cashflow: $454

Break-even live

Break-even rent $409

Max offer price $49,900

Occupancy floor 49%

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1320 Adams St Little Rock, AR	3.0	1.0	1026	$1,025	$1.00	44d	1	0.15mi
4319 W 17th St Little Rock, AR	2.0	1.0	957	$950	$0.99	44d	1	0.38mi
901 S Harrison St Little Rock, AR	2.0	1.0	1000	$980	$0.98	19d	1	0.49mi
3705 W 12th St Unit B Little Rock, AR	1.0	1.0	598	$650	$1.09	44d	1	0.52mi
1100 Fair Park Blvd Apt 7 Little Rock, AR	1.0	1.0	636	$550	$0.86	21d	1	0.63mi
1100 Fair Park Blvd Little Rock, AR	1.0	1.0	636	$550	$0.86	23d	2	0.63mi
610 S Maple St Unit A Little Rock, AR	2.0	1.0	850	$825	$0.97	23d	1	0.64mi
4304 W 22nd St Little Rock, AR	2.0	1.0	896	$895	$1.00	44d	1	0.65mi
1205 Valmar St Little Rock, AR	2.0	1.0	1100	$1,199	$1.09	44d	1	0.65mi
4613 W 23rd St Unit B Little Rock, AR	2.0	1.0	650	$1,200	$1.85	23d	1	0.73mi
3825 W Markham St Little Rock, AR	2.0	1.0	950	$1,095	$1.15	44d	1	0.83mi
3204 Maryland Ave Little Rock, AR	3.0	1.0	921	$1,095	$1.19	44d	1	0.84mi
306 S Valentine St Little Rock, AR	1.0	1.0	650	$825	$1.27	44d	1	0.85mi
121 N Jackson St Little Rock, AR	1.0	1.0	700	$950	$1.36	44d	1	0.85mi
300 S Valentine St Ste 3 Little Rock, AR	1.0	1.0	605	$1,095	$1.81	44d	1	0.85mi
3109 W 11th St Little Rock, AR	3.0	2.0	1055	$1,295	$1.23	44d	1	0.88mi
422 S Brown St Little Rock, AR	1.0	1.0	550	$725	$1.32	23d	1	0.91mi
901 Johnson St Unit B Little Rock, AR	1.0	1.0	800	$695	$0.87	44d	1	0.93mi
1809 S Buchanan St Little Rock, AR	2.0	1.0	974	$850	$0.87	21d	1	0.94mi
2421 S Oak St Little Rock, AR	3.0	1.0	1092	$950	$0.87	21d	1	0.95mi
1918 Allis St Little Rock, AR	2.0	1.0	868	$895	$1.03	14d	1	0.98mi
2701 Abigail St Little Rock, AR	3.0	1.0	1098	$1,195	$1.09	23d	1	0.99mi
3409 W Markham St Little Rock, AR	1.0	1.0	950	$995	$1.05	23d	1	1.00mi
2300 S Martin St Little Rock, AR	2.0	1.0	840	$795	$0.95	23d	1	1.01mi
201 N Polk St Unit M Little Rock, AR	1.0	1.0	750	$775	$1.03	44d	1	1.03mi
4507 Woodlawn Dr Little Rock, AR	1.0	1.0	850	$750	$0.88	44d	2	1.05mi
1822 Booker St Little Rock, AR	3.0	2.0	1076	$1,195	$1.11	23d	1	1.07mi
408 S Booker St Unit B Little Rock, AR	1.0	1.0	675	$850	$1.26	44d	1	1.09mi
408 Booker St Little Rock, AR	2.0	2.0	936	$1,350	$1.44	44d	1	1.09mi
4000 Woodlawn Dr Unit B Little Rock, AR	1.0	1.0	540	$900	$1.67	23d	1	1.12mi
200 N Fillmore St Apt 6 Little Rock, AR	1.0	1.0	600	$795	$1.32	44d	1	1.14mi
2500 Kavanaugh Blvd Little Rock, AR	1.0	1.0	850	$900	$1.06	14d	3	1.14mi
204 N Fillmore St Apt 1 Little Rock, AR	1.0	1.0	600	$795	$1.32	44d	1	1.14mi
214 N Fillmore St Unit 11 Little Rock, AR	1.0	1.0	600	$795	$1.32	44d	1	1.15mi
201 N Pierce St Little Rock, AR	1.0	1.0	540	$995	$1.84	21d	2	1.16mi
5618 B St Unit 1 Little Rock, AR	2.0	2.0	1100	$1,050	$0.95	44d	1	1.16mi
5618 B St Little Rock, AR	2.0	2.0	1100	$995	$0.90	21d	1	1.16mi
5622 B St Little Rock, AR	1.0	1.0	600	$700	$1.17	23d	1	1.16mi
5600 C St Little Rock, AR	3.0	1.0	1000	$2,700	$2.70	44d	1	1.17mi
220 N Fillmore St Unit 12 Little Rock, AR	1.0	1.0	600	$795	$1.32	44d	1	1.17mi

Listing history 3 events

1. 2026-04-20
   status Under Contract
2. 2026-04-13
   listed $49,900 New Listing
3. 2016-08-19
   soldstatus $110,000

ⓘ 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: $486 · $40/mo
• Projected year-2 tax: $486 · $40/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 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: $11,796
• − Mortgage interest: −$2,795
• − Property taxes: −$486
• − Insurance: −$250
• − Repairs & maintenance: −$944
• − Management: −$944
• − Depreciation: −$1,452
• Taxable income: $4,927
• Est. tax owed @ 24.0%: −$1,182
• After-tax cash flow: $4,261/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

-54.6% since first listed

3 events — show timeline

• 2026-04-20 Pending — CARMLS
• 2026-04-13 Listed $49,900 CARMLS
• 2016-08-19 Sold (Public Records) $110,000 Public Records

Property tax history

+1.9%/yr

Latest (2025): $486 · +0.0% YoY. Source: county tax records.