2007 W 38th St · North Little Rock, AR 72118

$99,900

2 bd · 1.0 ba · 846 sqft · SingleFamily public records · 130 Days on market

Built 1988 8,276 sqft lot $118/sqft · 5% below area Est $105k · 5% 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 +22.6/30.0
• ARV discount +9.9/15.0
• DSCR +7.2/10.0
• 1% rule +5.0/10.0
• 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

Charming 2-bedroom, 1-bath home offering 846 sq ft of living space and a great opportunity for a starter home or investment property. Features wood flooring and a new walk-in shower, adding comfort and value. With a little TLC, this home has excellent potential to shine. Conveniently located with easy highway access, making commuting a breeze. Ideal for buyers looking to personalize a home or investors seeking a value-add opportunity. Property sold as-is.

Key facts

• Wood flooring
• New walk-in shower
• Easy highway access

Tags

• WOOD FLOORING
• NEW WALK-IN SHOWER
• EASY HIGHWAY ACCESS
• DETACHED

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $103 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.3% 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: 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); 107 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 42% 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 $691 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 130 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 16y ago; this cycle's ask has dropped $8k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $62k; list at $100k implies a 61% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $87,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 130 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.00% ✓
• Cap rate: 8.33%
• Cash-on-cash: 7.26%
• DSCR: 1.32
• GRM: 8.3

CMA / ARV

• ARV (median comp): $105,493
• List price: $99,900
• Delta: -5.30%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2515 North Dr	0.49mi	2/1.0	830 (-2%)	11mo	$123,000	$148	65
1512 W 35th St	0.36mi	2/1.0	878 (+4%)	15mo	$60,000	$68	64
1523 W 46	0.57mi	2/1.0	885 (+5%)	12mo	$45,000	$51	56
104 Parkview Dr	0.47mi	2/1.0	924 (+9%)	11mo	$120,000	$130	53
3803 Burks Ave	0.54mi	2/1.0	768 (-9%)	9mo	$78,000	$102	52
3508 Burks Ave	0.55mi	2/2.0	790 (-7%)	23mo	$67,000	$85	40
1116 W 36th St	0.64mi	2/1.0	960 (+14%)	18mo	$40,000	$42	33
4808 Francis St	0.74mi	2/1.0	768 (-9%)	22mo	$82,500	$107	32
11 Sierra Ct	0.71mi	2/1.5	758 (-10%)	19mo	$128,400	$169	32
4612 Division St	0.60mi	2/1.0	725 (-14%)	21mo	$47,000	$65	30
6 Scenic Dr	0.73mi	3/1.0 (+1)	966 (+14%)	18mo	$123,000	$127	22

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: -6.7%
• Equity multiple: 0.75×
• Total profit: $-7,066
• Equity at exit: $14,895

10-year hold

• IRR: 5.8%
• Equity multiple: 1.48×
• Total profit: $13,370
• Equity at exit: $8,638

Cash invested: $27,972 (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 72118

• Home prices YoY: -17.9%
• Rents YoY: 5.5%
• Active inventory: 107
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,003 high
• Mortgage (P&I): −$524
• Tax from tax record: −$58 /mo · $691/yr
• Insurance: −$42
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$211
• Net cashflow: $103

Break-even live

Break-even rent $873

Max offer price $99,900

Occupancy floor 85%

Sensitivity live

Price	-10% $159	-5% $131	+0% $103	+5% $75	+10% $46
Rent	-10% $24	-5% $63	+0% $103	+5% $143	+10% $182
Rate	-1.0pp $153	-0.5pp $128	base $103	+0.5pp $77	+1.0pp $51

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5 Sweet Rose Ln North Little Rock, AR	3.0	1.5	960	$1,150	$1.20	24d	1	0.04mi
11 Sweet Rose Ln North Little Rock, AR	3.0	1.0	950	$1,150	$1.21	44d	1	0.06mi
1812 W 36th St North Little Rock, AR	2.0	1.0	790	$875	$1.11	44d	1	0.23mi
1512 W 35th St North Little Rock, AR	2.0	1.0	848	$875	$1.03	15d	1	0.37mi
605 W Scenic Dr Apt L16 North Little Rock, AR	2.0	1.0	820	$825	$1.01	44d	1	0.39mi
10 Theresa Dr North Little Rock, AR	2.0	1.0	1013	$1,999	$1.97	44d	1	0.43mi
605 W Scenic Dr North Little Rock, AR	2.0	1.0	820	$875	$1.07	20d	1	0.44mi
605 W Scenic Dr North Little Rock, AR	3.0	2.0	1040	$1,050	$1.01	44d	1	0.44mi
801 W Scenic Dr North Little Rock, AR	2.0	2.5	1000	$995	$0.99	15d	1	0.46mi
1009 W Scenic Dr North Little Rock, AR	2.0	1.5	1050	$1,100	$1.05	44d	1	0.46mi
1707 Arrowhead Rd North Little Rock, AR	1.0–2.0	1.0–1.5	656	$865	$1.32	15d	15	0.65mi
4907 Augusta Cir North Little Rock, AR	1.0–2.0	1.0–1.5	747	$835	$1.12	15d	12	0.73mi
426 Sierra Madre Dr North Little Rock, AR	2.0	1.0	1000	$900	$0.90	15d	1	0.75mi
804 W 37th St North Little Rock, AR	2.0	1.0	744	$895	$1.20	44d	1	0.87mi
4926 Francis St Unit B North Little Rock, AR	2.0	1.0	900	$700	$0.78	24d	1	0.89mi
3423 Chandler St Unit B North Little Rock, AR	2.0	1.0	928	$725	$0.78	44d	1	0.90mi
3418 Gum St North Little Rock, AR	1.0	1.0	600	$695	$1.16	24d	1	1.04mi
515 W 35th St North Little Rock, AR	1.0	1.0	880	$695	$0.79	24d	1	1.05mi
2320 Franklin St North Little Rock, AR	2.0	2.0	932	$750	$0.80	24d	1	1.05mi
508 W 35th St North Little Rock, AR	2.0	1.0	876	$850	$0.97	24d	1	1.06mi
509 W 35th St North Little Rock, AR	2.0	1.0	740	$800	$1.08	44d	1	1.06mi
3017 Parkway Dr Unit 2 North Little Rock, AR	2.0	1.5	850	$750	$0.88	44d	1	1.07mi
4017 Mellene Dr North Little Rock, AR	3.0	1.0	1094	$1,150	$1.05	44d	1	1.10mi
1100 W 24th St North Little Rock, AR	3.0	1.0	1036	$1,295	$1.25	20d	1	1.10mi
5218 Nelbrook Dr North Little Rock, AR	3.0	1.0	954	$1,080	$1.13	24d	1	1.11mi
5708 Sonora Dr North Little Rock, AR	3.0	1.0	900	$1,100	$1.22	24d	1	1.12mi
4000 Emerson Dr North Little Rock, AR	3.0	2.0	1046	$1,195	$1.14	20d	1	1.15mi
1308 W 21st St North Little Rock, AR	2.0	1.0	944	$945	$1.00	44d	1	1.19mi
5705 Sorenson St Unit B North Little Rock, AR	2.0	1.5	1050	$700	$0.67	15d	1	1.19mi
4912 Gum St North Little Rock, AR	2.0	2.0	888	$875	$0.99	24d	1	1.20mi
5709 Sorenson St Unit A North Little Rock, AR	2.0	1.5	950	$725	$0.76	15d	1	1.21mi
5709 Sorenson St Unit A North Little Rock, AR	2.0	1.5	950	$725	$0.76	24d	1	1.21mi
2214 Coors Dr North Little Rock, AR	3.0	2.0	1096	$1,050	$0.96	24d	1	1.22mi
1908 Augusta St North Little Rock, AR	1.0	1.0	624	$595	$0.95	44d	1	1.22mi
5 North Little Rock, AR	1.0–2.0	1.0–2.0	1145	$2,394	$2.09	15d	7	1.24mi
2004 Franklin St Apt A North Little Rock, AR	1.0	1.0	850	$450	$0.53	44d	1	1.24mi
5712 Sorenson St North Little Rock, AR	2.0	1.5	1116	$775	$0.69	22d	1	1.24mi
2508 W 58th St North Little Rock, AR	2.0	1.0	1048	$825	$0.79	44d	1	1.25mi
218 W 33rd Pl North Little Rock, AR	2.0	1.0	792	$800	$1.01	44d	1	1.25mi
3403 Ridge Rd North Little Rock, AR	2.0	1.0	714	$895	$1.25	44d	1	1.31mi

Listing history 8 events

1. 2026-05-14
   price $99,900 459-char remark

   Show marketing remark (459 chars)

   Charming 2-bedroom, 1-bath home offering 846 sq ft of living space and a great opportunity for a starter home or investment property. Features wood flooring and a new walk-in shower, adding comfort and value. With a little TLC, this home has excellent potential to shine. Conveniently located with easy highway access, making commuting a breeze. Ideal for buyers looking to personalize a home or investors seeking a value-add opportunity. Property sold as-is.

2. 2026-05-12
   price $104,900 459-char remark

   Show marketing remark (459 chars)

   Charming 2-bedroom, 1-bath home offering 846 sq ft of living space and a great opportunity for a starter home or investment property. Features wood flooring and a new walk-in shower, adding comfort and value. With a little TLC, this home has excellent potential to shine. Conveniently located with easy highway access, making commuting a breeze. Ideal for buyers looking to personalize a home or investors seeking a value-add opportunity. Property sold as-is.

3. 2026-03-31
   price $105,000 459-char remark

   Show marketing remark (459 chars)

   Charming 2-bedroom, 1-bath home offering 846 sq ft of living space and a great opportunity for a starter home or investment property. Features wood flooring and a new walk-in shower, adding comfort and value. With a little TLC, this home has excellent potential to shine. Conveniently located with easy highway access, making commuting a breeze. Ideal for buyers looking to personalize a home or investors seeking a value-add opportunity. Property sold as-is.

4. 2026-01-12
   listed $108,000 New Listing 459-char remark

   Show marketing remark (459 chars)

   Charming 2-bedroom, 1-bath home offering 846 sq ft of living space and a great opportunity for a starter home or investment property. Features wood flooring and a new walk-in shower, adding comfort and value. With a little TLC, this home has excellent potential to shine. Conveniently located with easy highway access, making commuting a breeze. Ideal for buyers looking to personalize a home or investors seeking a value-add opportunity. Property sold as-is.

5. 2011-02-18
   soldstatus $62,000
6. 2011-02-14
   soldstatus $61,900 331-char remark

   Show marketing remark (331 chars)

   Well maintained & move in ready, this house is suitable for First Time Home Buyer or an Investor, New paint inside, Tile in Kitchen, Bath, & Laundry, All other floors are Laminate (No Carpet), Exterior Low Maintenance Siding, Gas Heating & Water Heating, Electric Cooling, Flat corner Lot, Measurements Encouraged,

7. 2010-12-27
   historical 331-char remark

   Show marketing remark (331 chars)

   Well maintained & move in ready, this house is suitable for First Time Home Buyer or an Investor, New paint inside, Tile in Kitchen, Bath, & Laundry, All other floors are Laminate (No Carpet), Exterior Low Maintenance Siding, Gas Heating & Water Heating, Electric Cooling, Flat corner Lot, Measurements Encouraged,

8. 2010-09-14
   listed $61,900 331-char remark

   Show marketing remark (331 chars)

   Well maintained & move in ready, this house is suitable for First Time Home Buyer or an Investor, New paint inside, Tile in Kitchen, Bath, & Laundry, All other floors are Laminate (No Carpet), Exterior Low Maintenance Siding, Gas Heating & Water Heating, Electric Cooling, Flat corner Lot, Measurements Encouraged,

ⓘ 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: $691 · $58/mo
• Projected year-2 tax: $691 · $58/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 7/10 Severe FEMA zone X (shaded) · 89% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥110°F today · 20 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: $12,037
• − Mortgage interest: −$5,596
• − Property taxes: −$691
• − Insurance: −$1,297
• − Repairs & maintenance: −$963
• − Management: −$963
• − Depreciation: −$2,906
• Taxable loss: −$379
• Est. tax savings @ 24.0%: +$91
• After-tax cash flow: $1,326/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

+61.4% since first listed

8 events — show timeline

• 2026-05-14 Price Changed $99,900 CARMLS
• 2026-05-12 Price Changed $104,900 CARMLS
• 2026-03-31 Price Changed $105,000 CARMLS
• 2026-01-12 Listed $108,000 CARMLS
• 2011-02-18 Sold (Public Records) $62,000 Public Records
• 2011-02-14 Sold (MLS) $61,900 CARMLS
• 2010-12-27 Listing Removed — CARMLS
• 2010-09-14 Listed $61,900 CARMLS

Property tax history

-0.6%/yr

Latest (2025): $691 · +6.0% YoY. Source: county tax records.