1815 Rice St · Little Rock, AR 72202

$69,000

3 bd · 1.0 ba · 1,692 sqft · SingleFamily public records · 78 Days on market

Built 1930 7,405 sqft lot $41/sqft · 42% below area Est $120k · 42% under ↓ 8% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This wonderful property in the Central High neighborhood is perfect for investment minded buyers. Investor Special – Value Add Opportunity Great potential for a fix-and-flip or rental property. Located in an established neighborhood with nearby renovated homes. Property sold AS-IS. Cash or conventional buyers preferred. Seller will review all serious offers. Estimated After Repair Value (ARV) comps available upon request. Proof of funds or pre-approval before scheduling any showings and a hold harmless clause to be signed prior to showings. SEE AGENT REMARKS.

Key facts

• 7,405 sq ft lot
• Built 1930
• Listed 78 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $69k.

Deal economics

• At list price, monthly cash flow is $618 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $69k).
• Recommended offer: $65k (6.0% below list) — sets the bar for market timing.
• Cap rate 17.0% 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 (+3.2%/yr); 88 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; 1,006 units permitted in Pulaski County in 2024 (0 in 5+ unit buildings).
• This rent runs 32% of the median local income ($51k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $477 of loan paydown is wiped out by about $2k 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 + 3.2% rent growth), your $19k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($65k) is reasonable based on typical stale-listing flexibility.

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 $64,859 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% 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: 1.94% ✓
• Cap rate: 17.04%
• Cash-on-cash: 38.37%
• DSCR: 2.71
• GRM: 4.3

CMA / ARV

• ARV (median comp): $119,836
• List price: $69,000
• Delta: -42.42%
• 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
1720 S Park St	0.12mi	3/1.5	1,600 (-5%)	12mo	$255,000	$159	74
1515 W 19th St	0.57mi	3/2.0	1,675 (-1%)	2mo	$44,000	$26	66
2218 S Schiller St	0.43mi	3/1.5	1,685 (-0%)	17mo	$87,000	$52	63
2806 W Daisy L Gatson Bates Dr	0.44mi	4/2.0 (+1)	1,715 (+1%)	11mo	$231,500	$135	59
2411 S Schiller	0.56mi	3/2.0	1,547 (-9%)	2mo	$240,000	$155	54
2026 Howard	0.26mi	4/2.0 (+1)	1,840 (+9%)	13mo	$141,000	$77	53
1609 W Charles Bussey Ave	0.55mi	3/2.0	1,562 (-8%)	6mo	$30,000	$19	53
1612 W 22nd St	0.62mi	3/2.0	1,680 (-1%)	18mo	$56,000	$33	51
3421 W 19th St	0.71mi	2/1.0 (-1)	1,711 (+1%)	20mo	$7,000	$4	43
1019 Booker St	0.66mi	3/2.0	1,485 (-12%)	3mo	$120,000	$81	42
2417 Allis St	0.61mi	4/2.0 (+1)	1,876 (+11%)	3mo	$145,000	$77	42
1721 W 22nd St	0.54mi	3/1.5	1,484 (-12%)	15mo	$46,000	$31	40

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 · 3.25% rent growth · sell at horizon

5-year hold

• IRR: 34.7%
• Equity multiple: 2.48×
• Total profit: $28,504
• Equity at exit: $10,288

10-year hold

• IRR: 41.7%
• Equity multiple: 4.98×
• Total profit: $76,875
• Equity at exit: $5,966

Cash invested: $19,320 (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 72202

• Home prices YoY: -25.6%
• Rents YoY: 3.2%
• Active inventory: 88
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,340 high
• Mortgage (P&I): −$362
• Tax from tax record: −$50 /mo · $598/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$281
• Net cashflow: $618

Break-even live

Break-even rent $557

Max offer price $69,000

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2113 W 19th St Little Rock, AR	2.0	1.0	1703	$1,300	$0.76	43d	1	0.22mi
2200 Dennison St Little Rock, AR	3.0	1.5	1080	$1,000	$0.93	43d	1	0.30mi
2803 W Daisy L Gatson Bates Dr Little Rock, AR	4.0	2.0	1138	$1,495	$1.31	43d	1	0.42mi
1822 Booker St Little Rock, AR	3.0	2.0	1076	$1,195	$1.11	23d	1	0.42mi
2900 W 15th St Little Rock, AR	3.0	1.0	1337	$950	$0.71	43d	1	0.46mi
1515 Wolfe St Little Rock, AR	3.0	2.0	1386	$1,100	$0.79	23d	1	0.47mi
1820 Johnson St Little Rock, AR	4.0	2.0	1223	$1,550	$1.27	18d	1	0.49mi
1123 Thayer St Little Rock, AR	4.0	2.0	1223	$1,595	$1.30	23d	1	0.49mi
1903 Marshall St Little Rock, AR	3.0	2.0	1152	$1,200	$1.04	23d	1	0.51mi
1626 S Brown St Little Rock, AR	3.0	2.0	1386	$995	$0.72	43d	1	0.63mi
3401 W 17th St Little Rock, AR	3.0	2.0	1370	$1,400	$1.02	43d	1	0.69mi
2220 S Martin St Little Rock, AR	2.0	1.0	1143	$900	$0.79	23d	1	0.71mi
3214 W 13th St Little Rock, AR	3.0	2.0	1264	$1,095	$0.87	43d	1	0.72mi
3109 W 11th St Little Rock, AR	3.0	2.0	1055	$1,295	$1.23	43d	1	0.72mi
2100 Valmar St Little Rock, AR	2.0	1.0	1219	$1,200	$0.98	23d	1	0.74mi
2105 S Valentine St Little Rock, AR	4.0	2.0	1223	$1,595	$1.30	14d	1	0.78mi
1209 W 22nd St Little Rock, AR	4.0	2.0	1104	$1,850	$1.68	43d	1	0.79mi
1205 Valmar St Little Rock, AR	2.0	1.0	1100	$1,199	$1.09	43d	1	0.86mi
2305 S Oak St Little Rock, AR	4.0	2.0	1223	$1,525	$1.25	43d	1	0.94mi
3423 Maryland Ave Little Rock, AR	4.0	2.0	1223	$1,595	$1.30	43d	1	0.95mi
2421 S Oak St Little Rock, AR	3.0	1.0	1092	$950	$0.87	21d	1	0.96mi
3715 W 13th St Little Rock, AR	2.0	1.0	1176	$900	$0.77	43d	1	0.97mi
1906 S State St Little Rock, AR	2.0	2.0	1160	$1,895	$1.63	43d	1	1.01mi
1908 S State St Little Rock, AR	2.0	2.0	1160	$1,650	$1.42	43d	1	1.01mi
324 S Schiller St Little Rock, AR	3.0	2.0	1352	$1,995	$1.48	23d	1	1.06mi
212 Rice St Little Rock, AR	3.0	2.0	1442	$1,795	$1.24	18d	1	1.10mi
4022 W 25th St Little Rock, AR	3.0	1.0	1674	$1,025	$0.61	43d	1	1.13mi
2610 S Izard St Little Rock, AR	3.0	2.0	1136	$1,150	$1.01	43d	1	1.13mi
2616 S Izard St Little Rock, AR	4.0	2.0	1223	$1,595	$1.30	43d	1	1.13mi
4104 W 15th St Little Rock, AR	4.0	2.0	1223	$1,595	$1.30	43d	1	1.16mi
926 W 29th St Little Rock, AR	3.0	1.0	1229	$1,050	$0.85	23d	1	1.18mi
106 Fountain Ave Little Rock, AR	3.0	2.0	1600	$1,600	$1.00	43d	1	1.21mi
3222 Bishop St Unit B Little Rock, AR	3.0	2.0	1200	$1,300	$1.08	23d	1	1.21mi
3615 W Capitol Ave Little Rock, AR	4.0	2.0	1410	$1,550	$1.10	23d	1	1.27mi
2701 Abigail St Little Rock, AR	3.0	1.0	1098	$1,195	$1.09	23d	1	1.30mi
4314 W 14th St Little Rock, AR	4.0	2.0	1223	$1,495	$1.22	23d	1	1.32mi
2604 Broadway St Little Rock, AR	4.0	2.0	1223	$1,595	$1.30	23d	1	1.36mi
1500 Center St Unit 5 Little Rock, AR	2.0	1.5	1100	$1,295	$1.18	43d	1	1.38mi
313 W 23rd St Little Rock, AR	3.0	2.0	1134	$925	$0.82	23d	1	1.39mi
2712 Broadway St Little Rock, AR	3.0	3.0	2021	$1,695	$0.84	43d	1	1.39mi

Listing history 17 events

1. 2026-06-18
   days on market $69,000 Active 78 DOM
2. 2026-06-17
   days on market $69,000 Active 77 DOM
3. 2026-06-16
   days on market $69,000 Active 76 DOM
4. 2026-06-15
   days on market $69,000 Active 75 DOM
5. 2026-06-14
   days on market $69,000 Active 73 DOM
6. 2026-06-13
   days on market $69,000 Active 72 DOM
7. 2026-06-10
   days on market $69,000 Active 70 DOM
8. 2026-06-09
   days on market $69,000 Active 69 DOM
9. 2026-06-08
   days on market $69,000 Active 68 DOM
10. 2026-06-05
    days on market $69,000 Active 64 DOM
11. 2026-06-03
    days on market $69,000 Active 63 DOM
12. 2026-06-02
    days on market $69,000 Active 62 DOM
13. 2026-06-01
    days on market $69,000 Active 61 DOM
14. 2026-05-31
    days on market $69,000 Active 60 DOM
15. 2026-05-31
    days on market $69,000 Active 59 DOM
16. 2026-05-14
    price $69,000 571-char remark

    Show marketing remark (571 chars)

    This wonderful property in the Central High neighborhood is perfect for investment minded buyers. Investor Special – Value Add Opportunity Great potential for a fix-and-flip or rental property. Located in an established neighborhood with nearby renovated homes. Property sold AS-IS. Cash or conventional buyers preferred. Seller will review all serious offers. Estimated After Repair Value (ARV) comps available upon request. Proof of funds or pre-approval before scheduling any showings and a hold harmless clause to be signed prior to showings. SEE AGENT REMARKS.

17. 2026-04-01
    listed $75,000 New Listing 571-char remark

    Show marketing remark (571 chars)

    This wonderful property in the Central High neighborhood is perfect for investment minded buyers. Investor Special – Value Add Opportunity Great potential for a fix-and-flip or rental property. Located in an established neighborhood with nearby renovated homes. Property sold AS-IS. Cash or conventional buyers preferred. Seller will review all serious offers. Estimated After Repair Value (ARV) comps available upon request. Proof of funds or pre-approval before scheduling any showings and a hold harmless clause to be signed prior to showings. SEE AGENT REMARKS.

ⓘ 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: $598 · $50/mo
• Projected year-2 tax: $598 · $50/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 3/10 Moderate
• 🌡 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: $16,074
• − Mortgage interest: −$3,865
• − Property taxes: −$598
• − Insurance: −$345
• − Repairs & maintenance: −$1,286
• − Management: −$1,286
• − Depreciation: −$2,007
• Taxable income: $6,687
• Est. tax owed @ 24.0%: −$1,605
• After-tax cash flow: $5,809/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): 9,704
• Household income: $50,899
• Rent vs Own: 75.7% rent · 24.3% own
• Severe rent burden: 789.0

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 0.58)
• Race & ethnicity: White 46% Black 45% Hispanic / Latino 3% Asian 3% Two or more races 3%
• Common ancestry: Italian 3% Lithuanian 3% Slovak 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 92% English-only · Spanish 3% Other Asian/Pacific 2% Other Indo-European 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: ▼ -68.75%
• Current HPI: 199.3103
• Rent YoY: ▲ 3.25%
• 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

-8.0% since first listed

2 events — show timeline

• 2026-05-14 Price Changed $69,000 CARMLS
• 2026-04-01 Listed $75,000 CARMLS

Property tax history

+0.2%/yr

Latest (2025): $598 · +7.7% YoY. Source: county tax records.