5405 Alpha St · North Little Rock, AR 72117

$75,000

3 bd · 2.0 ba · 1,452 sqft · SingleFamily public records · 12 Days on market

Built 1963 6,969 sqft lot Est $113k · 34% 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 +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 +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great buy! Updates include: new hotwater heater 7/2021, electrical upgrade to 220, new flooring and paint. Large eat-in-kitchen with nice cabinetry, newer gas stove. Kitchen opens up into the second living area. Spacious master bedroom. Quiet area thats close to shopping and Interstate!

Key facts

• 6,969 sq ft lot
• Built 1963
• Listed 11 days

Property features AI

Exterior

• Parking: Carport
• Utilities: Some utilities available (not on property)
• Home design: Inside city limits
• Construction: Metal/Vinyl siding; Architectural shingle roof; Piers foundation
• Exterior features: Level lot; Paved road access

Interior

• Kitchen: Electric range; Refrigerator stays
• Flooring: Wood
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central cooling
• Interior features: Wood floors; Bonus room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $426 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Cap rate 13.1% 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: 83 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $519 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 + 3.0% rent growth), your $21k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• 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 $75,000

Questions for the listing agent

1. Built in 1963 — 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. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.55% ✓
• Cap rate: 13.11%
• Cash-on-cash: 24.36%
• DSCR: 2.08
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $113,256
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
708 Mills St	0.13mi	3/2.0	1,523 (+5%)	12mo	$75,000	$49	76
5701 Alpha St	0.16mi	4/2.0 (+1)	1,360 (-6%)	6mo	$7,000	$5	72
305 Mills St	0.38mi	3/2.0	1,453 (+0%)	14mo	$75,000	$52	71
500 Kay St	0.23mi	3/2.0	1,344 (-7%)	14mo	$20,000	$15	65
714 Water St	0.27mi	3/1.0	1,596 (+10%)	11mo	$125,000	$78	58
4913 Page Mill Rd	0.44mi	3/2.0	1,260 (-13%)	3mo	$127,000	$101	55
604 Parkdale St	0.40mi	3/2.0	1,314 (-10%)	16mo	$110,000	$84	52
4511 Haywood St	0.71mi	3/2.0	1,340 (-8%)	3mo	$139,000	$104	52
4829 School St	0.63mi	3/2.0	1,580 (+9%)	8mo	$21,000	$13	49
412 Middle St	0.60mi	3/2.0	1,289 (-11%)	6mo	$173,000	$134	48
4909 School St	0.62mi	3/2.0	1,252 (-14%)	2mo	$78,000	$62	47
14 Wright Cir	0.64mi	2/2.0 (-1)	1,404 (-3%)	17mo	$162,500	$116	46

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 17.7%
• Equity multiple: 1.71×
• Total profit: $15,004
• Equity at exit: $11,183

10-year hold

• IRR: 26.1%
• Equity multiple: 3.29×
• Total profit: $48,040
• Equity at exit: $6,485

Cash invested: $21,000 (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 72117

• Home prices YoY: -30.4%
• Active inventory: 83
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,164 high
• Mortgage (P&I): −$393
• Tax from tax record: −$68 /mo · $822/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$244
• Net cashflow: $426

Break-even live

Break-even rent $624

Max offer price $75,000

Occupancy floor 58%

Sensitivity live

Price	-10% $469	-5% $448	+0% $426	+5% $405	+10% $384
Rent	-10% $334	-5% $380	+0% $426	+5% $472	+10% $518
Rate	-1.0pp $464	-0.5pp $445	base $426	+0.5pp $407	+1.0pp $387

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
717 Greenlea Dr North Little Rock, AR	3.0	1.0	912	$1,095	$1.20	44d	1	0.07mi
817 Greenlea Dr North Little Rock, AR	3.0	1.0	912	$1,195	$1.31	24d	1	0.14mi
908 Greenlea Dr North Little Rock, AR	3.0	1.0	912	$1,300	$1.43	22d	1	0.17mi
306 Boggs St North Little Rock, AR	2.0	1.0	1000	$850	$0.85	24d	1	0.44mi
515 Middle St North Little Rock, AR	2.0	1.0	894	$850	$0.95	15d	1	0.52mi
4820 Haywood St North Little Rock, AR	4.0	2.0	1223	$1,595	$1.30	15d	1	0.61mi
4701 Atkins St North Little Rock, AR	2.0	1.0	892	$925	$1.04	20d	1	0.61mi
4911 School St North Little Rock, AR	4.0	2.0	1223	$1,595	$1.30	15d	1	0.61mi
4912 School St North Little Rock, AR	3.0	1.0	1056	$950	$0.90	24d	1	0.63mi
4716 School St North Little Rock, AR	3.0	1.0	1347	$1,150	$0.85	44d	1	0.71mi
3 Neal Pl North Little Rock, AR	3.0	1.0	1144	$975	$0.85	44d	1	0.72mi
3 Neal Pl North Little Rock, AR	3.0	1.0	1144	$975	$0.85	24d	1	0.72mi
4007 Rogers St North Little Rock, AR	4.0	2.0	1157	$1,595	$1.38	44d	1	0.78mi
2107 Muldrow Dr North Little Rock, AR	3.0	1.0	900	$1,015	$1.13	44d	1	0.96mi
6612 Whippoorwill Ln North Little Rock, AR	3.0	1.5	952	$1,075	$1.13	44d	1	0.97mi
6617 Whippoorwill Ln North Little Rock, AR	3.0	1.5	952	$995	$1.05	24d	1	0.98mi
604 Ellen Dr North Little Rock, AR	4.0	2.0	1114	$1,550	$1.39	15d	1	1.33mi
814 N G St North Little Rock, AR	3.0	2.0	1280	$1,100	$0.86	24d	1	1.47mi

Listing history 10 events

1. 2026-06-21
   days on market $75,000 Active 12 DOM
2. 2026-06-18
   days on market $75,000 Active 9 DOM
3. 2026-06-17
   days on market $75,000 Active 8 DOM
4. 2026-06-16
   days on market $75,000 Active 7 DOM
5. 2026-06-16
   status $75,000 Active 6 DOM
6. 2026-06-15
   days on market $75,000 New Listing 6 DOM
7. 2026-06-14
   days on market $75,000 New Listing 4 DOM
8. 2026-06-13
   days on market $75,000 New Listing 3 DOM
9. 2026-06-10
   remarks 442-char remark
10. 2026-06-10
    listed $75,000 New Listing 1 DOM

ⓘ 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: $822 · $68/mo
• Projected year-2 tax: $822 · $68/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 11% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,965
• − Mortgage interest: −$4,201
• − Property taxes: −$822
• − Insurance: −$375
• − Repairs & maintenance: −$1,117
• − Management: −$1,117
• − Depreciation: −$2,182
• Taxable income: $4,151
• Est. tax owed @ 24.0%: −$996
• After-tax cash flow: $4,120/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
• City population: 55,470
• Population (ZIP): 14,339

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: Majority Black (63%)
• Race & ethnicity: Black 63% White 24% Two or more races 7% Hispanic / Latino 5%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Serbian 1% Slovak 1% Lithuanian 0%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 4%

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: ▼ -53.78%
• Current HPI: 123.3727
• Rent YoY: —
• Metro: —
• 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

+74.4% since first listed

8 events — show timeline

• 2026-06-09 Listed $75,000 CARMLS
• 2022-02-17 Sold (Public Records) $103,500 Public Records
• 2022-02-15 Sold (MLS) $103,500 CARMLS
• 2022-01-19 Pending — CARMLS
• 2021-12-18 Contingent — CARMLS
• 2021-12-11 Price Changed $94,900 CARMLS
• 2021-12-03 Listed $99,900 CARMLS
• 2007-09-10 Sold (Public Records) $43,000 Public Records

Property tax history

+5.1%/yr

Latest (2025): $822 · -28.3% YoY. Source: county tax records.