515 Poe St · North Little Rock, AR 72117

$115,000

3 bd · 3.0 ba · 2,072 sqft · Other public records · 29 Days on market

Built 1940 8,276 sqft lot $56/sqft · 10% below area Est $131k · 12% 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 +13.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• 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

Investors! 4 units across 3 buildings plus 1 vacant lot. Properties were remodeled 3 years ago. 2 single family homes, 1 duplex. Vacant lot to build another home or duplex on. 1 home rents for $900, 1 for $815, duplex units rent for $600. Owner pays water for duplex and 1 home. NO SELLER FINANCING. AGENTS - See remarks

Key facts

• Room to build
• Remodeled
• 8,276 sq ft lot

Tags

• REMODELED
• ROOM TO BUILD

Property features AI

Finance

• Financial info: Accepts conventional loans or cash

Exterior

• Parking: Parking pads
• Utilities: Public sewer; Public water; Municipal electric service (Entergy); Natural gas
• Home design: Brick exterior
• Construction: Composition roof; Crawl space foundation
• Exterior features: Level lot; Paved road access; Inside city limits

Interior

• Kitchen: Free-standing stove; Dishwasher; Refrigerator included
• Flooring: Luxury vinyl flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central gas heat; Central electric cooling
• Interior features: Washer connection; Electric dryer connection; Gas water heater; Sheetrock walls/ceilings
• Laundry & utility: Washer connection; Electric dryer connection

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath other listed at $115k.

Deal economics

• At list price, monthly cash flow is $534 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $113k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.9% 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: 78 active listings in the ZIP; 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 $795 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 + 3.0% rent growth), your $32k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 4 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

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $113,275 (1.5% below list)

Questions for the listing agent

1. Built in 1940 — 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: 1.39% ✓
• Cap rate: 11.87%
• Cash-on-cash: 19.91%
• DSCR: 1.89
• GRM: 6.0

CMA / ARV

• ARV (median comp): $130,940
• List price: $115,000
• Delta: 125.29%
• Verdict: OVERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.0%
• Equity multiple: 1.48×
• Total profit: $15,370
• Equity at exit: $17,147

10-year hold

• IRR: 21.0%
• Equity multiple: 2.77×
• Total profit: $57,132
• Equity at exit: $9,943

Cash invested: $32,200 (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: 78
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,603 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$81 /mo · $973/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$337
• Net cashflow: $534

Break-even live

Break-even rent $927

Max offer price $115,000

Occupancy floor 62%

Sensitivity live

Price	-10% $599	-5% $567	+0% $534	+5% $502	+10% $469
Rent	-10% $408	-5% $471	+0% $534	+5% $597	+10% $661
Rate	-1.0pp $592	-0.5pp $563	base $534	+0.5pp $504	+1.0pp $474

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-18
   days on market $115,000 Active 29 DOM
2. 2026-06-17
   days on market $115,000 Active 28 DOM
3. 2026-06-16
   days on market $115,000 Active 27 DOM
4. 2026-06-15
   days on market $115,000 Active 26 DOM
5. 2026-06-14
   days on market $115,000 Active 24 DOM
6. 2026-06-13
   days on market $115,000 Active 23 DOM
7. 2026-06-10
   days on market $115,000 Active 21 DOM
8. 2026-06-09
   days on market $115,000 Active 20 DOM
9. 2026-06-08
   days on market $115,000 Active 19 DOM
10. 2026-06-07
    days on market $115,000 Active 18 DOM
11. 2026-06-05
    days on market $115,000 Active 15 DOM
12. 2026-06-03
    days on market $115,000 Active 14 DOM
13. 2026-06-02
    days on market $115,000 Active 13 DOM
14. 2026-06-01
    days on market $115,000 Active 12 DOM
15. 2026-05-31
    days on market $115,000 Active 11 DOM
16. 2026-05-31
    days on market $115,000 Active 10 DOM
17. 2026-04-06
    listed $295,000 New Listing 320-char remark

    Show marketing remark (320 chars)

    Investors! 4 units across 3 buildings plus 1 vacant lot. Properties were remodeled 3 years ago. 2 single family homes, 1 duplex. Vacant lot to build another home or duplex on. 1 home rents for $900, 1 for $815, duplex units rent for $600. Owner pays water for duplex and 1 home. NO SELLER FINANCING. AGENTS - See remarks

18. 2024-08-12
    soldstatus $110,000
19. 2024-08-01
    soldstatus $285,000 Sold 239-char remark

    Show marketing remark (239 chars)

    Investors! 6 units between 4 buildings. 2 duplexes and 2 single family homes. 4 have been remodeled. Poe duplex has new roof, subfloor and windows. 3 units have tenants in place, 1 is on the rental market. Agents, see confidential remarks!

20. 2024-05-09
    status Under Contract 239-char remark

    Show marketing remark (239 chars)

    Investors! 6 units between 4 buildings. 2 duplexes and 2 single family homes. 4 have been remodeled. Poe duplex has new roof, subfloor and windows. 3 units have tenants in place, 1 is on the rental market. Agents, see confidential remarks!

21. 2024-03-28
    listed $285,000 New Listing 239-char remark

    Show marketing remark (239 chars)

    Investors! 6 units between 4 buildings. 2 duplexes and 2 single family homes. 4 have been remodeled. Poe duplex has new roof, subfloor and windows. 3 units have tenants in place, 1 is on the rental market. Agents, see confidential remarks!

22. 2022-01-06
    soldstatus $102,000
23. 2021-12-09
    soldstatus $102,000 Sold
24. 2021-09-10
    status Under Contract
25. 2021-08-23
    historical Take Backups
26. 2021-08-14
    listed $105,000 New Listing

ⓘ 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: $973 · $81/mo
• Projected year-2 tax: $973 · $81/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 6/10 Major FEMA zone X (unshaded) · 57% 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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,234
• − Mortgage interest: −$6,442
• − Property taxes: −$973
• − Insurance: −$575
• − Repairs & maintenance: −$1,539
• − Management: −$1,539
• − Depreciation: −$3,345
• Taxable income: $4,821
• Est. tax owed @ 24.0%: −$1,157
• After-tax cash flow: $5,253/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

+9.5% since first listed

11 events — show timeline

• 2026-05-20 Listed $115,000 CARMLS
• 2026-04-06 Listed $295,000 CARMLS
• 2024-08-12 Sold (Public Records) $110,000 Public Records
• 2024-08-01 Sold (MLS) $285,000 CARMLS
• 2024-05-09 Pending — CARMLS
• 2024-03-28 Listed $285,000 CARMLS
• 2022-01-06 Sold (Public Records) $102,000 Public Records
• 2021-12-09 Sold (MLS) $102,000 CARMLS
• 2021-09-10 Pending — CARMLS
• 2021-08-23 Contingent — CARMLS
• 2021-08-14 Listed $105,000 CARMLS

Property tax history

+7.7%/yr

Latest (2025): $973 · -55.9% YoY. Source: county tax records.