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5101 Lee Ave
Little Rock, AR

5101 Lee Ave

$229,000
3 bd • 2 ba • 1,682 sf

This analysis was generated by artificial intelligence on 2/11/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

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AI Property Analysis

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List Price

$229,000

Price/Sq.Ft

$136

Year Built

1920

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

• Attractive Price per Square Foot: At $136.15 per square foot, the property is competitively priced compared to the average for single-family homes in Little Rock. The city-wide average is closer to $150-$175 per square foot, offering potential value. • Desirable Hillcrest Location: The Hillcrest neighborhood is known for its historic charm, local shops, restaurants, and cultural attractions, making it a desirable place to live. Homes in this area tend to hold their value well. • Functional Layout: With 3 bedrooms and 2 bathrooms within 1,682 square feet, the home offers a reasonable amount of living space for a small to medium-sized family. The separate dining room and eat-in kitchen provide distinct areas for dining and meal preparation. • Outdoor Living Spaces: The spacious porch, covered back porch, and courtyard offer attractive outdoor living spaces for relaxation and entertainment. These features enhance the property's appeal, particularly during the warmer months. • Additional Storage/Flex Space: The storage building with an adjacent room equipped with a window unit provides valuable extra space that can be used for a home office, workout area, or hobby room.

The Bad

• Extended Market Time: Being on the market for 242 days suggests potential issues with pricing, condition, or market appeal. This significantly exceeds the average days on market for Little Rock, potentially indicating underlying problems. • Average School Ratings: The assigned schools (Pulaski Heights Elementary and Middle) have a rating of 5/10, which may be a drawback for buyers with children seeking higher-ranked schools. Central High School is rated 4/10. • Heat Risk: The property has a "Major" heat risk (6/10), indicating potential for high temperatures and increased cooling costs during the summer months. Little Rock sees an average of 7 hot days per year where the temperature exceeds 110°F. • Limited Public Transportation: Public transportation options in Little Rock are limited, which may be a disadvantage for those who rely on public transit.

The Ugly

• Age and Potential for Deferred Maintenance: Built in 1920, the property is over 100 years old, increasing the likelihood of needing significant repairs or renovations. Older homes often require more frequent and costly maintenance. • Price Reduction History: Multiple price reductions over the past year (from $294,900 to $229,000) suggest that the initial pricing was too high and that there may be underlying issues affecting the property's value. A total price reduction of $65,900 from the initial listing price indicates significant market resistance. • Limited Parking: The description mentions "convenient parking is available on pads off the back alley," which suggests that parking may be limited or not easily accessible. Alley parking can be less desirable than street or driveway parking. • Historic Sales Data Concerns: The 2013 sale at $18,500 and the fluctuation in price from 2010 to 2011, including a sale at $178,000 and subsequent price changes, raise questions about the property's historical value and potential issues that may have affected its worth.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

• Buyers seeking a home with character and historical charm: The 1920s Craftsman architecture offers unique design elements appealing to those appreciating vintage homes. • Individuals or couples desiring a move-in ready home in a desirable location: The property's features such as hardwood floors, updated bathrooms, and a fenced backyard provide immediate comfort and convenience. • Buyers interested in a property with outdoor living space: The spacious porch, covered back porch, and courtyard offer ample opportunities for relaxation and entertainment. • Those who value proximity to local amenities and community: The Hillcrest location places residents close to shops, restaurants, and cultural attractions. • Individuals seeking a property with potential for a home office or hobby space: The storage building with an adjacent room offers a dedicated area for work or creative pursuits.

Not For

• Buyers seeking modern, updated homes: The property's vintage features and 1920s construction may not appeal to those looking for contemporary design and amenities. • Individuals or families requiring a large, spacious home: At 1,682 square feet, the property may feel cramped for those accustomed to larger living spaces. • Buyers with limited mobility or accessibility needs: The property's multi-level layout and lack of accessibility features may pose challenges for individuals with mobility issues. • Those seeking a low-maintenance property: The age of the home suggests that there may be ongoing maintenance and repair needs. • Buyers prioritizing top-rated schools: The assigned schools have average ratings, which may not satisfy those seeking highly-ranked educational institutions.
Demographics
Area Median Income

$57,185

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Risk Assessment

Climate Risks

heatMAJOR

7 extreme heat days per year

98th percentile: 110°F

windMODERATE

Insurance: Recommended

airMINOR

1 bad air quality days per year

floodMINIMAL

FEMA Zone: X_UNSHADED

Insurance: Optional

fireMINIMAL

Insurance: Optional

Risk Analysis

• Foundation Issues: Homes built in 1920 may have existing foundation problems due to the age of the structure and soil conditions in Little Rock. A professional foundation inspection is crucial. • Plumbing and Electrical Systems: Older homes often have outdated plumbing and electrical systems that may require costly repairs or upgrades to meet modern safety standards. • Lead Paint and Asbestos: Homes built before 1978 may contain lead paint, and those built before the 1980s may contain asbestos. Testing and remediation may be necessary. • Roof Condition: The roof's age and condition should be thoroughly inspected, as repairs or replacement can be a significant expense. • Pest Infestation: Older homes are more susceptible to pest infestations, such as termites, which can cause structural damage. A professional pest inspection is recommended.
Insurance
Annual Cost

$824

$69 per month

Financials

Monthly Costs
Market Rent (3 bed)

$1,330

Get a detailed rental estimate on Zillow®

Price History

Property Taxes

$1,243
2023 Tax Assessment
3.9%from previous year
Assessed Value$23,822
Tax Rate5.22%

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$198,183

-13.5% below list price

Median Price

$230,000

Based on 6 recent sales

Price per Sq.Ft

$131

Comparable Properties

5124 Woodlawn Drive, Little Rock, AR 72205
Price: $155,000
Sq.Ft: 1,700
Beds/Baths: 2/2
$/Sq.Ft:
$9133.0%
Sale Date: 12/30/2024
6202 H Street, Little Rock, AR 72205
Price: $230,000
Sq.Ft: 1,450
Beds/Baths: 3/2
$/Sq.Ft:
$15916.5%
Sale Date: 1/10/2025
710 S Valentine, Little Rock, AR 72205
Price: $339,500
Sq.Ft: 1,597
Beds/Baths: 3/2
$/Sq.Ft:
$21356.1%
Sale Date: 11/14/2024
3600 W 10Th St, Little Rock, AR 72204
Price: $144,000
Sq.Ft: 1,426
Beds/Baths: 3/2
$/Sq.Ft:
$10125.8%
Sale Date: 11/18/2024
908 N Taylor Street, Little Rock, AR 72205
Price: $319,000
Sq.Ft: 1,445
Beds/Baths: 3/2
$/Sq.Ft:
$22162.1%
Sale Date: 11/11/2024
708 N Polk, Little Rock, AR 72205
Price: $1,595
Sq.Ft: 1,762
Beds/Baths: 3/2
$/Sq.Ft:
$199.3%
Sale Date: 9/24/2024

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