North Little Rock Sells $1.5M Property for $200K

City council approves deal to offload property purchased just 3 years ago.

Published on Feb. 10, 2026

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The North Little Rock city council has approved a resolution authorizing an agreement to sell a property in the Argenta neighborhood for $200,000. The city had purchased the same property less than three years ago for $1.5 million.

Why it matters

This deal highlights the city's willingness to quickly offload properties at a significant loss, raising questions about the decision-making process and financial management of public assets.

The details

The North Little Rock city council voted to approve a $200,000 purchase option agreement for a property the city had acquired in the Argenta neighborhood just 36 months prior for $1.5 million. The city has not provided a clear explanation for the decision to sell the property at such a large discount.

  • The North Little Rock city council approved the $200,000 sale agreement on February 10, 2026.
  • The city had originally purchased the property in Argenta for $1.5 million in May 2023.

The players

North Little Rock City Council

The governing body of the city of North Little Rock, Arkansas that approved the sale of the $1.5 million property for $200,000.

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What’s next

The sale agreement must now be finalized, with the new owner taking possession of the property.

The takeaway

This deal raises concerns about the city's financial management and decision-making process around public assets, as the $1.3 million loss on the property sale suggests a lack of due diligence or strategic planning.