509 Highland Dr · West Memphis, AR 72301

$149,900

2 bd · 1.0 ba · 1,077 sqft · SingleFamily public records · 52 Days on market

Built 1955 9,148 sqft lot $139/sqft · 11% above area Est $135k · 11% over

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Why this score? — see what drove the D 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 +20.7/30.0
• DSCR +6.6/10.0
• 1% rule +4.4/10.0
• Livability +2.8/5.0
• ARV discount +2.5/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Key facts

• 9,148 sq ft lot
• Built 1955
• Listed 52 days

Property features AI

Exterior

• Parking: Attached carport; Has carport
• Utilities: Public water; Public sewer
• Home design: Residential property; One level
• Construction: Brick construction; Slab foundation; Composition roof; Built on a 0.21-acre lot (approx. 60 x 150)
• Exterior features: Wood fencing; Patio/porch: none indicated; Wooded lot

Interior

• Kitchen: Dishwasher; Microwave; Electric range/oven
• Flooring: Hardwood; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air; Ceiling fan(s)
• Interior features: Ceiling fans; Storm windows; Blinds; Storage
• Laundry & utility: Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $202 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $141k (5.7% below list).
• Recommended offer: $141k (5.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 55/100 on livability (#413 in AR) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: crime F, amenities F, commute F.
• West Memphis School District (suburban): math 16% / reading 15% proficiency, ranked #224 of 238 in AR (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 96% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Richland Elementary School (math 43% / reading 22%, grade F, #277 of 454 statewide, top 61%, 528 students, 100% FRL); West Junior High School (math 19% / reading 25%, grade F, #175 of 201 statewide, top 88%, 507 students, 100% FRL); The Academies of West Memphis Charter School (math 7% / reading 22%, grade F, #265 of 292 statewide, top 91%, 952 students, 100% FRL, charter) — zoned schools at 100% FRL track the district average.
• Market conditions: 136 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 69 units permitted in Crittenden County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Crittenden County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $41k; list at $150k implies a 266% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $141,297 (5.7% below list)

Questions for the listing agent

1. It's been on market 52 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 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.94% ✗
• Cap rate: 7.91%
• Cash-on-cash: 5.77%
• DSCR: 1.26
• GRM: 8.8

CMA / ARV

• ARV (median comp): $135,032
• List price: $149,900
• Delta: 11.01%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
516 Highland Dr	0.05mi	3/1.0 (+1)	1,103 (+2%)	6mo	$155,000	$141	84
603 Baylor Dr	0.25mi	3/1.0 (+1)	1,050 (-2%)	1mo	$133,000	$127	79
1020 Lehr St	0.11mi	2/1.0	1,026 (-5%)	11mo	$138,000	$135	78
508 Arlington Dr	0.04mi	3/1.0 (+1)	1,014 (-6%)	8mo	$135,000	$133	77
1113 Spears St	0.30mi	3/1.5 (+1)	1,076 (-0%)	7mo	$136,250	$127	73
409 Balfour Rd	0.37mi	3/1.0 (+1)	1,040 (-3%)	3mo	$155,000	$149	70
208 S Center Dr	0.49mi	2/1.0	1,137 (+6%)	0mo	$50,000	$44	68
1409 N Avalon St	0.29mi	3/1.5 (+1)	1,172 (+9%)	2mo	$164,900	$141	63
227 S Worthington Dr	0.39mi	3/2.0 (+1)	1,013 (-6%)	3mo	$169,900	$168	60
487 Belvedere Dr	0.29mi	3/1.0 (+1)	949 (-12%)	6mo	$125,000	$132	57
819 Preston Rd	0.56mi	3/1.0 (+1)	1,008 (-6%)	4mo	$155,000	$154	55
1404 Chester Ln	0.34mi	3/2.0 (+1)	1,164 (+8%)	9mo	$173,500	$149	54

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: -7.4%
• Equity multiple: 0.73×
• Total profit: $-11,497
• Equity at exit: $22,351

10-year hold

• IRR: 2.1%
• Equity multiple: 1.15×
• Total profit: $6,314
• Equity at exit: $12,961

Cash invested: $41,972 (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 72301

• Active inventory: 136
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,413 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$66 /mo · $792/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $202

Break-even live

Break-even rent $1,158

Max offer price $149,900

Occupancy floor 81%

Sensitivity live

Price	-10% $287	-5% $244	+0% $202	+5% $159	+10% $117
Rent	-10% $90	-5% $146	+0% $202	+5% $258	+10% $313
Rate	-1.0pp $277	-0.5pp $240	base $202	+0.5pp $163	+1.0pp $123

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
911 N Avalon St Unit Future applicants West Memphis, AR	2.0	2.0	1057	$1,500	$1.42	3d	1	0.21mi
905 Deaunta Farrow ST West Memphis, AR	1.0	1.0	850	$650	$0.76	45d	1	1.47mi

Listing history 12 events

1. 2026-06-13
   statusdays on market $149,900 Pending 52 DOM
2. 2026-06-10
   days on market $149,900 Active 51 DOM
3. 2026-06-09
   days on market $149,900 Active 50 DOM
4. 2026-06-08
   days on market $149,900 Active 49 DOM
5. 2026-06-07
   days on market $149,900 Active 48 DOM
6. 2026-06-03
   days on market $149,900 Active 44 DOM
7. 2026-06-02
   days on market $149,900 Active 43 DOM
8. 2026-06-01
   days on market $149,900 Active 42 DOM
9. 2026-05-31
   days on market $149,900 Active 41 DOM
10. 2026-04-20
    listed $159,900 Active 350-char remark
11. 2022-03-17
    soldstatus $41,000
12. 2003-08-18
    soldstatus $72,000

ⓘ 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: $792 · $66/mo
• Projected year-2 tax: $959 · $80/mo
• Expected delta: +$167/yr (+$14/mo · 21.1%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 16% 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: $16,956
• − Mortgage interest: −$8,397
• − Property taxes: −$792
• − Insurance: −$750
• − Repairs & maintenance: −$1,356
• − Management: −$1,356
• − Depreciation: −$4,361
• Taxable loss: −$56
• Est. tax savings @ 24.0%: +$13
• After-tax cash flow: $2,434/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: West Memphis School District
• NCES district ID: 0508040
• Math proficiency: 16% ▼ -14.00%
• Reading proficiency: 15% ▼ -14.00%
• Median HH income: $29,382
• Composite: 12.22/100
• National rank: #9647
• State rank: #224 of 238 in AR

Livability — West Memphis

• Score: 55/100
• State rank: #413
• US rank: #23638

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment F Housing A Health & safety C+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Memphis, AR
• City population: 24,182
• Population (ZIP): 24,182

Population outlook (Crittenden County) Hauer SSP2

• Today (2025): 45,254 people
• By 2030: 42,953 · -5.1%
• By 2040: 38,235 · -15.5%
• By 2050: 33,670 · -25.6%
• By 2075: 24,315 · -46.3%
• By 2100: 17,173 · -62.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (64%)
• Race & ethnicity: Black 64% White 29% Two or more races 6% Hispanic / Latino 2%
• Common ancestry: Serbian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Crittenden

• 2024 margin: Toss-up / Even · D 50.1% · R 47.9% · Other 2.0%
• 2008→2024 swing: -12.4pp toward R · 2008: 14.7pp · 2024: 2.3pp
• All cycles: 2024: D+2.3 2020: D+7.2 2016: D+9.0 2012: D+18.7 2008: D+14.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -143.63%
• Current HPI: 182.7665
• 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

+108.2% since first listed

5 events — show timeline

• 2026-06-11 Pending — EARA
• 2026-05-27 Price Changed $149,900 EARA
• 2026-04-20 Listed $159,900 EARA
• 2022-03-17 Sold (Public Records) $41,000 Public Records
• 2003-08-18 Sold (Public Records) $72,000 Public Records

Property tax history

+10.2%/yr

Latest (2025): $792 · +258.8% YoY. Source: county tax records.