204 N Wilson

Harrisburg, AR 72432

$35,000B

2 bd · 1.0 ba · 1,106 sqft · Built 1947 · SingleFamily · Active · 51 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $958/mo
• Mortgage (P&I): −$184
• Tax + insurance: −$42
• HOA: −$0
• Vac / Maint / Mgmt: −$201
• Net cashflow: $531/mo
• Annual: $6,373/yr
• Cap rate: 24.50%
• Cash-on-cash: 65.03%
• DSCR: 3.89
• 1% rule: 2.74%
• Cash to close: $9,800

Investor read

• This is a 2-bed/1.0-bath single-family listed at $35k.
• At list price, monthly cash flow is $531 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($958 rent vs $35k).
• It's been on market 51 days — a 3% lower offer ($34k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $34k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-2.4%/yr); year-one equity from $242 of loan paydown is wiped out by about $850 of value loss. Plan a longer hold.
• Location reads 56/100 on livability (#375 in AR) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, health & safety A, housing A-; Watch: schools D, employment D, crime D-.
• Harrisburg School District (rural): math 31% / reading 35% proficiency, ranked #137 of 238 in AR (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 86% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 55 active listings in the ZIP; 67 units permitted in Poinsett County in 2024 (5 in 5+ unit buildings).
• Poinsett County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $29k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-2.4% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• Crime grade is D 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?
• 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.
• 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.
• 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.