217 Rogers Ave

Harrison, AR 72601

$99,500C-

2 bd · 1.0 ba · 816 sqft · Built 1970 · SingleFamily · Pending · 47 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $737/mo
• Mortgage (P&I): −$522
• Tax + insurance: −$73
• HOA: −$0
• Vac / Maint / Mgmt: −$155
• Net cashflow: $-12/mo
• Annual: $-142/yr
• Cap rate: 6.15%
• Cash-on-cash: -0.51%
• DSCR: 0.98
• 1% rule: 0.74%
• Cash to close: $27,860

Investor read

• This is a 2-bed/1.0-bath single-family listed at $100k.
• At list price, monthly cash flow is $-12 ($-142/yr) — negative.
• To cash-flow at today's rent, offer at most $97k (2.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $74k (25.9% below list).
• It's been on market 47 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $74k (25.9% below list) — sets the bar for 1% rule.
• Local home prices are declining (-1.9%/yr); year-one equity from $688 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#52 in AR) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Harrison School District (town): math 53% / reading 54% proficiency, ranked #11 of 238 in AR (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Harrison Middle School (math 57% / reading 58%, grade B, #16 of 201 statewide, top 8%, 830 students, 49% FRL); Harrison High School (math 39% / reading 51%, grade D-, #27 of 292 statewide, top 10%, 868 students, 42% FRL) — zoned schools at 45% FRL track the district average.
• Market conditions: 444 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 92 units permitted in Boone County in 2024 (72 in 5+ unit buildings).
• Boone County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 3 sale attempts since 2y 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.
• Cap rate 6.2% vs local median 3.0% in Harrison — 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.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 47 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
• Built in 1970 — 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.
• 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.