303 N Rhodes St · West Memphis, AR 72301

$70,000

2 bd · 12.0 ba · 10,048 sqft · Other public records · 77 Days on market

Built 1978 1,306 sqft lot $7/sqft · 93% below area Est $121k · 42% under $115/mo HOA · 9% of rent ↓ 15% since listing

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

Listing remarks MLS

Dannerwoods single condo for sale or can include in package deal currently rented for $950 per month

Key facts

• $115 HOA
• Built 1978
• Listed 77 days

🏷️ Possibly a rental listed for sale. The $70,000 price doesn't fit this home's estimated sale value (~$121,392) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/12.0-bath other listed at $70k.

Deal economics

• At list price, monthly cash flow is $502 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $66k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.9% vs local median 7.0% in West Memphis — 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.

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: schools D-, crime F, amenities 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.
• Market conditions: 133 active listings in the ZIP; 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 $484 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 4y 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.

Risks & watch-outs

• 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 $65,800 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 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 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.88% ✓
• Cap rate: 14.91%
• Cash-on-cash: 30.76%
• DSCR: 2.37
• GRM: 4.4

CMA / ARV

• ARV (median comp): $121,392
• List price: $70,000
• Delta: -42.34%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.5%
• Equity multiple: 2.06×
• Total profit: $20,709
• Equity at exit: $10,437

10-year hold

• IRR: 33.3%
• Equity multiple: 4.03×
• Total profit: $59,456
• Equity at exit: $6,052

Cash invested: $19,600 (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: 133
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,319 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$28 /mo · $337/yr
• Insurance: −$29
• HOA: −$115
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $502

Break-even live

Break-even rent $683

Max offer price $70,000

Occupancy floor 57%

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $115 · $1,380/yr

Listing history 33 events

1. 2026-06-18
   days on market $70,000 Active 77 DOM
2. 2026-06-17
   days on market $70,000 Active 76 DOM
3. 2026-06-16
   days on market $70,000 Active 75 DOM
4. 2026-06-15
   days on market $70,000 Active 74 DOM
5. 2026-06-13
   days on market $70,000 Active 72 DOM
6. 2026-06-10
   days on market $70,000 Active 69 DOM
7. 2026-06-09
   days on market $70,000 Active 68 DOM
8. 2026-06-08
   days on market $70,000 Active 67 DOM
9. 2026-06-07
   days on market $70,000 Active 66 DOM
10. 2026-06-03
    days on market $70,000 Active 62 DOM
11. 2026-06-02
    days on market $70,000 Active 61 DOM
12. 2026-06-01
    days on market $70,000 Active 60 DOM
13. 2026-05-31
    days on market $70,000 Active 59 DOM
14. 2026-05-14
    soldstatus $68,000 Closed 100-char remark

    Show marketing remark (100 chars)

    Dannerwoods single condo for sale or can include in package deal currently rented for $950 per month

15. 2026-04-25
    status Pending 214-char remark

    Show marketing remark (214 chars)

    UNIT #3 --2 bedroom 1.5 bath condo -end unit HOA fee is $115 per month and includes lawn and grounds maintenance , exterior pest, termite, water , sewer building maintenance and liability insurance

16. 2026-04-24
    listed $69,900 Active 214-char remark

    Show marketing remark (214 chars)

    UNIT #3 --2 bedroom 1.5 bath condo -end unit HOA fee is $115 per month and includes lawn and grounds maintenance , exterior pest, termite, water , sewer building maintenance and liability insurance

17. 2026-04-02
    price $70,000

    Show marketing remark (100 chars)

    Dannerwoods single condo for sale or can include in package deal currently rented for $950 per month

18. 2026-04-02
    status Pending 100-char remark

    Show marketing remark (100 chars)

    Dannerwoods single condo for sale or can include in package deal currently rented for $950 per month

19. 2026-04-02
    listed $70,000 Active

    Show marketing remark (100 chars)

    Dannerwoods single condo for sale or can include in package deal currently rented for $950 per month

20. 2026-03-25
    status Pending
21. 2026-03-23
    soldstatus $70,000 Closed
22. 2026-03-03
    historical
23. 2026-01-23
    listed $70,000 Active 100-char remark

    Show marketing remark (100 chars)

    Dannerwoods single condo for sale or can include in package deal currently rented for $950 per month

24. 2026-01-23
    price $210,000

    Show marketing remark (100 chars)

    Dannerwoods single condo for sale or can include in package deal currently rented for $950 per month

25. 2026-01-23
    listed $69,000 Active

    Show marketing remark (100 chars)

    Dannerwoods single condo for sale or can include in package deal currently rented for $950 per month

26. 2026-01-13
    status Pending
27. 2025-10-17
    listed $280,000 Active
28. 2025-10-17
    listed $70,000 Active
29. 2023-12-15
    soldstatus $54,000 Closed
30. 2023-11-22
    status Pending
31. 2023-09-27
    listed $59,900 Active
32. 2022-05-18
    soldstatus $51,000
33. 2022-02-17
    listed $80,000

ⓘ 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: $337 · $28/mo
• Projected year-2 tax: $448 · $37/mo
• Expected delta: +$111/yr (+$9/mo · 32.9%)

ⓘ 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 ≥110°F today · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 14% 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: $15,824
• − Mortgage interest: −$3,921
• − Property taxes: −$337
• − Insurance: −$350
• − Repairs & maintenance: −$1,266
• − Management: −$1,266
• − HOA: −$1,380
• − Depreciation: −$2,036
• Taxable income: $5,268
• Est. tax owed @ 24.0%: −$1,264
• After-tax cash flow: $4,765/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

-15.0% since first listed

20 events — show timeline

• 2026-05-14 Sold (MLS) $68,000 EARA
• 2026-04-25 Pending — EARA
• 2026-04-24 Listed $69,900 EARA
• 2026-04-02 Price Changed $70,000 EARA
• 2026-04-02 Pending — EARA
• 2026-04-02 Listed $70,000 EARA
• 2026-03-25 Pending — EARA
• 2026-03-23 Sold (MLS) $70,000 NEABOR MLS
• 2026-03-03 Delisted — NEABOR MLS
• 2026-01-23 Listed $70,000 EARA
• 2026-01-23 Price Changed $210,000 EARA
• 2026-01-23 Listed $69,000 NEABOR MLS
• 2026-01-13 Pending — EARA
• 2025-10-17 Listed $70,000 EARA
• 2025-10-17 Listed $280,000 EARA
• 2023-12-15 Sold (MLS) $54,000 EARA
• 2023-11-22 Pending — EARA
• 2023-09-27 Listed $59,900 EARA
• 2022-05-18 Sold (MLS) $51,000 EARA
• 2022-02-17 Listed $80,000 EARA

Property tax history

+23.0%/yr

Latest (2025): $337 · +9.8% YoY. Source: county tax records.