2306 E 28th St · Hope, AR 71801

$58,000

3 bd · 2.0 ba · 1,976 sqft · SingleFamily public records · 38 Days on market

Built 2008 ↓ 13% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Built of solid aromatic cedar on a pier and beam foundation, this remarkable 1,967 sq ft two-story unfinished cabin sits behind full game fencing and three iron gates on 1.347 wooded acres. Downstairs has a large room for gameroom, or workshop video room, or an extra large master and side room for storage or walk in closet. Upstairs boasts two bedrooms, 2 baths, utility area and room for another bedroom. The back privacy balcony opens directly to a canopy of gorgeous blossoming Mimosa trees & acirc; & euro; & rdquo; a view that simply cannot be replicated. Ten apple and fig fruit trees, 100 hardwood and pine mature trees, and dual entrances complete a property that is as pract

Key facts

• Utility area
• Wooded acres
• Full game fencing

Tags

• PIER AND BEAM FOUNDATION
• FULL GAME FENCING
• THREE IRON GATES
• WOODED ACRES
• LARGE ROOM FOR GAMEROOM
• UTILITY AREA

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $58k.

Deal economics

• At list price, monthly cash flow is $553 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $58k).
• Recommended offer: $56k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#161 in AR) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute C-, schools F, crime F.
• Hope School District (town): math 13% / reading 21% proficiency, ranked #221 of 238 in AR (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 34 active listings in the ZIP; 1 units permitted in Hempstead County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $401 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Hempstead County population projected at -21% 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 $16k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($56k) is reasonable based on typical stale-listing flexibility.
• 2 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.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $56,260 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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?
5. 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.
6. 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.
7. 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: 2.01% ✓
• Cap rate: 17.74%
• Cash-on-cash: 40.88%
• DSCR: 2.82
• GRM: 4.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 37.4%
• Equity multiple: 2.59×
• Total profit: $25,839
• Equity at exit: $8,648

10-year hold

• IRR: 43.9%
• Equity multiple: 5.18×
• Total profit: $67,864
• Equity at exit: $5,015

Cash invested: $16,240 (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 71801

• Home prices YoY: -19.5%
• Active inventory: 34
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,165 medium
• Mortgage (P&I): −$304
• Tax from tax record: −$39 /mo · $465/yr
• Insurance: −$24
• HOA: −$0
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $553

Break-even live

Break-even rent $465

Max offer price $58,000

Occupancy floor 48%

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: $14,500
• Closing costs: $1,740
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $58,000 Active 38 DOM
2. 2026-06-18
   days on market $58,000 Active 37 DOM
3. 2026-06-17
   days on market $58,000 Active 36 DOM
4. 2026-06-16
   days on market $58,000 Active 35 DOM
5. 2026-06-15
   days on market $58,000 Active 34 DOM
6. 2026-06-14
   days on market $58,000 Active 32 DOM
7. 2026-06-13
   days on market $58,000 Active 31 DOM
8. 2026-06-10
   days on market $58,000 Active 29 DOM
9. 2026-06-09
   days on market $58,000 Active 28 DOM
10. 2026-06-08
    days on market $58,000 Active 27 DOM
11. 2026-06-07
    days on market $58,000 Active 26 DOM
12. 2026-06-05
    days on market $58,000 Active 23 DOM
13. 2026-06-03
    days on market $58,000 Active 22 DOM
14. 2026-06-02
    days on market $58,000 Active 21 DOM
15. 2026-06-01
    days on market $58,000 Active 20 DOM
16. 2026-05-31
    days on market $58,000 Active 19 DOM
17. 2026-05-30
    days on market $58,000 Active 18 DOM
18. 2026-05-12
    listed $58,000 Active 881-char remark
19. 2024-02-22
    listed $67,000 Active

ⓘ 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: $465 · $39/mo
• Projected year-2 tax: $465 · $39/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥110°F today · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 24% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,981
• − Mortgage interest: −$3,249
• − Property taxes: −$465
• − Insurance: −$290
• − Repairs & maintenance: −$1,118
• − Management: −$1,118
• − Depreciation: −$1,687
• Taxable income: $6,052
• Est. tax owed @ 24.0%: −$1,453
• After-tax cash flow: $5,187/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: Hope School District
• NCES district ID: 0507840
• Math proficiency: 13% ▼ -13.00%
• Reading proficiency: 21% ▼ -11.00%
• Median HH income: $32,285
• Composite: 13.71/100
• National rank: #9495
• State rank: #221 of 238 in AR

Livability — Hope

• Score: 64/100
• State rank: #161
• US rank: #13723

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 14,907

Population outlook (Hempstead County) Hauer SSP2

• Today (2025): 20,807 people
• By 2030: 19,949 · -4.1%
• By 2040: 18,236 · -12.4%
• By 2050: 16,466 · -20.9%
• By 2075: 12,676 · -39.1%
• By 2100: 9,314 · -55.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 48% Black 31% Hispanic / Latino 18% Two or more races 7%
• Hispanic origin (detail): Mexican 17%
• Common ancestry: Romanian 1% Serbian 1%
• Foreign-born: 9% · Canada
• Languages at home: 87% English-only · Spanish 13%

Political lean MEDSL · Hempstead

• 2024 margin: Solid R (+39.7) · D 29.2% · R 68.9% · Other 2.0%
• 2008→2024 swing: -20.6pp toward R · 2008: -19.1pp · 2024: -39.7pp
• All cycles: 2024: R+39.7 2020: R+34.0 2016: R+28.9 2012: R+26.3 2008: R+19.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -33.22%
• Current HPI: 136.8593
• 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

-13.4% since first listed

2 events — show timeline

• 2026-05-12 Listed $58,000 FSBO.com
• 2024-02-22 Listed $67,000 TBOR

Property tax history

+14.1%/yr

Latest (2025): $465 · +457.6% YoY. Source: county tax records.