491 W Main St · Piggott, AR 72454

$40,000

12 bd · 3.0 ba · 2,910 sqft · Other public records · 200 Days on market

6,969 sqft lot ↓ 7% 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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0

Listing remarks

Attention investors! Don’t miss this income-generating triplex located at 491 W Main Street, right in the heart of Piggott, AR. With a total of 2,910 sq ft spread across three separate apartments, this multifamily property is a rare find offering both immediate cash flow and long-term potential. Situated on a manageable 0.16-acre lot, each unit is individually metered, allowing for flexible leasing options. Whether you're expanding your rental portfolio or diving into real estate investing for the first time, this triplex provides an excellent opportunity with multiple revenue streams under one roof.

Key facts

• 6,969 sq ft lot
• 2 parking spots
• Listed 200 days

Property features AI

Finance

• Other: Lot dimensions approximately 50 x 140 (0.16 acres); Paved road access; Corner lot; will not subdivide
• Financial info: Financing available: conventional loan or cash

Exterior

• Parking: Two parking pads
• Utilities: Public sewer; Public water; Municipal electric; Natural gas
• Home design: Multi-unit property (3 units); R2 zoning
• Construction: Metal/vinyl siding; Composition roof; Crawl space foundation; Approximate building size 2,910
• Exterior features: Outside storage area; Wheelchair accessible; Level, corner lot; Inside city limits

Interior

• Kitchen: Electric range; Refrigerator included
• Bedrooms: Three units total: two 1-bedroom units and one 2-bedroom unit
• Flooring: Concrete; Vinyl; Wall-to-wall carpet
• Heating & cooling: Central electric cooling; Window air conditioning units; Floor/wall furnace
• Interior features: Electric hot water heater; Handicapped design / wheelchair accessible; Balcony/loft; Sheetrock walls; Tile ceilings

What this means for you Summary

Snapshot

• This is a 12-bed/3.0-bath other listed at $40k.

Deal economics

• At list price, monthly cash flow is $604 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Recommended offer: $35k (12.0% below list) — sets the bar for market timing.
• Cap rate 24.4% vs local median 4.4% in Piggott — 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 70/100 on livability (#50 in AR) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Piggott School District (town): math 32% / reading 28% proficiency, ranked #157 of 238 in AR (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Piggott Elementary School (math 42% / reading 30%, grade F, #248 of 454 statewide, top 55%, 488 students, 65% FRL); Piggott High School (math 22% / reading 26%, grade F, #206 of 292 statewide, top 71%, 361 students, 49% FRL).
• Market conditions: 71 active listings in the ZIP; 4 units permitted in Clay County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($277 loan paydown + $4k appreciation (10.0% local appreciation)).
• Clay County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 200 days — a 12% lower offer ($35k) is reasonable based on typical stale-listing flexibility.

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 $35,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 200 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 2.72% ✓
• Cap rate: 24.42%
• Cash-on-cash: 64.74%
• DSCR: 3.88
• GRM: 3.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 76.3%
• Equity multiple: 6.38×
• Total profit: $60,272
• Equity at exit: $36,035

10-year hold

• IRR: 70.4%
• Equity multiple: 14.15×
• Total profit: $147,236
• Equity at exit: $77,711

Cash invested: $11,200 (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 72454

• Home prices YoY: 3.4%
• Active inventory: 71
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,088 medium
• Mortgage (P&I): −$210
• Tax from tax record: −$29 /mo · $350/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$229
• Net cashflow: $604

Break-even live

Break-even rent $324

Max offer price $40,000

Occupancy floor 39%

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-04-19
   status Under Contract
2. 2026-03-24
   price $40,000
3. 2026-03-23
   price $40,000
4. 2026-01-07
   price $60,000
5. 2026-01-06
   price $60,000
6. 2025-09-30
   listed $75,000 New Listing
7. 2000-10-31
   soldstatus $43,000

ⓘ 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: $350 · $29/mo
• Projected year-2 tax: $350 · $29/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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 21 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,060
• − Mortgage interest: −$2,241
• − Property taxes: −$350
• − Insurance: −$200
• − Repairs & maintenance: −$1,045
• − Management: −$1,045
• − Depreciation: −$1,164
• Taxable income: $7,017
• Est. tax owed @ 24.0%: −$1,684
• After-tax cash flow: $5,567/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: Piggott School District
• NCES district ID: 0511370
• Math proficiency: 32% ▼ -15.00%
• Reading proficiency: 28% ▼ -10.00%
• Median HH income: $33,336
• Composite: 24.63/100
• National rank: #7628
• State rank: #157 of 238 in AR

Livability — Piggott

• Score: 70/100
• State rank: #50
• US rank: #7358

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Piggott, AR
• Population (ZIP): 4,699

Population outlook (Clay County) Hauer SSP2

• Today (2025): 13,564 people
• By 2030: 12,834 · -5.4%
• By 2040: 11,498 · -15.2%
• By 2050: 10,325 · -23.9%
• By 2075: 8,228 · -39.3%
• By 2100: 6,675 · -50.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Slovak 1% Serbian 1% Italian 1%
• Foreign-born: 1%
• Languages at home: 99% English-only · German/W. Germanic 1%

Political lean MEDSL · Clay

• 2024 margin: Solid R (+61.6) · D 18.3% · R 79.9% · Other 1.9%
• 2008→2024 swing: -47.3pp toward R · 2008: -14.3pp · 2024: -61.6pp
• All cycles: 2024: R+61.6 2020: R+60.3 2016: R+29.8 2012: R+29.1 2008: R+14.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 11.57%
• Current HPI: 355.7877
• 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

-7.0% since first listed

7 events — show timeline

• 2026-04-19 Pending — CARMLS
• 2026-03-24 Price Changed $40,000 CARMLS
• 2026-03-23 Price Changed $40,000 NEABOR MLS
• 2026-01-07 Price Changed $60,000 CARMLS
• 2026-01-06 Price Changed $60,000 NEABOR MLS
• 2025-09-30 Listed $75,000 CARMLS
• 2000-10-31 Sold (Public Records) $43,000 Public Records

Property tax history

-1.2%/yr

Latest (2025): $350 · +8.3% YoY. Source: county tax records.