405 Oak St · Leslie, AR 72645

$69,900

3 bd · 1.0 ba · 964 sqft · SingleFamily public records · 295 Days on market

Built 1935 6,534 sqft lot $73/sqft · 16% below area Est $83k · 16% under

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Why this score? — see what drove the A- 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 +14.5/15.0
• DSCR +10.0/10.0
• Appreciation +9.6/10.0
• 1% rule +8.4/10.0
• Schools +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

3 Bedroom Home in Historic Leslie, AR. Discover this cozy 964 sq. ft. home offering 3 bedrooms and 1 bathroom in the heart of the Ozark Mountains. Inside, you’ll find a nice living space, an electric cook stove, refrigerator, and a laundry room for added convenience and vinyl plank flooring. Comfort is made easy year-round with a mini-split unit providing both heating and cooling. The property includes a nice sized back yard for pets or play area for kids. Located in historic Leslie, Arkansas, this home sits in a region well known for its natural beauty and outdoor recreation. Just a short drive away are world-class vacation destinations including Branson, Missouri, Blanchard Springs Caverns, and premier trout fishing streams. Enjoy easy access to four major freshwater lakes and the Buffalo National River, where you can camp, hike, swim, fish, kayak, and canoe. Whether you’re looking for a starter home, rental investment, or vacation retreat, this property offers small-town charm with endless adventures nearby.

Key facts

• Back yard
• Laundry room
• Electric cook stove

Tags

• ELECTRIC COOK STOVE
• LAUNDRY ROOM
• MINI-SPLIT UNIT
• BACK YARD

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $318 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($939 rent vs $70k).
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#202 in AR) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing B+; Watch: schools C-, crime F, amenities F.
• Searcy County School District (rural): math 39% / reading 40% proficiency, ranked #82 of 238 in AR (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 24 active listings in the ZIP.

Forward outlook

• In year one you build about $7k of equity ($483 loan paydown + $6k appreciation (9.3% local appreciation)).
• Searcy County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (9.3% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 295 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y 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

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $61,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 295 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.34% ✓
• Cap rate: 11.75%
• Cash-on-cash: 19.50%
• DSCR: 1.87
• GRM: 6.2

CMA / ARV

• ARV (median comp): $82,856
• List price: $69,900
• Delta: -15.64%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
610 Cypress St	0.18mi	2/1.0 (-1)	912 (-5%)	5mo	$92,500	$101	74

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

9.29% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 37.6%
• Equity multiple: 3.81×
• Total profit: $54,937
• Equity at exit: $59,394

10-year hold

• IRR: 32.7%
• Equity multiple: 8.41×
• Total profit: $145,053
• Equity at exit: $124,460

Cash invested: $19,572 (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 72645

• Home prices YoY: 3.2%
• Active inventory: 24
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $939 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$28 /mo · $337/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$197
• Net cashflow: $318

Break-even live

Break-even rent $536

Max offer price $69,900

Occupancy floor 61%

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-19
   days on market $69,900 Active 295 DOM
2. 2026-06-18
   days on market $69,900 Active 294 DOM
3. 2026-06-17
   days on market $69,900 Active 293 DOM
4. 2026-06-16
   days on market $69,900 Active 292 DOM
5. 2026-06-15
   days on market $69,900 Active 291 DOM
6. 2026-06-14
   days on market $69,900 Active 289 DOM
7. 2026-06-12
   days on market $69,900 Active 288 DOM
8. 2026-06-09
   days on market $69,900 Active 285 DOM
9. 2026-06-08
   days on market $69,900 Active 284 DOM
10. 2026-06-07
    days on market $69,900 Active 283 DOM
11. 2026-06-07
    days on market $69,900 Active 282 DOM
12. 2026-06-04
    days on market $69,900 Active 279 DOM
13. 2026-06-02
    days on market $69,900 Active 278 DOM
14. 2026-06-01
    days on market $69,900 Active 277 DOM
15. 2026-05-31
    days on market $69,900 Active 276 DOM
16. 2026-05-31
    days on market $69,900 Active 275 DOM
17. 2025-08-28
    listed $69,900 New Listing 1038-char remark

    Show marketing remark (1038 chars)

    3 Bedroom Home in Historic Leslie, AR. Discover this cozy 964 sq. ft. home offering 3 bedrooms and 1 bathroom in the heart of the Ozark Mountains. Inside, you’ll find a nice living space, an electric cook stove, refrigerator, and a laundry room for added convenience and vinyl plank flooring. Comfort is made easy year-round with a mini-split unit providing both heating and cooling. The property includes a nice sized back yard for pets or play area for kids. Located in historic Leslie, Arkansas, this home sits in a region well known for its natural beauty and outdoor recreation. Just a short drive away are world-class vacation destinations including Branson, Missouri, Blanchard Springs Caverns, and premier trout fishing streams. Enjoy easy access to four major freshwater lakes and the Buffalo National River, where you can camp, hike, swim, fish, kayak, and canoe. Whether you’re looking for a starter home, rental investment, or vacation retreat, this property offers small-town charm with endless adventures nearby.

18. 2025-08-28
    listed $69,900 Active 1038-char remark

    Show marketing remark (1038 chars)

    3 Bedroom Home in Historic Leslie, AR. Discover this cozy 964 sq. ft. home offering 3 bedrooms and 1 bathroom in the heart of the Ozark Mountains. Inside, you’ll find a nice living space, an electric cook stove, refrigerator, and a laundry room for added convenience and vinyl plank flooring. Comfort is made easy year-round with a mini-split unit providing both heating and cooling. The property includes a nice sized back yard for pets or play area for kids. Located in historic Leslie, Arkansas, this home sits in a region well known for its natural beauty and outdoor recreation. Just a short drive away are world-class vacation destinations including Branson, Missouri, Blanchard Springs Caverns, and premier trout fishing streams. Enjoy easy access to four major freshwater lakes and the Buffalo National River, where you can camp, hike, swim, fish, kayak, and canoe. Whether you’re looking for a starter home, rental investment, or vacation retreat, this property offers small-town charm with endless adventures nearby.

19. 2024-03-22
    soldstatus $70,000 Sold
20. 2024-03-22
    soldstatus $70,000
21. 2024-02-20
    status Under Contract
22. 2023-12-08
    status Back on Market
23. 2023-11-15
    status Under Contract
24. 2023-10-07
    price $79,900
25. 2023-09-15
    listed $86,700 New Listing
26. 2013-06-28
    soldstatus $15,000
27. 2001-04-24
    soldstatus $13,000
28. 1995-05-09
    soldstatus $6,300
29. 1988-02-01
    soldstatus $10,000

ⓘ 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: $447 · $37/mo
• Expected delta: +$110/yr (+$9/mo · 32.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $11,268
• − Mortgage interest: −$3,915
• − Property taxes: −$337
• − Insurance: −$350
• − Repairs & maintenance: −$901
• − Management: −$901
• − Depreciation: −$2,033
• Taxable income: $2,829
• Est. tax owed @ 24.0%: −$679
• After-tax cash flow: $3,137/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: Searcy County School District
• NCES district ID: 0509480
• Math proficiency: 39% ▼ -16.00%
• Reading proficiency: 40% ▼ -10.00%
• Median HH income: $31,222
• Composite: 32.28/100
• National rank: #5751
• State rank: #82 of 238 in AR

Livability — Leslie

• Score: 63/100
• State rank: #202
• US rank: #15874

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Leslie, AR
• Population (ZIP): 1,329

Population outlook (Searcy County) Hauer SSP2

• Today (2025): 7,091 people
• By 2030: 6,656 · -6.1%
• By 2040: 5,868 · -17.2%
• By 2050: 5,250 · -26.0%
• By 2075: 4,407 · -37.9%
• By 2100: 3,834 · -45.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Slovak 3% Italian 2% Iranian 1%
• Foreign-born: 0% · China

Political lean MEDSL · Searcy

• 2024 margin: Solid R (+72.2) · D 13.2% · R 85.4% · Other 1.4%
• 2008→2024 swing: -26.3pp toward R · 2008: -45.9pp · 2024: -72.2pp
• All cycles: 2024: R+72.2 2020: R+69.1 2016: R+63.7 2012: R+51.0 2008: R+45.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 9.29%
• Current HPI: 295.2629
• 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

+599.0% since first listed

13 events — show timeline

• 2025-08-28 Listed $69,900 NWARMLS
• 2025-08-28 Listed $69,900 CARMLS
• 2024-03-22 Sold (Public Records) $70,000 Public Records
• 2024-03-22 Sold (MLS) $70,000 CARMLS
• 2024-02-20 Pending — CARMLS
• 2023-12-08 Relisted — CARMLS
• 2023-11-15 Pending — CARMLS
• 2023-10-07 Price Changed $79,900 CARMLS
• 2023-09-15 Listed $86,700 CARMLS
• 2013-06-28 Sold (Public Records) $15,000 Public Records
• 2001-04-24 Sold (Public Records) $13,000 Public Records
• 1995-05-09 Sold (Public Records) $6,300 Public Records
• 1988-02-01 Sold (Public Records) $10,000 Public Records

Property tax history

+5.7%/yr

Latest (2025): $337 · +17.0% YoY. Source: county tax records.