405 Oak St

Leslie, AR 72645

$69,900A-

3 bd · 1.0 ba · 964 sqft · Built 1935 · SingleFamily · Active · 295 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $939/mo
• Mortgage (P&I): −$367
• Tax + insurance: −$57
• HOA: −$0
• Vac / Maint / Mgmt: −$197
• Net cashflow: $318/mo
• Annual: $3,816/yr
• Cap rate: 11.75%
• Cash-on-cash: 19.50%
• DSCR: 1.87
• 1% rule: 1.34%
• Cash to close: $19,572

Investor read

• This is a 3-bed/1.0-bath single-family listed at $70k.
• 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).
• It's been on market 295 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.
• In year one you build about $7k of equity ($483 loan paydown + $6k appreciation (9.3% local appreciation)).
• 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.
• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 24 active listings in the ZIP.
• Searcy County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 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.
• 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.

Questions for listing agent

• 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?
• Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.