155 Lake Vista Cv

Rockwell, AR 71913

$299,999D+

4 bd · 1.0 ba · 2,112 sqft · Built 1997 · MultiFamily · Active · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,640/mo
• Mortgage (P&I): −$1,573
• Tax + insurance: −$257
• HOA: −$0
• Vac / Maint / Mgmt: −$554
• Net cashflow: $256/mo
• Annual: $3,067/yr
• Cap rate: 7.32%
• Cash-on-cash: 3.65%
• DSCR: 1.16
• 1% rule: 0.88%
• Cash to close: $84,000

Investor read

• This is a 1×2bd/1.0ba + 1×3bd/2.0ba units multifamily listed at $300k. Condition is rated fair.
• At list price, monthly cash flow is $256 ($3k/yr) — positive. Per door: $128/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $264k (12.0% below list).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $264k (12.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#81 in AR) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, schools D-, amenities F.
• Lake Hamilton School District (rural): math 41% / reading 43% proficiency, ranked #54 of 238 in AR (top 23%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+6.4%/yr); 986 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 117 units permitted in Garland County in 2024 (24 in 5+ unit buildings).
• Garland County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Cap rate 7.3% vs local median 1.4% in Rockwell — 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.
• At $2,640/mo this rent would consume 57% of the median local household income ($56k/yr) (locally 1442% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.

Repairs flagged (vision-AI assessment)

• Major: Exposed concrete foundation — Needs stabilization and landscaping
• Major: Uneven ground — Needs leveling and landscaping