1102 Olive St

Scranton, AR 72863

$30,000B

3 bd · 2.0 ba · 1,785 sqft · Built 1974 · SingleFamily · Pending · 70 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,191/mo
• Mortgage (P&I): −$157
• Tax + insurance: −$69
• HOA: −$0
• Vac / Maint / Mgmt: −$250
• Net cashflow: $715/mo
• Annual: $8,576/yr
• Cap rate: 34.88%
• Cash-on-cash: 102.09%
• DSCR: 5.54
• 1% rule: 3.97%
• Cash to close: $8,400

Investor read

• This is a 3-bed/2.0-bath single-family listed at $30k.
• At list price, monthly cash flow is $715 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• It's been on market 70 days — a 6% lower offer ($28k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $28k (6.0% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($207 loan paydown + $900 appreciation (3.0% local appreciation)).
• Location reads 61/100 on livability (#229 in AR) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: crime F, amenities F, commute F.
• Scranton School District (rural): math 35% / reading 38% proficiency, ranked #105 of 238 in AR (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Scranton Elementary School (math 37% / reading 32%, grade F, #254 of 454 statewide, top 59%, 239 students, 56% FRL); Scranton High School (math 32% / reading 47%, grade F, #48 of 292 statewide, top 19%, 198 students, 43% FRL).
• Market conditions: 11 active listings in the ZIP; 11 units permitted in Logan County in 2024 (0 in 5+ unit buildings).
• Logan County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $15k (33%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $18k; list at $30k implies a 67% gain — meaningful room to come down on a strong offer.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1974 — 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.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.