104 N Gosnell St N

Gosnell, AR 72316

$728,000B-

None bd · None ba · 9,974 sqft · Built — · MultiFamily · Active · 30 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $8,789/mo
• Mortgage (P&I): −$3,818
• Tax + insurance: −$1,213
• HOA: −$0
• Vac / Maint / Mgmt: −$1,846
• Net cashflow: $1,912/mo
• Annual: $22,947/yr
• Cap rate: 9.45%
• Cash-on-cash: 11.26%
• DSCR: 1.50
• 1% rule: 1.21%
• Cash to close: $203,840

Investor read

• This is a multifamily listed at $728k. Condition is rated poor.
• At list price, monthly cash flow is $2k ($23k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $728k).
• It's been on market 30 days — a 2% lower offer ($717k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $717k (1.5% below list) — sets the bar for market timing.
• In year one you build about $27k of equity ($5k loan paydown + $22k appreciation (3.0% local appreciation)).
• Location reads 69/100 on livability (#67 in AR) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, amenities F, commute F.
• Gosnell School District (town): math 46% / reading 42% proficiency, ranked #42 of 238 in AR (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Gosnell Elementary School (math 58% / reading 47%, grade C-, #75 of 454 statewide, top 17%, 561 students, 76% FRL); Gosnell High School (math 36% / reading 37%, grade F, #79 of 292 statewide, top 27%, 612 students, 69% FRL) — zoned schools average 73% FRL vs 56% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 1 active listings in the ZIP; 69 units permitted in Mississippi County in 2024 (0 in 5+ unit buildings).
• Mississippi County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 4y 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.
• Current owner paid $435k; list at $728k implies a 67% gain — meaningful room to come down on a strong offer.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $204k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$44k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: 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

• 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?
• 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Repairs flagged (vision-AI assessment)

• Major: roof — Shingles are visibly deteriorated
• Major: exterior siding — Siding is peeling and damaged
• Major: concrete driveway — Cracks and unevenness
• Major: windows — Old, possibly single-pane windows
• Major: HVAC/mechanicals — No visible systems, likely outdated