Tbd Slick Rock Rd

Cherokee Village, AR 72542

$22,500C-

3 bd · 1.0 ba · 480 sqft · Built — · Manufactured · Active · 167 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,267/mo
• Mortgage (P&I): −$118
• Tax + insurance: −$19
• HOA: −$0
• Vac / Maint / Mgmt: −$266
• Net cashflow: $864/mo
• Annual: $10,372/yr
• Cap rate: 52.39%
• Cash-on-cash: 164.63%
• DSCR: 8.33
• 1% rule: 5.63%
• Cash to close: $6,300

Investor read

• This is a 3-bed/1.0-bath manufactured listed at $22k.
• At list price, monthly cash flow is $864 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $22k).
• It's been on market 167 days — a 12% lower offer ($20k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $20k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($156 loan paydown + $2k appreciation (10.0% local appreciation)).
• Location reads 62/100 on livability (#227 in AR) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, housing B+; Watch: amenities F, commute F, employment F.
• Highland School District (town): math 43% / reading 39% proficiency, ranked #66 of 238 in AR (top 28%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Cherokee Elementary School (math 58% / reading 40%, grade D, #108 of 454 statewide, top 24%, 594 students, 100% FRL); Highland Middle School (math 41% / reading 36%, grade F, #105 of 201 statewide, top 52%, 492 students, 100% FRL); Highland High School (math 31% / reading 44%, grade F, #62 of 292 statewide, top 21%, 526 students, 100% FRL) — zoned schools average 100% FRL vs 56% district-wide (44 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 129 active listings in the ZIP.
• Fulton County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 5 sale attempts since 4y ago; this cycle's ask has dropped $6k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.
• Cap rate 52.4% vs local median 5.7% in Cherokee Village — 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.

Questions for listing agent

• It's been on market 167 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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 F-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 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.