2025 Van Buren

Eureka Springs, AR 72632

$3,095,000B

None bd · None ba · 28,652 sqft · Built — · MultiFamily · Active · 49 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $68,900/mo
• Mortgage (P&I): −$16,231
• Tax + insurance: −$5,158
• HOA: −$0
• Vac / Maint / Mgmt: −$14,469
• Net cashflow: $33,042/mo
• Annual: $396,506/yr
• Cap rate: 19.10%
• Cash-on-cash: 45.75%
• DSCR: 3.04
• 1% rule: 2.23%
• Cash to close: $866,600

Investor read

• This is a multifamily listed at $3.10M. Condition is rated good.
• At list price, monthly cash flow is $33k ($397k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($69k rent vs $3.10M).
• It's been on market 49 days — a 3% lower offer ($3.00M) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $3.00M (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-1.8%/yr); year-one equity from $21k of loan paydown is wiped out by about $55k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#78 in AR) — a middle-class / working-renter tenant base. Strengths: cost of living A+; Watch: crime C-, health & safety C-, amenities D.
• Eureka Springs School District (rural): math 37% / reading 46% proficiency, ranked #61 of 238 in AR (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 200 active listings in the ZIP; 30 units permitted in Carroll County in 2024 (0 in 5+ unit buildings).
• Carroll County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-1.8% appreciation + 3.0% rent growth), your $867k cash investment doubles in ~3 years — after that, you're playing with house money.
• Cap rate 19.1% vs local median 1.7% in Eureka Springs — 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 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• 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?
• 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)

• Minor: Painting — The exterior walls and siding appear to have some fading paint.
• Minor: Landscaping — The landscaping appears to have some overgrown areas.