500 & 506 Prairie St · Charleston, AR 72933

$1

2 bd · 2.0 ba · 1,315 sqft · SingleFamily · 16 Days on market

Built 1961 0.34 ac lot

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +7.2/30.0
• Schools +3.8/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0
• DSCR +1.4/10.0

Listing remarks

Auction 7/2/2026 @ 10 am. Looking for a great rental property? This unique auction features two separate homes on a spacious 0.34-acre lot, offering a double opportunity for steady rental income. The first home is a cozy 785-square-foot, 1-bedroom, 1-bathroom house with classic wood siding. The second home is a low-maintenance 530-square-foot, 1-bedroom, 1-bathroom house built with solid concrete blocks. Whether you want to rent out both for two streams of income or live in one and rent the other, this property is a solid money-maker.

Key facts

• Low-maintenance
• Two separate homes
• Spacious lot

Tags

• TWO SEPARATE HOMES
• SPACIOUS LOT
• STEADY RENTAL INCOME
• CLASSIC WOOD SIDING
• SOLID CONCRETE BLOCKS
• LOW-MAINTENANCE

Property features AI

Exterior

• Parking: Gravel parking
• Utilities: Public water; Electricity available; Natural gas available
• Home design: Single-family house; One story
• Construction: Built with block, frame, and concrete materials; Slab foundation; Asphalt shingle roof
• Exterior features: Cleared lot; Paved road access; Publicly maintained road

Interior

• Kitchen: Oven
• Flooring: Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Window air conditioning units
• Interior features: Electric water heater; Oven
• Laundry & utility: Electric dryer hookup

🔨 Auction listing. The $1 list price is a nominal opening bid, not a real ask — every metric below is computed on the estimated value $170,950 (ARV from comps), not the list price.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $1.

Deal economics

• At list price, monthly cash flow is $-237 ($-3k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $1).

Location & tenants

• Location reads 69/100 on livability (#70 in AR) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D, amenities F, commute F.
• Charleston School District (rural): math 46% / reading 43% proficiency, ranked #39 of 238 in AR (top 16%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Charleston Elementary School (math 56% / reading 41%, grade D, #109 of 454 statewide, top 25%, 454 students, 47% FRL); Charleston High School (math 38% / reading 46%, grade F, #38 of 292 statewide, top 14%, 435 students, 44% FRL).
• Market conditions: 51 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 23 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $18k of equity ($1k loan paydown + $17k appreciation (10.0% local appreciation)).
• Franklin County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($0) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 256425.0% of price.
• 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.

Recommended offer $1

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is D 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?
6. 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?
7. 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.
8. 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.
9. 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.

Investment metrics

• 1% rule: 0.70% ✗
• Cap rate: 4.63%
• Cash-on-cash: -5.95%
• DSCR: 0.74
• GRM: 11.9

CMA / ARV

• ARV (on-the-fly): $170,950
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
322 N Seventh St	0.27mi	3/2.0 (+1)	1,344 (+2%)	1mo	$185,000	$138	78
216 Greenwood St	0.31mi	2/1.0	1,232 (-6%)	17mo	$19,900	$16	57
12822 Highway 217	0.37mi	3/2.0 (+1)	1,248 (-5%)	17mo	$165,000	$132	56
152 Maplewood Loop	0.53mi	3/2.5 (+1)	1,400 (+6%)	9mo	$229,900	$164	50
18 Fifth St	0.49mi	3/1.0 (+1)	1,221 (-7%)	10mo	$137,000	$112	48
184 Maplewood Loop	0.55mi	3/2.5 (+1)	1,279 (-3%)	20mo	$219,000	$171	47
303 Seventh St	0.31mi	3/2.0 (+1)	1,182 (-10%)	21mo	$72,000	$61	46
172 Maplewood Loop	0.54mi	3/2.5 (+1)	1,400 (+6%)	19mo	$229,900	$164	41
200 Jefferson Dr	0.69mi	3/2.0 (+1)	1,500 (+14%)	6mo	$195,000	$130	34
606 Highland Dr	0.74mi	3/2.0 (+1)	1,455 (+11%)	11mo	$165,000	$113	33
720 Darrin Dr	0.70mi	3/1.0 (+1)	1,258 (-4%)	23mo	$160,000	$127	32
616 Darrin Dr	0.69mi	3/2.0 (+1)	1,452 (+10%)	19mo	$167,700	$115	30

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.1%
• Equity multiple: 2.63×
• Total profit: $78,005
• Equity at exit: $154,005

10-year hold

• IRR: 18.4%
• Equity multiple: 6.05×
• Total profit: $241,636
• Equity at exit: $332,118

Cash invested: $47,866 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 92 Strongly Landlord-Friendly
• State Arkansas: 92 Strongly Landlord-Friendly · R+14
• County: — inherits STATE
• City: — inherits STATE

Only US state where non-payment is criminal. Strongly landlord-favorable; very few tenant protections.

Methodology + full state rankings →

ZIP-level market 72933

• Home prices YoY: 5.8%
• Active inventory: 51

Monthly cashflow live

• Estimated rent: $1,195 medium
• Mortgage (P&I): −$896
• Tax est. 1.5%: −$214 /mo · $2,564/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$251
• Net cashflow: $-237

Break-even live

Break-even rent $1,495

Max offer price $136,606

Occupancy floor —

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $42,738
• Closing costs: $5,128
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
96 N School St Unit 15 Charleston, AR	2.0	1.5	952	$1,195	$1.26	13d	1	0.55mi

Listing history 13 events

1. 2026-06-19
   days on market $1 Active 16 DOM
2. 2026-06-18
   days on market $1 Active 15 DOM
3. 2026-06-17
   days on market $1 Active 14 DOM
4. 2026-06-16
   days on market $1 Active 13 DOM
5. 2026-06-15
   days on market $1 Active 12 DOM
6. 2026-06-14
   days on market $1 Active 10 DOM
7. 2026-06-12
   days on market $1 Active 9 DOM
8. 2026-06-09
   days on market $1 Active 6 DOM
9. 2026-06-08
   days on market $1 Active 5 DOM
10. 2026-06-07
    days on market $1 Active 4 DOM
11. 2026-06-07
    days on market $1 Active 3 DOM
12. 2026-06-04
    remarks 540-char remark
13. 2026-06-04
    listed $1 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥112°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,340
• − Mortgage interest: −$9,576
• − Property taxes: −$2,564
• − Insurance: −$855
• − Repairs & maintenance: −$1,147
• − Management: −$1,147
• − Depreciation: −$4,973
• Taxable loss: −$5,922
• Est. tax savings @ 24.0%: +$1,421
• After-tax cash flow: $-1,427/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Charleston School District
• NCES district ID: 0504200
• Math proficiency: 46% ▼ -12.00%
• Reading proficiency: 43% ▼ -9.00%
• Median HH income: $47,155
• Composite: 37.97/100
• National rank: #4296
• State rank: #39 of 238 in AR

Livability — Charleston

• Score: 69/100
• State rank: #70
• US rank: #8583

Category grades

Amenities F Commute F Cost of living A+ Crime D Employment D- Housing A+ Health & safety A+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Charleston, AR
• Population (ZIP): 5,207

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 16,946 people
• By 2030: 16,403 · -3.2%
• By 2040: 15,303 · -9.7%
• By 2050: 14,243 · -16.0%
• By 2075: 12,136 · -28.4%
• By 2100: 10,443 · -38.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 10% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Iranian 2% Italian 1%
• Foreign-born: 1%

Political lean MEDSL · Franklin

• 2024 margin: Solid R (+62.4) · D 17.7% · R 80.1% · Other 2.2%
• 2008→2024 swing: -23.1pp toward R · 2008: -39.3pp · 2024: -62.4pp
• All cycles: 2024: R+62.4 2020: R+61.4 2016: R+54.6 2012: R+44.4 2008: R+39.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 15.06%
• Current HPI: 273.2222
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 3.80%
• F500 in state: 10

Industry mix (Fortune 500 HQ in AR)

Industry	F500 HQs	Revenue
▸Retail	1	$681B
▸Food / Agriculture	1	$53B
▸Retail / Energy	1	$22B
▸Transportation / Logistics	1	$12B
▸Energy	1	$4B