206 W Ctr

Harrisburg, AR 72432

$21,900D+

2 bd · 1.0 ba · 1,008 sqft · Built 1949 · SingleFamily · Active · 143 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $927/mo
• Mortgage (P&I): −$115
• Tax + insurance: −$26
• HOA: −$0
• Vac / Maint / Mgmt: −$195
• Net cashflow: $591/mo
• Annual: $7,097/yr
• Cap rate: 38.70%
• Cash-on-cash: 115.74%
• DSCR: 6.15
• 1% rule: 4.23%
• Cash to close: $6,132

Investor read

• This is a 2-bed/1.0-bath single-family listed at $22k.
• At list price, monthly cash flow is $591 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($927 rent vs $22k).
• It's been on market 143 days — a 12% lower offer ($19k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $19k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-2.4%/yr); year-one equity from $151 of loan paydown is wiped out by about $532 of value loss. Plan a longer hold.
• Location reads 56/100 on livability (#375 in AR) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, health & safety A, housing A-; Watch: schools D, employment D, crime D-.
• Harrisburg School District (rural): math 31% / reading 35% proficiency, ranked #137 of 238 in AR (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 86% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 55 active listings in the ZIP; 67 units permitted in Poinsett County in 2024 (5 in 5+ unit buildings).
• Poinsett County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 7 sale attempts since 4y ago; this cycle's ask is 10% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $10k; list at $22k implies a 119% gain — meaningful room to come down on a strong offer.
• At projected returns (-2.4% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Questions for listing agent

• It's been on market 143 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1949 — 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 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?
• 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?
• 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?
• 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.