1900 Cedar Heights Dr · Jonesboro, AR 72401

$399,900

10 bd · 7.5 ba · 6,716 sqft · MultiFamily · 62 Days on market

Built 1999 Fair condition 0.44 ac lot

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Why this score? — see what drove the B- 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).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +3.4/5.0
• Livability +3.2/5.0
• Schools +2.3/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 5 units. estimate disagrees with records

Listing remarks

Welcome to the Multifamily Market 1900 Cedar Heights Dr and 405 Melrose St of the Cedar Heights 1st Addition in Jonesboro, Arkansas, within the Jonesboro School District. Opportunity Knocks! This prime piece of rental property offers 2 fourplexes totaling 8 income-producing units. The exteriors are wrapped in brick and vinyl, topped with 3-tab shingles, and accented by a parking lot, mature shade trees, and a small patio at each unit. The interior of each unit includes 2 bedrooms, 1.5 bathrooms, a living room and kitchen, and washer and dryer hookups. Each unit contains a refrigerator and stove and tenants pay electric. Occupied units are rented at $650 per month. Conveniently located near

Key facts

• Mature shade trees
• Conveniently located
• 0.44 acre lot

Tags

• INCOME PRODUCING UNITS
• BRICK AND VINYL EXTERIORS
• MATURE SHADE TREES
• WASHER AND DRYER HOOKUPS
• REFRIGERATOR AND STOVE
• CONVENIENTLY LOCATED

Property features AI

Finance

• Other: Approximate building size 6,716 sq ft; Approximate lot size 0.44 acres (tax records); Will not subdivide
• Financial info: Potential financing available: Cash or in-house financing; Taxes, insurance, and utilities are included in expenses; Tenants are responsible for cable and electric; Minimum and maximum 2-bedroom rent listed at $650 per unit

Exterior

• Parking: Assigned garage parking
• Utilities: Municipal electric; Public water; Public sewer
• Home design: Multifamily building (8-unit); R-1 zoning
• Construction: Slab foundation
• Exterior features: Brick and metal/vinyl siding exterior; Rolled roof; Paved road access; Property is level and located in a subdivision; Inside city limits

Interior

• Kitchen: Built-in stove in units
• Bedrooms: Eight 2-bedroom units
• Flooring: Laminate flooring; Tile flooring
• Bathrooms: Each unit has 1.5 baths
• Heating & cooling: Central electric heating; Central electric cooling
• Interior features: Washer and dryer connections in units; All units share common features
• Laundry & utility: Washer connection; Dryer connection (electric)

What this means for you Summary

Snapshot

• This is a 5 × 2-bed/?-bath units multifamily listed at $400k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $2k ($27k/yr) — positive. Per door: $444/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $400k).
• Recommended offer: $376k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.0% vs local median 4.4% in Jonesboro — 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.

Location & tenants

• Location reads 65/100 on livability (#145 in AR) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Jonesboro School District (urban): math 28% / reading 28% proficiency, ranked #169 of 238 in AR (top 71%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: The Academies At Jonesboro High School (math 16% / reading 27%, grade F, #225 of 292 statewide, top 78%, 1,386 students, 100% FRL) — zoned schools average 100% FRL vs 67% district-wide (33 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.6%/yr); 295 active listings in the ZIP; 926 units permitted in Craighead County in 2024 (69 in 5+ unit buildings).
• At $6,309/mo this rent would consume 167% of the median local household income ($45k/yr) (locally 2606% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Craighead County population projected at +38% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.6% rent growth), your $112k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($376k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 7y 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.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $375,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. Crime grade is F 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?
9. 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.
10. 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.
11. 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.

Investment metrics

• 1% rule: 1.58% ✓
• Cap rate: 12.96%
• Cash-on-cash: 23.80%
• DSCR: 2.06
• GRM: 5.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.64% rent growth · sell at horizon

5-year hold

• IRR: 17.7%
• Equity multiple: 1.72×
• Total profit: $80,807
• Equity at exit: $59,626

10-year hold

• IRR: 26.6%
• Equity multiple: 3.41×
• Total profit: $269,855
• Equity at exit: $34,576

Cash invested: $111,972 (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 72401

• Home prices YoY: -34.2%
• Rents YoY: 3.6%
• Active inventory: 295
• Price-to-rent: 26.4×

Monthly cashflow live

• Estimated rent: $6,309 medium
• Mortgage (P&I): −$2,097
• Tax est. 1.5%: −$500 /mo · $5,998/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,325
• Net cashflow: $2,220

Break-even live

Break-even rent $3,498

Max offer price $399,900

Occupancy floor 60%

5-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 5× units	2	—	$6,310
Total (5 units)			$6,309

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: $99,975
• Closing costs: $11,997
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-19
   days on market $399,900 Active 62 DOM
2. 2026-06-18
   days on market $399,900 Active 61 DOM
3. 2026-06-17
   days on market $399,900 Active 60 DOM
4. 2026-06-16
   days on market $399,900 Active 59 DOM
5. 2026-06-15
   days on market $399,900 Active 58 DOM
6. 2026-06-14
   days on market $399,900 Active 56 DOM
7. 2026-06-13
   days on market $399,900 Active 55 DOM
8. 2026-06-10
   days on market $399,900 Active 53 DOM
9. 2026-06-09
   days on market $399,900 Active 52 DOM
10. 2026-06-08
    days on market $399,900 Active 51 DOM
11. 2026-06-07
    days on market $399,900 Active 50 DOM
12. 2026-06-05
    days on market $399,900 Active 47 DOM
13. 2026-06-02
    days on market $399,900 Active 45 DOM
14. 2026-06-01
    days on market $399,900 Active 44 DOM
15. 2026-05-31
    days on market $399,900 Active 43 DOM
16. 2026-05-30
    days on market $399,900 Active 42 DOM
17. 2026-04-18
    listed $399,900 New Listing
18. 2026-03-03
    historical
19. 2025-10-25
    price $249,900
20. 2025-10-24
    price $249,900
21. 2025-09-11
    listed $259,900 Active
22. 2025-09-10
    listed $259,900 New Listing
23. 2019-02-18
    listed $160,000

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 22 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $75,708
• − Mortgage interest: −$22,401
• − Property taxes: −$5,998
• − Insurance: −$2,000
• − Repairs & maintenance: −$6,057
• − Management: −$6,057
• − Depreciation: −$11,633
• Taxable income: $21,563
• Est. tax owed @ 24.0%: −$5,175
• After-tax cash flow: $21,471/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This multifamily property requires moderate rehabilitation to improve its condition and increase its value. Key areas for improvement include the exterior, roof, and flooring.

Repairs flagged

• Major siding — Severe weathering
• Major roof — 3-tab shingles, potential leaks
• Major flooring — Tile flooring, dull and stained

Value-add opportunities

• Both paint and update exterior — Enhances curb appeal and interior aesthetics
• Both replace flooring — Improves living space and rental appeal
• Both update bathrooms — Enhances living space and rental appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
siding · Severe weathering	Major	$15,000–50,000
roof · 3-tab shingles, potential leaks	Major	$15,000–50,000
flooring · Tile flooring, dull and stained	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both paint and update exterior — Enhances curb appeal and interior aesthetics ↑
• Both replace flooring — Improves living space and rental appeal ↑
• Both update bathrooms — Enhances living space and rental appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Jonesboro School District
• NCES district ID: 0508280
• Math proficiency: 28% ▼ -9.00%
• Reading proficiency: 28% ▼ -8.00%
• Median HH income: $34,347
• Composite: 23.06/100
• National rank: #7967
• State rank: #169 of 238 in AR

Livability — Jonesboro

• Score: 65/100
• State rank: #145
• US rank: #12692

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Jonesboro, AR
• County: Craighead County · 97,185 people
• City population: 91,245
• Metro: Jonesboro, AR
• Population (ZIP): 42,602
• Household income: $45,329
• Rent vs Own: 51.1% rent · 48.9% own
• Severe rent burden: 2606.0

Population outlook (Craighead County) Hauer SSP2

• Today (2025): 122,235 people
• By 2030: 131,338 · +7.4%
• By 2040: 149,862 · +22.6%
• By 2050: 168,034 · +37.5%
• By 2075: 208,094 · +70.2%
• By 2100: 233,251 · +90.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 60% Black 26% Hispanic / Latino 9% Two or more races 7%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Slovak 2% Italian 1% Lithuanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 92% English-only · Spanish 7%

Political lean MEDSL · Craighead

• 2024 margin: Solid R (+37.4) · D 30.1% · R 67.5% · Other 2.4%
• 2008→2024 swing: -12.9pp toward R · 2008: -24.5pp · 2024: -37.4pp
• All cycles: 2024: R+37.4 2020: R+35.4 2016: R+35.2 2012: R+31.1 2008: R+24.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -108.25%
• Current HPI: 208.2079
• Rent YoY: ▲ 3.64%
• Metro: Jonesboro, AR
• 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

Price history

+149.9% since first listed

7 events — show timeline

• 2026-04-18 Listed $399,900 CARMLS
• 2026-03-03 Listing Removed — CARMLS
• 2025-10-25 Price Changed $249,900 CARMLS
• 2025-10-24 Price Changed $249,900 NEABOR MLS
• 2025-09-11 Listed $259,900 NEABOR MLS
• 2025-09-10 Listed $259,900 CARMLS
• 2019-02-18 Listed $160,000 NEABOR MLS