150 Wenatchi Rd

Piney, AR 71968

$173,900D+

2 bd · 1.0 ba · 864 sqft · Built 1980 · SingleFamily · Active · 40 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,160/mo
• Mortgage (P&I): −$912
• Tax + insurance: −$209
• HOA: −$0
• Vac / Maint / Mgmt: −$244
• Net cashflow: $-205/mo
• Annual: $-2,461/yr
• Cap rate: 5.26%
• Cash-on-cash: -3.68%
• DSCR: 0.84
• 1% rule: 0.67%
• Cash to close: $48,692

Investor read

• This is a 2-bed/1.0-bath single-family listed at $174k.
• At list price, monthly cash flow is $-205 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $138k (20.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $116k (33.3% below list).
• It's been on market 40 days — a 3% lower offer ($169k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $116k (33.3% below list) — sets the bar for 1% rule.
• In year one you build about $19k of equity ($1k loan paydown + $17k appreciation (10.0% local appreciation)).
• Location reads 62/100 on livability (#218 in AR) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, employment D-.
• Lake Hamilton School District (rural): math 41% / reading 43% proficiency, ranked #54 of 238 in AR (top 23%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lake Hamilton Primary School (666 students, 69% FRL); Lake Hamilton Middle School (math 30% / reading 37%, grade F, #129 of 201 statewide, top 64%, 631 students, 66% FRL); Lake Hamilton High School (math 27% / reading 37%, grade F, #119 of 292 statewide, top 43%, 936 students, 59% FRL) — zoned schools average 64% FRL vs 45% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: flood insurance adds $56/mo.
• Market conditions: 56 active listings in the ZIP; 117 units permitted in Garland County in 2024 (24 in 5+ unit buildings).
• Garland County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 8 sale attempts since 11y ago; this cycle's ask is 15022% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $109k; list at $174k implies a 60% gain — meaningful room to come down on a strong offer.
• By year 3, paydown + projected appreciation supports a ~$47k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.3% vs local median 1.8% in Piney — 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

• 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?
• It's been on market 40 days. Have you received any prior offers? Is the seller open to a 33% concession, seller financing, or rate buy-down credit?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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?
• 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.
• 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.