1508 Crepe Myrtle Dr · Jonesboro, AR 72405

$189,000

3 bd · 2.0 ba · 1,230 sqft · SingleFamily public records · 182 Days on market

Built 2015 9,147 sqft lot $154/sqft · 9% below area Est $208k · 9% under

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Why this score? — see what drove the C+ 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 +21.0/30.0
• ARV discount +11.6/15.0
• Appreciation +9.7/10.0
• DSCR +6.7/10.0
• 1% rule +4.7/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0

Listing remarks MLS

1508 Crepe Myrtle Dr is now accepting offers for new humans. Welcome to the kind of house that makes you say, yep, I could totally see myself here being a responsible adult. This Jonesboro cutie sits in a quiet neighborhood where people wave when they drive by (but not in that creepy 'I watch you through the blinds' type way). What you will love about this home is that it has a kitchen ready for dinners. .. .or DoorDash, no judgement. A living space perfect for movie nights, TikTok scrolling or pretending you're going to fold laundry. The yard is big enough for fun, yet small enough you need a landscaping crew. Come see this three bedroom, two bath home and make it your next home.

Key facts

• Big yard
• 9,147 sq ft lot
• Garage

Tags

• KITCHEN READY FOR DINNERS
• LIVING SPACE FOR MOVIE NIGHTS
• BIG YARD

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $189k.

Deal economics

• At list price, monthly cash flow is $268 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $184k (2.6% below list).
• Recommended offer: $166k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.0% 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: schools D, crime F, amenities F.
• Nettleton School District (urban): math 21% / reading 24% proficiency, ranked #199 of 238 in AR (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 152 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 926 units permitted in Craighead County in 2024 (69 in 5+ unit buildings).

Forward outlook

• In year one you build about $19k of equity ($1k loan paydown + $18k appreciation (9.4% local appreciation)).
• Craighead County population projected at +38% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (9.4% appreciation + 3.0% rent growth), your $53k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 182 days — a 12% lower offer ($166k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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.
• Current owner paid $157k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $166,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 182 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.97% ✗
• Cap rate: 7.99%
• Cash-on-cash: 6.08%
• DSCR: 1.27
• GRM: 8.6

CMA / ARV

• ARV (median comp): $207,980
• List price: $189,000
• Delta: -9.13%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1508 Crepe Myrtle Dr	0.00mi	3/2.0	1,230 (0%)	0mo	$179,000	$146	100
741 Brody Ct	0.44mi	3/2.0	1,288 (+5%)	0mo	$215,000	$167	72
745 Brody Ct	0.42mi	3/2.0	1,288 (+5%)	2mo	$203,500	$158	70
5409 Reed Dr	0.59mi	3/2.0	1,302 (+6%)	1mo	$203,500	$156	62
5409 Reed Dr	0.59mi	3/2.0	1,302 (+6%)	1mo	$203,500	$156	62
1213 Hemingway	0.18mi	2/2.0 (-1)	1,081 (-12%)	6mo	$165,000	$153	61
1248 Crepe Myrtle Dr	0.26mi	3/2.0	1,402 (+14%)	5mo	$199,000	$142	60
358 Wildwood Pt Pt	0.75mi	3/2.0	1,274 (+4%)	2mo	$190,000	$149	57
4501 Montego Bay Cv	0.35mi	3/2.5	1,397 (+14%)	4mo	$179,900	$129	56
4765 Wildwood Ln	0.71mi	3/2.0	1,333 (+8%)	3mo	$204,900	$154	50
4728 Wildwood Ln	0.69mi	3/2.0	1,372 (+12%)	2mo	$205,000	$149	47
1913 Millbranch Ln	0.73mi	3/2.0	1,380 (+12%)	7mo	$215,000	$156	39

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

Projected returns pro-forma

9.42% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 27.5%
• Equity multiple: 3.13×
• Total profit: $112,492
• Equity at exit: $162,326

10-year hold

• IRR: 24.2%
• Equity multiple: 6.97×
• Total profit: $316,010
• Equity at exit: $341,942

Cash invested: $52,920 (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 72405

• Home prices YoY: 3.5%
• Active inventory: 152
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,841 medium
• Mortgage (P&I): −$991
• Tax from tax record: −$116 /mo · $1,396/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$387
• Net cashflow: $268

Break-even live

Break-even rent $1,502

Max offer price $189,000

Occupancy floor 80%

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
337 Wolf Den Dr Jonesboro, AR	3.0	2.0	1419	$1,600	$1.13	44d	1	0.94mi
259 Wolf Den Dr Jonesboro, AR	3.0	2.0	1419	$1,550	$1.09	44d	1	1.11mi

Listing history 20 events

1. 2026-06-10
   days on market $189,000 Active 182 DOM
2. 2026-06-09
   days on market $189,000 Active 181 DOM
3. 2026-06-08
   days on market $189,000 Active 180 DOM
4. 2026-06-07
   days on market $189,000 Active 179 DOM
5. 2026-06-05
   days on market $189,000 Active 176 DOM
6. 2026-06-03
   days on market $189,000 Active 175 DOM
7. 2026-06-02
   days on market $189,000 Active 174 DOM
8. 2026-06-01
   days on market $189,000 Active 173 DOM
9. 2026-05-31
   days on market $189,000 Active 172 DOM
10. 2026-05-30
    days on market $189,000 Active 171 DOM
11. 2025-12-08
    listed $189,000 New Listing 689-char remark

    Show marketing remark (689 chars)

    1508 Crepe Myrtle Dr is now accepting offers for new humans. Welcome to the kind of house that makes you say, yep, I could totally see myself here being a responsible adult. This Jonesboro cutie sits in a quiet neighborhood where people wave when they drive by (but not in that creepy 'I watch you through the blinds' type way). What you will love about this home is that it has a kitchen ready for dinners. .. .or DoorDash, no judgement. A living space perfect for movie nights, TikTok scrolling or pretending you're going to fold laundry. The yard is big enough for fun, yet small enough you need a landscaping crew. Come see this three bedroom, two bath home and make it your next home.

12. 2024-12-05
    soldstatus $157,000 Closed 250-char remark

    Show marketing remark (250 chars)

    Looking for a property near NEA Hospital and ASU? Take a tour of this three bedroom, two bath, maintenance free exterior home with an oversized two car garage in Nettleton School District. New LVP flooring for a long lasting modern look. Agent owned.

13. 2024-12-05
    soldstatus $157,000

    Show marketing remark (250 chars)

    Looking for a property near NEA Hospital and ASU? Take a tour of this three bedroom, two bath, maintenance free exterior home with an oversized two car garage in Nettleton School District. New LVP flooring for a long lasting modern look. Agent owned.

14. 2024-11-09
    historical 250-char remark

    Show marketing remark (250 chars)

    Looking for a property near NEA Hospital and ASU? Take a tour of this three bedroom, two bath, maintenance free exterior home with an oversized two car garage in Nettleton School District. New LVP flooring for a long lasting modern look. Agent owned.

15. 2024-10-25
    price $164,750 250-char remark

    Show marketing remark (250 chars)

    Looking for a property near NEA Hospital and ASU? Take a tour of this three bedroom, two bath, maintenance free exterior home with an oversized two car garage in Nettleton School District. New LVP flooring for a long lasting modern look. Agent owned.

16. 2024-09-18
    price $164,800 250-char remark

    Show marketing remark (250 chars)

    Looking for a property near NEA Hospital and ASU? Take a tour of this three bedroom, two bath, maintenance free exterior home with an oversized two car garage in Nettleton School District. New LVP flooring for a long lasting modern look. Agent owned.

17. 2024-09-03
    listed $165,000 Active 250-char remark

    Show marketing remark (250 chars)

    Looking for a property near NEA Hospital and ASU? Take a tour of this three bedroom, two bath, maintenance free exterior home with an oversized two car garage in Nettleton School District. New LVP flooring for a long lasting modern look. Agent owned.

18. 2015-12-21
    soldstatus $95,000
19. 2015-12-21
    soldstatus $107,500
20. 1998-06-02
    soldstatus $13,000

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

Tax reassessment forecast AR · Resets to sale price

• Current annual tax: $1,396 · $116/mo
• Projected year-2 tax: $1,396 · $116/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate 20% 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 4/10 Moderate 8% 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: $22,090
• − Mortgage interest: −$10,587
• − Property taxes: −$1,396
• − Insurance: −$945
• − Repairs & maintenance: −$1,767
• − Management: −$1,767
• − Depreciation: −$5,498
• Taxable income: $129
• Est. tax owed @ 24.0%: −$31
• After-tax cash flow: $3,185/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: Nettleton School District
• NCES district ID: 0510440
• Math proficiency: 21% ▼ -16.00%
• Reading proficiency: 24% ▼ -12.00%
• Median HH income: $39,754
• Composite: 19.0/100
• National rank: #8846
• State rank: #199 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): 18,675
• Household income: $92,440
• Rent vs Own: 27.1% rent · 72.9% own
• Severe rent burden: 443.0

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: Predominantly White (78%)
• Race & ethnicity: White 78% Two or more races 10% Black 9% Hispanic / Latino 3% Asian 1%
• Common ancestry: Slovak 2% Italian 1% Serbian 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 4% Arabic 1%

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: ▲ 9.42%
• Current HPI: 277.37
• Rent YoY: —
• 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

+1353.8% since first listed

10 events — show timeline

• 2025-12-08 Listed $189,000 CARMLS
• 2024-12-05 Sold (Public Records) $157,000 Public Records
• 2024-12-05 Sold (MLS) $157,000 NEABOR MLS
• 2024-11-09 Delisted — NEABOR MLS
• 2024-10-25 Price Changed $164,750 NEABOR MLS
• 2024-09-18 Price Changed $164,800 NEABOR MLS
• 2024-09-03 Listed $165,000 NEABOR MLS
• 2015-12-21 Sold (Public Records) $107,500 Public Records
• 2015-12-21 Sold (Public Records) $95,000 Public Records
• 1998-06-02 Sold (Public Records) $13,000 Public Records

Property tax history

+7.1%/yr

Latest (2025): $1,396 · +10.3% YoY. Source: county tax records.