21480 Highway 59

Evansville, AR 72948

$115,000D

2 bd · 1.0 ba · 896 sqft · Built 1972 · SingleFamily · Pending

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $851/mo
• Mortgage (P&I): −$603
• Tax + insurance: −$89
• HOA: −$0
• Vac / Maint / Mgmt: −$179
• Net cashflow: $-20/mo
• Annual: $-236/yr
• Cap rate: 6.09%
• Cash-on-cash: -0.73%
• DSCR: 0.97
• 1% rule: 0.74%
• Cash to close: $32,200

Investor read

• This is a 2-bed/1.0-bath single-family listed at $115k.
• At list price, monthly cash flow is $-20 ($-236/yr) — negative.
• To cash-flow at today's rent, offer at most $112k (3.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $85k (26.0% below list).
• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $85k (26.0% below list) — sets the bar for 1% rule.
• In year one you build about $4k of equity ($795 loan paydown + $3k appreciation (3.0% local appreciation)).
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Cedarville School District (rural): math 32% / reading 32% proficiency, ranked #138 of 238 in AR (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 90% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 12 active listings in the ZIP; 47 units permitted in Crawford County in 2024 (0 in 5+ unit buildings).
• Crawford County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 3 sale attempts since 8y 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.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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?
• Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.