118 W Oak St · Cove, AR 71937

$65,000

1 bd · 1.5 ba · 1,896 sqft · SingleFamily public records · 108 Days on market

Built 1946 0.93 ac lot $34/sqft · 91% below area

---

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
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• ARV discount +7.5/15.0
• Appreciation +5.4/10.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Originally constructed as a church, this unique property offers a blank slate to design and customize your home to fit your vision. The large lot provides plenty of room to spread out. Don’t miss this opportunity to create something special for yourself!

Key facts

• 0.93 acre lot
• Built 1946
• Listed 107 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $360 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($956 rent vs $65k).
• Recommended offer: $59k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 49/100 on livability (#493 in AR) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: schools F, crime F, amenities F.
• Cossatot River School District (rural): math 42% / reading 39% proficiency, ranked #68 of 238 in AR (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 89% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 20 active listings in the ZIP; 4 units permitted in Polk County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $978 of equity ($449 loan paydown + $529 appreciation (0.8% local appreciation)).
• Polk County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.8% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 108 days — a 9% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $15k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $59,150 (9.0% below list)

Questions for the listing agent

1. It's been on market 108 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.47% ✓
• Cap rate: 12.94%
• Cash-on-cash: 23.74%
• DSCR: 2.06
• GRM: 5.7

CMA / ARV

• ARV (median comp): $753,813
• List price: $65,000
• Delta: -91.38%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

0.81% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.5%
• Equity multiple: 2.29×
• Total profit: $23,539
• Equity at exit: $21,560

10-year hold

• IRR: 28.5%
• Equity multiple: 4.38×
• Total profit: $61,436
• Equity at exit: $28,171

Cash invested: $18,200 (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 71937

• Home prices YoY: 0.6%
• Active inventory: 20
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $956 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$28 /mo · $331/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$201
• Net cashflow: $360

Break-even live

Break-even rent $501

Max offer price $65,000

Occupancy floor 57%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $65,000 Active 108 DOM
2. 2026-06-18
   days on market $65,000 Active 107 DOM
3. 2026-06-17
   statusdays on market $65,000 Active 106 DOM
4. 2026-06-16
   days on market $65,000 Price Change 105 DOM
5. 2026-06-15
   days on market $65,000 Price Change 104 DOM
6. 2026-06-14
   days on market $65,000 Price Change 102 DOM
7. 2026-06-12
   pricestatusdays on market $65,000 Price Change 101 DOM
8. 2026-06-09
   days on market $72,500 Active 98 DOM
9. 2026-06-08
   days on market $72,500 Active 97 DOM
10. 2026-06-07
    days on market $72,500 Active 96 DOM
11. 2026-06-07
    days on market $72,500 Active 95 DOM
12. 2026-06-04
    days on market $72,500 Active 92 DOM
13. 2026-06-02
    days on market $72,500 Active 91 DOM
14. 2026-06-01
    days on market $72,500 Active 90 DOM
15. 2026-05-31
    days on market $72,500 Active 89 DOM
16. 2026-05-31
    days on market $72,500 Active 88 DOM
17. 2026-04-18
    price $72,500 260-char remark

    Show marketing remark (260 chars)

    Originally constructed as a church, this unique property offers a blank slate to design and customize your home to fit your vision. The large lot provides plenty of room to spread out. Don’t miss this opportunity to create something special for yourself!

18. 2026-03-03
    listed $79,900 New Listing 260-char remark

    Show marketing remark (260 chars)

    Originally constructed as a church, this unique property offers a blank slate to design and customize your home to fit your vision. The large lot provides plenty of room to spread out. Don’t miss this opportunity to create something special for yourself!

19. 2022-10-31
    historical
20. 2022-08-16
    listed $49,900 New Listing

ⓘ 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: $331 · $28/mo
• Projected year-2 tax: $416 · $35/mo
• Expected delta: +$85/yr (+$7/mo · 25.7%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥109°F today · 18 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,478
• − Mortgage interest: −$3,641
• − Property taxes: −$331
• − Insurance: −$325
• − Repairs & maintenance: −$918
• − Management: −$918
• − Depreciation: −$1,891
• Taxable income: $3,453
• Est. tax owed @ 24.0%: −$829
• After-tax cash flow: $3,492/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: Cossatot River School District
• NCES district ID: 0500405
• Math proficiency: 42% ▼ -1.00%
• Reading proficiency: 39% ▼ -6.00%
• Median HH income: $33,594
• Composite: 33.36/100
• National rank: #5483
• State rank: #68 of 238 in AR

Livability — Cove

• Score: 49/100
• State rank: #493
• US rank: #25813

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cove, AR
• Population (ZIP): 2,012

Population outlook (Polk County) Hauer SSP2

• Today (2025): 19,065 people
• By 2030: 18,369 · -3.7%
• By 2040: 17,156 · -10.0%
• By 2050: 16,177 · -15.1%
• By 2075: 14,642 · -23.2%
• By 2100: 13,020 · -31.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 7% Hispanic / Latino 2% Native American 2%
• Common ancestry: Lithuanian 2% Italian 1% Slovak 1%
• Foreign-born: 0%

Political lean MEDSL · Polk

• 2024 margin: Solid R (+70.5) · D 13.8% · R 84.3% · Other 1.9%
• 2008→2024 swing: -24.7pp toward R · 2008: -45.8pp · 2024: -70.5pp
• All cycles: 2024: R+70.5 2020: R+68.2 2016: R+66.4 2012: R+56.9 2008: R+45.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.81%
• Current HPI: 146.3661
• Rent YoY: —
• Metro: —
• 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

+45.3% since first listed

4 events — show timeline

• 2026-04-18 Price Changed $72,500 CARMLS
• 2026-03-03 Listed $79,900 CARMLS
• 2022-10-31 Listing Removed — CARMLS
• 2022-08-16 Listed $49,900 CARMLS