2204 W Highway 96

Mansfield, AR 72944

$115,000C

3 bd · 1.0 ba · 1,372 sqft · Built 2000 · SingleFamily · Active · 215 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,150/mo
• Mortgage (P&I): −$603
• Tax + insurance: −$192
• HOA: −$0
• Vac / Maint / Mgmt: −$241
• Net cashflow: $114/mo
• Annual: $1,363/yr
• Cap rate: 7.48%
• Cash-on-cash: 4.23%
• DSCR: 1.19
• 1% rule: 1.00%
• Cash to close: $32,200

Investor read

• This is a 3-bed/1.0-bath single-family listed at $115k.
• At list price, monthly cash flow is $114 ($1k/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 $115k (0.0% below list).
• It's been on market 215 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $101k (12.0% below list) — sets the bar for market timing.
• In year one you build about $8k of equity ($795 loan paydown + $7k appreciation (6.1% local appreciation)).
• Location reads 61/100 on livability (#255 in AR) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: schools F, amenities F, commute F.
• Mansfield School District (rural): math 37% / reading 34% proficiency, ranked #110 of 238 in AR (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 26 active listings in the ZIP; 388 units permitted in Sebastian County in 2024 (16 in 5+ unit buildings).
• Sebastian County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Current owner paid $59k; list at $115k implies a 95% gain — meaningful room to come down on a strong offer.
• At projected returns (6.1% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$34k 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

• It's been on market 215 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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?
• 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.