3480 Appomattox Dr

Conway, AR 72032

$85,000B+

3 bd · 1.0 ba · 1,216 sqft · Built 2001 · Manufactured · Active · 22 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,410/mo
• Mortgage (P&I): −$446
• Tax + insurance: −$82
• HOA: −$0
• Vac / Maint / Mgmt: −$296
• Net cashflow: $586/mo
• Annual: $7,037/yr
• Cap rate: 14.57%
• Cash-on-cash: 29.57%
• DSCR: 2.32
• 1% rule: 1.66%
• Cash to close: $23,800

Investor read

• This is a 3-bed/1.0-bath manufactured listed at $85k.
• At list price, monthly cash flow is $586 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• It's been on market 22 days — a 2% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $84k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#71 in AR) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, crime F, amenities F.
• Conway School District (urban): math 43% / reading 47% proficiency, ranked #36 of 238 in AR (top 15%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Conway High West (math 37% / reading 50%, grade F, #36 of 292 statewide, top 12%, 2,181 students, 47% FRL).
• Market conditions: Rents rising (+1.1%/yr); 187 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 865 units permitted in Faulkner County in 2024 (451 in 5+ unit buildings).
• Faulkner County population projected at +32% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 7 sale attempts since 5y 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 $45k; list at $85k implies a 89% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 1.1% rent growth), your $24k cash investment doubles in ~5 years — after that, you're playing with house money.
• Climate carrying-cost: moderate wildfire 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 14.6% vs local median 3.9% in Conway — 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

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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?
• 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.