210 Alex Loop

Redfield, AR 72132

$185,000C+

3 bd · 2.0 ba · 2,560 sqft · Built 2007 · Manufactured · Active · 43 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,585/mo
• Mortgage (P&I): −$970
• Tax + insurance: −$124
• HOA: −$0
• Vac / Maint / Mgmt: −$333
• Net cashflow: $158/mo
• Annual: $1,898/yr
• Cap rate: 7.32%
• Cash-on-cash: 3.66%
• DSCR: 1.16
• 1% rule: 0.86%
• Cash to close: $51,800

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $185k.
• At list price, monthly cash flow is $158 ($2k/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 $159k (14.3% below list).
• It's been on market 43 days — a 3% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $159k (14.3% below list) — sets the bar for 1% rule.
• In year one you build about $20k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Location reads 68/100 on livability (#83 in AR) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: amenities F, commute F.
• Sheridan School District (town): math 36% / reading 38% proficiency, ranked #89 of 238 in AR (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Sheridan Elementary School (596 students, 47% FRL); Sheridan High School (math 26% / reading 36%, grade F, #131 of 292 statewide, top 45%, 1,271 students, 35% FRL) — zoned schools at 41% FRL track the district average.
• Market conditions: 13 active listings in the ZIP; 28 units permitted in Grant County in 2024 (0 in 5+ unit buildings).
• Grant County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 3 sale attempts since 7y 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 $114k; list at $185k implies a 63% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $52k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$32k 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→19/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 43 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.