402 Lake St · Lake City, AR 72437

$150,000

2 bd · 1.0 ba · 984 sqft · SingleFamily public records · 21 Days on market

6,046 sqft lot Est $122k · 23% over

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Why this score? — see what drove the C 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 +24.7/30.0
• Appreciation +10.0/10.0
• DSCR +8.0/10.0
• 1% rule +5.2/10.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks MLS

Quaint 2 bedroom, 1 bath home located in Lake City. With a little TLC this property would make a great starter home or investment property. Call today for more information or to schedule a showing appointment.

Key facts

• New appliances
• Updated bathrooms
• Updated kitchen

Tags

• NEW SUBFLOOR
• NEW JOISTS
• NEW VAPOR BARRIER
• UPDATED KITCHEN
• NEW APPLIANCES
• UPDATED BATHROOMS

Property features AI

Exterior

• Utilities: Public water
• Home design: Single-family residential property
• Construction: Vinyl siding
• Exterior features: Outbuilding

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Dishwasher; Microwave; Refrigerator

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $314 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $148k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 5.2% in Lake City — 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.

Location & tenants

• Location reads 64/100 on livability (#180 in AR) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, employment D-.
• Riverside School District (rural): math 32% / reading 42% proficiency, ranked #103 of 238 in AR (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Riverside East Elem. School (math 27% / reading 32%, grade F, #305 of 454 statewide, top 71%, 147 students, 75% FRL); Riverside High School (math 27% / reading 40%, grade F, #112 of 292 statewide, top 39%, 331 students, 47% FRL).
• Market conditions: 35 active listings in the ZIP; 926 units permitted in Craighead County in 2024 (69 in 5+ unit buildings).

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• Craighead County population projected at +38% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 3 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 $85k; list at $150k implies a 76% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $147,750 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.02% ✓
• Cap rate: 8.80%
• Cash-on-cash: 8.96%
• DSCR: 1.40
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $122,016
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
603 1/2 Lake St	0.18mi	3/1.0 (+1)	975 (-1%)	6mo	$119,000	$122	80
505 Maumelle St	0.11mi	3/1.0 (+1)	1,056 (+7%)	11mo	$135,000	$128	69
105 Mead St	0.16mi	3/1.0 (+1)	1,026 (+4%)	16mo	$127,000	$124	67
509 Mead St	0.29mi	2/1.0	912 (-7%)	10mo	$109,900	$121	66
1013 Franklin	0.60mi	3/1.0 (+1)	950 (-4%)	3mo	$130,000	$137	59
403 Mead	0.23mi	2/1.0	850 (-14%)	13mo	$115,000	$135	56
1009 Opal Cir	0.57mi	3/1.0 (+1)	1,121 (+14%)	4mo	$133,900	$119	41
1102 Estelle	0.64mi	3/1.0 (+1)	1,121 (+14%)	2mo	$145,000	$129	41
1011 Opal Cir	0.56mi	3/1.0 (+1)	1,076 (+9%)	18mo	$150,000	$139	38
810 Grimes Rd	0.52mi	3/1.0 (+1)	1,121 (+14%)	15mo	$129,900	$116	35
911 Grimes St	0.65mi	3/1.0 (+1)	1,121 (+14%)	10mo	$85,000	$76	33
1008 Catfish St	0.65mi	3/1.0 (+1)	1,121 (+14%)	15mo	$135,000	$120	29

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

9.97% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 30.7%
• Equity multiple: 3.41×
• Total profit: $101,278
• Equity at exit: $134,776

10-year hold

• IRR: 26.6%
• Equity multiple: 7.72×
• Total profit: $282,325
• Equity at exit: $290,273

Cash invested: $42,000 (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 72437

• Home prices YoY: 3.5%
• Active inventory: 35
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,537 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$51 /mo · $618/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$323
• Net cashflow: $314

Break-even live

Break-even rent $1,140

Max offer price $150,000

Occupancy floor 75%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-19
   days on market $150,000 Active 21 DOM
2. 2026-06-18
   days on market $150,000 Active 20 DOM
3. 2026-06-17
   days on market $150,000 Active 19 DOM
4. 2026-06-16
   days on market $150,000 Active 18 DOM
5. 2026-06-15
   days on market $150,000 Active 17 DOM
6. 2026-06-14
   days on market $150,000 Active 15 DOM
7. 2026-06-12
   days on market $150,000 Active 14 DOM
8. 2026-06-09
   days on market $150,000 Active 11 DOM
9. 2026-06-08
   days on market $150,000 Active 10 DOM
10. 2026-06-07
    days on market $150,000 Active 9 DOM
11. 2026-06-05
    days on market $150,000 Active 7 DOM
12. 2026-06-04
    days on market $150,000 Active 5 DOM
13. 2026-06-02
    days on market $150,000 Active 4 DOM
14. 2026-06-01
    days on market $150,000 Active 3 DOM
15. 2026-05-31
    days on market $150,000 Active 2 DOM
16. 2026-05-29
    listed $150,000 Active
17. 2026-03-23
    soldstatus $85,000
18. 2021-08-09
    soldstatus $35,000 Sold 209-char remark

    Show marketing remark (209 chars)

    Quaint 2 bedroom, 1 bath home located in Lake City. With a little TLC this property would make a great starter home or investment property. Call today for more information or to schedule a showing appointment.

19. 2021-08-06
    status Under Contract 209-char remark

    Show marketing remark (726 chars)

    Quaint 2 bedroom, 1 bath home located in Lake City. With a little tlc this property would make a great starter home or investment property. Call today for more information or to schedule a showing appointment. Please be advised that any offers on this property require a minimum Earnest Money Deposit of 1% of the Purchase Price or $1,000, whichever is greater. All initial offers must be submitted via PropOffers.com by the BUYER AGENT ONLY. BUYER'S AGENT IS TO PAY A $175.00 OFFER MANAGEMENT FEE AT CLOSING OF ANY ACCEPTED OFFER. Legal Description: U S Subdivision of Lot 2 Supplemental Survey in S27-T14N-R6E (South 18.4ft Lot 17, all Lot 18 & North 2.4ft of Lot 19 of US Subdivision, Lake City, Craighead Co. , AR. )

20. 2021-08-06
    soldstatus $35,000 726-char remark

    Show marketing remark (726 chars)

    Quaint 2 bedroom, 1 bath home located in Lake City. With a little tlc this property would make a great starter home or investment property. Call today for more information or to schedule a showing appointment. Please be advised that any offers on this property require a minimum Earnest Money Deposit of 1% of the Purchase Price or $1,000, whichever is greater. All initial offers must be submitted via PropOffers.com by the BUYER AGENT ONLY. BUYER'S AGENT IS TO PAY A $175.00 OFFER MANAGEMENT FEE AT CLOSING OF ANY ACCEPTED OFFER. Legal Description: U S Subdivision of Lot 2 Supplemental Survey in S27-T14N-R6E (South 18.4ft Lot 17, all Lot 18 & North 2.4ft of Lot 19 of US Subdivision, Lake City, Craighead Co. , AR. )

21. 2021-07-01
    historical 209-char remark

    Show marketing remark (209 chars)

    Quaint 2 bedroom, 1 bath home located in Lake City. With a little TLC this property would make a great starter home or investment property. Call today for more information or to schedule a showing appointment.

22. 2021-05-27
    listed $39,900 New Listing 209-char remark

    Show marketing remark (726 chars)

    Quaint 2 bedroom, 1 bath home located in Lake City. With a little tlc this property would make a great starter home or investment property. Call today for more information or to schedule a showing appointment. Please be advised that any offers on this property require a minimum Earnest Money Deposit of 1% of the Purchase Price or $1,000, whichever is greater. All initial offers must be submitted via PropOffers.com by the BUYER AGENT ONLY. BUYER'S AGENT IS TO PAY A $175.00 OFFER MANAGEMENT FEE AT CLOSING OF ANY ACCEPTED OFFER. Legal Description: U S Subdivision of Lot 2 Supplemental Survey in S27-T14N-R6E (South 18.4ft Lot 17, all Lot 18 & North 2.4ft of Lot 19 of US Subdivision, Lake City, Craighead Co. , AR. )

23. 2021-05-27
    listed $39,900 726-char remark

    Show marketing remark (726 chars)

    Quaint 2 bedroom, 1 bath home located in Lake City. With a little tlc this property would make a great starter home or investment property. Call today for more information or to schedule a showing appointment. Please be advised that any offers on this property require a minimum Earnest Money Deposit of 1% of the Purchase Price or $1,000, whichever is greater. All initial offers must be submitted via PropOffers.com by the BUYER AGENT ONLY. BUYER'S AGENT IS TO PAY A $175.00 OFFER MANAGEMENT FEE AT CLOSING OF ANY ACCEPTED OFFER. Legal Description: U S Subdivision of Lot 2 Supplemental Survey in S27-T14N-R6E (South 18.4ft Lot 17, all Lot 18 & North 2.4ft of Lot 19 of US Subdivision, Lake City, Craighead Co. , AR. )

ⓘ 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: $618 · $51/mo
• Projected year-2 tax: $960 · $80/mo
• Expected delta: +$342/yr (+$29/mo · 55.4%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X · 66% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 8% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,445
• − Mortgage interest: −$8,402
• − Property taxes: −$618
• − Insurance: −$750
• − Repairs & maintenance: −$1,476
• − Management: −$1,476
• − Depreciation: −$4,364
• Taxable income: $1,360
• Est. tax owed @ 24.0%: −$326
• After-tax cash flow: $3,438/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: Riverside School District
• NCES district ID: 0500012
• Math proficiency: 32% ▼ -14.00%
• Reading proficiency: 42% ▼ -9.00%
• Median HH income: $37,959
• Composite: 30.82/100
• National rank: #6136
• State rank: #103 of 238 in AR

Livability — Lake City

• Score: 64/100
• State rank: #180
• US rank: #14568

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lake City, AR
• Population (ZIP): 3,386

Population outlook (Craighead County) Hauer SSP2

• Today (2025): 122,235 people
• By 2030: 131,338 · +7.4%
• By 2040: 149,862 · +22.6%
• By 2050: 168,034 · +37.5%
• By 2075: 208,094 · +70.2%
• By 2100: 233,251 · +90.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Black 1%
• Common ancestry: Italian 2% Slovak 2% Iranian 1%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Craighead

• 2024 margin: Solid R (+37.4) · D 30.1% · R 67.5% · Other 2.4%
• 2008→2024 swing: -12.9pp toward R · 2008: -24.5pp · 2024: -37.4pp
• All cycles: 2024: R+37.4 2020: R+35.4 2016: R+35.2 2012: R+31.1 2008: R+24.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 9.97%
• Current HPI: 295.1637
• 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

+275.9% since first listed

8 events — show timeline

• 2026-05-29 Listed $150,000 NEABOR MLS
• 2026-03-23 Sold (Public Records) $85,000 Public Records
• 2021-08-09 Sold (MLS) $35,000 CARMLS
• 2021-08-06 Pending — CARMLS
• 2021-08-06 Sold (MLS) $35,000 NEABOR MLS
• 2021-07-01 Listing Removed — CARMLS
• 2021-05-27 Listed $39,900 NEABOR MLS
• 2021-05-27 Listed $39,900 CARMLS

Property tax history

+27.3%/yr

Latest (2025): $618 · +0.0% YoY. Source: county tax records.