951 Ar 223 Hwy

Pineville, AR 72566

$189,900D

3 bd · 2.5 ba · 1,968 sqft · Built 1974 · SingleFamily · Active · 57 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,150/mo
• Mortgage (P&I): −$996
• Tax + insurance: −$152
• HOA: −$0
• Vac / Maint / Mgmt: −$241
• Net cashflow: $-240/mo
• Annual: $-2,879/yr
• Cap rate: 4.78%
• Cash-on-cash: -5.41%
• DSCR: 0.76
• 1% rule: 0.61%
• Cash to close: $53,172

Investor read

• This is a 3-bed/2.5-bath single-family listed at $190k.
• At list price, monthly cash flow is $-240 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $148k (22.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $115k (39.5% below list).
• It's been on market 57 days — a 3% lower offer ($184k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $115k (39.5% below list) — sets the bar for 1% rule.
• In year one you build about $7k of equity ($1k loan paydown + $6k appreciation (3.0% local appreciation)).
• Location reads 57/100 on livability (#336 in AR) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools C-, crime F, amenities F.
• Calico Rock School District (rural): math 33% / reading 41% proficiency, ranked #108 of 238 in AR (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 8 active listings in the ZIP; 6 units permitted in Izard County in 2024 (0 in 5+ unit buildings).
• Izard County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts 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.
• By year 5, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 57 days. Have you received any prior offers? Is the seller open to a 39% concession, seller financing, or rate buy-down credit?
• Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.