223 W Oliver St · West Memphis, AR 72301

$159,000

4 bd · 1.0 ba · 1,564 sqft · SingleFamily public records · 231 Days on market

Built 1941 10,018 sqft lot $102/sqft · 8% below area Est $174k · 8% under ↓ 3% since listing

---

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 +23.9/30.0
• ARV discount +11.3/15.0
• DSCR +7.7/10.0
• 1% rule +5.0/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 4-Bedroom, 2-Bath Home in the Heart of Town This adorable home features fresh paint and new flooring throughout, giving it a bright and updated feel. With four spacious bedrooms and two full bathrooms, there's plenty of room for family or guests. Conveniently located in the middle of town, you'll be close to shops, schools, and parks. Perfect as a starter home or for anyone looking for comfort and convenience!

Key facts

• 0.23 acre lot
• Built 1941
• Listed 231 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $159k.

Deal economics

• At list price, monthly cash flow is $308 ($4k/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 $158k (0.5% below list).
• Recommended offer: $140k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 7.0% in West Memphis — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 55/100 on livability (#413 in AR) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: schools D-, crime F, amenities F.
• West Memphis School District (suburban): math 16% / reading 15% proficiency, ranked #224 of 238 in AR (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 96% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 133 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 69 units permitted in Crittenden County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Crittenden County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 231 days — a 12% lower offer ($140k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $139,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 231 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.00% ✗
• Cap rate: 8.62%
• Cash-on-cash: 8.29%
• DSCR: 1.37
• GRM: 8.4

CMA / ARV

• ARV (median comp): $173,597
• List price: $159,000
• Delta: -8.41%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
123 W Danner Ave	0.18mi	3/1.0 (-1)	1,425 (-9%)	1mo	$115,000	$81	71
618 S Roselawn	0.68mi	3/2.0 (-1)	1,537 (-2%)	0mo	$140,000	$91	56
424 N Roselawn Dr	0.74mi	4/2.0	1,554 (-1%)	9mo	$185,000	$119	53
126 W Cooper Ave	0.19mi	3/2.0 (-1)	1,372 (-12%)	12mo	$183,000	$133	51
128 Ross Ave	0.43mi	3/2.0 (-1)	1,486 (-5%)	14mo	$194,900	$131	51
508 Oxford St	0.72mi	4/2.0	1,484 (-5%)	5mo	$170,000	$115	50
232 Ross Rd	0.44mi	3/2.0 (-1)	1,775 (+14%)	5mo	$177,500	$100	43
228 Ross Rd	0.45mi	3/1.0 (-1)	1,375 (-12%)	14mo	$82,900	$60	42
510 Auburn Ave	0.62mi	3/2.0 (-1)	1,439 (-8%)	12mo	$45,500	$32	39
213 S Worthington Dr	0.57mi	3/2.0 (-1)	1,375 (-12%)	6mo	$169,900	$124	39
502 W Barton Ave	0.47mi	3/2.0 (-1)	1,766 (+13%)	12mo	$200,000	$113	38
519 S Roselawn Dr	0.69mi	3/1.5 (-1)	1,780 (+14%)	8mo	$100,000	$56	31

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

Projected returns pro-forma

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

5-year hold

• IRR: -3.7%
• Equity multiple: 0.86×
• Total profit: $-6,241
• Equity at exit: $23,707

10-year hold

• IRR: 5.9%
• Equity multiple: 1.44×
• Total profit: $19,506
• Equity at exit: $13,747

Cash invested: $44,520 (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 72301

• Active inventory: 133
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,583 medium
• Mortgage (P&I): −$834
• Tax from tax record: −$43 /mo · $511/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $308

Break-even live

Break-even rent $1,193

Max offer price $159,000

Occupancy floor 76%

Sensitivity live

Price	-10% $398	-5% $353	+0% $308	+5% $263	+10% $218
Rent	-10% $183	-5% $245	+0% $308	+5% $370	+10% $433
Rate	-1.0pp $388	-0.5pp $348	base $308	+0.5pp $266	+1.0pp $225

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
905 Maple Dr West Memphis, AR	4.0	2.0	1176	$1,495	$1.27	24d	1	1.07mi
905 Maple Dr West Memphis, AR	4.0	2.0	1176	$1,699	$1.44	2d	1	1.07mi
1398 E Barton Ave West Memphis, AR	3.0	2.0	1250	$1,550	$1.24	11d	1	1.30mi

Listing history 16 events

1. 2026-06-18
   days on market $159,000 Active 231 DOM
2. 2026-06-17
   days on market $159,000 Active 230 DOM
3. 2026-06-16
   days on market $159,000 Active 229 DOM
4. 2026-06-16
   price $159,000 Active 228 DOM
5. 2026-06-15
   days on market $179,000 Active 228 DOM
6. 2026-06-13
   days on market $179,000 Active 226 DOM
7. 2026-06-10
   days on market $179,000 Active 223 DOM
8. 2026-06-09
   days on market $179,000 Active 222 DOM
9. 2026-06-08
   days on market $179,000 Active 221 DOM
10. 2026-06-07
    days on market $179,000 Active 220 DOM
11. 2026-06-03
    days on market $179,000 Active 216 DOM
12. 2026-06-02
    days on market $179,000 Active 215 DOM
13. 2026-06-01
    days on market $179,000 Active 214 DOM
14. 2026-05-31
    days on market $179,000 Active 213 DOM
15. 2026-01-23
    price $179,000 422-char remark

    Show marketing remark (422 chars)

    Charming 4-Bedroom, 2-Bath Home in the Heart of Town This adorable home features fresh paint and new flooring throughout, giving it a bright and updated feel. With four spacious bedrooms and two full bathrooms, there's plenty of room for family or guests. Conveniently located in the middle of town, you'll be close to shops, schools, and parks. Perfect as a starter home or for anyone looking for comfort and convenience!

16. 2025-10-30
    listed $184,900 Active 422-char remark

    Show marketing remark (422 chars)

    Charming 4-Bedroom, 2-Bath Home in the Heart of Town This adorable home features fresh paint and new flooring throughout, giving it a bright and updated feel. With four spacious bedrooms and two full bathrooms, there's plenty of room for family or guests. Conveniently located in the middle of town, you'll be close to shops, schools, and parks. Perfect as a starter home or for anyone looking for comfort and convenience!

ⓘ 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: $511 · $43/mo
• Projected year-2 tax: $1,018 · $85/mo
• Expected delta: +$506/yr (+$42/mo · 99.0%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (shaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 14% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,993
• − Mortgage interest: −$8,906
• − Property taxes: −$511
• − Insurance: −$795
• − Repairs & maintenance: −$1,519
• − Management: −$1,519
• − Depreciation: −$4,625
• Taxable income: $1,116
• Est. tax owed @ 24.0%: −$268
• After-tax cash flow: $3,424/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: West Memphis School District
• NCES district ID: 0508040
• Math proficiency: 16% ▼ -14.00%
• Reading proficiency: 15% ▼ -14.00%
• Median HH income: $29,382
• Composite: 12.22/100
• National rank: #9647
• State rank: #224 of 238 in AR

Livability — West Memphis

• Score: 55/100
• State rank: #413
• US rank: #23638

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Memphis, AR
• City population: 24,182
• Population (ZIP): 24,182

Population outlook (Crittenden County) Hauer SSP2

• Today (2025): 45,254 people
• By 2030: 42,953 · -5.1%
• By 2040: 38,235 · -15.5%
• By 2050: 33,670 · -25.6%
• By 2075: 24,315 · -46.3%
• By 2100: 17,173 · -62.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (64%)
• Race & ethnicity: Black 64% White 29% Two or more races 6% Hispanic / Latino 2%
• Common ancestry: Serbian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Crittenden

• 2024 margin: Toss-up / Even · D 50.1% · R 47.9% · Other 2.0%
• 2008→2024 swing: -12.4pp toward R · 2008: 14.7pp · 2024: 2.3pp
• All cycles: 2024: D+2.3 2020: D+7.2 2016: D+9.0 2012: D+18.7 2008: D+14.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -143.63%
• Current HPI: 182.7665
• 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

-3.2% since first listed

2 events — show timeline

• 2026-01-23 Price Changed $179,000 EARA
• 2025-10-30 Listed $184,900 EARA

Property tax history

+0.5%/yr

Latest (2025): $511 · +9.9% YoY. Source: county tax records.