240 Ash St · Conway, AR 72034

$157,500

4 bd · 2.0 ba · 1,320 sqft · Other public records · 94 Days on market

Built 1937 4,356 sqft lot

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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 +21.4/30.0
• ARV discount +7.5/15.0
• DSCR +6.8/10.0
• 1% rule +4.9/10.0
• Schools +3.8/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks

Old Conway Duplex!! So close to UCA and CBC! Each unit brings in $725 monthly. Long term tenants, in a great area! Great investment property! 1 bed and 1 bath in each unit.

Key facts

• 4,356 sq ft lot
• Built 1937
• Listed 94 days

Property features AI

Finance

• Other: Two rental units with tenant-paid utilities; Expenses included for owner: taxes and insurance; Minimum rent for 1-bedroom units listed at $725
• Financial info: Potential financing: Conventional loan or cash; Yearly lease type (for rentals); Annual taxes noted

Exterior

• Parking: Carport
• Utilities: Public sewer; Public water; Electric through cooperative; Natural gas
• Home design: Multifamily property (zoned MF)
• Construction: Frame exterior; Composition roof; Crawl space foundation
• Exterior features: Level lot; Paved road access; Inside city limits; Tax-recorded square footage and acreage

Interior

• Kitchen: Free-standing stove
• Bedrooms: Two 1-bedroom units
• Flooring: Partial carpet; Laminate
• Heating & cooling: Central electric heat; Central electric cooling
• Interior features: Partial carpet and laminate flooring; Free-standing stove

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $158k.

Deal economics

• At list price, monthly cash flow is $233 ($3k/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 $156k (0.9% below list).
• Recommended offer: $143k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 4.0% 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.

Location & tenants

• Location reads 69/100 on livability (#71 in AR) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B; 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.
• Market conditions: Rents soft (-0.3%/yr); 262 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 865 units permitted in Faulkner County in 2024 (451 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.
• Faulkner County population projected at +32% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 94 days — a 9% lower offer ($143k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 3y 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.

Risks & watch-outs

• Watch-outs: built in 1937 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $143,325 (9.0% below list)

Questions for the listing agent

1. It's been on market 94 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1937 — 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 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?
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: 0.99% ✗
• Cap rate: 8.07%
• Cash-on-cash: 6.35%
• DSCR: 1.28
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -9.8%
• Equity multiple: 0.65×
• Total profit: $-15,275
• Equity at exit: $23,484

10-year hold

• IRR: -4.7%
• Equity multiple: 0.73×
• Total profit: $-11,983
• Equity at exit: $13,618

Cash invested: $44,100 (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 72034

• Rents YoY: -0.3%
• Active inventory: 262
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,561 high
• Mortgage (P&I): −$826
• Tax from tax record: −$109 /mo · $1,304/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$328
• Net cashflow: $233

Break-even live

Break-even rent $1,266

Max offer price $157,500

Occupancy floor 80%

Sensitivity live

Price	-10% $322	-5% $278	+0% $233	+5% $189	+10% $144
Rent	-10% $110	-5% $172	+0% $233	+5% $295	+10% $357
Rate	-1.0pp $313	-0.5pp $273	base $233	+0.5pp $192	+1.0pp $151

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: $39,375
• Closing costs: $4,725
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
235 Oliver St Conway, AR	3.0	2.0	1414	$1,450	$1.03	24d	1	0.28mi
1410 Robins St #4 Conway, AR	3.0	2.0	1288	$1,150	$0.89	24d	1	0.32mi
513 3rd St Conway, AR	3.0	2.0	1428	$1,250	$0.88	24d	1	0.90mi
835 S Donaghey Ave Conway, AR	1.0–3.0	1.0–2.0	1006	$1,299	$1.29	15d	9	1.07mi
1305 Clifton St Conway, AR	3.0	1.0	1215	$985	$0.81	15d	1	1.10mi
1404 Donaghey Ave Conway, AR	3.0	1.0	1056	$1,125	$1.07	15d	1	1.25mi
2004 Hairston St Conway, AR	3.0	2.0	1703	$2,650	$1.56	24d	1	1.30mi
2730 Dave Ward Dr Conway, AR	2.0–4.0	2.0–4.0	1302	$1,450	$1.11	15d	3	1.34mi
1280 Pyramid Dr Conway, AR	3.0	2.0	1260	$1,300	$1.03	24d	1	1.47mi

Listing history 37 events

1. 2026-06-18
   days on market $157,500 Active 94 DOM
2. 2026-06-17
   days on market $157,500 Active 93 DOM
3. 2026-06-16
   days on market $157,500 Active 92 DOM
4. 2026-06-15
   days on market $157,500 Active 91 DOM
5. 2026-06-14
   statusdays on market $157,500 Active 89 DOM
6. 2026-06-10
   days on market $157,500 Price Change 86 DOM
7. 2026-06-09
   days on market $157,500 Price Change 85 DOM
8. 2026-06-08
   days on market $157,500 Price Change 84 DOM
9. 2026-06-07
   pricestatusdays on market $157,500 Price Change 83 DOM
10. 2026-06-03
    days on market $162,500 Active 79 DOM
11. 2026-06-02
    days on market $162,500 Active 78 DOM
12. 2026-06-01
    days on market $162,500 Active 77 DOM
13. 2026-05-31
    days on market $162,500 Active 76 DOM
14. 2026-05-31
    days on market $162,500 Active 75 DOM
15. 2026-03-16
    listed $162,500 New Listing
16. 2025-08-07
    historical
17. 2025-07-11
    status Back on Market
18. 2025-07-01
    historical
19. 2025-06-04
    price $165,900
20. 2025-06-04
    status Price Change
21. 2025-06-03
    historical
22. 2025-05-20
    price $169,900
23. 2025-05-16
    price $172,000
24. 2025-05-15
    status Price Change
25. 2025-05-03
    historical
26. 2025-04-30
    price $174,000
27. 2025-04-17
    price $185,000
28. 2025-04-02
    listed $189,999 New Listing
29. 2025-04-02
    historical
30. 2025-03-21
    price $192,500
31. 2025-03-01
    price $195,000
32. 2025-02-18
    price $205,000
33. 2025-02-04
    listed $210,000 New Listing
34. 2023-09-28
    soldstatus $149,000 Sold
35. 2023-08-31
    status Under Contract
36. 2023-08-24
    listed $149,000 New Listing
37. 1999-12-29
    soldstatus $37,000

ⓘ 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: $1,304 · $109/mo
• Projected year-2 tax: $1,304 · $109/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥111°F today · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 8% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,737
• − Mortgage interest: −$8,822
• − Property taxes: −$1,304
• − Insurance: −$788
• − Repairs & maintenance: −$1,499
• − Management: −$1,499
• − Depreciation: −$4,582
• Taxable income: $242
• Est. tax owed @ 24.0%: −$58
• After-tax cash flow: $2,740/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: Conway School District
• NCES district ID: 0504590
• Math proficiency: 43% ▼ -17.00%
• Reading proficiency: 47% ▼ -9.00%
• Median HH income: $46,270
• Composite: 38.27/100
• National rank: #4236
• State rank: #36 of 238 in AR

Livability — Conway

• Score: 69/100
• State rank: #71
• US rank: #8673

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Conway, AR
• County: Faulkner County · 103,634 people
• City population: 84,754
• Metro: Little Rock-North Little Rock-Conway, AR
• Population (ZIP): 50,285
• Household income: $65,635
• Rent vs Own: 52.4% rent · 47.6% own
• Severe rent burden: 2282.0

Population outlook (Faulkner County) Hauer SSP2

• Today (2025): 138,985 people
• By 2030: 148,264 · +6.7%
• By 2040: 166,010 · +19.4%
• By 2050: 183,362 · +31.9%
• By 2075: 224,593 · +61.6%
• By 2100: 250,603 · +80.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Black 17% Hispanic / Latino 5% Two or more races 5% Asian 2%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 1%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 94% English-only · Spanish 3% Korean 1%

Political lean MEDSL · Faulkner

• 2024 margin: Solid R (+32.3) · D 32.6% · R 64.9% · Other 2.5%
• 2008→2024 swing: -7.1pp toward R · 2008: -25.3pp · 2024: -32.3pp
• All cycles: 2024: R+32.3 2020: R+29.5 2016: R+31.6 2012: R+31.7 2008: R+25.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -122.99%
• Current HPI: 225.7805
• Rent YoY: ▼ -0.28%
• Metro: Little Rock-North Little Rock-Conway, AR
• 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

+339.2% since first listed

23 events — show timeline

• 2026-03-16 Listed $162,500 CARMLS
• 2025-08-07 Listing Removed — CARMLS
• 2025-07-11 Relisted — CARMLS
• 2025-07-01 Listing Removed — CARMLS
• 2025-06-04 Price Changed $165,900 CARMLS
• 2025-06-04 Relisted — CARMLS
• 2025-06-03 Listing Removed — CARMLS
• 2025-05-20 Price Changed $169,900 CARMLS
• 2025-05-16 Price Changed $172,000 CARMLS
• 2025-05-15 Relisted — CARMLS
• 2025-05-03 Listing Removed — CARMLS
• 2025-04-30 Price Changed $174,000 CARMLS
• 2025-04-17 Price Changed $185,000 CARMLS
• 2025-04-02 Listing Removed — CARMLS
• 2025-04-02 Listed $189,999 CARMLS
• 2025-03-21 Price Changed $192,500 CARMLS
• 2025-03-01 Price Changed $195,000 CARMLS
• 2025-02-18 Price Changed $205,000 CARMLS
• 2025-02-04 Listed $210,000 CARMLS
• 2023-09-28 Sold (MLS) $149,000 CARMLS
• 2023-08-31 Pending — CARMLS
• 2023-08-24 Listed $149,000 CARMLS
• 1999-12-29 Sold (Public Records) $37,000 Public Records

Property tax history

+11.0%/yr

Latest (2025): $1,304 · +0.0% YoY. Source: county tax records.