958 Pickens Chapel · Letona, AR 72143

$55,000

2 bd · 2.0 ba · 1,064 sqft · Land · 64 Days on market

Built 1979 2.07 ac lot ↓ 21% since listing

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.8/10.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

A little piece of paradise with a year around swimming hole on the back of the property (Panther Creek). Gotta see it to believe it! Storage buildings! Extra RV hook-up! Deer and wild life in your own front yard!

Key facts

• Creek in the back
• Wooded for privacy
• 2.07 acre lot

Tags

• WOODED FOR PRIVACY
• CREEK IN THE BACK

Property features AI

Finance

• Financial info: Financing available: conventional new loan, cash, or in‑house financing

Exterior

• Parking: Other parking (see remarks)
• Utilities: Public water; Septic system; Electric via cooperative
• Home design: Other exterior (see remarks)
• Construction: Metal roof; Foundation not permanent; Other foundation (see remarks); Approximately 2.07 acres; Lot dimensions approximately 660 x 135 x 673 x 129; Lot acreage source: survey
• Exterior features: Level lot with creek; Rural property

Interior

• Kitchen: Free‑standing stove; Microwave; Dishwasher
• Flooring: Carpet; Other (see remarks)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central electric heat; Central electric cooling
• Interior features: Carpet flooring; Other flooring (see remarks); Laundry room
• Laundry & utility: Laundry area

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath land listed at $55k.

Deal economics

• At list price, monthly cash flow is $296 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($946 rent vs $55k).
• Recommended offer: $52k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 54/100 on livability (#416 in AR) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Searcy School District (town): math 47% / reading 43% proficiency, ranked #37 of 238 in AR (top 16%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mcrae Elementary School (math 52% / reading 37%, grade F, #143 of 454 statewide, top 36%, 422 students, 58% FRL); Southwest Middle School (math 51% / reading 42%, grade D+, #49 of 201 statewide, top 26%, 910 students, 50% FRL); Searcy High School (math 30% / reading 42%, grade F, #81 of 292 statewide, top 29%, 1,166 students, 39% FRL).
• Market conditions: 176 active listings in the ZIP; 219 units permitted in White County in 2024 (36 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• White County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($52k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 17y 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 $22k; list at $55k implies a 144% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); moderate wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $51,700 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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?
8. 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.
9. 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.
10. 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: 1.72% ✓
• Cap rate: 15.49%
• Cash-on-cash: 32.85%
• DSCR: 2.46
• GRM: 4.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 16.2%
• Equity multiple: 1.65×
• Total profit: $10,017
• Equity at exit: $8,201

10-year hold

• IRR: 24.8%
• Equity multiple: 3.16×
• Total profit: $33,258
• Equity at exit: $4,755

Cash invested: $15,400 (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 72143

• Home prices YoY: -28.4%
• Active inventory: 176
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $946 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$14 /mo · $172/yr
• Insurance: −$23
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$199
• Net cashflow: $296

Break-even live

Break-even rent $571

Max offer price $55,000

Occupancy floor 64%

Sensitivity live

Price	-10% $327	-5% $312	+0% $296	+5% $281	+10% $265
Rent	-10% $222	-5% $259	+0% $296	+5% $334	+10% $371
Rate	-1.0pp $324	-0.5pp $310	base $296	+0.5pp $282	+1.0pp $268

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-22
   days on market $55,000 Active 64 DOM
2. 2026-06-21
   days on market $55,000 Active 63 DOM
3. 2026-06-19
   days on market $55,000 Active 61 DOM
4. 2026-06-18
   days on market $55,000 Active 60 DOM
5. 2026-06-17
   days on market $55,000 Active 59 DOM
6. 2026-06-16
   days on market $55,000 Active 58 DOM
7. 2026-06-15
   days on market $55,000 Active 57 DOM
8. 2026-06-14
   days on market $55,000 Active 55 DOM
9. 2026-06-12
   days on market $55,000 Active 54 DOM
10. 2026-06-09
    statusdays on market $55,000 Active 51 DOM
11. 2026-06-08
    days on market $55,000 Back on Market 50 DOM
12. 2026-06-07
    days on market $55,000 Back on Market 49 DOM
13. 2026-06-05
    days on market $55,000 Back on Market 46 DOM
14. 2026-06-03
    days on market $55,000 Back on Market 45 DOM
15. 2026-06-03
    status $55,000 Back on Market 44 DOM
16. 2026-06-02
    days on market $55,000 Take Backups 44 DOM
17. 2026-06-01
    days on market $55,000 Take Backups 43 DOM
18. 2026-05-31
    days on market $55,000 Take Backups 42 DOM
19. 2026-05-30
    days on market $55,000 Take Backups 41 DOM
20. 2026-05-11
    historical Take Backups 381-char remark
21. 2026-04-19
    listed $55,000 New Listing 381-char remark
22. 2025-09-30
    soldstatus $22,500
23. 2015-01-29
    soldstatus $15,000
24. 2010-07-13
    soldstatus $65,000
25. 2010-07-09
    soldstatus $65,000 213-char remark

    Show marketing remark (213 chars)

    A little piece of paradise with a year around swimming hole on the back of the property (Panther Creek). Gotta see it to believe it! Storage buildings! Extra RV hook-up! Deer and wild life in your own front yard!

26. 2010-06-29
    historical 213-char remark

    Show marketing remark (213 chars)

    A little piece of paradise with a year around swimming hole on the back of the property (Panther Creek). Gotta see it to believe it! Storage buildings! Extra RV hook-up! Deer and wild life in your own front yard!

27. 2009-10-20
    listed $69,900 213-char remark

    Show marketing remark (213 chars)

    A little piece of paradise with a year around swimming hole on the back of the property (Panther Creek). Gotta see it to believe it! Storage buildings! Extra RV hook-up! Deer and wild life in your own front yard!

ⓘ 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: $172 · $14/mo
• Projected year-2 tax: $352 · $29/mo
• Expected delta: +$180/yr (+$15/mo · 104.1%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone A · 72% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥111°F today · 19 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 7% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,350
• − Mortgage interest: −$3,081
• − Property taxes: −$172
• − Insurance: −$1,778
• − Repairs & maintenance: −$908
• − Management: −$908
• − Depreciation: −$1,600
• Taxable income: $2,903
• Est. tax owed @ 24.0%: −$697
• After-tax cash flow: $2,859/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: Searcy School District
• NCES district ID: 0512210
• Math proficiency: 47% ▼ -11.00%
• Reading proficiency: 43% ▼ -10.00%
• Median HH income: $44,318
• Composite: 38.12/100
• National rank: #4272
• State rank: #37 of 238 in AR

Livability — Letona

• Score: 54/100
• State rank: #416
• US rank: #23767

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: White County · 35,000 people
• City population: 199
• Metro: Searcy, AR
• Population (ZIP): 35,000
• Household income: $58,344
• Rent vs Own: 35.0% rent · 65.0% own
• Severe rent burden: 804.0

Population outlook (White County) Hauer SSP2

• Today (2025): 82,310 people
• By 2030: 83,861 · +1.9%
• By 2040: 86,492 · +5.1%
• By 2050: 88,246 · +7.2%
• By 2075: 91,307 · +10.9%
• By 2100: 91,548 · +11.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Black 7% Hispanic / Latino 6% Two or more races 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 2% Slovak 1% Serbian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 4%

Political lean MEDSL · White

• 2024 margin: Solid R (+61.2) · D 18.3% · R 79.5% · Other 2.2%
• 2008→2024 swing: -14.0pp toward R · 2008: -47.2pp · 2024: -61.2pp
• All cycles: 2024: R+61.2 2020: R+58.9 2016: R+57.9 2012: R+53.7 2008: R+47.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -81.60%
• Current HPI: 206.0334
• Rent YoY: —
• Metro: Searcy, 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

-21.3% since first listed

9 events — show timeline

• 2026-06-02 Relisted — CARMLS
• 2026-05-11 Contingent — CARMLS
• 2026-04-19 Listed $55,000 CARMLS
• 2025-09-30 Sold (Public Records) $22,500 Public Records
• 2015-01-29 Sold (Public Records) $15,000 Public Records
• 2010-07-13 Sold (Public Records) $65,000 Public Records
• 2010-07-09 Sold (MLS) $65,000 CARMLS
• 2010-06-29 Listing Removed — CARMLS
• 2009-10-20 Listed $69,900 CARMLS

Property tax history

+7.9%/yr

Latest (2025): $172 · +20.7% YoY. Source: county tax records.