3505 Lexee Dr · Jonesboro, AR 72404

$190,000

3 bd · 2.0 ba · 1,635 sqft · SingleFamily public records · 97 Days on market

Built 2005 6,970 sqft lot $116/sqft · at area comps Est $194k · at est.

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +8.3/15.0
• DSCR +4.6/10.0
• 1% rule +3.5/10.0
• Livability +3.2/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Are you a Long-Term Planner or Investor? This 3 Bed, 2 Bath, 2 car garage house has a New HVAC and LVP flooring! It is Tenant occupied until October 31, 2026. There is a fenced in back yard. Appliances convey. Seller would like to sell AS-IS and is offering a $3500 Seller Credit in lieu of any repairs. Contact your favorite realtor to see inside!

Key facts

• 6,970 sq ft lot
• 2 garage spots
• Built 2005

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $59 ($706/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 $162k (14.7% below list).
• Recommended offer: $162k (14.7% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 4.4% in Jonesboro — 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 65/100 on livability (#145 in AR) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Nettleton School District (urban): math 21% / reading 24% proficiency, ranked #199 of 238 in AR (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Nettleton Junior High School (math 21% / reading 31%, grade F, #159 of 201 statewide, top 80%, 546 students, 100% FRL); Nettleton High School (math 11% / reading 27%, grade F, #248 of 292 statewide, top 86%, 981 students, 68% FRL) — zoned schools average 84% FRL vs 56% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 309 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 926 units permitted in Craighead County in 2024 (69 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 $6k of value loss. Plan a longer hold.
• Craighead County population projected at +38% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($173k) is reasonable based on typical stale-listing flexibility.
• 4 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.
• Current owner paid $160k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $162,106 (14.7% below list)

Questions for the listing agent

1. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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?
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: 0.85% ✗
• Cap rate: 6.66%
• Cash-on-cash: 1.33%
• DSCR: 1.06
• GRM: 9.8

CMA / ARV

• ARV (median comp): $193,615
• List price: $190,000
• Delta: -1.87%
• 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
3712 Lexee Dr	0.20mi	3/2.0	1,687 (+3%)	6mo	$203,000	$120	80
4730 Lonoke Ln	0.41mi	3/2.0	1,623 (-1%)	1mo	$231,700	$143	79
4716 Copley Dr	0.31mi	4/2.0 (+1)	1,613 (-1%)	6mo	$208,000	$129	73
4724 Copley Dr	0.34mi	4/2.0 (+1)	1,613 (-1%)	6mo	$215,650	$134	72
4733 Bosworth St	0.31mi	4/2.0 (+1)	1,699 (+4%)	5mo	$204,785	$121	70
4728 Revere St	0.29mi	3/2.0	1,446 (-12%)	4mo	$196,500	$136	64
4712 Copley Dr	0.31mi	3/2.0	1,446 (-12%)	5mo	$199,250	$138	63
4708 Copley Dr	0.29mi	4/2.0 (+1)	1,496 (-8%)	6mo	$209,700	$140	62
3829 Keeneland Dr	0.70mi	3/2.0	1,609 (-2%)	6mo	$182,000	$113	60
4732 Copley Dr	0.35mi	4/2.0 (+1)	1,852 (+13%)	5mo	$229,075	$124	52
3825 Keeneland Dr	0.71mi	3/2.0	1,491 (-9%)	5mo	$197,500	$132	48
3808 Churchill Dr	0.74mi	4/2.0 (+1)	1,514 (-7%)	5mo	$190,000	$125	44

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 · 0.74% rent growth · sell at horizon

5-year hold

• IRR: -16.6%
• Equity multiple: 0.42×
• Total profit: $-30,676
• Equity at exit: $28,330

10-year hold

• IRR: -12.8%
• Equity multiple: 0.32×
• Total profit: $-36,151
• Equity at exit: $16,428

Cash invested: $53,200 (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 72404

• Home prices YoY: -14.5%
• Rents YoY: 0.7%
• Active inventory: 309
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,621 high
• Mortgage (P&I): −$996
• Tax from tax record: −$146 /mo · $1,755/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $59

Break-even live

Break-even rent $1,547

Max offer price $190,000

Occupancy floor 91%

Sensitivity live

Price	-10% $166	-5% $113	+0% $59	+5% $5	+10% $-49
Rent	-10% $-69	-5% $-5	+0% $59	+5% $123	+10% $187
Rate	-1.0pp $155	-0.5pp $107	base $59	+0.5pp $10	+1.0pp $-40

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4619 Jeri Cv Jonesboro, AR	3.0	2.0	1412	$1,495	$1.06	45d	1	0.12mi
3840 Travers Ln Jonesboro, AR	3.0	2.0	1243	$1,525	$1.23	45d	1	0.69mi
3817 Keeneland Dr Jonesboro, AR	3.0	2.0	1355	$1,525	$1.13	45d	1	0.73mi
3809 Travers Ln Jonesboro, AR	3.0	2.0	1243	$1,550	$1.25	45d	1	0.77mi
3717 Glitterman Dr Jonesboro, AR	4.0	2.0	1544	$1,595	$1.03	45d	1	0.81mi
3622 Hargis Dr Jonesboro, AR	3.0	2.0	1143	$1,495	$1.31	45d	1	0.82mi
3719 Stadium Blvd Unit J10 Jonesboro, AR	2.0	1.0	1100	$1,144	$1.04	45d	1	0.89mi
3719 Stadium Blvd Unit E20 Jonesboro, AR	3.0	2.0	1350	$1,294	$0.96	45d	1	0.93mi
6 Willow Creek Ln Jonesboro, AR	1.0–3.0	1.0–2.0	925	$1,458	$1.58	45d	24	1.17mi

Listing history 28 events

1. 2026-06-21
   days on market $190,000 Active 97 DOM
2. 2026-06-19
   days on market $190,000 Active 95 DOM
3. 2026-06-18
   days on market $190,000 Active 94 DOM
4. 2026-06-17
   days on market $190,000 Active 93 DOM
5. 2026-06-16
   days on market $190,000 Active 92 DOM
6. 2026-06-15
   days on market $190,000 Active 91 DOM
7. 2026-06-14
   days on market $190,000 Active 89 DOM
8. 2026-06-13
   days on market $190,000 Active 88 DOM
9. 2026-06-10
   days on market $190,000 Active 86 DOM
10. 2026-06-09
    days on market $190,000 Active 85 DOM
11. 2026-06-08
    days on market $190,000 Active 84 DOM
12. 2026-06-07
    days on market $190,000 Active 83 DOM
13. 2026-06-05
    days on market $190,000 Active 80 DOM
14. 2026-06-03
    days on market $190,000 Active 79 DOM
15. 2026-06-02
    days on market $190,000 Active 78 DOM
16. 2026-06-01
    days on market $190,000 Active 77 DOM
17. 2026-05-31
    days on market $190,000 Active 76 DOM
18. 2026-05-30
    days on market $190,000 Active 75 DOM
19. 2026-03-31
    status Active 348-char remark

    Show marketing remark (348 chars)

    Are you a Long-Term Planner or Investor? This 3 Bed, 2 Bath, 2 car garage house has a New HVAC and LVP flooring! It is Tenant occupied until October 31, 2026. There is a fenced in back yard. Appliances convey. Seller would like to sell AS-IS and is offering a $3500 Seller Credit in lieu of any repairs. Contact your favorite realtor to see inside!

20. 2026-03-18
    historical 348-char remark

    Show marketing remark (348 chars)

    Are you a Long-Term Planner or Investor? This 3 Bed, 2 Bath, 2 car garage house has a New HVAC and LVP flooring! It is Tenant occupied until October 31, 2026. There is a fenced in back yard. Appliances convey. Seller would like to sell AS-IS and is offering a $3500 Seller Credit in lieu of any repairs. Contact your favorite realtor to see inside!

21. 2026-03-03
    listed $190,000 Active 348-char remark

    Show marketing remark (348 chars)

    Are you a Long-Term Planner or Investor? This 3 Bed, 2 Bath, 2 car garage house has a New HVAC and LVP flooring! It is Tenant occupied until October 31, 2026. There is a fenced in back yard. Appliances convey. Seller would like to sell AS-IS and is offering a $3500 Seller Credit in lieu of any repairs. Contact your favorite realtor to see inside!

22. 2024-10-17
    historical $1,495
23. 2024-10-07
    listed $1,495
24. 2024-01-11
    soldstatus $160,000 Closed 703-char remark

    Show marketing remark (703 chars)

    Welcome to this hidden gem nestled in the heart of Jonesboro! This 3 bedroom, 2 bathroom home offers a fantastic opportunity for those seeking a project to transform a house into their dream home. Located in a peaceful neighborhood, this property combines convenience with potential, making it a fantastic investment. Investors, DIY enthusiasts, and those with a vision will appreciate the potential this house holds. Bring your creativity and turn this property into a masterpiece that reflects your lifestyle. Don't miss out on this incredible opportunity to own a 3 bedroom, 2 bathroom house with the chance to add your personal touch. Schedule a viewing today and unlock the hidden potential within!

25. 2023-11-06
    price $182,500 703-char remark

    Show marketing remark (703 chars)

    Welcome to this hidden gem nestled in the heart of Jonesboro! This 3 bedroom, 2 bathroom home offers a fantastic opportunity for those seeking a project to transform a house into their dream home. Located in a peaceful neighborhood, this property combines convenience with potential, making it a fantastic investment. Investors, DIY enthusiasts, and those with a vision will appreciate the potential this house holds. Bring your creativity and turn this property into a masterpiece that reflects your lifestyle. Don't miss out on this incredible opportunity to own a 3 bedroom, 2 bathroom house with the chance to add your personal touch. Schedule a viewing today and unlock the hidden potential within!

26. 2023-08-24
    listed $192,500 Active 703-char remark

    Show marketing remark (703 chars)

    Welcome to this hidden gem nestled in the heart of Jonesboro! This 3 bedroom, 2 bathroom home offers a fantastic opportunity for those seeking a project to transform a house into their dream home. Located in a peaceful neighborhood, this property combines convenience with potential, making it a fantastic investment. Investors, DIY enthusiasts, and those with a vision will appreciate the potential this house holds. Bring your creativity and turn this property into a masterpiece that reflects your lifestyle. Don't miss out on this incredible opportunity to own a 3 bedroom, 2 bathroom house with the chance to add your personal touch. Schedule a viewing today and unlock the hidden potential within!

27. 2005-10-04
    soldstatus $115,000
28. 2004-12-07
    soldstatus $20,000

ⓘ 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: $1,755 · $146/mo
• Projected year-2 tax: $1,755 · $146/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 · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 9% 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: $19,453
• − Mortgage interest: −$10,643
• − Property taxes: −$1,755
• − Insurance: −$950
• − Repairs & maintenance: −$1,556
• − Management: −$1,556
• − Depreciation: −$5,527
• Taxable loss: −$2,535
• Est. tax savings @ 24.0%: +$608
• After-tax cash flow: $1,315/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: Nettleton School District
• NCES district ID: 0510440
• Math proficiency: 21% ▼ -16.00%
• Reading proficiency: 24% ▼ -12.00%
• Median HH income: $39,754
• Composite: 19.0/100
• National rank: #8846
• State rank: #199 of 238 in AR

Livability — Jonesboro

• Score: 65/100
• State rank: #145
• US rank: #12692

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Jonesboro, AR
• County: Craighead County · 97,185 people
• City population: 91,245
• Metro: Jonesboro, AR
• Population (ZIP): 29,968
• Household income: $70,269
• Rent vs Own: 36.3% rent · 63.7% own
• Severe rent burden: 869.0

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 (72%)
• Race & ethnicity: White 72% Black 18% Two or more races 5% Hispanic / Latino 4% Asian 2%
• Common ancestry: Slovak 3% Lithuanian 1% Italian 1%
• Foreign-born: 5% · Canada, China, South Korea
• Languages at home: 95% English-only · Spanish 3% Chinese 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: ▼ -35.22%
• Current HPI: 208.3772
• Rent YoY: ▲ 0.74%
• Metro: Jonesboro, 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

+850.0% since first listed

10 events — show timeline

• 2026-03-31 Relisted — NEABOR MLS
• 2026-03-18 Delisted — NEABOR MLS
• 2026-03-03 Listed $190,000 NEABOR MLS
• 2024-10-17 Rental Removed $1,495 SHOWMOJO
• 2024-10-07 Listed for Rent $1,495 SHOWMOJO
• 2024-01-11 Sold (MLS) $160,000 NEABOR MLS
• 2023-11-06 Price Changed $182,500 NEABOR MLS
• 2023-08-24 Listed $192,500 NEABOR MLS
• 2005-10-04 Sold (Public Records) $115,000 Public Records
• 2004-12-07 Sold (Public Records) $20,000 Public Records

Property tax history

+5.1%/yr

Latest (2025): $1,755 · +77.4% YoY. Source: county tax records.