604 Greenwood Ave

Camden, AR 71701

$8,500D

2 bd · 1.0 ba · 816 sqft · Built 1940 · SingleFamily · Under Contract · 83 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,400/mo
• Mortgage (P&I): −$45
• Tax + insurance: −$9
• HOA: −$0
• Vac / Maint / Mgmt: −$294
• Net cashflow: $1,053/mo
• Annual: $12,630/yr
• Cap rate: 154.88%
• Cash-on-cash: 530.68%
• DSCR: 24.61
• 1% rule: 16.47%
• Cash to close: $2,380

Investor read

• This is a 2-bed/1.0-bath single-family listed at $8k.
• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $8k).
• It's been on market 83 days — a 6% lower offer ($8k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $8k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $59 of loan paydown is wiped out by about $255 of value loss. Plan a longer hold.
• Location reads 57/100 on livability (#364 in AR) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Camden Fairview School District (town): math 9% / reading 15% proficiency, ranked #229 of 238 in AR (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Fairview Elementary School (591 students, 100% FRL); Camden Fairview Middle School (math 7% / reading 19%, grade F, #188 of 201 statewide, top 94%, 519 students, 99% FRL); Camden Fairview High School (math 4% / reading 17%, grade F, #271 of 292 statewide, top 93%, 704 students, 100% FRL) — zoned schools average 100% FRL vs 68% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 133 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 18 units permitted in Ouachita County in 2024 (0 in 5+ unit buildings).
• Ouachita County population projected at -33% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 5 sale attempts since 2y ago; this cycle's ask has dropped $1k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $2k cash investment doubles in ~1 year — after that, you're playing with house money.
• Cap rate 154.9% vs local median 5.2% in Camden — 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.

Questions for listing agent

• It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.