470 Moonlight Graham Blvd

Ward, AR 72176

$240,000D+

5 bd · 2.5 ba · 1,892 sqft · Built 2026 · SingleFamily · Active · 76 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,775/mo
• Mortgage (P&I): −$1,259
• Tax + insurance: −$400
• HOA: −$25
• Vac / Maint / Mgmt: −$373
• Net cashflow: $-282/mo
• Annual: $-3,380/yr
• Cap rate: 4.88%
• Cash-on-cash: -5.03%
• DSCR: 0.78
• 1% rule: 0.74%
• Cash to close: $67,200

Investor read

• This is a 5-bed/2.5-bath single-family listed at $240k. Condition is rated good.
• At list price, monthly cash flow is $-282 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $199k (17.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $177k (26.1% below list).
• It's been on market 76 days — a 6% lower offer ($226k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $177k (26.1% below list) — sets the bar for 1% rule.
• In year one you build about $15k of equity ($2k loan paydown + $13k appreciation (5.3% local appreciation)).
• Location reads 69/100 on livability (#66 in AR) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: amenities F, commute F.
• Cabot School District (suburban): math 48% / reading 43% proficiency, ranked #29 of 238 in AR (top 12%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Ward Central Elementary (math 57% / reading 42%, grade D, #93 of 454 statewide, top 23%, 494 students, 62% FRL); Cabot Middle School North (math 52% / reading 41%, grade D+, #49 of 201 statewide, top 26%, 907 students, 42% FRL); Cabot High School (math 29% / reading 45%, grade F, #64 of 292 statewide, top 26%, 2,198 students, 36% FRL) — zoned schools average 47% FRL vs 30% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 156 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 185 units permitted in Lonoke County in 2024 (0 in 5+ unit buildings).
• Lonoke County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 3, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: 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.
• This rent runs 31% of the median local income ($69k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 76 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.
• 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.
• 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.