110 Highway 412 · Alpena, AR 72611

$108,000

3 bd · 1.0 ba · 1,599 sqft · SingleFamily public records · 120 Days on market

Built 1940 0.62 ac lot $68/sqft · 41% below area Est $183k · 41% under

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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 +24.0/30.0
• ARV discount +15.0/15.0
• DSCR +7.7/10.0
• Appreciation +6.4/10.0
• 1% rule +6.2/10.0
• Livability +3.1/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

3 bed 1 bath fixer upper right on 412 in the heart of Alpena! Sits on over half an acre in a desirable location!

Key facts

• Over half an acre
• 0.62 acre lot
• 2 parking spots

Tags

• OVER HALF AN ACRE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $108k.

Deal economics

• At list price, monthly cash flow is $145 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $108k).
• Recommended offer: $98k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#244 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.
• Alpena School District (rural): math 35% / reading 34% proficiency, ranked #122 of 238 in AR (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Alpena Elementary School (math 32% / reading 22%, grade F, #333 of 454 statewide, top 75%, 235 students, 65% FRL); Alpena High School (math 37% / reading 42%, grade F, #48 of 292 statewide, top 19%, 235 students, 64% FRL).
• Market conditions: 30 active listings in the ZIP; 30 units permitted in Carroll County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($747 loan paydown + $3k appreciation (2.8% local appreciation)).
• Carroll County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (2.8% appreciation + 3.0% rent growth), your $30k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 120 days — a 9% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $49k; list at $108k implies a 120% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $98,280 (9.0% below list)

Questions for the listing agent

1. It's been on market 120 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 1940 — 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 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?
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: 1.12% ✓
• Cap rate: 8.64%
• Cash-on-cash: 8.39%
• DSCR: 1.37
• GRM: 7.4

CMA / ARV

• ARV (median comp): $183,088
• List price: $108,000
• Delta: -41.01%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
301 W Hill St	0.21mi	3/2.0	1,681 (+5%)	2mo	$163,013	$97	76
392 Wpa Rd	0.68mi	3/2.0	1,600 (+0%)	14mo	$519,900	$325	53
295 Wpa Rd	0.61mi	3/2.0	1,688 (+6%)	20mo	$285,000	$169	42
410 Wpa Rd	0.72mi	3/3.0	1,800 (+13%)	8mo	$225,000	$125	30

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

2.76% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.3%
• Equity multiple: 1.69×
• Total profit: $20,939
• Equity at exit: $47,114

10-year hold

• IRR: 14.5%
• Equity multiple: 3.10×
• Total profit: $63,410
• Equity at exit: $71,503

Cash invested: $30,240 (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 72611

• Home prices YoY: 0.9%
• Active inventory: 30
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,212 medium
• Mortgage (P&I): −$566
• Tax est. 1.5%: −$135 /mo · $1,620/yr
• Insurance: −$45
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $145

Break-even live

Break-even rent $1,029

Max offer price $108,000

Occupancy floor 83%

Sensitivity live

Price	-10% $220	-5% $182	+0% $145	+5% $108	+10% $70
Rent	-10% $49	-5% $97	+0% $145	+5% $193	+10% $241
Rate	-1.0pp $199	-0.5pp $172	base $145	+0.5pp $117	+1.0pp $88

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: $27,000
• Closing costs: $3,240
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-05
   days on market $108,000 Active 120 DOM
2. 2026-06-04
   days on market $108,000 Active 118 DOM
3. 2026-06-02
   days on market $108,000 Active 117 DOM
4. 2026-06-01
   days on market $108,000 Active 116 DOM
5. 2026-05-31
   days on market $108,000 Active 115 DOM
6. 2026-05-31
   days on market $108,000 Active 114 DOM
7. 2026-02-05
   listed $108,000 Active 112-char remark

   Show marketing remark (112 chars)

   3 bed 1 bath fixer upper right on 412 in the heart of Alpena! Sits on over half an acre in a desirable location!

8. 1994-02-15
   soldstatus $49,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥103°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $14,548
• − Mortgage interest: −$6,050
• − Property taxes: −$1,620
• − Insurance: −$1,338
• − Repairs & maintenance: −$1,164
• − Management: −$1,164
• − Depreciation: −$3,142
• Taxable income: $71
• Est. tax owed @ 24.0%: −$17
• After-tax cash flow: $1,722/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: Alpena School District
• NCES district ID: 0502280
• Math proficiency: 35% ▼ -19.00%
• Reading proficiency: 34% ▼ -14.00%
• Median HH income: $39,637
• Composite: 28.95/100
• National rank: #6628
• State rank: #122 of 238 in AR

Livability — Alpena

• Score: 61/100
• State rank: #244
• US rank: #17958

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Alpena, AR
• Population (ZIP): 1,783

Population outlook (Carroll County) Hauer SSP2

• Today (2025): 28,014 people
• By 2030: 28,006 · +-0.0%
• By 2040: 28,242 · +0.8%
• By 2050: 29,169 · +4.1%
• By 2075: 33,935 · +21.1%
• By 2100: 39,497 · +41.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 8% Hispanic / Latino 2%
• Common ancestry: Iranian 9% Slovak 2% Scottish 1%
• Foreign-born: 0%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Carroll

• 2024 margin: Solid R (+31.7) · D 33.0% · R 64.7% · Other 2.2%
• 2008→2024 swing: -13.6pp toward R · 2008: -18.1pp · 2024: -31.7pp
• All cycles: 2024: R+31.7 2020: R+28.8 2016: R+32.3 2012: R+23.9 2008: R+18.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.76%
• Current HPI: 321.7957
• Rent YoY: —
• Metro: —
• 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

+120.4% since first listed

2 events — show timeline

• 2026-02-05 Listed $108,000 NWARMLS
• 1994-02-15 Sold (Public Records) $49,000 Public Records

Property tax history

-11.5%/yr

Latest (2025): $64 · -60.8% YoY. Source: county tax records.