164 Murray St

Hunter, AR 72074

$120,000F

3 bd · 2.0 ba · 1,311 sqft · Built 1999 · Manufactured · Active · 59 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $811/mo
• Mortgage (P&I): −$629
• Tax + insurance: −$200
• HOA: −$0
• Vac / Maint / Mgmt: −$170
• Net cashflow: $-189/mo
• Annual: $-2,266/yr
• Cap rate: 4.40%
• Cash-on-cash: -6.74%
• DSCR: 0.70
• 1% rule: 0.68%
• Cash to close: $33,600

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $120k. Condition is rated good.
• At list price, monthly cash flow is $-189 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $93k (22.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $81k (32.4% below list).
• It's been on market 59 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $81k (32.4% below list) — sets the bar for 1% rule.
• In year one you build about $4k of equity ($830 loan paydown + $4k appreciation (3.0% local appreciation)).
• Location reads 52/100 on livability (#458 in AR) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A, housing A-; Watch: amenities F, commute F, employment F.
• Brinkley School District (town): math 12% / reading 14% proficiency, ranked #225 of 238 in AR (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 99% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: C.B. Partee Elementary School (math 12% / reading 12%, grade F, #419 of 454 statewide, top 93%, 277 students, 100% FRL); Brinkley High School (math 12% / reading 17%, grade F, #265 of 292 statewide, top 91%, 192 students, 100% FRL) — zoned schools at 100% FRL track the district average.
• Market conditions: 1 active listings in the ZIP; 2 units permitted in Woodruff County in 2024 (0 in 5+ unit buildings).
• Woodruff County population projected at -36% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts 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.
• By year 8, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• 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.

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 59 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
• 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?
• 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.
• 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.