21 Kendal Dr

Bella Vista, AR 72714

$359,900D+

3 bd · 2.0 ba · 1,803 sqft · Built 2005 · SingleFamily · Pending · 48 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,483/mo
• Mortgage (P&I): −$1,887
• Tax + insurance: −$252
• HOA: −$40
• Vac / Maint / Mgmt: −$521
• Net cashflow: $-218/mo
• Annual: $-2,618/yr
• Cap rate: 5.57%
• Cash-on-cash: -2.60%
• DSCR: 0.88
• 1% rule: 0.69%
• Cash to close: $100,772

Investor read

• This is a 3-bed/2.0-bath single-family listed at $360k.
• At list price, monthly cash flow is $-218 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $321k (10.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $248k (31.0% below list).
• It's been on market 48 days — a 3% lower offer ($349k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $248k (31.0% below list) — sets the bar for 1% rule.
• In year one you build about $7k of equity ($2k loan paydown + $5k appreciation (1.4% local appreciation)).
• Location reads 67/100 on livability (#111 in AR) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools A; Watch: amenities F, commute F, health & safety F.
• Bentonville School District (urban): math 59% / reading 59% proficiency, ranked #3 of 238 in AR (top 1%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 484 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 4,359 units permitted in Benton County in 2024 (402 in 5+ unit buildings).
• Benton County population projected at +56% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $158k; list at $360k implies a 128% gain — meaningful room to come down on a strong offer.
• By year 5, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 5.6% vs local median 3.6% in Bella Vista — 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

• 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 48 days. Have you received any prior offers? Is the seller open to a 31% 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.