408 Wardell · Corning, AR 72422

$98,000

3 bd · 1.0 ba · 1,115 sqft · SingleFamily public records · 70 Days on market

Built 2000 0.26 ac lot $88/sqft · 21% above area Est $81k · 21% over

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Why this score? — see what drove the C- 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 +24.1/30.0
• DSCR +7.8/10.0
• Appreciation +5.9/10.0
• 1% rule +5.5/10.0
• Livability +3.6/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks MLS

Move-in ready updates meet affordable living in this refreshed 3-bed, 2-bath home. With new plumbing, new windows, fresh interior paint, and select new flooring, the major work is already done. The efficient mini-split system keeps the home comfortable year-round.

Key facts

• 0.26 acre lot
• Built 2000
• Listed 69 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $98k.

Deal economics

• At list price, monthly cash flow is $194 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $98k).
• Recommended offer: $92k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 7.0% in Corning — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 71/100 on livability (#38 in AR) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D-, amenities F, commute F.
• Corning School District (town): math 33% / reading 38% proficiency, ranked #123 of 238 in AR (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 44 active listings in the ZIP; 4 units permitted in Clay County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($678 loan paydown + $2k appreciation (1.8% local appreciation)).
• Clay County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.8% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago 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.
• Current owner paid $28k; list at $98k implies a 244% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $92,120 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.05% ✓
• Cap rate: 8.66%
• Cash-on-cash: 8.46%
• DSCR: 1.38
• GRM: 8.0

CMA / ARV

• ARV (median comp): $81,190
• List price: $98,000
• Delta: 20.71%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
409 SW 3rd St	0.51mi	3/1.0	1,120 (+0%)	2mo	$93,000	$83	74
204 N Mckinley Ave N	0.18mi	2/1.0 (-1)	1,188 (+6%)	6mo	$15,000	$13	71
1405 Plainview St	0.38mi	3/1.0	1,200 (+8%)	0mo	$142,000	$118	69
1405 Plainview St	0.38mi	3/1.0	1,200 (+8%)	6mo	$15,000	$13	65
1411 Magnolia St	0.39mi	3/1.0	1,100 (-1%)	18mo	$86,000	$78	65
105 NW 1st St	0.45mi	3/1.0	1,144 (+3%)	14mo	$85,000	$74	63
1206 Jones St	0.25mi	3/1.5	1,008 (-10%)	11mo	$120,900	$120	61
1303 Irma St	0.39mi	3/1.0	1,031 (-8%)	12mo	$39,000	$38	60
202 E Main St	0.65mi	3/1.0	1,156 (+4%)	10mo	$107,900	$93	55
203 NE 2nd St St	0.54mi	3/1.0	1,056 (-5%)	13mo	$94,600	$90	55
1103 Garland St	0.53mi	4/1.0 (+1)	1,238 (+11%)	8mo	$105,000	$85	45
411 SW 4th St	0.48mi	2/1.0 (-1)	980 (-12%)	17mo	$106,000	$108	38

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

Projected returns pro-forma

1.83% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.4%
• Equity multiple: 1.66×
• Total profit: $18,168
• Equity at exit: $37,746

10-year hold

• IRR: 15.3%
• Equity multiple: 3.01×
• Total profit: $55,146
• Equity at exit: $53,666

Cash invested: $27,440 (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 72422

• Home prices YoY: 1.0%
• Active inventory: 44
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,024 medium
• Mortgage (P&I): −$514
• Tax from tax record: −$61 /mo · $732/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$215
• Net cashflow: $194

Break-even live

Break-even rent $779

Max offer price $98,000

Occupancy floor 76%

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: $24,500
• Closing costs: $2,940
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-19
   days on market $98,000 Active 70 DOM
2. 2026-06-18
   days on market $98,000 Active 69 DOM
3. 2026-06-17
   days on market $98,000 Active 68 DOM
4. 2026-06-16
   days on market $98,000 Active 67 DOM
5. 2026-06-15
   days on market $98,000 Active 66 DOM
6. 2026-06-14
   days on market $98,000 Active 64 DOM
7. 2026-06-12
   days on market $98,000 Active 63 DOM
8. 2026-06-09
   days on market $98,000 Active 60 DOM
9. 2026-06-08
   days on market $98,000 Active 59 DOM
10. 2026-06-07
    days on market $98,000 Active 58 DOM
11. 2026-06-03
    days on market $98,000 Active 54 DOM
12. 2026-06-02
    days on market $98,000 Active 53 DOM
13. 2026-06-01
    days on market $98,000 Active 52 DOM
14. 2026-05-31
    days on market $98,000 Active 51 DOM
15. 2026-05-30
    days on market $98,000 Active 50 DOM
16. 2026-05-02
    price $98,000 264-char remark

    Show marketing remark (264 chars)

    Move-in ready updates meet affordable living in this refreshed 3-bed, 2-bath home. With new plumbing, new windows, fresh interior paint, and select new flooring, the major work is already done. The efficient mini-split system keeps the home comfortable year-round.

17. 2026-04-10
    listed $101,000 New Listing 264-char remark

    Show marketing remark (264 chars)

    Move-in ready updates meet affordable living in this refreshed 3-bed, 2-bath home. With new plumbing, new windows, fresh interior paint, and select new flooring, the major work is already done. The efficient mini-split system keeps the home comfortable year-round.

18. 2024-09-18
    soldstatus $28,500
19. 2024-04-24
    historical
20. 2023-06-25
    historical
21. 2023-05-01
    listed $50,000 Active
22. 2023-05-01
    listed $50,000 New Listing
23. 2023-04-30
    listed $50,000
24. 2007-10-23
    soldstatus $21,000

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

Tax reassessment forecast AR · Resets to sale price

• Current annual tax: $732 · $61/mo
• Projected year-2 tax: $732 · $61/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥110°F today · 21 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% 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: $12,293
• − Mortgage interest: −$5,490
• − Property taxes: −$732
• − Insurance: −$490
• − Repairs & maintenance: −$983
• − Management: −$983
• − Depreciation: −$2,851
• Taxable income: $763
• Est. tax owed @ 24.0%: −$183
• After-tax cash flow: $2,139/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: Corning School District
• NCES district ID: 0500009
• Math proficiency: 33% ▼ -8.00%
• Reading proficiency: 38% ▼ -8.00%
• Median HH income: $28,919
• Composite: 28.73/100
• National rank: #6679
• State rank: #123 of 238 in AR

Livability — Corning

• Score: 71/100
• State rank: #38
• US rank: #6594

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Corning, AR
• Population (ZIP): 4,302

Population outlook (Clay County) Hauer SSP2

• Today (2025): 13,564 people
• By 2030: 12,834 · -5.4%
• By 2040: 11,498 · -15.2%
• By 2050: 10,325 · -23.9%
• By 2075: 8,228 · -39.3%
• By 2100: 6,675 · -50.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 6%
• Common ancestry: Lithuanian 2% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Clay

• 2024 margin: Solid R (+61.6) · D 18.3% · R 79.9% · Other 1.9%
• 2008→2024 swing: -47.3pp toward R · 2008: -14.3pp · 2024: -61.6pp
• All cycles: 2024: R+61.6 2020: R+60.3 2016: R+29.8 2012: R+29.1 2008: R+14.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.83%
• Current HPI: 191.7305
• 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

+366.7% since first listed

9 events — show timeline

• 2026-05-02 Price Changed $98,000 CARMLS
• 2026-04-10 Listed $101,000 CARMLS
• 2024-09-18 Sold (Public Records) $28,500 Public Records
• 2024-04-24 Listing Removed — CARMLS
• 2023-06-25 Listing Removed — CARMLS
• 2023-05-01 Listed $50,000 CARMLS
• 2023-05-01 Listed $50,000 NEABOR MLS
• 2023-04-30 Listed $50,000 CARMLS
• 2007-10-23 Sold (Public Records) $21,000 Public Records

Property tax history

+7.4%/yr

Latest (2025): $732 · +76.7% YoY. Source: county tax records.