1805 Goodwin Ave · West Memphis, AR 72301

$66,900

2 bd · 1.0 ba · 875 sqft · SingleFamily public records · 93 Days on market

Built 1956 9,147 sqft lot $76/sqft · 6% above area Est $63k · 6% 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• ARV discount +4.9/15.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to market this charming home located in the Memphis View Subdivision Great investment opportunity cash flowing for $625 monthly. Home has 2 bedrooms, 1 bathroom, and a large backyard. Professionally managed by Crest Core. DO NOT DISTURB TENANTS Home is apart of a 3 property package deal (1913 Sula & 208 s Center)

Key facts

• 9,147 sq ft lot
• Built 1956
• Listed 93 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $67k.

Deal economics

• At list price, monthly cash flow is $291 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($877 rent vs $67k).
• Recommended offer: $61k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.5% vs local median 7.0% in West Memphis — 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.

Location & tenants

• Location reads 55/100 on livability (#413 in AR) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: schools D-, crime F, amenities F.
• West Memphis School District (suburban): math 16% / reading 15% proficiency, ranked #224 of 238 in AR (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 96% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 133 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 69 units permitted in Crittenden County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $463 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Crittenden County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 93 days — a 9% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• 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.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $60,879 (9.0% below list)

Questions for the listing agent

1. It's been on market 93 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 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.31% ✓
• Cap rate: 11.50%
• Cash-on-cash: 18.61%
• DSCR: 1.83
• GRM: 6.4

CMA / ARV

• ARV (median comp): $63,225
• List price: $66,900
• Delta: 5.81%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2009 Goodwin Ave	0.17mi	2/1.0	850 (-3%)	6mo	$110,000	$129	83
721 E Mcauley	0.32mi	3/1.0 (+1)	846 (-3%)	3mo	$41,000	$48	73
541 Rosemary Ln	0.35mi	2/1.0	825 (-6%)	9mo	$38,000	$46	66
525 N 18th St	0.40mi	2/1.0	875 (0%)	20mo	$22,700	$26	65
733 N 18th St	0.10mi	2/1.0	780 (-11%)	18mo	$25,000	$32	62
1921 Barton Ave	0.25mi	3/1.0 (+1)	900 (+3%)	22mo	$110,000	$122	60
600 Johnson St	0.50mi	3/1.5 (+1)	930 (+6%)	5mo	$95,000	$102	55
1104 Goodwin Cir	0.37mi	3/1.5 (+1)	962 (+10%)	8mo	$135,900	$141	53
1101 Goodwin Ave	0.41mi	3/1.5 (+1)	988 (+13%)	11mo	$119,900	$121	44
601 N 28th St	0.75mi	3/1.0 (+1)	951 (+9%)	4mo	$125,000	$131	43

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

Projected returns pro-forma

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

5-year hold

• IRR: 10.3%
• Equity multiple: 1.41×
• Total profit: $7,639
• Equity at exit: $9,975

10-year hold

• IRR: 19.4%
• Equity multiple: 2.62×
• Total profit: $30,382
• Equity at exit: $5,784

Cash invested: $18,732 (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 72301

• Active inventory: 133
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $877 medium
• Mortgage (P&I): −$351
• Tax from tax record: −$23 /mo · $280/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$184
• Net cashflow: $291

Break-even live

Break-even rent $509

Max offer price $66,900

Occupancy floor 62%

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: $16,725
• Closing costs: $2,007
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
741 N 18th St West Memphis, AR	2.0	1.0	814	$940	$1.15	4d	1	0.10mi
2401 Wheeler Ave West Memphis, AR	2.0	1.0	1000	$750	$0.75	44d	1	0.39mi
2400 Goodwin Ave West Memphis, AR	2.0	1.5	1100	$775	$0.70	44d	1	0.41mi
2416 Thompson Ave West Memphis, AR	2.0	1.0	550	$738	$1.34	2d	3	0.79mi

Listing history 20 events

1. 2026-06-18
   days on market $66,900 Active 93 DOM
2. 2026-06-17
   days on market $66,900 Active 92 DOM
3. 2026-06-16
   days on market $66,900 Active 91 DOM
4. 2026-06-15
   days on market $66,900 Active 90 DOM
5. 2026-06-13
   days on market $66,900 Active 88 DOM
6. 2026-06-10
   days on market $66,900 Active 85 DOM
7. 2026-06-09
   days on market $66,900 Active 84 DOM
8. 2026-06-08
   days on market $66,900 Active 83 DOM
9. 2026-06-07
   days on market $66,900 Active 82 DOM
10. 2026-06-03
    days on market $66,900 Active 78 DOM
11. 2026-06-02
    days on market $66,900 Active 77 DOM
12. 2026-06-01
    days on market $66,900 Active 76 DOM
13. 2026-05-31
    days on market $66,900 Active 75 DOM
14. 2026-03-16
    listed $66,900 New Listing 328-char remark

    Show marketing remark (328 chars)

    Welcome to market this charming home located in the Memphis View Subdivision Great investment opportunity cash flowing for $625 monthly. Home has 2 bedrooms, 1 bathroom, and a large backyard. Professionally managed by Crest Core. DO NOT DISTURB TENANTS Home is apart of a 3 property package deal (1913 Sula & 208 s Center)

15. 2025-09-01
    historical
16. 2025-04-17
    price $66,900
17. 2025-02-06
    listed $69,900 New Listing
18. 2025-02-06
    listed $69,900 Active
19. 2013-11-15
    soldstatus $106,000
20. 2000-05-23
    soldstatus $17,000

ⓘ 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: $280 · $23/mo
• Projected year-2 tax: $428 · $36/mo
• Expected delta: +$148/yr (+$12/mo · 53.1%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (shaded) · 66% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 14% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,520
• − Mortgage interest: −$3,747
• − Property taxes: −$280
• − Insurance: −$334
• − Repairs & maintenance: −$842
• − Management: −$842
• − Depreciation: −$1,946
• Taxable income: $2,529
• Est. tax owed @ 24.0%: −$607
• After-tax cash flow: $2,879/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: West Memphis School District
• NCES district ID: 0508040
• Math proficiency: 16% ▼ -14.00%
• Reading proficiency: 15% ▼ -14.00%
• Median HH income: $29,382
• Composite: 12.22/100
• National rank: #9647
• State rank: #224 of 238 in AR

Livability — West Memphis

• Score: 55/100
• State rank: #413
• US rank: #23638

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Memphis, AR
• City population: 24,182
• Population (ZIP): 24,182

Population outlook (Crittenden County) Hauer SSP2

• Today (2025): 45,254 people
• By 2030: 42,953 · -5.1%
• By 2040: 38,235 · -15.5%
• By 2050: 33,670 · -25.6%
• By 2075: 24,315 · -46.3%
• By 2100: 17,173 · -62.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (64%)
• Race & ethnicity: Black 64% White 29% Two or more races 6% Hispanic / Latino 2%
• Common ancestry: Serbian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Crittenden

• 2024 margin: Toss-up / Even · D 50.1% · R 47.9% · Other 2.0%
• 2008→2024 swing: -12.4pp toward R · 2008: 14.7pp · 2024: 2.3pp
• All cycles: 2024: D+2.3 2020: D+7.2 2016: D+9.0 2012: D+18.7 2008: D+14.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -143.63%
• Current HPI: 182.7665
• 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

+293.5% since first listed

7 events — show timeline

• 2026-03-16 Listed $66,900 CARMLS
• 2025-09-01 Listing Removed — CARMLS
• 2025-04-17 Price Changed $66,900 CARMLS
• 2025-02-06 Listed $69,900 NEABOR MLS
• 2025-02-06 Listed $69,900 CARMLS
• 2013-11-15 Sold (Public Records) $106,000 Public Records
• 2000-05-23 Sold (Public Records) $17,000 Public Records

Property tax history

-0.6%/yr

Latest (2025): $280 · +9.8% YoY. Source: county tax records.