215-219, Ross Ave · West Memphis, AR 72301

$749,900

None bd · None ba · 18,848 sqft · MultiFamily · 220 Days on market

Built 1950 Fair condition 0.81 ac lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 16 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Prime investment opportunity in West Memphis-16 unit Apts. Discover an exceptional Value-add opportunity located at Park & Ross in West Memphis, Arkansas This property features two 8-unit buildings for a total of 16 units , ideally positioned for a full renovation project. The exterior renovations have been done , offering a solid head start for investors -Interiors are ready for transformation-perfect for converting into modern upscale luxury rentals or high end multi family housing, with the growing demand for quality units in the area , this project is teed up for the right buyer to bring their vision to life -Whether you are a seasoned developer or looking to enter high growth market , this property provides the rare combination of location, structure, ,and opportunity . .Bring your plans, elevate the finish and unlock for full potential of this investment. LENDER IS WILLING TO HOLD THE MORTGAGE OR DO A JOINT VENTURE FIX AND FLIP THE PROPERTY . .. LENDER IS WILLING TO DISCUSS OTHER OPTIONS.

Key facts

• Exterior renovations
• 0.81 acre lot
• Built 1950

Tags

• INVESTMENT OPPORTUNITY
• FULL RENOVATION PROJECT
• EXTERIOR RENOVATIONS
• MODERN UPSCALE LUXURY RENTALS
• HIGH END MULTI FAMILY HOUSING

What this means for you Summary

Snapshot

• This is a 16 × 2-bed/2-bath units multifamily listed at $750k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $13k ($152k/yr) — positive. Per door: $793/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($23k rent vs $750k).
• Recommended offer: $660k (12.0% below list) — sets the bar for market timing.
• Cap rate 26.6% vs local median 6.9% 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: 136 active listings in the ZIP; 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 $5k of loan paydown is wiped out by about $22k 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 $210k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 220 days — a 12% lower offer ($660k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $145k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• 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 $659,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 220 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 3.02% ✓
• Cap rate: 26.59%
• Cash-on-cash: 72.49%
• DSCR: 4.23
• GRM: 2.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 72.2%
• Equity multiple: 4.27×
• Total profit: $686,692
• Equity at exit: $111,813

10-year hold

• IRR: 76.1%
• Equity multiple: 8.81×
• Total profit: $1,639,603
• Equity at exit: $64,838

Cash invested: $209,972 (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: 136
• Price-to-rent: 44.2×

Monthly cashflow live

• Estimated rent: $22,616 medium
• Mortgage (P&I): −$3,933
• Tax est. 1.5%: −$937 /mo · $11,248/yr
• Insurance: −$312
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,749
• Net cashflow: $12,684

Break-even live

Break-even rent $6,560

Max offer price $749,900

Occupancy floor 39%

Sensitivity live

Price	-10% $13,202	-5% $12,943	+0% $12,684	+5% $12,425	+10% $12,166
Rent	-10% $10,898	-5% $11,791	+0% $12,684	+5% $13,578	+10% $14,471
Rate	-1.0pp $13,062	-0.5pp $12,875	base $12,684	+0.5pp $12,490	+1.0pp $12,292

16-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 16× units	2	2	$22,624
Total (16 units)			$22,616

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: $187,475
• Closing costs: $22,497
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-21
   days on market $749,900 Active 220 DOM
2. 2026-06-18
   days on market $749,900 Active 217 DOM
3. 2026-06-17
   days on market $749,900 Active 216 DOM
4. 2026-06-16
   days on market $749,900 Active 215 DOM
5. 2026-06-15
   days on market $749,900 Active 214 DOM
6. 2026-06-13
   days on market $749,900 Active 212 DOM
7. 2026-06-10
   days on market $749,900 Active 209 DOM
8. 2026-06-09
   days on market $749,900 Active 208 DOM
9. 2026-06-08
   days on market $749,900 Active 207 DOM
10. 2026-06-07
    pricedays on market $749,900 Active 206 DOM
11. 2026-06-03
    days on market $895,000 Active 202 DOM
12. 2026-06-02
    days on market $895,000 Active 201 DOM
13. 2026-06-01
    days on market $895,000 Active 200 DOM
14. 2026-05-31
    days on market $895,000 Active 199 DOM
15. 2026-05-14
    status Active 1015-char remark

    Show marketing remark (1015 chars)

    Prime investment opportunity in West Memphis-16 unit Apts. Discover an exceptional Value-add opportunity located at Park & Ross in West Memphis, Arkansas This property features two 8-unit buildings for a total of 16 units , ideally positioned for a full renovation project. The exterior renovations have been done , offering a solid head start for investors -Interiors are ready for transformation-perfect for converting into modern upscale luxury rentals or high end multi family housing, with the growing demand for quality units in the area , this project is teed up for the right buyer to bring their vision to life -Whether you are a seasoned developer or looking to enter high growth market , this property provides the rare combination of location, structure, ,and opportunity . .Bring your plans, elevate the finish and unlock for full potential of this investment. LENDER IS WILLING TO HOLD THE MORTGAGE OR DO A JOINT VENTURE FIX AND FLIP THE PROPERTY . .. LENDER IS WILLING TO DISCUSS OTHER OPTIONS.

16. 2025-11-14
    listed $895,000 Active 1015-char remark

    Show marketing remark (1015 chars)

    Prime investment opportunity in West Memphis-16 unit Apts. Discover an exceptional Value-add opportunity located at Park & Ross in West Memphis, Arkansas This property features two 8-unit buildings for a total of 16 units , ideally positioned for a full renovation project. The exterior renovations have been done , offering a solid head start for investors -Interiors are ready for transformation-perfect for converting into modern upscale luxury rentals or high end multi family housing, with the growing demand for quality units in the area , this project is teed up for the right buyer to bring their vision to life -Whether you are a seasoned developer or looking to enter high growth market , this property provides the rare combination of location, structure, ,and opportunity . .Bring your plans, elevate the finish and unlock for full potential of this investment. LENDER IS WILLING TO HOLD THE MORTGAGE OR DO A JOINT VENTURE FIX AND FLIP THE PROPERTY . .. LENDER IS WILLING TO DISCUSS OTHER OPTIONS.

ⓘ 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 1/10 Low FEMA zone X (shaded) · 0% 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 16% 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: $271,392
• − Mortgage interest: −$42,006
• − Property taxes: −$11,248
• − Insurance: −$3,750
• − Repairs & maintenance: −$21,711
• − Management: −$21,711
• − Depreciation: −$21,815
• Taxable income: $149,150
• Est. tax owed @ 24.0%: −$35,796
• After-tax cash flow: $116,415/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.

Condition & rehab AI · 12 photos

Fair 45/100 Extensive rehab

This 16-unit multi-family property requires extensive renovation, including exterior painting, interior finishing, plumbing and electrical updates, and flooring replacement. With proper updates, it presents a significant value-add opportunity for investors looking to convert it into modern upscale luxury rentals or high-end multi-family housing.

Repairs flagged

• Major Exterior siding — Weathered and in need of repainting.
• Major Interior framing — Exposed, indicating significant renovation work is needed.
• Major Flooring — Exposed subflooring suggests flooring needs replacement.
• Major Plumbing and electrical systems — Exposed framing and lack of finished walls indicate plumbing and electrical systems need updating.
• Major Landscaping — Sparse and in need of maintenance.

Value-add opportunities

• Both Exterior painting — Enhances curb appeal and property value.
• Both Interior finishing — Completes the renovation and makes the property move-in ready.
• Both Landscaping — Improves curb appeal and enhances property value.
• Both Plumbing and electrical updates — Ensures the property is up to code and ready for occupancy.
• Both Flooring replacement — Improves the living experience and property value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Weathered and in need of repainting.	Major	$15,000–50,000
Interior framing · Exposed, indicating significant renovation work is needed.	Major	$15,000–50,000
Flooring · Exposed subflooring suggests flooring needs replacement.	Major	$15,000–50,000
Plumbing and electrical systems · Exposed framing and lack of finished walls indicate plumbing and electrical systems need updating.	Major	$15,000–50,000
Landscaping · Sparse and in need of maintenance.	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both Exterior painting — Enhances curb appeal and property value. ↑
• Both Interior finishing — Completes the renovation and makes the property move-in ready. ↑
• Both Landscaping — Improves curb appeal and enhances property value. ↑
• Both Plumbing and electrical updates — Ensures the property is up to code and ready for occupancy. ↑
• Both Flooring replacement — Improves the living experience and property value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

2 events — show timeline

• 2026-05-14 Relisted — EARA
• 2025-11-14 Listed $895,000 EARA