475 County Road 4351

Oak Grove, AR 72660

$119,000C-

3 bd · 2.0 ba · 1,576 sqft · Built 1995 · Manufactured · Pending · 14 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,211/mo
• Mortgage (P&I): −$624
• Tax + insurance: −$198
• HOA: −$0
• Vac / Maint / Mgmt: −$254
• Net cashflow: $134/mo
• Annual: $1,608/yr
• Cap rate: 7.64%
• Cash-on-cash: 4.83%
• DSCR: 1.21
• 1% rule: 1.02%
• Cash to close: $33,320

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $119k.
• At list price, monthly cash flow is $134 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $119k).
• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $4k of equity ($823 loan paydown + $4k appreciation (3.0% local appreciation)).
• Location reads 57/100 on livability (#370 in AR) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime F, amenities F.
• Green Forest School District (town): math 31% / reading 32% proficiency, ranked #145 of 238 in AR (top 61%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Green Forest Elementary School (math 67% / reading 47%, grade C+, #49 of 454 statewide, top 12%, 479 students, 83% FRL); Green Forest Intermed School (math 32% / reading 32%, grade F, #133 of 201 statewide, top 66%, 547 students, 71% FRL); Green Forest High School (math 15% / reading 27%, grade F, #228 of 292 statewide, top 79%, 441 students, 68% FRL).
• Market conditions: 12 active listings in the ZIP; 30 units permitted in Carroll County in 2024 (0 in 5+ unit buildings).
• Carroll County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Current owner paid $15k; list at $119k implies a 693% gain — meaningful room to come down on a strong offer.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $33k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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?
• 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?
• 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.