23699 Highway 90

Ravenden, AR 72459

$63,900B-

2 bd · 1.0 ba · 728 sqft · Built 1990 · Manufactured · Active · 61 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $820/mo
• Mortgage (P&I): −$335
• Tax + insurance: −$106
• HOA: −$0
• Vac / Maint / Mgmt: −$172
• Net cashflow: $206/mo
• Annual: $2,472/yr
• Cap rate: 10.16%
• Cash-on-cash: 13.82%
• DSCR: 1.61
• 1% rule: 1.28%
• Cash to close: $17,892

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $64k.
• At list price, monthly cash flow is $206 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($820 rent vs $64k).
• It's been on market 61 days — a 6% lower offer ($60k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $60k (6.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($442 loan paydown + $2k appreciation (3.0% local appreciation)).
• Location reads 61/100 on livability (#241 in AR) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: crime C-, schools F, amenities F.
• Sloan-Hendrix School District (rural): math 28% / reading 28% proficiency, ranked #171 of 238 in AR (top 72%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 26 active listings in the ZIP; 6 units permitted in Randolph County in 2024 (5 in 5+ unit buildings).
• Randolph County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $23k; list at $64k implies a 178% gain — meaningful room to come down on a strong offer.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~4 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 61 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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?
• 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.