11804 Dogwood Dr

Lost Bridge Village, AR 72732

$367,400B+

2 bd · 1.5 ba · 1,152 sqft · Built 1976 · SingleFamily · Active · 114 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $5,418/mo
• Mortgage (P&I): −$1,927
• Tax + insurance: −$376
• HOA: −$22
• Vac / Maint / Mgmt: −$1,138
• Net cashflow: $1,955/mo
• Annual: $23,466/yr
• Cap rate: 12.68%
• Cash-on-cash: 22.81%
• DSCR: 2.01
• 1% rule: 1.47%
• Cash to close: $102,872

Investor read

• This is a 2-bed/1.5-bath single-family listed at $367k.
• At list price, monthly cash flow is $2k ($23k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $367k).
• It's been on market 114 days — a 9% lower offer ($334k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $334k (9.0% below list) — sets the bar for market timing.
• In year one you build about $30k of equity ($3k loan paydown + $28k appreciation (7.6% local appreciation)).
• Location reads 57/100 on livability (#348 in AR) — a working-class tenant base; expect higher turnover. Strengths: housing A+, crime B+, employment B; Watch: cost of living C-, schools F, amenities F.
• Rogers School District (urban): math 45% / reading 45% proficiency, ranked #31 of 238 in AR (top 13%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 129 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 4,359 units permitted in Benton County in 2024 (402 in 5+ unit buildings).
• Benton County population projected at +56% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 8 sale attempts since 13y 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.
• At projected returns (7.6% appreciation + 3.0% rent growth), your $103k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$49k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 12.7% vs local median 2.8% in Lost Bridge Village — 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.

Questions for listing agent

• It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.