6013 Windham Ave

Pine Bluff, AR 71602

$209,900C

8 bd · 4.0 ba · 2,520 sqft · Built 1982 · MultiFamily · Active · 227 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,238/mo
• Mortgage (P&I): −$1,101
• Tax + insurance: −$156
• HOA: −$0
• Vac / Maint / Mgmt: −$470
• Net cashflow: $512/mo
• Annual: $6,141/yr
• Cap rate: 9.22%
• Cash-on-cash: 10.45%
• DSCR: 1.46
• 1% rule: 1.07%
• Cash to close: $58,772

Investor read

• This is a 4 × 2-bed/1-bath units multifamily listed at $210k.
• At list price, monthly cash flow is $512 ($6k/yr) — positive. Per door: $128/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $210k).
• It's been on market 227 days — a 12% lower offer ($185k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $185k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 50/100 on livability (#483 in AR) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: schools F, crime F, amenities F.
• White Hall School District (rural): math 36% / reading 38% proficiency, ranked #86 of 238 in AR (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 90 active listings in the ZIP; 62 units permitted in Jefferson County in 2024 (0 in 5+ unit buildings).
• Jefferson County population projected at -33% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 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.
• Current owner paid $160k; 31% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 227 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• 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?
• 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.