6164 Settlemire Ln

Harrisburg, AR 72432

$79,900B

3 bd · 1.0 ba · 1,596 sqft · Built 1962 · SingleFamily · Active · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,183/mo
• Mortgage (P&I): −$419
• Tax + insurance: −$67
• HOA: −$0
• Vac / Maint / Mgmt: −$248
• Net cashflow: $448/mo
• Annual: $5,377/yr
• Cap rate: 13.02%
• Cash-on-cash: 24.04%
• DSCR: 2.07
• 1% rule: 1.48%
• Cash to close: $22,372

Investor read

• This is a 3-bed/1.0-bath single-family listed at $80k.
• At list price, monthly cash flow is $448 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-2.4%/yr); year-one equity from $552 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 56/100 on livability (#375 in AR) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, health & safety A, housing A-; Watch: employment D, crime D-, amenities F.
• Harrisburg School District (rural): math 31% / reading 35% proficiency, ranked #137 of 238 in AR (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 86% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Harrisburg Elementary School (math 37% / reading 32%, grade F, #254 of 454 statewide, top 59%, 493 students, 29% FRL); Harrisburg High School (math 17% / reading 32%, grade F, #187 of 292 statewide, top 70%, 480 students, 22% FRL) — zoned schools average 26% FRL vs 86% district-wide (61 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 55 active listings in the ZIP; 67 units permitted in Poinsett County in 2024 (5 in 5+ unit buildings).
• Poinsett County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 8 sale attempts since 5y 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 $30k; list at $80k implies a 166% gain — meaningful room to come down on a strong offer.
• At projected returns (-2.4% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~5 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• Crime grade is D 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.