414 W Ash St

Brinkley, AR 72021

2 bed
1.5 bath
1,296 sqft
10,454 sqft lot

Investment details

Asking

$55,000

ARV

$71k-$79k

Rent estimate

$601/mo

Why you need this deal

All-brick 1960 ranch on a 0.24-acre in-town lot, walking distance to everything in Brinkley. Structure, brick envelope and layout are sound. This is a cosmetic job, not a rebuild. Held by the same owner for 27+ years with no liens and no open mortgages of record, a clean and simple path to closing. Room to add a 3rd bedroom inside the existing 1,296 sq ft. Every renovated home that resold in this ZIP over the last two years was a 3-bed, and that conversion is where the top of the ARV range lives. Right off I-40, halfway between Little Rock and Memphis. Brinkley rents are up 8.92% over the last 30 days. The three lower comparable sales are as-is condition sales that support the buy. The three marked renovated are finished resales in the same market that support the ARV range.

Comparable sales

304 S Morris Ave, Brinkley
$48,000
307 W White Oak St, Brinkley
$40,000
207 W Pine St, Brinkley
$59,000
615 S New York Ave, Brinkley (renovated)
$148,500View
118 E Cloverdale Dr, Brinkley (renovated)
$118,000
309 N Main St, Brinkley (renovated)
$75,000

Repairs

Estimated finish budget: $10k-$15k depending on contractor.

Flooring throughout, 1,296 sqft
Interior paint: walls, ceilings and trim (paneling takes a primer coat first)
Trim, interior doors, hardware and light fixtures
Cleaning and haul-off
Worth pricing separately: roof, shows age and surface wear on the main structure and carport
Worth pricing separately: kitchen, cabinet sections have been removed and the wall behind the base run is exposed
Worth pricing separately: bathroom, original tub, tile surround and wall-mount fixtures still in place
Worth pricing separately: 3rd bedroom conversion, approx. $8,000 (framing, closet, egress window, door, electrical)
Worth pricing separately: HVAC, plumbing and electrical service, age and condition unverified