Wynne AR Fixer | Huge Margin Under $10K Entry

• Property Address: 503 Cogbill Ave E, Wynne, AR 72396
• County: Cross County (Cross County Assessor)
• Property Type: Single-Family Residence (Crawl/Pier foundation, built in 1936)
• Bedrooms / Bathrooms: 3 Beds / 1 Bath (Public records indicate 1,382 sqft, 1 bath; interior layout configured/marketed as 3/1)
• Gross Living Area (GLA): 1,382 sqft
• Lot Size: 6,490 sqft (0.15 acres)
• Asking Price: $9,250 (Wholesale assignment contract)
• Key Observations: The asking price of $9,250 directly matches the county's assessed value. Built in 1936 on a pier foundation with an asphalt roof, the home requires a full gut rehab, structural check, new roof, and MEP (mechanical/electrical/plumbing) systems.

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• Market Hotness Score: 44 / 100
  • Liquidity Profile: Wynne is a rural/secondary market in the Arkansas Delta with limited transaction volume and buyer velocity; inventory hovers around 55–60 listings.
  • Price Sensitivity: High DOM (frequently 75–100+ days for unrenovated inventory) and a modest local median price point make overcapitalization a major risk.

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Market Pulse

• Market Type: Buyer's / Neutral Rural Market.
• Average Days on Market (DOM): ~85 days.
• Active Competition: 58 homes for sale in the Wynne market area.
• Price Dynamics: Fully renovated entry-level 2-to-3-bedroom homes trade between $105,000 and $135,000 ($90–$115/sqft), while distressed/as-is inventory trades below $25,000 or remains unsold without severe price cuts.

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• After Repair Value (ARV):
  • Low ARV: $105,000 ($76/sqft — basic rental-grade finishes, 1 bathroom retained)
  • Mid ARV: $118,000 ($85/sqft — seller's projection confirmed by 621 Lemons and 916 Forrest)
  • High ARV: $130,000 ($94/sqft — if reconfigured to add a 2nd half/full bath)
• As-Is Value:
  • Low As-Is: $12,000
  • Mid As-Is: $18,000
  • High As-Is: $25,000 (Supported by vacant/severely distressed local sales like 902 Union Ave W at $18,000 and 514 Poplar at $15,000)

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Built in 1936 with a documented failed roof and deferred maintenance, the wholesaler's $40,000 estimate reflects a minimal investor rental refresh. Full investor budgeting should incorporate structural risk:

• Roof & Decking: $8,500 (Tear-off, replace rotted decking, 30-year architectural shingle)
• Foundation / Subfloor: $4,500 (Pier leveling, joist repairs, subfloor patching common to 1930s Delta homes)
• HVAC: $7,500 (Full split system / ductwork installation)
• Plumbing: $6,000 (Supply line repipe to PEX, DWV inspection/repairs, water heater)
• Electrical: $6,500 (200-amp panel upgrade, rewire to eliminate ungrounded circuits)
• Windows & Exterior Siding: $5,000 (Vinyl replacement windows, fascia/trim rot repair, exterior paint)
• Kitchen: $6,500 (Shaker cabinets, laminate/granite counters, sink, appliances)
• Bathrooms (1 bath): $4,000 (New tub/surround, vanity, toilet, hardware)
• Flooring: $3,800 (LVP throughout living/wet areas, carpet in bedrooms)
• Interior Paint / Drywall Repair: $4,500 (Water damage dry-out, drywall repair, full paint)
• Landscaping / Trash-Out / Clean: $2,200
• Estimated Budget Buckets:
  • Light Rehab: $38,000 (Surface rental cosmetics + roof only)
  • Normal / Comprehensive Rehab: $59,000 (Full MEP, roof, framing, modern interior)
  • Heavy Gut Rehab: $75,000+ (Extensive structural rebuild / floor joist collapse)

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• Gross Rent Range: $800 – $950/month (Average 3-bed rental in Wynne: ~$875/month)
• Operating Expense Projections (Monthly at $875/mo):
  • Property Taxes: $10/mo ($115/yr reassessed post-improvement)
  • Hazard Insurance: $85/mo
  • Maintenance / Repairs (8%): $70/mo
  • Vacancy (8%): $70/mo
  • Property Management (10%): $88/mo
  • Net Operating Income (NOI): ~$552/month ($6,624/year)
• Unleveraged Yield: At an all-in cost basis of $68,250 ($9,250 purchase + $59,000 rehab), the unleveraged cap rate is 9.7%, demonstrating strong cashflow potential.

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• County Assessor / Appraisal Records:
  • Assessed Value: $9,250 (Trulia / ActDataScout Cross County Assessor feed).
  • Annual Property Taxes: $84.00 (Cross County Collector).
• Owner of Record: Not confirmed via public indexed portals; must be confirmed via Cross County Assessor's ActDataScout portal or Cross County Circuit Clerk.
• Distress Signals:
  • Preforeclosure / Foreclosure: Not confirmed / False in public portals.
  • Tax Liens: Not confirmed.
  • Physical Distress: Heavy roof deterioration, water intrusion, exterior wood rot.
• FEMA Flood Zone: Zone X (Unshaded / Minimal Risk Area outside the 500-year floodplain; flood insurance optional).

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