1032 Summer St · Hot Springs, AR 71913

$90,000

2 bd · 2.0 ba · 1,288 sqft · SingleFamily public records · 80 Days on market

Built 1945 0.34 ac lot $70/sqft · 29% below area Est $127k · 29% under ↓ 31% since listing

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Why this score? — see what drove the B+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• Rent growth +4.1/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

INVESTOR SPECIAL! Bring your tools and vision to this 2-bedroom, 2-bathroom home on Summer Street. Located on a 0.34 acre lot just minutes from Oaklawn and Downtown Hot Springs, this 1,288 sq ft home is the ultimate canvas for a fix and flip or a custom renovation. This property offers incredible potential in a prime location. Don't miss out on this high value project!

Key facts

• Incredible potential
• Prime location
• 0.34 acre lot

Tags

• 0.34 ACRE LOT
• PRIME LOCATION
• INCREDIBLE POTENTIAL

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $401 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $85k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.6% vs local median 2.8% in Hot Springs — 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.

Location & tenants

• Location reads 65/100 on livability (#140 in AR) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: crime F, amenities F, commute F.
• Hot Springs School District (urban): math 24% / reading 25% proficiency, ranked #195 of 238 in AR (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Hot Springs Junior Academy (math 20% / reading 29%, grade F, #166 of 201 statewide, top 84%, 815 students, 100% FRL, charter); Hot Springs World Class High School (math 12% / reading 24%, grade F, #252 of 292 statewide, top 87%, 739 students, 100% FRL, charter) — zoned schools average 100% FRL vs 72% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.4%/yr); 981 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 117 units permitted in Garland County in 2024 (24 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Garland County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 6.4% rent growth), your $25k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($85k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y 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 $38k; list at $90k implies a 137% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• 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.

Recommended offer $84,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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.

Investment metrics

• 1% rule: 1.34% ✓
• Cap rate: 11.64%
• Cash-on-cash: 19.10%
• DSCR: 1.85
• GRM: 6.2

CMA / ARV

• ARV (median comp): $127,128
• List price: $90,000
• Delta: -29.21%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
400 Henderson St	0.40mi	3/1.0 (+1)	1,302 (+1%)	4mo	$125,000	$96	68
144 Centerview St	0.41mi	3/2.0 (+1)	1,196 (-7%)	0mo	$151,000	$126	64
290 Woodlawn Ave	0.61mi	2/1.0	1,256 (-2%)	1mo	$70,000	$56	62
107 Sherman St	0.43mi	3/2.0 (+1)	1,364 (+6%)	4mo	$182,000	$133	62
605 Second St	0.67mi	3/1.5 (+1)	1,261 (-2%)	1mo	$30,000	$24	58
209 N Patterson St	0.59mi	3/2.0 (+1)	1,330 (+3%)	6mo	$77,000	$58	57
101 Carmen St	0.41mi	3/2.0 (+1)	1,436 (+12%)	4mo	$214,000	$149	54
409 Henderson St	0.39mi	3/1.0 (+1)	1,156 (-10%)	4mo	$155,000	$134	52
310 Oaklawn St	0.47mi	3/2.0 (+1)	1,156 (-10%)	6mo	$78,000	$67	51
210 Jeffries St	0.66mi	3/1.0 (+1)	1,224 (-5%)	3mo	$129,000	$105	49
400 Summer St	0.67mi	2/1.0	1,160 (-10%)	6mo	$95,000	$82	43
1105 Richard St	0.60mi	3/1.0 (+1)	1,140 (-12%)	4mo	$127,000	$111	41

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 6.43% rent growth · sell at horizon

5-year hold

• IRR: 14.5%
• Equity multiple: 1.61×
• Total profit: $15,250
• Equity at exit: $13,419

10-year hold

• IRR: 25.6%
• Equity multiple: 3.58×
• Total profit: $65,046
• Equity at exit: $7,782

Cash invested: $25,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 92 Strongly Landlord-Friendly
• State Arkansas: 92 Strongly Landlord-Friendly · R+14
• County: — inherits STATE
• City: — inherits STATE

Only US state where non-payment is criminal. Strongly landlord-favorable; very few tenant protections.

Methodology + full state rankings →

ZIP-level market 71913

• Home prices YoY: -33.9%
• Rents YoY: 6.4%
• Active inventory: 981
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,206 high
• Mortgage (P&I): −$472
• Tax from tax record: −$42 /mo · $508/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $401

Break-even live

Break-even rent $698

Max offer price $90,000

Occupancy floor 62%

Sensitivity live

Price	-10% $452	-5% $427	+0% $401	+5% $376	+10% $350
Rent	-10% $306	-5% $354	+0% $401	+5% $449	+10% $497
Rate	-1.0pp $447	-0.5pp $424	base $401	+0.5pp $378	+1.0pp $354

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
410 Oakwood Ave Hot Springs, AR	2.0–3.0	2.0	1000	$999	$1.00	45d	6	0.25mi
228 Henderson St Hot Springs National Park, AR	3.0	2.0	1585	$2,000	$1.26	45d	1	0.49mi
143 Alpine St Hot Springs National Park, AR	2.0	1.0	1000	$995	$0.99	45d	1	0.67mi
150 Sun St Hot Springs National Park, AR	3.0	1.0	1120	$1,150	$1.03	45d	1	0.67mi
1036 Garland Ave Hot Springs National Park, AR	2.0	1.0	1200	$1,150	$0.96	45d	1	0.78mi
600 Higdon Ferry Rd #300 Hot Springs, AR	2.0	2.0	1388	$1,250	$0.90	45d	1	0.89mi
319 Hazel St Hot Springs National Park, AR	3.0	2.0	1743	$1,895	$1.09	45d	1	1.23mi

Listing history 24 events

1. 2026-06-22
   days on market $90,000 Active 80 DOM
2. 2026-06-19
   days on market $90,000 Active 78 DOM
3. 2026-06-18
   days on market $90,000 Active 77 DOM
4. 2026-06-17
   days on market $90,000 Active 76 DOM
5. 2026-06-16
   days on market $90,000 Active 75 DOM
6. 2026-06-15
   days on market $90,000 Active 74 DOM
7. 2026-06-14
   days on market $90,000 Active 72 DOM
8. 2026-06-13
   days on market $90,000 Active 71 DOM
9. 2026-06-10
   days on market $90,000 Active 69 DOM
10. 2026-06-09
    days on market $90,000 Active 68 DOM
11. 2026-06-08
    days on market $90,000 Active 67 DOM
12. 2026-06-07
    days on market $90,000 Active 66 DOM
13. 2026-06-05
    days on market $90,000 Active 63 DOM
14. 2026-06-02
    days on market $90,000 Active 61 DOM
15. 2026-06-01
    days on market $90,000 Active 60 DOM
16. 2026-05-31
    days on market $90,000 Active 59 DOM
17. 2026-05-30
    days on market $90,000 Active 58 DOM
18. 2026-04-02
    listed $90,000 Active 371-char remark

    Show marketing remark (371 chars)

    INVESTOR SPECIAL! Bring your tools and vision to this 2-bedroom, 2-bathroom home on Summer Street. Located on a 0.34 acre lot just minutes from Oaklawn and Downtown Hot Springs, this 1,288 sq ft home is the ultimate canvas for a fix and flip or a custom renovation. This property offers incredible potential in a prime location. Don't miss out on this high value project!

19. 2026-03-31
    listed $90,000 New Listing 371-char remark

    Show marketing remark (371 chars)

    INVESTOR SPECIAL! Bring your tools and vision to this 2-bedroom, 2-bathroom home on Summer Street. Located on a 0.34 acre lot just minutes from Oaklawn and Downtown Hot Springs, this 1,288 sq ft home is the ultimate canvas for a fix and flip or a custom renovation. This property offers incredible potential in a prime location. Don't miss out on this high value project!

20. 2022-11-26
    historical
21. 2022-10-31
    soldstatus $38,000
22. 2022-10-12
    listed $45,000
23. 2022-09-19
    price $114,900
24. 2022-09-03
    listed $130,000 New Listing

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast AR · Resets to sale price

• Current annual tax: $508 · $42/mo
• Projected year-2 tax: $576 · $48/mo
• Expected delta: +$68/yr (+$6/mo · 13.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥111°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 9% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,476
• − Mortgage interest: −$5,041
• − Property taxes: −$508
• − Insurance: −$450
• − Repairs & maintenance: −$1,158
• − Management: −$1,158
• − Depreciation: −$2,618
• Taxable income: $3,542
• Est. tax owed @ 24.0%: −$850
• After-tax cash flow: $3,964/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Hot Springs School District
• NCES district ID: 0507890
• Math proficiency: 24% ▼ -15.00%
• Reading proficiency: 25% ▼ -12.00%
• Median HH income: $28,817
• Composite: 19.62/100
• National rank: #8746
• State rank: #195 of 238 in AR

Livability — Hot Springs

• Score: 65/100
• State rank: #140
• US rank: #12498

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment D- Housing A+ Health & safety A- User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hot Springs, AR
• County: Garland County · 76,414 people
• City population: 76,414
• Metro: Hot Springs, AR
• Population (ZIP): 47,477
• Household income: $56,010
• Rent vs Own: 34.3% rent · 65.7% own
• Severe rent burden: 1442.0

Population outlook (Garland County) Hauer SSP2

• Today (2025): 100,343 people
• By 2030: 101,880 · +1.5%
• By 2040: 104,804 · +4.4%
• By 2050: 107,292 · +6.9%
• By 2075: 113,182 · +12.8%
• By 2100: 112,247 · +11.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Hispanic / Latino 8% Black 8% Two or more races 6% Asian 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 7% Other Indo-European 1%

Political lean MEDSL · Garland

• 2024 margin: Solid R (+36.2) · D 30.8% · R 67.0% · Other 2.2%
• 2008→2024 swing: -11.3pp toward R · 2008: -25.0pp · 2024: -36.2pp
• All cycles: 2024: R+36.2 2020: R+34.0 2016: R+34.1 2012: R+29.9 2008: R+25.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -137.67%
• Current HPI: 268.5228
• Rent YoY: ▲ 6.43%
• Metro: Hot Springs, AR
• State GDP YoY: ▲ 3.80%
• F500 in state: 10

Industry mix (Fortune 500 HQ in AR)

Industry	F500 HQs	Revenue
▸Retail	1	$681B
▸Food / Agriculture	1	$53B
▸Retail / Energy	1	$22B
▸Transportation / Logistics	1	$12B
▸Energy	1	$4B

Price history

-30.8% since first listed

7 events — show timeline

• 2026-04-02 Listed $90,000 HSBOR
• 2026-03-31 Listed $90,000 CARMLS
• 2022-11-26 Listing Removed — CARMLS
• 2022-10-31 Sold (MLS) $38,000 HSBOR
• 2022-10-12 Listed $45,000 HSBOR
• 2022-09-19 Price Changed $114,900 CARMLS
• 2022-09-03 Listed $130,000 CARMLS

Property tax history

+11.2%/yr

Latest (2025): $508 · -1.3% YoY. Source: county tax records.