21283 Pine Dr · Lost Bridge Village, AR 72732

$627,000

3 bd · 2.5 ba · 1,710 sqft · SingleFamily public records · 122 Days on market

Built 1984 0.37 ac lot Est $469k · 34% over $14/mo HOA

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Why this score? — see what drove the F 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 +9.6/30.0
• Appreciation +8.8/10.0
• Schools +3.9/10.0
• Livability +2.9/5.0
• DSCR +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.7/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

One of the most unique homes in the Lost Bridge Village, designed and built by the architect Charles Willis. Charles earned a five-year degree in architecture from UA, where he studied under the guidance of renowned architect Fay Jones. This home is built into and under the bluffs that parallel Pine Drive. Rock ceilings, and walls in the master bath and living area. 2 of the roofs are concrete with several inches of dirt and grass. Concrete floor in living area has been scored to match the concrete lattice in the ceiling. Lost Bridge amenities include: community swimming pool, playground, airstrip, library, tennis courts, and recreational center. Needs updates to make it your own. A very unique marketing opportunity for nightly rentals. Sold as is, no repairs. Cash offers or appraisal gap wording greatly appreciated.

Key facts

• Fully renovated
• Natural cave
• Two unit property

Tags

• TWO UNIT PROPERTY
• FULLY RENOVATED
• NATURAL CAVE
• EXPOSED CAVE WALLS
• STACKED ROCK ACCENTS
• SPIRAL STAIRCASE

Property features AI

Finance

• HOA & community: Member of Lost Bridge Village association; Association fee: $164 annually; Community features include biking, lake access, nearby national forest and state park, parks and trails/paths

Exterior

• Parking: RV access/parking
• Security: Security system; Smoke detectors
• Utilities: Public water; Septic (septic tank); Electricity available; Natural gas available; Cable available
• Home design: 2-story home; Wood siding; Slab foundation; Has view
• Construction: Wood siding construction; Approximately 25 years or older
• Exterior features: Corner lot, landscaped and level; Concrete driveway; Deck; Patio; Porch; Near park; Resort property setting; Beaver Lake view

Interior

• Kitchen: Convection oven; Electric cooktop; Electric oven; Electric range; Microwave; Dishwasher; Refrigerator; Granite counters; Eat-in kitchen; ENERGY STAR qualified appliances
• Flooring: Luxury vinyl plank
• Bathrooms: 3 full bathrooms; 1 half bathroom
• Heating & cooling: Ductless heating; Ductless cooling; Programmable thermostat
• Interior features: Wet bar; Built-in features; Ceiling fans; Eat-in kitchen; Granite counters; Programmable thermostat; Split bedroom floor plan; Walk-in closets; Window treatments; Double-pane windows with blinds; Wood burning stove / fireplace
• Laundry & utility: Washer hookup; Dryer hookup; Washer; Dryer; Tankless water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $627k.

Deal economics

• At list price, monthly cash flow is $-421 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $553k (11.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $417k (33.4% below list).
• Recommended offer: $417k (33.4% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 2.8% in Lost Bridge Village — 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 57/100 on livability (#348 in AR) — a working-class tenant base; expect higher turnover. Strengths: housing A+, crime B+, employment B; Watch: cost of living C-, schools F, amenities F.
• Rogers School District (urban): math 45% / reading 45% proficiency, ranked #31 of 238 in AR (top 13%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 129 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 4,359 units permitted in Benton County in 2024 (402 in 5+ unit buildings).

Forward outlook

• In year one you build about $52k of equity ($4k loan paydown + $48k appreciation (7.6% local appreciation)).
• Benton County population projected at +56% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$83k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 122 days — a 12% lower offer ($552k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $102k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $162k; list at $627k implies a 287% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $417,412 (33.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 122 days. Have you received any prior offers? Is the seller open to a 33% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.67% ✗
• Cap rate: 5.49%
• Cash-on-cash: -2.88%
• DSCR: 0.87
• GRM: 12.5

CMA / ARV

• ARV (on-the-fly): $468,540
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11566 Hickory Dr	0.22mi	4/2.5 (+1)	1,856 (+8%)	8mo	$265,000	$143	64
11872 White Oak Dr	0.55mi	3/2.5	1,696 (-1%)	15mo	$465,000	$274	60
11747 Dogwood Dr	0.40mi	3/2.0	1,536 (-10%)	7mo	$208,000	$135	56
21311 Ridgeview Dr	0.34mi	3/2.0	1,860 (+9%)	20mo	$575,000	$309	51

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

Projected returns pro-forma

7.61% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.9%
• Equity multiple: 2.23×
• Total profit: $215,510
• Equity at exit: $459,702

10-year hold

• IRR: 16.2%
• Equity multiple: 4.67×
• Total profit: $644,382
• Equity at exit: $897,070

Cash invested: $175,560 (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 72732

• Home prices YoY: 2.1%
• Active inventory: 129
• Price-to-rent: 12.5×

Monthly cashflow live

• Estimated rent: $4,174 medium
• Mortgage (P&I): −$3,288
• Tax from tax record: −$155 /mo · $1,863/yr
• Insurance: −$261
• HOA: −$14
• Vacancy / Maint / Mgmt: −$877
• Net cashflow: $-421

Break-even live

Break-even rent $4,707

Max offer price $552,622

Occupancy floor —

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: $156,750
• Closing costs: $18,810
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11889 White Oak Dr Unit 1221899P Garfield, AR	3.0	2.0	1280	$5,605	$4.38	43d	1	0.59mi
10800 Red Bluff Rd Garfield, AR	2.0	2.0	1500	$2,250	$1.50	23d	1	0.92mi

HOA detail

• Monthly dues: $14 · $168/yr
• Likely covers: pool

Listing history 29 events

1. 2026-06-18
   days on market $627,000 Active 122 DOM
2. 2026-06-17
   days on market $627,000 Active 121 DOM
3. 2026-06-16
   days on market $627,000 Active 120 DOM
4. 2026-06-15
   days on market $627,000 Active 119 DOM
5. 2026-06-14
   days on market $627,000 Active 117 DOM
6. 2026-06-13
   days on market $627,000 Active 116 DOM
7. 2026-06-10
   days on market $627,000 Active 114 DOM
8. 2026-06-09
   days on market $627,000 Active 113 DOM
9. 2026-06-08
   days on market $627,000 Active 112 DOM
10. 2026-06-07
    days on market $627,000 Active 111 DOM
11. 2026-06-05
    days on market $627,000 Active 108 DOM
12. 2026-06-03
    days on market $627,000 Active 107 DOM
13. 2026-06-02
    days on market $627,000 Active 106 DOM
14. 2026-06-01
    days on market $627,000 Active 105 DOM
15. 2026-05-31
    days on market $627,000 Active 104 DOM
16. 2026-05-31
    days on market $627,000 Active 103 DOM
17. 2026-04-30
    price $649,999
18. 2026-04-17
    price $669,999
19. 2026-03-02
    price $699,000
20. 2026-02-16
    listed $729,000 Active
21. 2022-10-20
    soldstatus $162,000
22. 2022-10-14
    soldstatus $162,000 Closed 829-char remark

    Show marketing remark (829 chars)

    One of the most unique homes in the Lost Bridge Village, designed and built by the architect Charles Willis. Charles earned a five-year degree in architecture from UA, where he studied under the guidance of renowned architect Fay Jones. This home is built into and under the bluffs that parallel Pine Drive. Rock ceilings, and walls in the master bath and living area. 2 of the roofs are concrete with several inches of dirt and grass. Concrete floor in living area has been scored to match the concrete lattice in the ceiling. Lost Bridge amenities include: community swimming pool, playground, airstrip, library, tennis courts, and recreational center. Needs updates to make it your own. A very unique marketing opportunity for nightly rentals. Sold as is, no repairs. Cash offers or appraisal gap wording greatly appreciated.

23. 2022-09-03
    status Pending 829-char remark

    Show marketing remark (829 chars)

    One of the most unique homes in the Lost Bridge Village, designed and built by the architect Charles Willis. Charles earned a five-year degree in architecture from UA, where he studied under the guidance of renowned architect Fay Jones. This home is built into and under the bluffs that parallel Pine Drive. Rock ceilings, and walls in the master bath and living area. 2 of the roofs are concrete with several inches of dirt and grass. Concrete floor in living area has been scored to match the concrete lattice in the ceiling. Lost Bridge amenities include: community swimming pool, playground, airstrip, library, tennis courts, and recreational center. Needs updates to make it your own. A very unique marketing opportunity for nightly rentals. Sold as is, no repairs. Cash offers or appraisal gap wording greatly appreciated.

24. 2022-07-29
    status Active 829-char remark

    Show marketing remark (829 chars)

    One of the most unique homes in the Lost Bridge Village, designed and built by the architect Charles Willis. Charles earned a five-year degree in architecture from UA, where he studied under the guidance of renowned architect Fay Jones. This home is built into and under the bluffs that parallel Pine Drive. Rock ceilings, and walls in the master bath and living area. 2 of the roofs are concrete with several inches of dirt and grass. Concrete floor in living area has been scored to match the concrete lattice in the ceiling. Lost Bridge amenities include: community swimming pool, playground, airstrip, library, tennis courts, and recreational center. Needs updates to make it your own. A very unique marketing opportunity for nightly rentals. Sold as is, no repairs. Cash offers or appraisal gap wording greatly appreciated.

25. 2022-07-29
    price $219,000 829-char remark

    Show marketing remark (829 chars)

    One of the most unique homes in the Lost Bridge Village, designed and built by the architect Charles Willis. Charles earned a five-year degree in architecture from UA, where he studied under the guidance of renowned architect Fay Jones. This home is built into and under the bluffs that parallel Pine Drive. Rock ceilings, and walls in the master bath and living area. 2 of the roofs are concrete with several inches of dirt and grass. Concrete floor in living area has been scored to match the concrete lattice in the ceiling. Lost Bridge amenities include: community swimming pool, playground, airstrip, library, tennis courts, and recreational center. Needs updates to make it your own. A very unique marketing opportunity for nightly rentals. Sold as is, no repairs. Cash offers or appraisal gap wording greatly appreciated.

26. 2022-05-25
    status Pending 829-char remark

    Show marketing remark (829 chars)

    One of the most unique homes in the Lost Bridge Village, designed and built by the architect Charles Willis. Charles earned a five-year degree in architecture from UA, where he studied under the guidance of renowned architect Fay Jones. This home is built into and under the bluffs that parallel Pine Drive. Rock ceilings, and walls in the master bath and living area. 2 of the roofs are concrete with several inches of dirt and grass. Concrete floor in living area has been scored to match the concrete lattice in the ceiling. Lost Bridge amenities include: community swimming pool, playground, airstrip, library, tennis courts, and recreational center. Needs updates to make it your own. A very unique marketing opportunity for nightly rentals. Sold as is, no repairs. Cash offers or appraisal gap wording greatly appreciated.

27. 2022-04-29
    listed $249,000 Active 829-char remark

    Show marketing remark (829 chars)

    One of the most unique homes in the Lost Bridge Village, designed and built by the architect Charles Willis. Charles earned a five-year degree in architecture from UA, where he studied under the guidance of renowned architect Fay Jones. This home is built into and under the bluffs that parallel Pine Drive. Rock ceilings, and walls in the master bath and living area. 2 of the roofs are concrete with several inches of dirt and grass. Concrete floor in living area has been scored to match the concrete lattice in the ceiling. Lost Bridge amenities include: community swimming pool, playground, airstrip, library, tennis courts, and recreational center. Needs updates to make it your own. A very unique marketing opportunity for nightly rentals. Sold as is, no repairs. Cash offers or appraisal gap wording greatly appreciated.

28. 2012-07-31
    soldstatus $75,000
29. 2012-06-26
    soldstatus $75,000

ⓘ 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: $1,863 · $155/mo
• Projected year-2 tax: $4,013 · $334/mo
• Expected delta: +$2,149/yr (+$179/mo · 115.3%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥105°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $50,089
• − Mortgage interest: −$35,122
• − Property taxes: −$1,863
• − Insurance: −$3,135
• − Repairs & maintenance: −$4,007
• − Management: −$4,007
• − HOA: −$168
• − Depreciation: −$18,240
• Taxable loss: −$16,453
• Est. tax savings @ 24.0%: +$3,949
• After-tax cash flow: $-1,104/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: Rogers School District
• NCES district ID: 0511970
• Math proficiency: 45% ▼ -9.00%
• Reading proficiency: 45% ▼ -9.00%
• Median HH income: $51,712
• Composite: 38.81/100
• National rank: #4113
• State rank: #31 of 238 in AR

Livability — Lost Bridge Village

• Score: 57/100
• State rank: #348
• US rank: #21912

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lost Bridge Village, AR
• Population (ZIP): 5,493

Population outlook (Benton County) Hauer SSP2

• Today (2025): 318,683 people
• By 2030: 353,481 · +10.9%
• By 2040: 425,280 · +33.4%
• By 2050: 497,239 · +56.0%
• By 2075: 662,114 · +107.8%
• By 2100: 776,431 · +143.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 65% Two or more races 27% Hispanic / Latino 11% Native American 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 3% Danish 2% Lithuanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 3%

Political lean MEDSL · Benton

• 2024 margin: Strong R (+27.0) · D 35.2% · R 62.1% · Other 2.7%
• 2008→2024 swing: +9.6pp toward D · 2008: -36.5pp · 2024: -27.0pp
• All cycles: 2024: R+27.0 2020: R+26.4 2016: R+34.9 2012: R+40.4 2008: R+36.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.61%
• Current HPI: 368.3932
• Rent YoY: —
• Metro: —
• 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

+766.7% since first listed

13 events — show timeline

• 2026-04-30 Price Changed $649,999 NWARMLS
• 2026-04-17 Price Changed $669,999 NWARMLS
• 2026-03-02 Price Changed $699,000 NWARMLS
• 2026-02-16 Listed $729,000 NWARMLS
• 2022-10-20 Sold (Public Records) $162,000 Public Records
• 2022-10-14 Sold (MLS) $162,000 NWARMLS
• 2022-09-03 Pending — NWARMLS
• 2022-07-29 Relisted — NWARMLS
• 2022-07-29 Price Changed $219,000 NWARMLS
• 2022-05-25 Pending — NWARMLS
• 2022-04-29 Listed $249,000 NWARMLS
• 2012-07-31 Sold (Public Records) $75,000 Public Records
• 2012-06-26 Sold (Public Records) $75,000 Public Records

Property tax history

+3.0%/yr

Latest (2025): $1,863 · -21.2% YoY. Source: county tax records.