131 W Main St · Evening Shade, AR 72532

$95,900

4 bd · 1.0 ba · 2,068 sqft · SingleFamily public records · 131 Days on market

Built 1870 1.20 ac lot $46/sqft · 50% below area Est $191k · 50% under

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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 +8.5/10.0
• Appreciation +5.0/10.0
• Schools +3.2/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Step into a piece of Arkansas history with this truly iconic Coger house built in 1870 by Polk Jones in Evening Shade, Arkansas, made famous by the Burt Reynolds series. Offering 2,068 sq ft and set on over an acre, this property is overflowing with character, charm, and endless possibilities. Original solid wood floors, wide-plank wood walls and ceilings, and timeless craftsmanship tell a story you simply can't recreate today. A new metal roof adds peace of mind while preserving the home's historic integrity. Whether envisioned as a stunning full-time residence, a weekend retreat, or a one-of-a-kind Airbnb or short-term rental, this home is a rare opportunity to own something truly unique. Surrounded by history, & small-town charm, homes like this don't come around often.

Key facts

• New metal roof
• Small-town charm
• Historic integrity

Tags

• ORIGINAL SOLID WOOD FLOORS
• WIDE-PLANK WOOD WALLS
• NEW METAL ROOF
• HISTORIC INTEGRITY
• SMALL-TOWN CHARM

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $96k.

Deal economics

• At list price, monthly cash flow is $453 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $96k).
• Recommended offer: $84k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#268 in AR) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, crime F, amenities F.
• Cave City School District (rural): math 38% / reading 40% proficiency, ranked #87 of 238 in AR (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 22 active listings in the ZIP; 4 units permitted in Sharp County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($663 loan paydown + $3k appreciation (3.0% local appreciation)).
• Sharp County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 131 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $29k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $10k; list at $96k implies a 859% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1870 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $84,392 (12.0% below list)

Questions for the listing agent

1. It's been on market 131 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1870 — 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 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?
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: 1.35% ✓
• Cap rate: 11.97%
• Cash-on-cash: 20.26%
• DSCR: 1.90
• GRM: 6.2

CMA / ARV

• ARV (median comp): $190,688
• List price: $95,900
• Delta: -49.71%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 26.5%
• Equity multiple: 2.50×
• Total profit: $40,390
• Equity at exit: $43,121

10-year hold

• IRR: 27.2%
• Equity multiple: 4.85×
• Total profit: $103,281
• Equity at exit: $66,454

Cash invested: $26,852 (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 72532

• Active inventory: 22
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,295 medium
• Mortgage (P&I): −$503
• Tax from tax record: −$27 /mo · $319/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$272
• Net cashflow: $453

Break-even live

Break-even rent $721

Max offer price $95,900

Occupancy floor 60%

Sensitivity live

Price	-10% $508	-5% $481	+0% $453	+5% $426	+10% $399
Rent	-10% $351	-5% $402	+0% $453	+5% $505	+10% $556
Rate	-1.0pp $502	-0.5pp $478	base $453	+0.5pp $429	+1.0pp $403

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: $23,975
• Closing costs: $2,877
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $95,900 Active 131 DOM
2. 2026-06-19
   days on market $95,900 Active 129 DOM
3. 2026-06-18
   days on market $95,900 Active 128 DOM
4. 2026-06-17
   days on market $95,900 Active 127 DOM
5. 2026-06-16
   days on market $95,900 Active 126 DOM
6. 2026-06-15
   days on market $95,900 Active 125 DOM
7. 2026-06-14
   days on market $95,900 Active 123 DOM
8. 2026-06-12
   days on market $95,900 Active 122 DOM
9. 2026-06-09
   days on market $95,900 Active 119 DOM
10. 2026-06-08
    days on market $95,900 Active 118 DOM
11. 2026-06-07
    days on market $95,900 Active 117 DOM
12. 2026-06-07
    days on market $95,900 Active 116 DOM
13. 2026-06-02
    days on market $95,900 Active 112 DOM
14. 2026-06-01
    days on market $95,900 Active 111 DOM
15. 2026-05-31
    days on market $95,900 Active 110 DOM
16. 2026-05-30
    days on market $95,900 Active 109 DOM
17. 2026-04-24
    price $95,900 788-char remark

    Show marketing remark (789 chars)

    Step into a piece of Arkansas history with this truly iconic Coger house built in 1870 by Polk Jones in Evening Shade, Arkansas, made famous by the Burt Reynolds series. Offering 2,068 sq ft and set on over an acre, this property is overflowing with character, charm, and endless possibilities. Original solid wood floors, wide-plank wood walls and ceilings, and timeless craftsmanship tell a story you simply can't recreate today. A new metal roof adds peace of mind while preserving the home's historic integrity. Whether envisioned as a stunning full-time residence, a weekend retreat, or a one-of-a-kind Airbnb or short-term rental, this home is a rare opportunity to own something truly unique. Surrounded by history, & small-town charm, homes like this don't come around often.

18. 2026-04-24
    price $95,900 789-char remark

    Show marketing remark (789 chars)

    Step into a piece of Arkansas history with this truly iconic Coger house built in 1870 by Polk Jones in Evening Shade, Arkansas, made famous by the Burt Reynolds series. Offering 2,068 sq ft and set on over an acre, this property is overflowing with character, charm, and endless possibilities. Original solid wood floors, wide-plank wood walls and ceilings, and timeless craftsmanship tell a story you simply can't recreate today. A new metal roof adds peace of mind while preserving the home's historic integrity. Whether envisioned as a stunning full-time residence, a weekend retreat, or a one-of-a-kind Airbnb or short-term rental, this home is a rare opportunity to own something truly unique. Surrounded by history, & small-town charm, homes like this don't come around often.

19. 2026-02-10
    listed $124,900 Active 789-char remark

    Show marketing remark (788 chars)

    Step into a piece of Arkansas history with this truly iconic Coger house built in 1870 by Polk Jones in Evening Shade, Arkansas, made famous by the Burt Reynolds series. Offering 2,068 sq ft and set on over an acre, this property is overflowing with character, charm, and endless possibilities. Original solid wood floors, wide-plank wood walls and ceilings, and timeless craftsmanship tell a story you simply can't recreate today. A new metal roof adds peace of mind while preserving the home's historic integrity. Whether envisioned as a stunning full-time residence, a weekend retreat, or a one-of-a-kind Airbnb or short-term rental, this home is a rare opportunity to own something truly unique. Surrounded by history, & small-town charm, homes like this don't come around often.

20. 2026-02-10
    listed $124,900 New Listing 788-char remark

    Show marketing remark (788 chars)

    Step into a piece of Arkansas history with this truly iconic Coger house built in 1870 by Polk Jones in Evening Shade, Arkansas, made famous by the Burt Reynolds series. Offering 2,068 sq ft and set on over an acre, this property is overflowing with character, charm, and endless possibilities. Original solid wood floors, wide-plank wood walls and ceilings, and timeless craftsmanship tell a story you simply can't recreate today. A new metal roof adds peace of mind while preserving the home's historic integrity. Whether envisioned as a stunning full-time residence, a weekend retreat, or a one-of-a-kind Airbnb or short-term rental, this home is a rare opportunity to own something truly unique. Surrounded by history, & small-town charm, homes like this don't come around often.

21. 2002-06-04
    soldstatus $10,000

ⓘ 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: $319 · $27/mo
• Projected year-2 tax: $614 · $51/mo
• Expected delta: +$295/yr (+$25/mo · 92.7%)

ⓘ 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 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥110°F today · 20 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,536
• − Mortgage interest: −$5,372
• − Property taxes: −$319
• − Insurance: −$480
• − Repairs & maintenance: −$1,243
• − Management: −$1,243
• − Depreciation: −$2,790
• Taxable income: $4,091
• Est. tax owed @ 24.0%: −$982
• After-tax cash flow: $4,459/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: Cave City School District
• NCES district ID: 0504050
• Math proficiency: 38% ▼ -12.00%
• Reading proficiency: 40% ▼ -8.00%
• Median HH income: $33,795
• Composite: 32.11/100
• National rank: #5801
• State rank: #87 of 238 in AR

Livability — Evening Shade

• Score: 60/100
• State rank: #268
• US rank: #19206

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Evening Shade, AR
• Population (ZIP): 1,039

Population outlook (Sharp County) Hauer SSP2

• Today (2025): 16,170 people
• By 2030: 15,711 · -2.8%
• By 2040: 14,974 · -7.4%
• By 2050: 14,420 · -10.8%
• By 2075: 13,235 · -18.2%
• By 2100: 11,492 · -28.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 10% Hispanic / Latino 3%
• Common ancestry: Iranian 2% Serbian 2% Italian 2%
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Sharp

• 2024 margin: Solid R (+62.7) · D 17.7% · R 80.4% · Other 1.9%
• 2008→2024 swing: -33.7pp toward R · 2008: -28.9pp · 2024: -62.7pp
• All cycles: 2024: R+62.7 2020: R+60.0 2016: R+54.7 2012: R+38.8 2008: R+28.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+859.0% since first listed

5 events — show timeline

• 2026-04-24 Price Changed $95,900 CARMLS
• 2026-04-24 Price Changed $95,900 Batesville
• 2026-02-10 Listed $124,900 Batesville
• 2026-02-10 Listed $124,900 CARMLS
• 2002-06-04 Sold (Public Records) $10,000 Public Records

Property tax history

-2.2%/yr

Latest (2025): $319 · +0.0% YoY. Source: county tax records.