60 Clay St · Eureka Springs, AR 72632

$194,000

2 bd · 1.0 ba · 828 sqft · SingleFamily public records · 54 Days on market

Built 1950 3,354 sqft lot $234/sqft · 21% below area Est $247k · 21% under

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +7.2/30.0
• Appreciation +4.1/10.0
• Schools +3.5/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.4/10.0
• 1% rule +0.9/10.0

Listing remarks MLS

Quaint and cozy 2 bedroom Eureka Springs Cottage located just a short 5 minute walk from all that downtown Eureka has to offer. Location is key with this lovely and tucked away oasis. Perched at the top of Benton Street and just behind the Eureka Springs Community Center is a tiny wooded, dead end side street, with only 3 homes. This is where you can relax and unwind at the end of your day. Whether you intend to use this cottage as a full time residence or just a get away from your regular grind, this pocket of paradise, tucked in the towering pine trees is the perfect escape! This home is certainly ready to embrace its new future. Enjoy it in true Eureka style, as it is, or go all out with a full remodel. Scoop up this little gem and show it how to shine! Opportunities like this are becoming more rare with each passing day, carpe diem. I believe with some good old fashioned elbow grease, a solid plan and a minimal budget that truly impactful upgrades could be achieved with stunning results in this adorable home.

Key facts

• 3,354 sq ft lot
• Built 1950
• Listed 54 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $194k.

Deal economics

• At list price, monthly cash flow is $-265 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $147k (24.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $115k (40.7% below list).
• Recommended offer: $115k (40.7% below list) — sets the bar for 1% rule.
• Cap rate 4.7% vs local median 1.7% in Eureka 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 68/100 on livability (#78 in AR) — a middle-class / working-renter tenant base. Strengths: cost of living A+; Watch: crime C-, health & safety C-, amenities D.
• Eureka Springs School District (rural): math 37% / reading 46% proficiency, ranked #61 of 238 in AR (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 202 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 30 units permitted in Carroll County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-1.8%/yr); year-one equity from $1k of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Carroll County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 54 days — a 3% lower offer ($188k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $21k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $168k; 15% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $115,101 (40.7% 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 54 days. Have you received any prior offers? Is the seller open to a 41% concession, seller financing, or rate buy-down credit?
3. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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?
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: 0.59% ✗
• Cap rate: 4.65%
• Cash-on-cash: -5.85%
• DSCR: 0.74
• GRM: 14.0

CMA / ARV

• ARV (median comp): $247,012
• List price: $194,000
• Delta: -21.46%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
60 Clay St	0.00mi	2/1.0	828 (0%)	0mo	$165,000	$199	100
50 Nova	0.26mi	2/1.0	844 (+2%)	23mo	$200,000	$237	65
25 Pine St	0.56mi	2/1.0	826 (-0%)	20mo	$310,000	$375	57
17 Berryville Ave	0.62mi	2/1.0	728 (-12%)	1mo	$160,000	$220	50
19 First St	0.50mi	2/1.5	946 (+14%)	9mo	$339,000	$358	43
4 College St	0.49mi	2/1.0	936 (+13%)	15mo	$275,500	$294	43
8 Armstrong St	0.42mi	2/1.0	732 (-12%)	23mo	$329,255	$450	42

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

Projected returns pro-forma

-1.79% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -17.9%
• Equity multiple: 0.29×
• Total profit: $-38,377
• Equity at exit: $39,586

10-year hold

• IRR: -11.2%
• Equity multiple: 0.14×
• Total profit: $-46,459
• Equity at exit: $35,668

Cash invested: $54,320 (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 72632

• Home prices YoY: -0.6%
• Active inventory: 202
• Price-to-rent: 14.0×

Monthly cashflow live

• Estimated rent: $1,151 medium
• Mortgage (P&I): −$1,017
• Tax from tax record: −$76 /mo · $913/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $-265

Break-even live

Break-even rent $1,486

Max offer price $147,190

Occupancy floor —

Sensitivity live

Price	-10% $-155	-5% $-210	+0% $-265	+5% $-320	+10% $-375
Rent	-10% $-356	-5% $-310	+0% $-265	+5% $-220	+10% $-174
Rate	-1.0pp $-167	-0.5pp $-216	base $-265	+0.5pp $-315	+1.0pp $-366

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: $48,500
• Closing costs: $5,820
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15 Pivot Rock Rd Eureka Springs, AR	2.0	1.5	1000	$985	$0.98	14d	1	0.75mi
122 Frontage Rd Unit 2 Eureka Springs, AR	1.0	1.0	650	$1,300	$2.00	22d	1	1.28mi
122 Frontage Rd Unit 2 Eureka Springs, AR	1.0	1.0	650	$1,300	$2.00	14d	1	1.28mi

Listing history 10 events

1. 2026-05-18
   status Pending 1028-char remark

   Show marketing remark (1028 chars)

   Quaint and cozy 2 bedroom Eureka Springs Cottage located just a short 5 minute walk from all that downtown Eureka has to offer. Location is key with this lovely and tucked away oasis. Perched at the top of Benton Street and just behind the Eureka Springs Community Center is a tiny wooded, dead end side street, with only 3 homes. This is where you can relax and unwind at the end of your day. Whether you intend to use this cottage as a full time residence or just a get away from your regular grind, this pocket of paradise, tucked in the towering pine trees is the perfect escape! This home is certainly ready to embrace its new future. Enjoy it in true Eureka style, as it is, or go all out with a full remodel. Scoop up this little gem and show it how to shine! Opportunities like this are becoming more rare with each passing day, carpe diem. I believe with some good old fashioned elbow grease, a solid plan and a minimal budget that truly impactful upgrades could be achieved with stunning results in this adorable home.

2. 2026-05-03
   price $194,000 1028-char remark

   Show marketing remark (1028 chars)

   Quaint and cozy 2 bedroom Eureka Springs Cottage located just a short 5 minute walk from all that downtown Eureka has to offer. Location is key with this lovely and tucked away oasis. Perched at the top of Benton Street and just behind the Eureka Springs Community Center is a tiny wooded, dead end side street, with only 3 homes. This is where you can relax and unwind at the end of your day. Whether you intend to use this cottage as a full time residence or just a get away from your regular grind, this pocket of paradise, tucked in the towering pine trees is the perfect escape! This home is certainly ready to embrace its new future. Enjoy it in true Eureka style, as it is, or go all out with a full remodel. Scoop up this little gem and show it how to shine! Opportunities like this are becoming more rare with each passing day, carpe diem. I believe with some good old fashioned elbow grease, a solid plan and a minimal budget that truly impactful upgrades could be achieved with stunning results in this adorable home.

3. 2026-04-16
   price $199,000 1028-char remark

   Show marketing remark (1028 chars)

   Quaint and cozy 2 bedroom Eureka Springs Cottage located just a short 5 minute walk from all that downtown Eureka has to offer. Location is key with this lovely and tucked away oasis. Perched at the top of Benton Street and just behind the Eureka Springs Community Center is a tiny wooded, dead end side street, with only 3 homes. This is where you can relax and unwind at the end of your day. Whether you intend to use this cottage as a full time residence or just a get away from your regular grind, this pocket of paradise, tucked in the towering pine trees is the perfect escape! This home is certainly ready to embrace its new future. Enjoy it in true Eureka style, as it is, or go all out with a full remodel. Scoop up this little gem and show it how to shine! Opportunities like this are becoming more rare with each passing day, carpe diem. I believe with some good old fashioned elbow grease, a solid plan and a minimal budget that truly impactful upgrades could be achieved with stunning results in this adorable home.

4. 2026-03-25
   listed $215,000 Active 1028-char remark

   Show marketing remark (1028 chars)

   Quaint and cozy 2 bedroom Eureka Springs Cottage located just a short 5 minute walk from all that downtown Eureka has to offer. Location is key with this lovely and tucked away oasis. Perched at the top of Benton Street and just behind the Eureka Springs Community Center is a tiny wooded, dead end side street, with only 3 homes. This is where you can relax and unwind at the end of your day. Whether you intend to use this cottage as a full time residence or just a get away from your regular grind, this pocket of paradise, tucked in the towering pine trees is the perfect escape! This home is certainly ready to embrace its new future. Enjoy it in true Eureka style, as it is, or go all out with a full remodel. Scoop up this little gem and show it how to shine! Opportunities like this are becoming more rare with each passing day, carpe diem. I believe with some good old fashioned elbow grease, a solid plan and a minimal budget that truly impactful upgrades could be achieved with stunning results in this adorable home.

5. 2024-11-05
   soldstatus $168,000
6. 2024-11-01
   soldstatus $168,000 Closed 218-char remark

   Show marketing remark (218 chars)

   Cozy little 2 bed, 1 bath home for you to own in the heart of Eureka Springs, Easy Walk to downtown shopping and fine restaurants or all sorts of entertainment and adventures. This would also make a great rental, also.

7. 2024-07-31
   status Pending 218-char remark

   Show marketing remark (218 chars)

   Cozy little 2 bed, 1 bath home for you to own in the heart of Eureka Springs, Easy Walk to downtown shopping and fine restaurants or all sorts of entertainment and adventures. This would also make a great rental, also.

8. 2024-06-28
   listed $174,900 Active 218-char remark

   Show marketing remark (218 chars)

   Cozy little 2 bed, 1 bath home for you to own in the heart of Eureka Springs, Easy Walk to downtown shopping and fine restaurants or all sorts of entertainment and adventures. This would also make a great rental, also.

9. 1982-04-28
   soldstatus $20,000
10. 1973-03-02
    soldstatus $9,000

ⓘ 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: $913 · $76/mo
• Projected year-2 tax: $1,242 · $103/mo
• Expected delta: +$329/yr (+$27/mo · 36.0%)

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

Taxation est. · year 1

• Rental income: $13,812
• − Mortgage interest: −$10,867
• − Property taxes: −$913
• − Insurance: −$970
• − Repairs & maintenance: −$1,105
• − Management: −$1,105
• − Depreciation: −$5,644
• Taxable loss: −$6,792
• Est. tax savings @ 24.0%: +$1,630
• After-tax cash flow: $-1,550/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: Eureka Springs School District
• NCES district ID: 0505970
• Math proficiency: 37% ▼ -23.00%
• Reading proficiency: 46% ▼ -9.00%
• Median HH income: $37,912
• Composite: 34.55/100
• National rank: #5171
• State rank: #61 of 238 in AR

Livability — Eureka Springs

• Score: 68/100
• State rank: #78
• US rank: #9085

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Eureka Springs, AR
• City population: 4,550
• Population (ZIP): 4,550

Population outlook (Carroll County) Hauer SSP2

• Today (2025): 28,014 people
• By 2030: 28,006 · +-0.0%
• By 2040: 28,242 · +0.8%
• By 2050: 29,169 · +4.1%
• By 2075: 33,935 · +21.1%
• By 2100: 39,497 · +41.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 9% Hispanic / Latino 3% Native American 2%
• Common ancestry: Italian 3% Slovak 3% Serbian 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Carroll

• 2024 margin: Solid R (+31.7) · D 33.0% · R 64.7% · Other 2.2%
• 2008→2024 swing: -13.6pp toward R · 2008: -18.1pp · 2024: -31.7pp
• All cycles: 2024: R+31.7 2020: R+28.8 2016: R+32.3 2012: R+23.9 2008: R+18.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1.79%
• Current HPI: 284.3048
• 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

+2055.6% since first listed

10 events — show timeline

• 2026-05-18 Pending — NWARMLS
• 2026-05-03 Price Changed $194,000 NWARMLS
• 2026-04-16 Price Changed $199,000 NWARMLS
• 2026-03-25 Listed $215,000 NWARMLS
• 2024-11-05 Sold (Public Records) $168,000 Public Records
• 2024-11-01 Sold (MLS) $168,000 NWARMLS
• 2024-07-31 Pending — NWARMLS
• 2024-06-28 Listed $174,900 NWARMLS
• 1982-04-28 Sold (Public Records) $20,000 Public Records
• 1973-03-02 Sold (Public Records) $9,000 Public Records

Property tax history

+4.9%/yr

Latest (2025): $913 · +33.0% YoY. Source: county tax records.