118 Richwood Drive #52 Unit 52 (M-4) · Fairfield Bay, AR 72088

$115,000

2 bd · 2.0 ba · 1,218 sqft · Townhouse · 80 Days on market

Built 1980 Fair condition $94/sqft · 12% above area Est $103k · 12% over $387/mo HOA · 19% of rent

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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 +29.1/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +4.8/10.0
• Schools +3.8/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• ARV discount +2.3/15.0
• Condition / age +2.2/5.0

Listing remarks MLS

Lovely ONE-level, spacious condo is an end unit. Tasteful interior colors, wood & Carpet, vinyl & laminate flooring, energy efficient windows & exterior doors. 2 large BR, 2 full Baths, one with walk-in shower One BR has large cedar closet. Excellent furniture is included. Bright kitchen. All appliances are included Permanent entry cover. Expanded deck looks into wooded area, and during wet weather, you can hear the creek behind! In the crawlspace is an enclosed shop/storage room. Complex has a metal roof (2013). This unit has 2 covered parking spaces right in front of the walkway to the front door! Carefree & classy living. One of the best units! Don't miss this one!

Key facts

• Expanded deck
• Metal roof
• End unit

Tags

• END UNIT
• ENERGY EFFICIENT WINDOWS
• EXPANDED DECK
• ENCLOSED SHOP STORAGE ROOM
• METAL ROOF
• COVERED PARKING SPACES

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $115k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $398 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $108k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.4% vs local median 5.3% in Fairfield Bay — 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 62/100 on livability (#220 in AR) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: employment D+, schools F, amenities F.
• Shirley School District (rural): math 44% / reading 42% proficiency, ranked #132 of 245 in AR (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 259 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 16 units permitted in Van Buren County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $247 of equity ($795 loan paydown + $-548 appreciation (-0.5% local appreciation)).
• Van Buren County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-0.5% appreciation + 3.0% rent growth), your $32k 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 ($108k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y 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.

Recommended offer $108,100 (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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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. 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: 1.74% ✓
• Cap rate: 10.45%
• Cash-on-cash: 14.84%
• DSCR: 1.66
• GRM: 4.8

CMA / ARV

• ARV (median comp): $103,006
• List price: $115,000
• Delta: 11.64%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
118 Richwood Dr #49	0.17mi	2/2.0	1,218 (0%)	2mo	$80,000	$66	90
134 Richwood Dr #12	0.19mi	2/2.0	1,272 (+4%)	13mo	$132,500	$104	73
134 Richwood Dr #3	0.19mi	1/2.0 (-1)	1,095 (-10%)	1mo	$85,000	$78	69
134 Richwood #5	0.19mi	2/2.0	1,367 (+12%)	6mo	$100,000	$73	66
135 Hillview Dr #82	0.43mi	2/1.5	1,179 (-3%)	10mo	$79,900	$68	64
135 Hillview Dr #101	0.43mi	2/1.5	1,117 (-8%)	1mo	$75,000	$67	63
135 Hillview Dr #116	0.43mi	2/1.5	1,117 (-8%)	2mo	$98,000	$88	63
120 Shorthaven Ln	0.23mi	2/1.5	1,102 (-10%)	13mo	$125,000	$113	60
135 Hillview Dr #6	0.43mi	2/1.5	1,133 (-7%)	8mo	$98,000	$86	59
135 Hillview Dr #18	0.43mi	2/1.5	1,373 (+13%)	1mo	$60,000	$44	56
125 Chelsea Dr #33	0.67mi	2/2.0	1,156 (-5%)	10mo	$185,000	$160	52
135 Hillview Dr #119	0.43mi	2/1.5	1,357 (+11%)	10mo	$85,000	$63	50

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

Projected returns pro-forma

-0.48% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.1%
• Equity multiple: 1.61×
• Total profit: $19,719
• Equity at exit: $30,679

10-year hold

• IRR: 18.5%
• Equity multiple: 2.96×
• Total profit: $63,189
• Equity at exit: $34,777

Cash invested: $32,200 (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 72088

• Home prices YoY: -0.2%
• Active inventory: 259
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $2,000 medium
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,725/yr
• Insurance: −$48
• HOA: −$387
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $398

Break-even live

Break-even rent $1,496

Max offer price $115,000

Occupancy floor 75%

Sensitivity live

Price	-10% $478	-5% $438	+0% $398	+5% $359	+10% $319
Rent	-10% $240	-5% $319	+0% $398	+5% $477	+10% $556
Rate	-1.0pp $456	-0.5pp $428	base $398	+0.5pp $368	+1.0pp $338

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
106 Set Ct Fairfield Bay, AR	3.0	2.0	1300	$2,000	$1.54	45d	1	0.83mi

HOA detail

• Monthly dues: $387 · $4,644/yr

Listing history 26 events

1. 2026-06-19
   days on market $115,000 Active 80 DOM
2. 2026-06-18
   days on market $115,000 Active 79 DOM
3. 2026-06-17
   days on market $115,000 Active 78 DOM
4. 2026-06-16
   days on market $115,000 Active 77 DOM
5. 2026-06-15
   days on market $115,000 Active 76 DOM
6. 2026-06-14
   days on market $115,000 Active 74 DOM
7. 2026-06-12
   days on market $115,000 Active 73 DOM
8. 2026-06-09
   days on market $115,000 Active 70 DOM
9. 2026-06-08
   days on market $115,000 Active 69 DOM
10. 2026-06-07
    days on market $115,000 Active 68 DOM
11. 2026-06-07
    statusdays on market $115,000 Active 67 DOM
12. 2026-06-04
    days on market $115,000 Price Change 64 DOM
13. 2026-06-02
    days on market $115,000 Price Change 63 DOM
14. 2026-06-01
    days on market $115,000 Price Change 62 DOM
15. 2026-05-31
    days on market $115,000 Price Change 61 DOM
16. 2026-05-31
    days on market $115,000 Price Change 60 DOM
17. 2026-03-30
    listed $120,000 New Listing 703-char remark

    Show marketing remark (703 chars)

    Lovely ONE-level, spacious condo is an end unit. Tasteful interior colors, wood & Carpet, vinyl & laminate flooring, energy efficient windows & exterior doors. 2 large BR, 2 full Baths, one with walk-in shower One BR has large cedar closet. Excellent furniture is included. Bright kitchen. All appliances are included Permanent entry cover. Expanded deck looks into wooded area, and during wet weather, you can hear the creek behind! In the crawlspace is an enclosed shop/storage room. Complex has a metal roof (2013). This unit has 2 covered parking spaces right in front of the walkway to the front door! Carefree & classy living. One of the best units! Don't miss this one!

18. 2021-11-02
    soldstatus $105,000 Sold 504-char remark

    Show marketing remark (504 chars)

    Beautiful end unit. All one level. Spacious open floor plan, updated kitchen, large guest room and guest bath. Oversize master with additional bonus sitting room/office. Large walk in closet and nice master bath. All appliances, electric fireplace, and all TV's convey. This condo is one of a few with covered (2 spaces) parking. Also has a concrete basement that sellers used as storm shelter as well as workshop and storage. Nicely landscaped with a small stream at the back. SHOWN BY APPOINTMENT ONLY.

19. 2021-10-03
    status Under Contract 504-char remark

    Show marketing remark (504 chars)

    Beautiful end unit. All one level. Spacious open floor plan, updated kitchen, large guest room and guest bath. Oversize master with additional bonus sitting room/office. Large walk in closet and nice master bath. All appliances, electric fireplace, and all TV's convey. This condo is one of a few with covered (2 spaces) parking. Also has a concrete basement that sellers used as storm shelter as well as workshop and storage. Nicely landscaped with a small stream at the back. SHOWN BY APPOINTMENT ONLY.

20. 2021-10-02
    historical Take Backups 504-char remark

    Show marketing remark (504 chars)

    Beautiful end unit. All one level. Spacious open floor plan, updated kitchen, large guest room and guest bath. Oversize master with additional bonus sitting room/office. Large walk in closet and nice master bath. All appliances, electric fireplace, and all TV's convey. This condo is one of a few with covered (2 spaces) parking. Also has a concrete basement that sellers used as storm shelter as well as workshop and storage. Nicely landscaped with a small stream at the back. SHOWN BY APPOINTMENT ONLY.

21. 2021-09-17
    price $129,900 504-char remark

    Show marketing remark (504 chars)

    Beautiful end unit. All one level. Spacious open floor plan, updated kitchen, large guest room and guest bath. Oversize master with additional bonus sitting room/office. Large walk in closet and nice master bath. All appliances, electric fireplace, and all TV's convey. This condo is one of a few with covered (2 spaces) parking. Also has a concrete basement that sellers used as storm shelter as well as workshop and storage. Nicely landscaped with a small stream at the back. SHOWN BY APPOINTMENT ONLY.

22. 2021-09-11
    listed $150,000 New Listing 504-char remark

    Show marketing remark (504 chars)

    Beautiful end unit. All one level. Spacious open floor plan, updated kitchen, large guest room and guest bath. Oversize master with additional bonus sitting room/office. Large walk in closet and nice master bath. All appliances, electric fireplace, and all TV's convey. This condo is one of a few with covered (2 spaces) parking. Also has a concrete basement that sellers used as storm shelter as well as workshop and storage. Nicely landscaped with a small stream at the back. SHOWN BY APPOINTMENT ONLY.

23. 2017-01-03
    soldstatus $55,000 Sold
24. 2016-12-13
    status Under Contract
25. 2016-10-11
    price $62,500
26. 2016-08-04
    listed $67,500 New Listing

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 6 d/yr ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% 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: $24,000
• − Mortgage interest: −$6,442
• − Property taxes: −$1,725
• − Insurance: −$575
• − Repairs & maintenance: −$1,920
• − Management: −$1,920
• − HOA: −$4,644
• − Depreciation: −$3,345
• Taxable income: $3,429
• Est. tax owed @ 24.0%: −$823
• After-tax cash flow: $3,956/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This end-unit townhouse requires moderate repairs and maintenance to improve its condition and value. New siding, paint, and carpet would significantly enhance its curb appeal and interior comfort.

Repairs flagged

• Major Siding — Severe weathering and peeling
• Major Paint — Worn and peeling paint
• Major Carpet — Worn and in need of replacement

Value-add opportunities

• Both New siding and paint — Enhances curb appeal and interior aesthetics
• Both New carpet — Improves comfort and reduces maintenance
• Both Landscaping — Enhances curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Siding · Severe weathering and peeling	Major	$15,000–50,000
Paint · Worn and peeling paint	Major	$15,000–50,000
Carpet · Worn and in need of replacement	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both New siding and paint — Enhances curb appeal and interior aesthetics ↑
• Both New carpet — Improves comfort and reduces maintenance ↑
• Both Landscaping — Enhances curb appeal and property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Shirley School District
• NCES district ID: 0512420
• Math proficiency: 44% ▲ 4.00%
• Reading proficiency: 42% ▲ 1.00%
• Median HH income: $36,296
• Composite: 37.98/100
• National rank: #8669
• State rank: #132 of 245 in AR

Livability — Fairfield Bay

• Score: 62/100
• State rank: #220
• US rank: #16778

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fairfield Bay, AR
• City population: 2,264
• Population (ZIP): 2,264

Population outlook (Van Buren County) Hauer SSP2

• Today (2025): 15,459 people
• By 2030: 14,645 · -5.3%
• By 2040: 12,918 · -16.4%
• By 2050: 11,263 · -27.1%
• By 2075: 7,870 · -49.1%
• By 2100: 4,918 · -68.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 6% Two or more races 3% Asian 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Lithuanian 9% Iranian 2% Romanian 2%
• Foreign-born: 3% · Canada, Dominican Republic
• Languages at home: 94% English-only · Other Asian/Pacific 4% Tagalog/Filipino 1% Spanish 1%

Political lean MEDSL · Van Buren

• 2024 margin: Solid R (+60.2) · D 18.9% · R 79.0% · Other 2.1%
• 2008→2024 swing: -28.5pp toward R · 2008: -31.7pp · 2024: -60.2pp
• All cycles: 2024: R+60.2 2020: R+56.9 2016: R+53.9 2012: R+39.5 2008: R+31.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.48%
• Current HPI: 238.2694
• 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

+77.8% since first listed

10 events — show timeline

• 2026-03-30 Listed $120,000 CARMLS
• 2021-11-02 Sold (MLS) $105,000 CARMLS
• 2021-10-03 Pending — CARMLS
• 2021-10-02 Contingent — CARMLS
• 2021-09-17 Price Changed $129,900 CARMLS
• 2021-09-11 Listed $150,000 CARMLS
• 2017-01-03 Sold (MLS) $55,000 CARMLS
• 2016-12-13 Pending — CARMLS
• 2016-10-11 Price Changed $62,500 CARMLS
• 2016-08-04 Listed $67,500 CARMLS