409 S Spring St · Searcy, AR 72143

$210,000

5 bd · 2.0 ba · 2,742 sqft · SingleFamily public records · 124 Days on market

Built 1915 0.72 ac lot $77/sqft · 7% below area Est $247k · 15% 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 +14.2/15.0
• Cash flow +10.2/30.0
• Schools +3.8/10.0
• Livability +3.5/5.0
• DSCR +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Historic property with great bones and endless potential! Situated on 3 lots and zoned residential or commercial, this property features a newer metal roof and newer windows. The main building is configured as three separate living spaces, including one larger unit with kitchen, dining area, living room, two rooms, bathroom, and a large upstairs bonus room/bedroom, plus two smaller units, each with kitchen, living area, bedroom, and bathroom. The layout allows for use as a single residence or individual units. A second building at the rear was previously used as living quarters and could be restored. The property extends through wooded area with room to expand. Interior is in mid-renovation and ready for finish-out, making this a true blank canvas for investors, Airbnb, bed & breakfast, or redevelopment. Prime in-town location within a block from Beebe Capps Expressway, Spring Park and walking distance to Downtown area and many other local amenities.

Key facts

• Newer windows
• Two smaller units
• Newer metal roof

Tags

• NEWER METAL ROOF
• NEWER WINDOWS
• THREE SEPARATE LIVING SPACES
• LARGER UNIT WITH KITCHEN
• TWO SMALLER UNITS
• SECOND BUILDING AT REAR

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $-119 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $189k (10.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $145k (31.0% below list).
• Recommended offer: $145k (31.0% below list) — sets the bar for 1% rule.
• Cap rate 5.6% vs local median 3.3% in Searcy — 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 70/100 on livability (#51 in AR) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: crime D, commute F, employment F.
• Searcy School District (town): math 47% / reading 43% proficiency, ranked #37 of 238 in AR (top 16%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 173 active listings in the ZIP; 219 units permitted in White County in 2024 (36 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• White County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 124 days — a 12% lower offer ($185k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 14y ago; this cycle's ask has dropped $40k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $96k; list at $210k implies a 119% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1915 — 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 $144,957 (31.0% 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 124 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
3. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Crime grade is D 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. 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: 0.69% ✗
• Cap rate: 5.61%
• Cash-on-cash: -2.43%
• DSCR: 0.89
• GRM: 12.1

CMA / ARV

• ARV (median comp): $246,622
• List price: $210,000
• Delta: -14.85%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
401 E Market	0.36mi	4/4.0 (-1)	2,915 (+6%)	14mo	$205,000	$70	48
410 W Ctr	0.33mi	4/2.5 (-1)	2,416 (-12%)	21mo	$200,000	$83	40
910 W Arch	0.64mi	4/3.0 (-1)	2,894 (+6%)	18mo	$255,000	$88	37
715 N Spruce	0.68mi	4/3.0 (-1)	3,040 (+11%)	11mo	$270,000	$89	32

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -20.4%
• Equity multiple: 0.29×
• Total profit: $-41,711
• Equity at exit: $31,312

10-year hold

• IRR: -13.7%
• Equity multiple: 0.21×
• Total profit: $-46,471
• Equity at exit: $18,157

Cash invested: $58,800 (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 72143

• Home prices YoY: -28.4%
• Active inventory: 173
• Price-to-rent: 12.1×

Monthly cashflow live

• Estimated rent: $1,450 medium
• Mortgage (P&I): −$1,101
• Tax from tax record: −$76 /mo · $907/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $-119

Break-even live

Break-even rent $1,600

Max offer price $188,951

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-19
   days on market $210,000 Active 124 DOM
2. 2026-06-18
   days on market $210,000 Active 123 DOM
3. 2026-06-17
   days on market $210,000 Active 122 DOM
4. 2026-06-16
   days on market $210,000 Active 121 DOM
5. 2026-06-15
   days on market $210,000 Active 120 DOM
6. 2026-06-14
   days on market $210,000 Active 118 DOM
7. 2026-06-12
   days on market $210,000 Active 117 DOM
8. 2026-06-09
   days on market $210,000 Active 114 DOM
9. 2026-06-08
   days on market $210,000 Active 113 DOM
10. 2026-06-07
    days on market $210,000 Active 112 DOM
11. 2026-06-05
    days on market $210,000 Active 109 DOM
12. 2026-06-03
    days on market $210,000 Active 108 DOM
13. 2026-06-02
    days on market $210,000 Active 107 DOM
14. 2026-06-01
    days on market $210,000 Active 106 DOM
15. 2026-05-31
    days on market $210,000 Active 105 DOM
16. 2026-05-30
    days on market $210,000 Active 104 DOM
17. 2026-04-23
    price $210,000 971-char remark

    Show marketing remark (971 chars)

    Historic property with great bones and endless potential! Situated on 3 lots and zoned residential or commercial, this property features a newer metal roof and newer windows. The main building is configured as three separate living spaces, including one larger unit with kitchen, dining area, living room, two rooms, bathroom, and a large upstairs bonus room/bedroom, plus two smaller units, each with kitchen, living area, bedroom, and bathroom. The layout allows for use as a single residence or individual units. A second building at the rear was previously used as living quarters and could be restored. The property extends through wooded area with room to expand. Interior is in mid-renovation and ready for finish-out, making this a true blank canvas for investors, Airbnb, bed & breakfast, or redevelopment. Prime in-town location within a block from Beebe Capps Expressway, Spring Park and walking distance to Downtown area and many other local amenities.

18. 2026-04-23
    price $210,000 971-char remark

    Show marketing remark (971 chars)

    Historic property with great bones and endless potential! Situated on 3 lots and zoned residential or commercial, this property features a newer metal roof and newer windows. The main building is configured as three separate living spaces, including one larger unit with kitchen, dining area, living room, two rooms, bathroom, and a large upstairs bonus room/bedroom, plus two smaller units, each with kitchen, living area, bedroom, and bathroom. The layout allows for use as a single residence or individual units. A second building at the rear was previously used as living quarters and could be restored. The property extends through wooded area with room to expand. Interior is in mid-renovation and ready for finish-out, making this a true blank canvas for investors, Airbnb, bed & breakfast, or redevelopment. Prime in-town location within a block from Beebe Capps Expressway, Spring Park and walking distance to Downtown area and many other local amenities.

19. 2026-03-18
    price $225,000 971-char remark

    Show marketing remark (971 chars)

    Historic property with great bones and endless potential! Situated on 3 lots and zoned residential or commercial, this property features a newer metal roof and newer windows. The main building is configured as three separate living spaces, including one larger unit with kitchen, dining area, living room, two rooms, bathroom, and a large upstairs bonus room/bedroom, plus two smaller units, each with kitchen, living area, bedroom, and bathroom. The layout allows for use as a single residence or individual units. A second building at the rear was previously used as living quarters and could be restored. The property extends through wooded area with room to expand. Interior is in mid-renovation and ready for finish-out, making this a true blank canvas for investors, Airbnb, bed & breakfast, or redevelopment. Prime in-town location within a block from Beebe Capps Expressway, Spring Park and walking distance to Downtown area and many other local amenities.

20. 2026-03-18
    price $225,000 971-char remark

    Show marketing remark (971 chars)

    Historic property with great bones and endless potential! Situated on 3 lots and zoned residential or commercial, this property features a newer metal roof and newer windows. The main building is configured as three separate living spaces, including one larger unit with kitchen, dining area, living room, two rooms, bathroom, and a large upstairs bonus room/bedroom, plus two smaller units, each with kitchen, living area, bedroom, and bathroom. The layout allows for use as a single residence or individual units. A second building at the rear was previously used as living quarters and could be restored. The property extends through wooded area with room to expand. Interior is in mid-renovation and ready for finish-out, making this a true blank canvas for investors, Airbnb, bed & breakfast, or redevelopment. Prime in-town location within a block from Beebe Capps Expressway, Spring Park and walking distance to Downtown area and many other local amenities.

21. 2026-02-15
    listed $250,000 New Listing 971-char remark

    Show marketing remark (971 chars)

    Historic property with great bones and endless potential! Situated on 3 lots and zoned residential or commercial, this property features a newer metal roof and newer windows. The main building is configured as three separate living spaces, including one larger unit with kitchen, dining area, living room, two rooms, bathroom, and a large upstairs bonus room/bedroom, plus two smaller units, each with kitchen, living area, bedroom, and bathroom. The layout allows for use as a single residence or individual units. A second building at the rear was previously used as living quarters and could be restored. The property extends through wooded area with room to expand. Interior is in mid-renovation and ready for finish-out, making this a true blank canvas for investors, Airbnb, bed & breakfast, or redevelopment. Prime in-town location within a block from Beebe Capps Expressway, Spring Park and walking distance to Downtown area and many other local amenities.

22. 2026-02-15
    listed $250,000 New Listing 971-char remark

    Show marketing remark (971 chars)

    Historic property with great bones and endless potential! Situated on 3 lots and zoned residential or commercial, this property features a newer metal roof and newer windows. The main building is configured as three separate living spaces, including one larger unit with kitchen, dining area, living room, two rooms, bathroom, and a large upstairs bonus room/bedroom, plus two smaller units, each with kitchen, living area, bedroom, and bathroom. The layout allows for use as a single residence or individual units. A second building at the rear was previously used as living quarters and could be restored. The property extends through wooded area with room to expand. Interior is in mid-renovation and ready for finish-out, making this a true blank canvas for investors, Airbnb, bed & breakfast, or redevelopment. Prime in-town location within a block from Beebe Capps Expressway, Spring Park and walking distance to Downtown area and many other local amenities.

23. 2012-05-01
    soldstatus $96,000
24. 2012-04-27
    soldstatus $96,000
25. 2012-04-03
    historical
26. 2012-02-01
    listed $115,000
27. 1998-08-28
    soldstatus $67,000

ⓘ 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: $907 · $76/mo
• Projected year-2 tax: $1,344 · $112/mo
• Expected delta: +$437/yr (+$36/mo · 48.2%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥111°F today · 20 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% 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: $17,395
• − Mortgage interest: −$11,763
• − Property taxes: −$907
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,392
• − Management: −$1,392
• − Depreciation: −$6,109
• Taxable loss: −$5,217
• Est. tax savings @ 24.0%: +$1,252
• After-tax cash flow: $-178/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: Searcy School District
• NCES district ID: 0512210
• Math proficiency: 47% ▼ -11.00%
• Reading proficiency: 43% ▼ -10.00%
• Median HH income: $44,318
• Composite: 38.12/100
• National rank: #4272
• State rank: #37 of 238 in AR

Livability — Searcy

• Score: 70/100
• State rank: #51
• US rank: #7408

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Searcy, AR
• County: White County · 35,000 people
• City population: 35,000
• Metro: Searcy, AR
• Population (ZIP): 35,000
• Household income: $58,344
• Rent vs Own: 35.0% rent · 65.0% own
• Severe rent burden: 804.0

Population outlook (White County) Hauer SSP2

• Today (2025): 82,310 people
• By 2030: 83,861 · +1.9%
• By 2040: 86,492 · +5.1%
• By 2050: 88,246 · +7.2%
• By 2075: 91,307 · +10.9%
• By 2100: 91,548 · +11.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Black 7% Hispanic / Latino 6% Two or more races 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 2% Slovak 1% Serbian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 4%

Political lean MEDSL · White

• 2024 margin: Solid R (+61.2) · D 18.3% · R 79.5% · Other 2.2%
• 2008→2024 swing: -14.0pp toward R · 2008: -47.2pp · 2024: -61.2pp
• All cycles: 2024: R+61.2 2020: R+58.9 2016: R+57.9 2012: R+53.7 2008: R+47.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -81.60%
• Current HPI: 206.0334
• Rent YoY: —
• Metro: Searcy, 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

+213.4% since first listed

11 events — show timeline

• 2026-04-23 Price Changed $210,000 CARMLS
• 2026-04-23 Price Changed $210,000 CARMLS
• 2026-03-18 Price Changed $225,000 CARMLS
• 2026-03-18 Price Changed $225,000 CARMLS
• 2026-02-15 Listed $250,000 CARMLS
• 2026-02-15 Listed $250,000 CARMLS
• 2012-05-01 Sold (Public Records) $96,000 Public Records
• 2012-04-27 Sold (MLS) $96,000 CARMLS
• 2012-04-03 Listing Removed — CARMLS
• 2012-02-01 Listed $115,000 CARMLS
• 1998-08-28 Sold (Public Records) $67,000 Public Records

Property tax history

-1.2%/yr

Latest (2025): $907 · +0.0% YoY. Source: county tax records.