17032 Bray · Garfield, AR 72732

$279,900

3 bd · 2.0 ba · 1,216 sqft · Manufactured public records · 63 Days on market

Built 2003 5.58 ac lot $230/sqft · 12% below area Est $318k · 12% under

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Why this score? — see what drove the C+ 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 +19.5/30.0
• ARV discount +12.9/15.0
• Appreciation +8.8/10.0
• DSCR +6.2/10.0
• 1% rule +4.0/10.0
• Schools +3.7/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Just 2.6 miles from Rogers, this beautiful 5.58-acre property offers mostly flat land and plenty of usable space. The home features a permanent foundation, with major updates including a new HVAC system (2026), updated bathrooms (2025), and upgraded flooring (2025). Additional improvements include updated lighting (2024) and access to city water. A direct water line makes this property an excellent opportunity for gardening or small-scale farming.

Key facts

• 5.58-acre property
• Upgraded flooring
• Permanent foundation

Tags

• 5.58-ACRE PROPERTY
• PERMANENT FOUNDATION
• NEW HVAC SYSTEM
• UPDATED BATHROOMS
• UPGRADED FLOORING
• UPDATED LIGHTING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $280k.

Deal economics

• At list price, monthly cash flow is $319 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $252k (9.9% below list).
• Recommended offer: $252k (9.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 66/100 on livability (#123 in AR) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A-; Watch: schools D+, amenities F, commute F.
• Pea Ridge School District (suburban): math 43% / reading 42% proficiency, ranked #43 of 238 in AR (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 129 active listings in the ZIP; 4,359 units permitted in Benton County in 2024 (402 in 5+ unit buildings).

Forward outlook

• In year one you build about $23k of equity ($2k loan paydown + $21k appreciation (7.6% local appreciation)).
• Benton County population projected at +56% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (7.6% appreciation + 3.0% rent growth), your $78k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($263k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y 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.
• Current owner paid $110k; list at $280k implies a 156% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $252,078 (9.9% below list)

Questions for the listing agent

1. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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.
6. 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.
7. 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: 0.90% ✗
• Cap rate: 7.66%
• Cash-on-cash: 4.88%
• DSCR: 1.22
• GRM: 9.3

CMA / ARV

• ARV (median comp): $317,939
• List price: $279,900
• Delta: -11.96%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 22.9%
• Equity multiple: 2.64×
• Total profit: $128,500
• Equity at exit: $205,216

10-year hold

• IRR: 21.0%
• Equity multiple: 5.56×
• Total profit: $357,414
• Equity at exit: $400,462

Cash invested: $78,372 (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: 9.3×

Monthly cashflow live

• Estimated rent: $2,521 medium
• Mortgage (P&I): −$1,468
• Tax from tax record: −$88 /mo · $1,058/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$529
• Net cashflow: $319

Break-even live

Break-even rent $2,117

Max offer price $279,900

Occupancy floor 82%

Sensitivity live

Price	-10% $477	-5% $398	+0% $319	+5% $240	+10% $160
Rent	-10% $120	-5% $219	+0% $319	+5% $418	+10% $518
Rate	-1.0pp $460	-0.5pp $390	base $319	+0.5pp $246	+1.0pp $173

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: $69,975
• Closing costs: $8,397
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $279,900 Active 63 DOM
2. 2026-06-17
   days on market $279,900 Active 62 DOM
3. 2026-06-16
   days on market $279,900 Active 61 DOM
4. 2026-06-15
   days on market $279,900 Active 60 DOM
5. 2026-06-14
   days on market $279,900 Active 58 DOM
6. 2026-06-13
   days on market $279,900 Active 57 DOM
7. 2026-06-10
   days on market $279,900 Active 55 DOM
8. 2026-06-09
   days on market $279,900 Active 54 DOM
9. 2026-06-08
   days on market $279,900 Active 53 DOM
10. 2026-06-07
    days on market $279,900 Active 52 DOM
11. 2026-06-03
    days on market $279,900 Active 48 DOM
12. 2026-06-02
    days on market $279,900 Active 47 DOM
13. 2026-06-01
    days on market $279,900 Active 46 DOM
14. 2026-05-31
    days on market $279,900 Active 45 DOM
15. 2026-05-31
    days on market $279,900 Active 44 DOM
16. 2026-04-13
    listed $279,900 Active 451-char remark

    Show marketing remark (451 chars)

    Just 2.6 miles from Rogers, this beautiful 5.58-acre property offers mostly flat land and plenty of usable space. The home features a permanent foundation, with major updates including a new HVAC system (2026), updated bathrooms (2025), and upgraded flooring (2025). Additional improvements include updated lighting (2024) and access to city water. A direct water line makes this property an excellent opportunity for gardening or small-scale farming.

17. 2019-09-03
    soldstatus $109,500
18. 2019-08-30
    soldstatus $109,500 142-char remark

    Show marketing remark (142 chars)

    2.6 miles from Rogers. Nice flat land. 5.58 acres. Mobile home is on permanent foundation. Water and electric only. On septic. Cattle allowed.

19. 2019-07-18
    listed $109,900 142-char remark

    Show marketing remark (142 chars)

    2.6 miles from Rogers. Nice flat land. 5.58 acres. Mobile home is on permanent foundation. Water and electric only. On septic. Cattle allowed.

ⓘ 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: $1,058 · $88/mo
• Projected year-2 tax: $1,791 · $149/mo
• Expected delta: +$734/yr (+$61/mo · 69.3%)

ⓘ 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 4/10 Moderate 7 d/yr ≥103°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,249
• − Mortgage interest: −$15,679
• − Property taxes: −$1,058
• − Insurance: −$1,400
• − Repairs & maintenance: −$2,420
• − Management: −$2,420
• − Depreciation: −$8,143
• Taxable loss: −$869
• Est. tax savings @ 24.0%: +$209
• After-tax cash flow: $4,034/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: Pea Ridge School District
• NCES district ID: 0503030
• Math proficiency: 43% ▼ -3.00%
• Reading proficiency: 42% ▼ -8.00%
• Median HH income: $53,156
• Composite: 36.88/100
• National rank: #4546
• State rank: #43 of 238 in AR

Livability — Garfield

• Score: 66/100
• State rank: #123
• US rank: #11634

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Garfield, 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

+154.7% since first listed

4 events — show timeline

• 2026-04-13 Listed $279,900 NWARMLS
• 2019-09-03 Sold (Public Records) $109,500 Public Records
• 2019-08-30 Sold (MLS) $109,500 NWARMLS
• 2019-07-18 Listed $109,900 NWARMLS

Property tax history

+6.9%/yr

Latest (2025): $1,058 · +7.3% YoY. Source: county tax records.