134 #2 Dr Unit Richwood 2 · Fairfield Bay, AR 72088

$79,900

1 bd · 2.0 ba · 1,095 sqft · Condo · 113 Days on market

Built 1980 Fair condition $73/sqft · 21% below area Est $102k · 21% under $317/mo HOA · 18% of rent ↓ 6% since listing

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Why this score? — see what drove the A- 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
• 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
• Condition / age +2.2/5.0

Listing remarks MLS

Welcome to the perfect retirement retreat in the heart of the Ozarks. If you love the beauty of the country and the peace of nature—but don’t want the maintenance of a large property—this move-in-ready condo checks every box. Offering 1,095 square feet, this well-maintained home features 1 spacious bedroom and 2 full bathrooms, providing both comfort and functionality. The layout is thoughtfully designed for easy living, with: A welcoming front porch perfect for morning coffee A relaxing back deck for enjoying fresh Ozark air Beautiful bay windows in the kitchen complete with growing shelves—ideal for potted plants and herbs Central heat and air for year-round comfort An updated master shower for a modern touch This low-maintenance property allows you to spend more time doing what you love. Located just minutes from Greers Ferry Lake, you’ll enjoy convenient access to boating, fishing, and lakeside relaxation. You’re also close to local amenities including golf, restaurants, bowling, and the arcade—everything you need for active and social living. Whether you’re downsizing, retiring, or simply ready for a simpler lifestyle, this condo offers affordable living.

Key facts

• Central heat and air
• Relaxing back deck
• Move in ready condo

Tags

• MOVE IN READY CONDO
• WELCOMING FRONT PORCH
• RELAXING BACK DECK
• BAY WINDOWS IN KITCHEN
• CENTRAL HEAT AND AIR
• UPDATED MASTER SHOWER

What this means for you Summary

Snapshot

• This is a 1-bed/2.0-bath condo listed at $80k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $493 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $73k (9.0% below list) — sets the bar for market timing.
• Cap rate 13.7% 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; 16 units permitted in Van Buren County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $171 of equity ($552 loan paydown + $-381 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 $22k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 113 days — a 9% lower offer ($73k) is reasonable based on typical stale-listing flexibility.

Recommended offer $72,709 (9.0% below list)

Questions for the listing agent

1. It's been on market 113 days. Have you received any prior offers? Is the seller open to a 9% 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. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.16% ✓
• Cap rate: 13.70%
• Cash-on-cash: 26.44%
• DSCR: 2.18
• GRM: 3.9

CMA / ARV

• ARV (median comp): $101,582
• List price: $79,900
• Delta: -21.34%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
135 Hillview Dr	0.37mi	2/1.5 (+1)	1,033 (-6%)	18mo	$25,000	$24	52

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: 25.9%
• Equity multiple: 2.23×
• Total profit: $27,509
• Equity at exit: $21,315

10-year hold

• IRR: 30.4%
• Equity multiple: 4.30×
• Total profit: $73,803
• Equity at exit: $24,162

Cash invested: $22,372 (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 72088

• Home prices YoY: -0.2%
• Active inventory: 259
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,724 medium
• Mortgage (P&I): −$419
• Tax est. 1.5%: −$100 /mo · $1,198/yr
• Insurance: −$33
• HOA: −$317
• Vacancy / Maint / Mgmt: −$362
• Net cashflow: $493

Break-even live

Break-even rent $1,100

Max offer price $79,900

Occupancy floor 66%

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $317 · $3,804/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-19
   days on market $79,900 Active 113 DOM
2. 2026-06-18
   days on market $79,900 Active 112 DOM
3. 2026-06-17
   days on market $79,900 Active 111 DOM
4. 2026-06-16
   days on market $79,900 Active 110 DOM
5. 2026-06-15
   days on market $79,900 Active 109 DOM
6. 2026-06-14
   days on market $79,900 Active 107 DOM
7. 2026-06-12
   days on market $79,900 Active 106 DOM
8. 2026-06-09
   days on market $79,900 Active 103 DOM
9. 2026-06-08
   days on market $79,900 Active 102 DOM
10. 2026-06-07
    days on market $79,900 Active 101 DOM
11. 2026-06-07
    days on market $79,900 Active 100 DOM
12. 2026-06-04
    days on market $79,900 Active 97 DOM
13. 2026-06-02
    days on market $79,900 Active 96 DOM
14. 2026-06-01
    days on market $79,900 Active 95 DOM
15. 2026-05-31
    days on market $79,900 Active 94 DOM
16. 2026-05-31
    days on market $79,900 Active 93 DOM
17. 2026-04-25
    price $79,900 1232-char remark

    Show marketing remark (1232 chars)

    Welcome to the perfect retirement retreat in the heart of the Ozarks. If you love the beauty of the country and the peace of nature—but don’t want the maintenance of a large property—this move-in-ready condo checks every box. Offering 1,095 square feet, this well-maintained home features 1 spacious bedroom and 2 full bathrooms, providing both comfort and functionality. The layout is thoughtfully designed for easy living, with: A welcoming front porch perfect for morning coffee A relaxing back deck for enjoying fresh Ozark air Beautiful bay windows in the kitchen complete with growing shelves—ideal for potted plants and herbs Central heat and air for year-round comfort An updated master shower for a modern touch This low-maintenance property allows you to spend more time doing what you love. Located just minutes from Greers Ferry Lake, you’ll enjoy convenient access to boating, fishing, and lakeside relaxation. You’re also close to local amenities including golf, restaurants, bowling, and the arcade—everything you need for active and social living. Whether you’re downsizing, retiring, or simply ready for a simpler lifestyle, this condo offers affordable living.

18. 2026-02-26
    listed $85,000 New Listing 1232-char remark

    Show marketing remark (1232 chars)

    Welcome to the perfect retirement retreat in the heart of the Ozarks. If you love the beauty of the country and the peace of nature—but don’t want the maintenance of a large property—this move-in-ready condo checks every box. Offering 1,095 square feet, this well-maintained home features 1 spacious bedroom and 2 full bathrooms, providing both comfort and functionality. The layout is thoughtfully designed for easy living, with: A welcoming front porch perfect for morning coffee A relaxing back deck for enjoying fresh Ozark air Beautiful bay windows in the kitchen complete with growing shelves—ideal for potted plants and herbs Central heat and air for year-round comfort An updated master shower for a modern touch This low-maintenance property allows you to spend more time doing what you love. Located just minutes from Greers Ferry Lake, you’ll enjoy convenient access to boating, fishing, and lakeside relaxation. You’re also close to local amenities including golf, restaurants, bowling, and the arcade—everything you need for active and social living. Whether you’re downsizing, retiring, or simply ready for a simpler lifestyle, this condo offers affordable living.

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

Taxation est. · year 1

• Rental income: $20,691
• − Mortgage interest: −$4,476
• − Property taxes: −$1,198
• − Insurance: −$400
• − Repairs & maintenance: −$1,655
• − Management: −$1,655
• − HOA: −$3,804
• − Depreciation: −$2,324
• Taxable income: $5,178
• Est. tax owed @ 24.0%: −$1,243
• After-tax cash flow: $4,673/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 · 13 photos

Fair 45/100 Cosmetic rehab

This move-in-ready condo has potential for significant value increase with exterior and interior updates.

Repairs flagged

• Major siding — The siding is visibly weathered and peeling.
• Major paint — The paint is peeling and the exterior needs a fresh coat.
• Major landscaping — The landscaping is sparse and in need of maintenance.

Value-add opportunities

• Both Painting the exterior and landscaping — Refreshing the exterior and landscaping will improve curb appeal and attract potential buyers or renters.
• Both Updating the bathrooms — Modernizing the bathrooms will make the home more appealing to potential buyers and renters.
• Both Updating the interior walls and flooring — Updating the interior will make the home more modern and appealing to potential buyers and renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
siding · The siding is visibly weathered and peeling.	Major	$15,000–50,000
paint · The paint is peeling and the exterior needs a fresh coat.	Major	$15,000–50,000
landscaping · The landscaping is sparse and in need of maintenance.	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both Painting the exterior and landscaping — Refreshing the exterior and landscaping will improve curb appeal and attract potential buyers or renters. ↑
• Both Updating the bathrooms — Modernizing the bathrooms will make the home more appealing to potential buyers and renters. ↑
• Both Updating the interior walls and flooring — Updating the interior will make the home more modern and appealing to potential buyers and renters. ↑

ⓘ 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

-6.0% since first listed

2 events — show timeline

• 2026-04-25 Price Changed $79,900 CARMLS
• 2026-02-26 Listed $85,000 CARMLS