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

$79,900

1 bd · 2.0 ba · 1,095 sqft · Condo · 163 Days on market

Built 1980 Fair condition $73/sqft · 24% below area Est $104k · 24% under $317/mo HOA · 33% of rent ↓ 6% since listing

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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 +7.0/30.0
• 1% rule +6.9/10.0
• Appreciation +4.8/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +2.0/10.0
• DSCR +1.2/10.0

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 $-119 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $63k (21.5% below list).
• Meets the 1% rule at list price ($950 rent vs $80k).
• Recommended offer: $63k (21.5% below list) — sets the bar for cash-flow.
• Cap rate 4.5% vs local median 3.1% 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+, amenities F, commute 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.
• Zoned schools: Shirley Elementary School (math 12% / reading 12%, grade F, #419 of 454 statewide, top 93%, 180 students, 100% FRL); Shirley High School (math 22% / reading 32%, grade F, #164 of 292 statewide, top 61%, 139 students, 100% FRL) — zoned schools average 100% FRL vs 73% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 20% at this address vs 43% district-wide (-24 pts) — the specific schools serving this property underperform the Shirley School District average; the district grade overstates school quality for this exact location.
• Market conditions: 319 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 $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.

Negotiation context

• It's been on market 163 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 33% of rent.

Recommended offer $62,728 (21.5% 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 163 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.19% ✓
• Cap rate: 4.51%
• Cash-on-cash: -6.37%
• DSCR: 0.72
• GRM: 7.0

CMA / ARV

• ARV (median comp): $104,490
• List price: $79,900
• Delta: -23.53%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
134 Richwood Dr #3	0.10mi	1/2.0	1,095 (0%)	2mo	$85,000	$78	93
135 Hillview Dr #19	0.37mi	2/1.5 (+1)	1,117 (+2%)	0mo	$97,000	$87	72
135 Hillview Dr #29	0.37mi	2/1.5 (+1)	1,117 (+2%)	2mo	$77,000	$69	71
135 Hillview Dr #115	0.37mi	2/1.5 (+1)	1,117 (+2%)	2mo	$70,000	$63	71
135 Hillview Dr #101	0.37mi	2/1.5 (+1)	1,117 (+2%)	3mo	$75,000	$67	70
134 Richwood Unit Dr #16	0.10mi	1/2.0	894 (-18%)	3mo	$93,000	$104	68
125 Cliffside Dr #26	0.63mi	2/2.0 (+1)	1,120 (+2%)	2mo	$175,000	$156	60
158 Dunn Holw	0.70mi	2/2.0 (+1)	1,144 (+4%)	1mo	$107,500	$94	54
601 Dave Creek Pkwy #73	0.74mi	2/1.5 (+1)	1,066 (-3%)	2mo	$62,500	$59	52
108 Jonas Ct	0.47mi	2/3.0 (+1)	1,296 (+18%)	3mo	$68,000	$52	42
601 Dave Creek Pkwy #99	0.74mi	2/2.0 (+1)	938 (-14%)	2mo	$74,000	$79	34
171 Pine Knot Rd	0.75mi	2/2.5 (+1)	1,334 (+22%)	2mo	$155,000	$116	31

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: -11.4%
• Equity multiple: 0.49×
• Total profit: $-11,458
• Equity at exit: $21,315

10-year hold

• IRR: -4.6%
• Equity multiple: 0.54×
• Total profit: $-10,338
• 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 →

Active competition Active MLS

• For sale now: 1 active · 1 under contract
• Median asking: $101,000 ($90/sqft)
• Median days on market: 65 d
• This list price: lowest-priced of the active set
• ARV vs active asking: +5.5% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 72088

• Home prices YoY: -0.2%
• Active inventory: 319
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $950 medium
• Mortgage (P&I): −$419
• Tax est. 1.5%: −$100 /mo · $1,198/yr
• Insurance: −$33
• HOA: −$317
• Vacancy / Maint / Mgmt: −$200
• Net cashflow: $-119

Break-even live

Break-even rent $1,100

Max offer price $62,728

Occupancy floor —

Sensitivity live

Price	-10% $-63	-5% $-91	+0% $-119	+5% $-146	+10% $-174
Rent	-10% $-194	-5% $-156	+0% $-119	+5% $-81	+10% $-44
Rate	-1.0pp $-78	-0.5pp $-98	base $-119	+0.5pp $-139	+1.0pp $-160

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
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
104 Chelsea Dr #49 Fairfield Bay, AR	2.0	1.5	938	$950	$1.01	15d	1	0.57mi

HOA detail $317/mo · $3,804/yr condo

• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-08-08
   days on market $79,900 Active 163 DOM
2. 2026-08-07
   days on market $79,900 Active 162 DOM
3. 2026-08-06
   days on market $79,900 Active 161 DOM
4. 2026-08-05
   days on market $79,900 Active 160 DOM
5. 2026-08-04
   days on market $79,900 Active 159 DOM
6. 2026-08-03
   days on market $79,900 Active 158 DOM
7. 2026-07-31
   days on market $79,900 Active 155 DOM
8. 2026-07-30
   days on market $79,900 Active 154 DOM
9. 2026-07-29
   days on market $79,900 Active 153 DOM
10. 2026-07-27
    days on market $79,900 Active 151 DOM
11. 2026-07-25
    days on market $79,900 Active 149 DOM
12. 2026-07-24
    days on market $79,900 Active 148 DOM
13. 2026-07-23
    days on market $79,900 Active 147 DOM
14. 2026-07-22
    days on market $79,900 Active 146 DOM
15. 2026-07-21
    days on market $79,900 Active 145 DOM
16. 2026-07-18
    days on market $79,900 Active 142 DOM
17. 2026-07-16
    days on market $79,900 Active 140 DOM
18. 2026-07-15
    days on market $79,900 Active 139 DOM
19. 2026-07-14
    days on market $79,900 Active 138 DOM
20. 2026-07-13
    days on market $79,900 Active 137 DOM
21. 2026-07-12
    days on market $79,900 Active 136 DOM
22. 2026-07-12
    days on market $79,900 Active 135 DOM
23. 2026-07-11
    days on market $79,900 Active 134 DOM
24. 2026-07-09
    days on market $79,900 Active 133 DOM
25. 2026-07-09
    days on market $79,900 Active 132 DOM
26. 2026-07-07
    days on market $79,900 Active 131 DOM
27. 2026-07-06
    days on market $79,900 Active 130 DOM
28. 2026-07-05
    days on market $79,900 Active 129 DOM
29. 2026-07-04
    days on market $79,900 Active 128 DOM
30. 2026-07-03
    days on market $79,900 Active 127 DOM
31. 2026-07-02
    days on market $79,900 Active 126 DOM
32. 2026-07-01
    days on market $79,900 Active 125 DOM
33. 2026-06-30
    days on market $79,900 Active 124 DOM
34. 2026-06-29
    days on market $79,900 Active 123 DOM
35. 2026-06-28
    days on market $79,900 Active 122 DOM
36. 2026-06-27
    days on market $79,900 Active 121 DOM
37. 2026-06-26
    days on market $79,900 Active 119 DOM
38. 2026-06-22
    days on market $79,900 Active 116 DOM
39. 2026-06-21
    days on market $79,900 Active 115 DOM
40. 2026-06-19
    days on market $79,900 Active 113 DOM
41. 2026-06-18
    days on market $79,900 Active 112 DOM
42. 2026-06-17
    days on market $79,900 Active 111 DOM
43. 2026-06-16
    days on market $79,900 Active 110 DOM
44. 2026-06-15
    days on market $79,900 Active 109 DOM
45. 2026-06-14
    days on market $79,900 Active 107 DOM
46. 2026-06-12
    days on market $79,900 Active 106 DOM
47. 2026-06-09
    days on market $79,900 Active 103 DOM
48. 2026-06-08
    days on market $79,900 Active 102 DOM
49. 2026-06-07
    days on market $79,900 Active 101 DOM
50. 2026-06-07
    days on market $79,900 Active 100 DOM

ⓘ 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: $11,400
• − Mortgage interest: −$4,476
• − Property taxes: −$1,198
• − Insurance: −$400
• − Repairs & maintenance: −$912
• − Management: −$912
• − HOA: −$3,804
• − Depreciation: −$2,324
• Taxable loss: −$2,626
• Est. tax savings @ 24.0%: +$630
• After-tax cash flow: $-794/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 Est. rehab $5,475–$16,425 screening

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. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 20/100

Zoned Schools

Elementary Shirley Elementary School F AR #419/454 Nat'l #38,100/41,679 High Shirley High School F AR #164/292 Nat'l #11,887/17,239

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

C Composite livability gradescore 62/100

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
• County: Van Buren · 15,459 people
• City population: 2,264
• Population (ZIP): 2,264
• Household income: $54,508
• Rent vs Own: 12.9% rent · 87.1% own
• Severe rent burden: 13% of renters

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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%

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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%

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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

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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