204 Highway 45 · Bonanza, AR 72916

$185,000

3 bd · 2.0 ba · 1,265 sqft · SingleFamily public records · 26 Days on market

0.75 ac lot Est $215k · 14% 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).

• Cash flow +14.3/30.0
• ARV discount +13.8/15.0
• DSCR +4.4/10.0
• 1% rule +4.0/10.0
• Livability +3.3/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this beautifully remodeled 3-bedroom, 2-bath home sitting on over half an acre just minutes from Fort Smith AR. This move in ready property has been completely redone with modern updates throughout while still offering the charm of a classic brick home. This property is price to sell!

Key facts

• 0.75 acre lot
• Listed 25 days

Property features AI

Exterior

• Parking: Attached carport; 1 covered space; Gravel parking
• Security: Smoke detectors; Fire alarm
• Utilities: Public water; Sewer available; Electricity available; Cable available; Water available
• Home design: Single family residence; One story; House
• Construction: Brick construction; Shingle/asphalt roof; Slab foundation; Built as a house
• Exterior features: Patio; Cleared city lot; Highway frontage

Interior

• Kitchen: Dishwasher; Oven; Range; Refrigerator; Electric water heater
• Flooring: Laminate; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air; Attic fan
• Interior features: Eat-in kitchen; Fireplace in the living room
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $35 ($418/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 $166k (10.1% below list).
• Recommended offer: $166k (10.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 66/100 on livability (#137 in AR) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment D-.
• Hackett School District (rural): math 24% / reading 29% proficiency, ranked #173 of 238 in AR (top 73%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Hackett Elementary School (math 24% / reading 16%, grade F, #376 of 454 statewide, top 84%, 493 students, 100% FRL); Hackett High School (math 24% / reading 40%, grade F, #119 of 292 statewide, top 43%, 327 students, 100% FRL) — zoned schools average 100% FRL vs 54% district-wide (46 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.6%/yr); 235 active listings in the ZIP; solid renter incomes; 388 units permitted in Sebastian County in 2024 (16 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.
• Sebastian 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 26 days — a 2% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $70k; list at $185k implies a 164% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $166,240 (10.1% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 6.52%
• Cash-on-cash: 0.81%
• DSCR: 1.04
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $215,050
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
111 Sherwood Ave	0.45mi	2/2.0 (-1)	1,274 (+1%)	6mo	$140,000	$110	68
606 Mcconnell Ave	0.16mi	2/1.0 (-1)	1,120 (-12%)	18mo	$12,650	$11	50
1018 Lavender Rd	0.71mi	3/2.5	1,378 (+9%)	1mo	$234,000	$170	49
501 S Fifth Ave	0.52mi	3/1.0	1,428 (+13%)	6mo	$258,000	$181	45

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 · 1.57% rent growth · sell at horizon

5-year hold

• IRR: -16.6%
• Equity multiple: 0.42×
• Total profit: $-30,095
• Equity at exit: $27,584

10-year hold

• IRR: -11.2%
• Equity multiple: 0.37×
• Total profit: $-32,653
• Equity at exit: $15,995

Cash invested: $51,800 (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 72916

• Home prices YoY: -20.1%
• Rents YoY: 1.6%
• Active inventory: 235
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,662 medium
• Mortgage (P&I): −$970
• Tax est. 1.5%: −$231 /mo · $2,775/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $35

Break-even live

Break-even rent $1,618

Max offer price $185,000

Occupancy floor 93%

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $185,000 Active 26 DOM
2. 2026-06-18
   days on market $185,000 Active 25 DOM
3. 2026-06-17
   days on market $185,000 Active 24 DOM
4. 2026-06-16
   days on market $185,000 Active 23 DOM
5. 2026-06-15
   days on market $185,000 Active 22 DOM
6. 2026-06-14
   days on market $185,000 Active 20 DOM
7. 2026-06-13
   days on market $185,000 Active 19 DOM
8. 2026-06-10
   days on market $185,000 Active 17 DOM
9. 2026-06-09
   days on market $185,000 Active 16 DOM
10. 2026-06-08
    days on market $185,000 Active 15 DOM
11. 2026-06-07
    days on market $185,000 Active 14 DOM
12. 2026-06-05
    days on market $185,000 Active 11 DOM
13. 2026-06-03
    days on market $185,000 Active 10 DOM
14. 2026-06-02
    days on market $185,000 Active 9 DOM
15. 2026-06-01
    days on market $185,000 Active 8 DOM
16. 2026-05-31
    days on market $185,000 Active 7 DOM
17. 2026-05-30
    days on market $185,000 Active 6 DOM
18. 2026-05-19
    listed $185,000 Active
19. 2025-10-22
    soldstatus $70,000

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 6/10 Major 7 d/yr ≥111°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% 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: $19,949
• − Mortgage interest: −$10,363
• − Property taxes: −$2,775
• − Insurance: −$925
• − Repairs & maintenance: −$1,596
• − Management: −$1,596
• − Depreciation: −$5,382
• Taxable loss: −$2,688
• Est. tax savings @ 24.0%: +$645
• After-tax cash flow: $1,063/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: Hackett School District
• NCES district ID: 0507170
• Math proficiency: 24% ▼ -16.00%
• Reading proficiency: 29% ▼ -17.00%
• Median HH income: $42,751
• Composite: 22.59/100
• National rank: #8071
• State rank: #173 of 238 in AR

Livability — Bonanza

• Score: 66/100
• State rank: #137
• US rank: #12289

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bonanza, AR
• County: Sebastian County · 99,312 people
• Metro: Fort Smith, AR-OK
• Population (ZIP): 11,711
• Household income: $87,983
• Rent vs Own: 28.7% rent · 71.3% own
• Severe rent burden: 141.0

Population outlook (Sebastian County) Hauer SSP2

• Today (2025): 133,992 people
• By 2030: 136,620 · +2.0%
• By 2040: 140,832 · +5.1%
• By 2050: 143,301 · +6.9%
• By 2075: 147,964 · +10.4%
• By 2100: 145,848 · +8.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Two or more races 10% Asian 7% Hispanic / Latino 6% Black 4%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Italian 4% Scandinavian 2% Slovak 2%
• Foreign-born: 6% · Canada
• Languages at home: 89% English-only · Spanish 3% Other Asian/Pacific 3% German/W. Germanic 2%

Political lean MEDSL · Sebastian

• 2024 margin: Solid R (+37.5) · D 30.0% · R 67.6% · Other 2.4%
• 2008→2024 swing: -2.9pp toward R · 2008: -34.6pp · 2024: -37.5pp
• All cycles: 2024: R+37.5 2020: R+35.5 2016: R+38.1 2012: R+37.1 2008: R+34.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -54.92%
• Current HPI: 218.0302
• Rent YoY: ▲ 1.57%
• Metro: Fort Smith, AR-OK
• 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

+164.3% since first listed

2 events — show timeline

• 2026-05-19 Listed $185,000 WRVBOR
• 2025-10-22 Sold (Public Records) $70,000 Public Records

Property tax history

-8.2%/yr

Latest (2025): $235 · -20.4% YoY. Source: county tax records.