118 Richwood Drive #45 Unit 45 (L-1) · Fairfield Bay, AR 72088

$95,000

2 bd · 2.0 ba · 1,218 sqft · SingleFamily public records · 109 Days on market

Built 1980 $78/sqft · 6% below area Est $102k · 6% under $387/mo HOA · 19% of rent

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Why this score? — see what drove the B+ 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 +10.4/15.0
• 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 +2.5/5.0

Listing remarks MLS

This has everything on your checklist! ONE-level, spacious condo is an end unit. Expanded rear deck overlooks a peaceful wooded area, & stone walkway to front. Tasteful interior colors, wood & Carpet flooring, energy efficient windows & exterior doors. 2 large BR, 2 full Baths. All appliances are included, and some newer, basic furniture. Permanent entry cover. Wooden plantation & pleated blinds offer lots of natural light or adjust for privacy. Nice appliances, paint, hardware, plate/plug covers, faucets, pulls, etc. Complex has a metal roof (2013). Carefree & classy living. One of the best units! Don't miss this one!

Key facts

• Expanded rear deck
• Wooded area
• Stone walkway

Tags

• EXPANDED REAR DECK
• WOODED AREA
• STONE WALKWAY
• ENERGY EFFICIENT WINDOWS
• PERMANENT ENTRY COVER
• WOODEN PLANTATION BLINDS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $610 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Recommended offer: $86k (9.0% below list) — sets the bar for market timing.
• Cap rate 14.0% 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; 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 $204 of equity ($657 loan paydown + $-453 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 $27k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 109 days — a 9% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 16y 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.

Recommended offer $86,450 (9.0% below list)

Questions for the listing agent

1. It's been on market 109 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 2.11% ✓
• Cap rate: 13.99%
• Cash-on-cash: 27.50%
• DSCR: 2.22
• GRM: 4.0

CMA / ARV

• ARV (median comp): $101,582
• List price: $95,000
• Delta: -6.48%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
121 Short Haven Ln	0.10mi	2/2.0	1,264 (+4%)	7mo	$92,000	$73	83
104 Shadow Ridge Ct	0.22mi	2/2.5	1,248 (+2%)	5mo	$119,025	$95	80
113 Shorthaven Ln	0.13mi	2/2.0	1,114 (-8%)	8mo	$147,500	$132	73
109 Shadow Ridge Loop #26	0.25mi	2/3.0	1,248 (+2%)	14mo	$44,500	$36	68
123 Shadow Ridge Ln	0.28mi	2/2.5	1,300 (+7%)	7mo	$93,000	$72	68
106 Shadow Ridge Ln	0.24mi	2/3.0	1,300 (+7%)	11mo	$135,000	$104	64
108 Jonas Ct	0.47mi	2/3.0	1,296 (+6%)	1mo	$68,000	$52	62
111 Dunn Hollow Dr	0.49mi	3/2.0 (+1)	1,284 (+5%)	13mo	$139,900	$109	52
105 Jonas Ct	0.47mi	3/2.0 (+1)	1,302 (+7%)	14mo	$240,000	$184	50
112 Blase Line Rd	0.52mi	3/2.0 (+1)	1,362 (+12%)	3mo	$152,500	$112	48
109 Dunn Hollow Dr	0.48mi	3/2.0 (+1)	1,388 (+14%)	4mo	$48,000	$35	46
173 Dunn Hollow Rd	0.64mi	3/2.0 (+1)	1,378 (+13%)	15mo	$123,000	$89	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: 27.0%
• Equity multiple: 2.28×
• Total profit: $34,161
• Equity at exit: $25,344

10-year hold

• IRR: 31.5%
• Equity multiple: 4.41×
• Total profit: $90,779
• Equity at exit: $28,729

Cash invested: $26,600 (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: 4.0×

Monthly cashflow live

• Estimated rent: $2,000 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$46 /mo · $548/yr
• Insurance: −$40
• HOA: −$387
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $610

Break-even live

Break-even rent $1,228

Max offer price $95,000

Occupancy floor 65%

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
106 Set Ct Fairfield Bay, AR	3.0	2.0	1300	$2,000	$1.54	44d	1	0.90mi

HOA detail

• Monthly dues: $387 · $4,644/yr

Listing history 50 events

1. 2026-06-19
   days on market $95,000 Active 109 DOM
2. 2026-06-18
   days on market $95,000 Active 108 DOM
3. 2026-06-17
   days on market $95,000 Active 107 DOM
4. 2026-06-16
   days on market $95,000 Active 106 DOM
5. 2026-06-15
   days on market $95,000 Active 105 DOM
6. 2026-06-14
   days on market $95,000 Active 103 DOM
7. 2026-06-12
   days on market $95,000 Active 102 DOM
8. 2026-06-09
   days on market $95,000 Active 99 DOM
9. 2026-06-08
   days on market $95,000 Active 98 DOM
10. 2026-06-07
    days on market $95,000 Active 97 DOM
11. 2026-06-07
    days on market $95,000 Active 96 DOM
12. 2026-06-04
    days on market $95,000 Active 93 DOM
13. 2026-06-02
    days on market $95,000 Active 92 DOM
14. 2026-06-01
    days on market $95,000 Active 91 DOM
15. 2026-05-31
    days on market $95,000 Active 90 DOM
16. 2026-05-31
    days on market $95,000 Active 89 DOM
17. 2026-03-02
    listed $95,000 New Listing 657-char remark

    Show marketing remark (657 chars)

    This has everything on your checklist! ONE-level, spacious condo is an end unit. Expanded rear deck overlooks a peaceful wooded area, & stone walkway to front. Tasteful interior colors, wood & Carpet flooring, energy efficient windows & exterior doors. 2 large BR, 2 full Baths. All appliances are included, and some newer, basic furniture. Permanent entry cover. Wooden plantation & pleated blinds offer lots of natural light or adjust for privacy. Nice appliances, paint, hardware, plate/plug covers, faucets, pulls, etc. Complex has a metal roof (2013). Carefree & classy living. One of the best units! Don't miss this one!

18. 2023-12-07
    soldstatus $107,000
19. 2022-04-25
    soldstatus $89,000
20. 2022-04-21
    status Under Contract 507-char remark

    Show marketing remark (507 chars)

    Whether you are looking for a full time place, weekender or VRBO check this nice townhome out. One level & nice decks to relax, large bedrooms, Fairfield Bay offers a full service marina, 2-18 hole golf courses, miniature golf, disc golf, hiking/biking trails, ATV/UTV trails, tennis, pickleball, restaurants and shopping. Recent updates include washer, dryer, toilets, refrigerator, & storm door. The photos used were from the previous listing. Seller will need to lease back for up to 6 months.

21. 2022-04-19
    soldstatus $89,000 Sold 507-char remark

    Show marketing remark (507 chars)

    Whether you are looking for a full time place, weekender or VRBO check this nice townhome out. One level & nice decks to relax, large bedrooms, Fairfield Bay offers a full service marina, 2-18 hole golf courses, miniature golf, disc golf, hiking/biking trails, ATV/UTV trails, tennis, pickleball, restaurants and shopping. Recent updates include washer, dryer, toilets, refrigerator, & storm door. The photos used were from the previous listing. Seller will need to lease back for up to 6 months.

22. 2022-03-06
    historical Take Backups 507-char remark

    Show marketing remark (507 chars)

    Whether you are looking for a full time place, weekender or VRBO check this nice townhome out. One level & nice decks to relax, large bedrooms, Fairfield Bay offers a full service marina, 2-18 hole golf courses, miniature golf, disc golf, hiking/biking trails, ATV/UTV trails, tennis, pickleball, restaurants and shopping. Recent updates include washer, dryer, toilets, refrigerator, & storm door. The photos used were from the previous listing. Seller will need to lease back for up to 6 months.

23. 2022-02-13
    listed $89,000 New Listing 507-char remark

    Show marketing remark (507 chars)

    Whether you are looking for a full time place, weekender or VRBO check this nice townhome out. One level & nice decks to relax, large bedrooms, Fairfield Bay offers a full service marina, 2-18 hole golf courses, miniature golf, disc golf, hiking/biking trails, ATV/UTV trails, tennis, pickleball, restaurants and shopping. Recent updates include washer, dryer, toilets, refrigerator, & storm door. The photos used were from the previous listing. Seller will need to lease back for up to 6 months.

24. 2019-11-27
    status Under Contract
25. 2019-11-27
    soldstatus $55,000
26. 2019-11-26
    soldstatus $55,000 Sold
27. 2019-09-13
    status Escape Clause
28. 2019-09-13
    historical
29. 2019-09-09
    status Back on Market
30. 2019-09-09
    historical
31. 2019-03-22
    listed $57,900 New Listing
32. 2019-03-21
    historical
33. 2019-03-01
    status Under Con. Before Listed
34. 2018-04-21
    historical
35. 2018-02-15
    price $59,900
36. 2017-10-06
    price $61,500
37. 2017-09-18
    price $62,000
38. 2017-06-26
    price $62,900
39. 2017-02-16
    listed $64,900 New Listing
40. 2016-07-30
    historical
41. 2016-04-30
    listed $67,500 New Listing
42. 2015-04-15
    historical
43. 2013-10-14
    listed $74,900
44. 2013-08-19
    historical
45. 2013-01-30
    listed $85,000
46. 2010-10-21
    soldstatus $80,000
47. 2010-10-21
    soldstatus $80,000
48. 2010-07-09
    historical
49. 2010-07-05
    listed $84,000
50. 2007-03-05
    soldstatus $70,000

ⓘ 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: $548 · $46/mo
• Projected year-2 tax: $608 · $51/mo
• Expected delta: +$60/yr (+$5/mo · 11.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $24,000
• − Mortgage interest: −$5,321
• − Property taxes: −$548
• − Insurance: −$475
• − Repairs & maintenance: −$1,920
• − Management: −$1,920
• − HOA: −$4,644
• − Depreciation: −$2,764
• Taxable income: $6,408
• Est. tax owed @ 24.0%: −$1,538
• After-tax cash flow: $5,777/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: 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

+111.1% since first listed

36 events — show timeline

• 2026-03-02 Listed $95,000 CARMLS
• 2023-12-07 Sold (Public Records) $107,000 Public Records
• 2022-04-25 Sold (Public Records) $89,000 Public Records
• 2022-04-21 Pending — CARMLS
• 2022-04-19 Sold (MLS) $89,000 CARMLS
• 2022-03-06 Contingent — CARMLS
• 2022-02-13 Listed $89,000 CARMLS
• 2019-11-27 Pending — CARMLS
• 2019-11-27 Sold (Public Records) $55,000 Public Records
• 2019-11-26 Sold (MLS) $55,000 CARMLS
• 2019-09-13 Relisted — CARMLS
• 2019-09-13 Listing Removed — CARMLS
• 2019-09-09 Relisted — CARMLS
• 2019-09-09 Listing Removed — CARMLS
• 2019-03-22 Listed $57,900 CARMLS
• 2019-03-21 Listing Removed — CARMLS
• 2019-03-01 Pending — CARMLS
• 2018-04-21 Listing Removed — CARMLS
• 2018-02-15 Price Changed $59,900 CARMLS
• 2017-10-06 Price Changed $61,500 CARMLS
• 2017-09-18 Price Changed $62,000 CARMLS
• 2017-06-26 Price Changed $62,900 CARMLS
• 2017-02-16 Listed $64,900 CARMLS
• 2016-07-30 Listing Removed — CARMLS
• 2016-04-30 Listed $67,500 CARMLS
• 2015-04-15 Listing Removed — CARMLS
• 2013-10-14 Listed $74,900 CARMLS
• 2013-08-19 Listing Removed — CARMLS
• 2013-01-30 Listed $85,000 CARMLS
• 2010-10-21 Sold (Public Records) $80,000 Public Records
• 2010-10-21 Sold (MLS) $80,000 CARMLS
• 2010-07-09 Listing Removed — CARMLS
• 2010-07-05 Listed $84,000 CARMLS
• 2007-03-05 Sold (Public Records) $70,000 Public Records
• 2006-02-17 Sold (Public Records) $65,000 Public Records
• 1993-07-06 Sold (Public Records) $45,000 Public Records

Property tax history

+8.7%/yr

Latest (2025): $548 · +10.0% YoY. Source: county tax records.