609 S Neon Ave · Fayetteville, AR 72704

$294,000

4 bd · 3.0 ba · 1,892 sqft · SingleFamily

Built 2026 Good condition 5,227 sqft lot Est $403k · 27% under $17/mo HOA · 1% of rent

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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 +10.6/30.0
• Livability +4.2/5.0
• Schools +4.1/10.0
• Condition / age +4.0/5.0
• 1% rule +3.2/10.0
• DSCR +3.0/10.0
• Rent growth +3.0/5.0
• Appreciation +0.0/10.0

Listing remarks

Sold before print! The Lovely Harris plan in The Element, in beautiful Fayetteville, AR! This home offers 4 bedrooms and 3 full bathrooms! Upon entering, you’ll find a spacious living room and kitchen open to a dining area! The kitchen boasts beautiful quartz countertops, a gas range, and pantry. The primary bedroom features an ensuite with quartz countertops with double sinks and a walk-in shower! This home will have LVP flooring throughout. The exterior will feature brick and siding per plan and a covered patio per plan. Homes in this neighborhood are equipped with a programmable thermostat that allows you to effortlessly control your environment with the touch of a button. Landscap

Key facts

• 5,227 sq ft lot
• Garage
• Built 2026

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $294k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-147 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $273k (7.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $241k (18.1% below list).
• Recommended offer: $241k (18.1% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 3.5% in Fayetteville — 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 83/100 on livability (#3 in AR, #871 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: employment D+, crime D-.
• Fayetteville School District (urban): math 50% / reading 49% proficiency, ranked #19 of 238 in AR (top 8%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.2%/yr); 539 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 3,494 units permitted in Washington County in 2024 (1,497 in 5+ unit buildings).
• This rent runs 30% of the median local income ($96k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Washington County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: moderate 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 $240,773 (18.1% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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?
7. 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.
8. 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.
9. 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: 0.82% ✗
• Cap rate: 5.69%
• Cash-on-cash: -2.14%
• DSCR: 0.90
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $402,996
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4791 W Folsom St	0.06mi	4/3.0	1,891 (-0%)	0mo	$367,580	$194	97
1316 S Lyndon Xing	0.43mi	4/3.0	2,004 (+6%)	1mo	$310,000	$155	69
526 S Calico	0.39mi	3/2.0 (-1)	1,830 (-3%)	0mo	$399,000	$218	67
594 S Neon Ave	0.04mi	3/2.0 (-1)	1,637 (-14%)	0mo	$341,000	$208	67
60 N Manhattan Way	0.52mi	3/2.0 (-1)	1,891 (-0%)	0mo	$399,900	$211	66
1290 S Lyndon Xing	0.43mi	3/2.5 (-1)	1,824 (-4%)	1mo	$330,000	$181	66
440 S Calico	0.40mi	4/2.0	1,745 (-8%)	1mo	$389,900	$223	63
4396 W Newton Ave	0.45mi	3/2.0 (-1)	1,787 (-6%)	1mo	$392,000	$219	60
4303 W Barhem Dr	0.53mi	3/2.0 (-1)	1,796 (-5%)	0mo	$382,400	$213	57
4394 W Barhem Dr	0.49mi	3/2.0 (-1)	1,783 (-6%)	2mo	$375,000	$210	57
464 S Calico Ave	0.40mi	3/2.0 (-1)	1,669 (-12%)	0mo	$389,500	$233	53
392 S Calico	0.40mi	3/2.0 (-1)	1,669 (-12%)	1mo	$379,500	$227	52

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 · 2.17% rent growth · sell at horizon

5-year hold

• IRR: -20.8%
• Equity multiple: 0.28×
• Total profit: $-58,929
• Equity at exit: $43,836

10-year hold

• IRR: -16.0%
• Equity multiple: 0.14×
• Total profit: $-71,200
• Equity at exit: $25,420

Cash invested: $82,320 (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 72704

• Home prices YoY: -20.2%
• Rents YoY: 2.2%
• Active inventory: 539
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $2,408 high
• Mortgage (P&I): −$1,542
• Tax est. 1.5%: −$368 /mo · $4,410/yr
• Insurance: −$122
• HOA: −$17
• Vacancy / Maint / Mgmt: −$506
• Net cashflow: $-147

Break-even live

Break-even rent $2,593

Max offer price $272,778

Occupancy floor —

Sensitivity live

Price	-10% $57	-5% $-45	+0% $-147	+5% $-248	+10% $-350
Rent	-10% $-337	-5% $-242	+0% $-147	+5% $-52	+10% $44
Rate	-1.0pp $1	-0.5pp $-72	base $-147	+0.5pp $-223	+1.0pp $-300

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: $73,500
• Closing costs: $8,820
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4790 W Planetree St Fayetteville, AR	3.0	2.5	1688	$2,700	$1.60	15d	1	0.23mi
4789 W Triangle St Fayetteville, AR	4.0	3.5	1983	$2,800	$1.41	44d	1	0.30mi
4813 W Triangle St Fayetteville, AR	3.0	2.5	1797	$2,500	$1.39	15d	1	0.30mi
4600 W Colfax Loop Fayetteville, AR	4.0	2.0	1720	$1,995	$1.16	24d	1	0.33mi
4479 W Topeka Ave Fayetteville, AR	3.0	2.0	1669	$2,095	$1.26	15d	1	0.33mi
1164 S Oxbow Way Fayetteville, AR	3.0	2.0	1328	$1,650	$1.24	24d	1	0.34mi
139 S Maroon Ave Fayetteville, AR	4.0	2.5	2009	$2,300	$1.14	44d	1	0.35mi
189 S Geranium Ln Fayetteville, AR	3.0	2.0	1463	$1,950	$1.33	44d	1	0.35mi
4805 W Sturgeon St Fayetteville, AR	4.0	2.0	1871	$2,700	$1.44	15d	1	0.35mi
103 S Maroon Ave Fayetteville, AR	4.0	3.0	1891	$2,750	$1.45	15d	1	0.36mi
4491 W Newton Ave Fayetteville, AR	3.0	2.0	1389	$1,875	$1.35	24d	1	0.36mi
502 S Calico Ave Fayetteville, AR	4.0	2.0	1745	$2,595	$1.49	44d	1	0.37mi
4293 W Bronco Dr Fayetteville, AR	4.0	3.5	2334	$3,000	$1.29	44d	1	0.38mi
416 S Calico Ave Fayetteville, AR	3.0	2.0	1669	$2,295	$1.38	44d	1	0.38mi
112 S Broyles Ave Fayetteville, AR	3.0	2.0	1603	$3,000	$1.87	15d	1	0.42mi
4255 W Bronco Dr Fayetteville, AR	4.0	3.5	2177	$2,800	$1.29	44d	1	0.42mi
4628 W Aurora St Fayetteville, AR	4.0	3.0	2232	$2,800	$1.25	44d	1	0.42mi
53 S Geranium Ln Fayetteville, AR	3.0	2.0	1556	$2,075	$1.33	44d	1	0.43mi
801 S Amarillo Ave Unit 1 Fayetteville, AR	3.0	3.5	2023	$2,150	$1.06	15d	1	0.44mi
4820 W Aurora St Fayetteville, AR	3.0	2.0	1739	$2,145	$1.23	15d	1	0.44mi
4337 W Newton Ave Fayetteville, AR	3.0	2.0	1430	$1,895	$1.33	24d	1	0.45mi
1018 S Benchmark Ln Unit 2 Fayetteville, AR	3.0	3.5	1710	$2,100	$1.23	15d	1	0.46mi
4246 W Buckaroo St Fayetteville, AR	4.0	2.0	1958	$2,345	$1.20	24d	1	0.46mi
510 S Wagon Wheel Ave Fayetteville, AR	3.0	2.0	1670	$2,200	$1.32	24d	1	0.46mi
264 E Anabranch Ct Farmington, AR	3.0	2.0	1314	$1,675	$1.27	15d	1	0.48mi
227 E Anabranch Ct Farmington, AR	3.0	2.0	1370	$1,650	$1.20	44d	1	0.50mi
4234 W Eisenhower Pl Fayetteville, AR	2.0–3.0	2.5	1189	$1,800	$1.51	24d	8	0.51mi
40 E Loveland Loop Farmington, AR	3.0	2.0	1571	$1,900	$1.21	44d	1	0.56mi
4494 W Wales Dr Fayetteville, AR	3.0	2.0	1556	$1,950	$1.25	44d	1	0.59mi
4812 W Monaco Bnd Fayetteville, AR	4.0	2.0	1560	$1,900	$1.22	44d	1	0.60mi
4441 W Anthem Dr Fayetteville, AR	3.0	2.0	1358	$1,850	$1.36	44d	1	0.61mi
4405 W Anthem Dr Fayetteville, AR	3.0	2.0	1353	$2,200	$1.63	24d	1	0.62mi
4476 W Anthem Dr Fayetteville, AR	3.0	2.0	1483	$1,875	$1.26	15d	1	0.62mi
5 E Loveland Loop Farmington, AR	2.0–3.0	2.0–2.5	1365	$1,875	$1.37	14d	15	0.64mi
292 N Mojave St Farmington, AR	3.0	2.0	1615	$2,100	$1.30	24d	1	0.70mi
4192 W Anthem Dr Fayetteville, AR	3.0	2.0	1408	$1,895	$1.35	44d	1	0.70mi
158-426 N Broyles Rd Fayetteville, AR	3.0	2.0	1408	$1,875	$1.33	14d	1	0.72mi
19 W Chikasaw Rd Farmington, AR	3.0	2.0	1606	$2,100	$1.31	14d	1	0.74mi
3829 W Gardenia Dr Fayetteville, AR	3.0	2.0	1376	$2,700	$1.96	24d	1	0.92mi
64 W Gilpin St Farmington, AR	3.0	2.0	1918	$2,395	$1.25	14d	1	0.97mi

HOA detail

• Monthly dues: $17 · $204/yr
• Likely covers: gas

Listing history 2 events

1. 2026-06-05
   remarks 693-char remark
2. 2026-06-05
   listed $294,000 Pending

ⓘ 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 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,893
• − Mortgage interest: −$16,469
• − Property taxes: −$4,410
• − Insurance: −$1,470
• − Repairs & maintenance: −$2,311
• − Management: −$2,311
• − HOA: −$204
• − Depreciation: −$8,553
• Taxable loss: −$6,835
• Est. tax savings @ 24.0%: +$1,640
• After-tax cash flow: $-119/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 · 6 photos

Good 80/100 None rehab

This Harris plan home in The Element neighborhood is move-in ready with a good condition score and minimal repairs needed. It offers a spacious layout, modern finishes, and a well-maintained exterior. Potential buyers and renters can expect a good return on investment with minor updates.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics.
• Both Landscaping improvements — Enhanced landscaping can increase curb appeal and property value.
• Both Adding smart home features — Modern smart home features can increase both resale and rental value.
• Both Upgrading the kitchen appliances — Modern appliances can improve the kitchen's functionality and appeal to potential buyers/renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Enhanced landscaping can increase curb appeal and property value. ↑
• Both Adding smart home features — Modern smart home features can increase both resale and rental value. ↑
• Both Upgrading the kitchen appliances — Modern appliances can improve the kitchen's functionality and appeal to potential buyers/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: Fayetteville School District
• NCES district ID: 0506120
• Math proficiency: 50% ▼ -11.00%
• Reading proficiency: 49% ▼ -8.00%
• Median HH income: $39,595
• Composite: 41.39/100
• National rank: #3477
• State rank: #19 of 238 in AR

Livability — Fayetteville

• Score: 83/100
• State rank: #3
• US rank: #871

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fayetteville, AR
• County: Washington County · 252,056 people
• City population: 118,228
• Metro: Fayetteville-Springdale-Rogers, AR
• Population (ZIP): 32,497
• Household income: $96,014
• Rent vs Own: 34.5% rent · 65.5% own
• Severe rent burden: 883.0

Population outlook (Washington County) Hauer SSP2

• Today (2025): 271,748 people
• By 2030: 296,414 · +9.1%
• By 2040: 346,874 · +27.6%
• By 2050: 398,552 · +46.7%
• By 2075: 523,309 · +92.6%
• By 2100: 615,280 · +126.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Two or more races 14% Hispanic / Latino 7% Black 3% Asian 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 3% Italian 3% Lithuanian 2%
• Foreign-born: 5% · Canada
• Languages at home: 94% English-only · Spanish 3% Other Indo-European 2% Other Asian/Pacific 1%

Political lean MEDSL · Washington

• 2024 margin: Lean R (+6.7) · D 45.1% · R 51.7% · Other 3.2%
• 2008→2024 swing: +6.4pp toward D · 2008: -13.1pp · 2024: -6.7pp
• All cycles: 2024: R+6.7 2020: R+3.9 2016: R+10.4 2012: R+16.3 2008: R+13.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -73.44%
• Current HPI: 289.7478
• Rent YoY: ▲ 2.17%
• Metro: Fayetteville-Springdale-Rogers, AR
• 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

2 events — show timeline

• 2026-06-03 Delisted — NWARMLS
• 2026-06-03 Listed $294,000 NWARMLS