1122 N 45th St · Fort Smith, AR 72904

$85,000

1 bd · 1.0 ba · 952 sqft · SingleFamily public records · 49 Days on market

Built 1935 6,543 sqft lot Est $78k · 9% over

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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 +16.0/30.0
• DSCR +5.0/10.0
• ARV discount +3.5/15.0
• 1% rule +3.2/10.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor Special!! Older Home on 4 lots. Lots together are 125x131. You could fix the house up, build multi-family units, or both. Right down the road from the University. The property is to be sold as is.

Key facts

• Walking distance
• Newer roof
• Vinyl siding

Tags

• NEWER ROOF
• VINYL SIDING
• GROUND-UP DUPLEX
• WALKING DISTANCE

Property features AI

Exterior

• Parking: Gravel parking
• Utilities: Public water; Public sewer; Electricity available; Natural gas available; Water and sewer available; Public maintained paved road access
• Home design: Single family house; One story; Residential property in Thibaut Place subdivision
• Construction: Vinyl siding
• Exterior features: Corner lot; Partial chain link fencing in back yard; No patio or porch listed; Fiberglass and shingle roof

Interior

• Kitchen: Gas water heater
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (gas)
• Interior features: Other interior features
• Laundry & utility: Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $42 ($509/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 $70k (17.6% below list).
• Recommended offer: $70k (17.6% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 4.3% in Fort Smith — 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 65/100 on livability (#151 in AR) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Fort Smith School District (urban): math 35% / reading 39% proficiency, ranked #106 of 238 in AR (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Albert Pike Elementary School (math 19% / reading 21%, grade F, #376 of 454 statewide, top 84%, 356 students, 90% FRL); William O. Darby Jr. High Sch. (math 20% / reading 30%, grade F, #164 of 201 statewide, top 82%, 700 students, 87% FRL); Northside High School (math 12% / reading 27%, grade F, #239 of 292 statewide, top 85%, 2,433 students, 74% FRL) — zoned schools average 83% FRL vs 64% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 22% at this address vs 37% district-wide (-16 pts) — the specific schools serving this property underperform the Fort Smith School District average; the district grade overstates school quality for this exact location.
• Market conditions: 98 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 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 $588 of loan paydown is wiped out by about $3k 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 49 days — a 3% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $9k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $70,031 (17.6% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
2. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is F 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: 6.89%
• Cash-on-cash: 2.14%
• DSCR: 1.10
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $78,064
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1301 N Albert Pike Ave	0.22mi	2/1.0 (+1)	1,008 (+6%)	15mo	$121,500	$121	62
4001 Macarthur Dr	0.59mi	2/1.0 (+1)	952 (0%)	6mo	$137,500	$144	62
1435 N 35th St	0.71mi	2/1.0 (+1)	956 (+0%)	2mo	$51,700	$54	60
1216 N 45th St	0.07mi	2/1.0 (+1)	842 (-12%)	18mo	$37,500	$45	58
1220 N 35th St	0.65mi	2/1.0 (+1)	907 (-5%)	1mo	$53,000	$58	56
1123 N 35th St	0.67mi	2/1.0 (+1)	990 (+4%)	4mo	$44,000	$44	54
1441 N 36th St	0.65mi	2/1.0 (+1)	917 (-4%)	8mo	$75,000	$82	51
619 N 40th St	0.48mi	2/1.0 (+1)	1,035 (+9%)	11mo	$120,000	$116	49
421 N 40th St	0.67mi	2/1.0 (+1)	1,023 (+8%)	6mo	$26,000	$25	46
1319 N 38th St	0.49mi	2/1.0 (+1)	1,069 (+12%)	7mo	$85,000	$80	46
3515 Alabama Ave	0.69mi	2/1.0 (+1)	896 (-6%)	15mo	$123,000	$137	41
1449 N 36th St	0.66mi	2/1.0 (+1)	1,088 (+14%)	8mo	$110,000	$101	34

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -13.0%
• Equity multiple: 0.53×
• Total profit: $-11,108
• Equity at exit: $12,674

10-year hold

• IRR: -4.0%
• Equity multiple: 0.73×
• Total profit: $-6,342
• Equity at exit: $7,349

Cash invested: $23,800 (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 72904

• Active inventory: 98
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $700 high
• Mortgage (P&I): −$446
• Tax from tax record: −$30 /mo · $356/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$147
• Net cashflow: $42

Break-even live

Break-even rent $647

Max offer price $85,000

Occupancy floor 89%

Sensitivity live

Price	-10% $91	-5% $66	+0% $42	+5% $18	+10% $-6
Rent	-10% $-13	-5% $15	+0% $42	+5% $70	+10% $98
Rate	-1.0pp $85	-0.5pp $64	base $42	+0.5pp $20	+1.0pp $-2

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1224 N Albert Pike Ave Fort Smith, AR	1.0–2.0	1.0	735	$595	$0.81	15d	6	0.21mi
4515 Kinkead Ave Apt 7 Fort Smith, AR	1.0	1.0	750	$650	$0.87	23d	1	0.34mi
3510 Alabama Ave Unit 1 Fort Smith, AR	1.0	1.0	532	$500	$0.94	15d	1	0.70mi
1453 N 35th St Fort Smith, AR	2.0	1.0	913	$900	$0.99	23d	1	0.73mi
3600 Kinkead Ave Fort Smith, AR	1.0–2.0	1.0	797	$795	$1.00	15d	15	0.77mi
3605 Barry Ave Fort Smith, AR	2.0	1.0	562	$770	$1.37	23d	3	0.89mi
1117 N 32nd St Fort Smith, AR	2.0	1.0	744	$850	$1.14	15d	1	0.89mi
5801 Kinkead Ave Fort Smith, AR	1.0–3.0	1.0–2.0	805	$550	$0.68	15d	7	0.93mi
400 Lincoln Ln Fort Smith, AR	1.0–4.0	1.0–4.0	1425	$549	$0.39	15d	16	0.93mi
5900 Kinkead Ave Fort Smith, AR	1.0–3.0	1.0–2.0	870	$600	$0.69	15d	18	1.02mi
2905 Alabama Ave Fort Smith, AR	1.0	1.0	711	$795	$1.12	5d	1	1.07mi
1331 S 46th St Fort Smith, AR	1.0–2.0	1.0–1.5	1075	$710	$0.66	15d	6	1.15mi
3014 Presley St Unit FB44 Fort Smith, AR	2.0	1.5	1040	$925	$0.89	23d	1	1.20mi
3014 Presley St Fort Smith, AR	1.0–2.0	1.0–1.5	782	$725	$0.93	15d	4	1.21mi
501 N May Ave Fort Smith, AR	2.0	1.0	1022	$825	$0.81	23d	1	1.25mi
3906 S N St Unit 3904 Fort Smith, AR	2.0	1.5	1024	$800	$0.78	23d	1	1.31mi
4801 Rogers Ave Fort Smith, AR	1.0–2.0	1.0	719	$600	$0.83	15d	15	1.32mi
2520 N E St Fort Smith, AR	1.0	1.0	550	$675	$1.23	4d	1	1.38mi
3711 Birnie Ave Unit 8 Fort Smith, AR	2.0	1.0	600	$700	$1.17	23d	1	1.39mi
3500 S N St Fort Smith, AR	1.0–2.0	1.0–1.5	834	$735	$0.88	23d	1	1.43mi

Listing history 22 events

1. 2026-06-21
   days on market $85,000 Active 49 DOM
2. 2026-06-19
   days on market $85,000 Active 47 DOM
3. 2026-06-18
   days on market $85,000 Active 46 DOM
4. 2026-06-17
   days on market $85,000 Active 45 DOM
5. 2026-06-16
   days on market $85,000 Active 44 DOM
6. 2026-06-15
   days on market $85,000 Active 43 DOM
7. 2026-06-14
   days on market $85,000 Active 41 DOM
8. 2026-06-13
   days on market $85,000 Active 40 DOM
9. 2026-06-10
   days on market $85,000 Active 38 DOM
10. 2026-06-09
    days on market $85,000 Active 37 DOM
11. 2026-06-08
    days on market $85,000 Active 36 DOM
12. 2026-06-07
    remarks 518-char remark
13. 2026-06-07
    pricedays on market $85,000 Active 35 DOM
14. 2026-06-03
    days on market $89,000 Active 31 DOM
15. 2026-06-02
    days on market $89,000 Active 30 DOM
16. 2026-06-01
    days on market $89,000 Active 29 DOM
17. 2026-05-31
    days on market $89,000 Active 28 DOM
18. 2026-05-30
    days on market $89,000 Active 27 DOM
19. 2026-05-03
    listed $94,000 Active
20. 2023-02-15
    soldstatus $80,000 206-char remark

    Show marketing remark (206 chars)

    Investor Special!! Older Home on 4 lots. Lots together are 125x131. You could fix the house up, build multi-family units, or both. Right down the road from the University. The property is to be sold as is.

21. 2023-01-09
    listed $80,000 206-char remark

    Show marketing remark (206 chars)

    Investor Special!! Older Home on 4 lots. Lots together are 125x131. You could fix the house up, build multi-family units, or both. Right down the road from the University. The property is to be sold as is.

22. 1998-05-29
    soldstatus $18,000

ⓘ 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: $356 · $30/mo
• Projected year-2 tax: $544 · $45/mo
• Expected delta: +$188/yr (+$16/mo · 52.8%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥112°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: $8,404
• − Mortgage interest: −$4,761
• − Property taxes: −$356
• − Insurance: −$425
• − Repairs & maintenance: −$672
• − Management: −$672
• − Depreciation: −$2,473
• Taxable loss: −$956
• Est. tax savings @ 24.0%: +$229
• After-tax cash flow: $738/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: Fort Smith School District
• NCES district ID: 0506330
• Math proficiency: 35% ▼ -11.00%
• Reading proficiency: 39% ▼ -7.00%
• Median HH income: $36,066
• Composite: 30.66/100
• National rank: #6183
• State rank: #106 of 238 in AR

Livability — Fort Smith

• Score: 65/100
• State rank: #151
• US rank: #13185

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fort Smith, AR
• County: Sebastian County · 99,312 people
• City population: 94,356
• Metro: Fort Smith, AR-OK
• Population (ZIP): 21,296
• Household income: $41,909
• Rent vs Own: 46.9% rent · 53.1% own
• Severe rent burden: 851.0

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: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: Hispanic / Latino 44% White 31% Two or more races 11% Black 9% Asian 9% Native American 1%
• Hispanic origin (detail): Mexican 30%
• Common ancestry: Iranian 0%
• Foreign-born: 26% · Canada, Vietnam
• Languages at home: 53% English-only · Spanish 37% Other Asian/Pacific 7% Vietnamese 3%

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: ▼ -81.65%
• Current HPI: 146.2281
• Rent YoY: —
• 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

+422.2% since first listed

4 events — show timeline

• 2026-05-03 Listed $94,000 WRVBOR
• 2023-02-15 Sold (MLS) $80,000 WRVBOR
• 2023-01-09 Listed $80,000 WRVBOR
• 1998-05-29 Sold (Public Records) $18,000 Public Records

Property tax history

+3.2%/yr

Latest (2025): $356 · +8.9% YoY. Source: county tax records.