8767 W Athens Ln · Fayetteville, AR 72704

$230,000

4 bd · 1.0 ba · 1,372 sqft · Manufactured public records · 257 Days on market

Built 1978 2.14 ac lot

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Why this score? — see what drove the C- 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 +21.5/30.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• 1% rule +5.1/10.0
• Livability +4.2/5.0
• Schools +3.8/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

VALUE IS IN LAND. -This flat and ready to be built on land off Wedington offers secluded and peaceful country living just minutes from town—only 10 minutes to shops and dining, and about 20–25 minutes to downtown and the University of Arkansas. The manufactured home has zero value—offering a detached 10x20 garage, storage shed, woodshed, well house, carport, plus additional storage buildings (one 10x8 and one 20x20); nearby you’ll find Kessler Mountain trails, Lake Fayetteville, and the Botanical Garden of the Ozarks. Come put your vision to work, and make this one yours!

Key facts

• Well house
• Carport
• Storage shed

Tags

• DETACHED GARAGE
• STORAGE SHED
• WOODSHED
• WELL HOUSE
• CARPORT
• ADDITIONAL STORAGE BUILDINGS

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath manufactured listed at $230k.

Deal economics

• At list price, monthly cash flow is $347 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $230k).
• Recommended offer: $202k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.1% 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-.
• Farmington School District (suburban): math 44% / reading 45% proficiency, ranked #34 of 238 in AR (top 14%) — 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; solid renter incomes; 3,494 units permitted in Washington County in 2024 (1,497 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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

• It's been on market 257 days — a 12% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $40k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $36k; list at $230k implies a 539% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $202,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 257 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
6. 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?
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: 1.01% ✓
• Cap rate: 8.10%
• Cash-on-cash: 6.46%
• DSCR: 1.29
• GRM: 8.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.17% rent growth · sell at horizon

5-year hold

• IRR: -7.3%
• Equity multiple: 0.73×
• Total profit: $-17,133
• Equity at exit: $34,294

10-year hold

• IRR: 1.3%
• Equity multiple: 1.09×
• Total profit: $5,649
• Equity at exit: $19,886

Cash invested: $64,400 (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: 8.3×

Monthly cashflow live

• Estimated rent: $2,322 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$185 /mo · $2,224/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$488
• Net cashflow: $347

Break-even live

Break-even rent $1,883

Max offer price $230,000

Occupancy floor 80%

Sensitivity live

Price	-10% $477	-5% $412	+0% $347	+5% $282	+10% $217
Rent	-10% $163	-5% $255	+0% $347	+5% $438	+10% $530
Rate	-1.0pp $463	-0.5pp $405	base $347	+0.5pp $287	+1.0pp $227

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $230,000 Active 257 DOM
2. 2026-06-17
   days on market $230,000 Active 256 DOM
3. 2026-06-16
   days on market $230,000 Active 255 DOM
4. 2026-06-15
   days on market $230,000 Active 254 DOM
5. 2026-06-14
   days on market $230,000 Active 252 DOM
6. 2026-06-13
   days on market $230,000 Active 251 DOM
7. 2026-06-10
   days on market $230,000 Active 249 DOM
8. 2026-06-09
   days on market $230,000 Active 248 DOM
9. 2026-06-08
   days on market $230,000 Active 247 DOM
10. 2026-06-07
    days on market $230,000 Active 246 DOM
11. 2026-06-05
    days on market $230,000 Active 243 DOM
12. 2026-06-03
    days on market $230,000 Active 242 DOM
13. 2026-06-02
    days on market $230,000 Active 241 DOM
14. 2026-06-01
    days on market $230,000 Active 240 DOM
15. 2026-05-31
    days on market $230,000 Active 239 DOM
16. 2026-05-31
    days on market $230,000 Active 238 DOM
17. 2026-04-24
    status Active 602-char remark

    Show marketing remark (602 chars)

    VALUE IS IN LAND. -This flat and ready to be built on land off Wedington offers secluded and peaceful country living just minutes from town—only 10 minutes to shops and dining, and about 20–25 minutes to downtown and the University of Arkansas. The manufactured home has zero value—offering a detached 10x20 garage, storage shed, woodshed, well house, carport, plus additional storage buildings (one 10x8 and one 20x20); nearby you’ll find Kessler Mountain trails, Lake Fayetteville, and the Botanical Garden of the Ozarks. Come put your vision to work, and make this one yours!

18. 2026-04-08
    status Pending 602-char remark

    Show marketing remark (602 chars)

    VALUE IS IN LAND. -This flat and ready to be built on land off Wedington offers secluded and peaceful country living just minutes from town—only 10 minutes to shops and dining, and about 20–25 minutes to downtown and the University of Arkansas. The manufactured home has zero value—offering a detached 10x20 garage, storage shed, woodshed, well house, carport, plus additional storage buildings (one 10x8 and one 20x20); nearby you’ll find Kessler Mountain trails, Lake Fayetteville, and the Botanical Garden of the Ozarks. Come put your vision to work, and make this one yours!

19. 2026-03-02
    price $230,000 602-char remark

    Show marketing remark (602 chars)

    VALUE IS IN LAND. -This flat and ready to be built on land off Wedington offers secluded and peaceful country living just minutes from town—only 10 minutes to shops and dining, and about 20–25 minutes to downtown and the University of Arkansas. The manufactured home has zero value—offering a detached 10x20 garage, storage shed, woodshed, well house, carport, plus additional storage buildings (one 10x8 and one 20x20); nearby you’ll find Kessler Mountain trails, Lake Fayetteville, and the Botanical Garden of the Ozarks. Come put your vision to work, and make this one yours!

20. 2025-09-17
    listed $270,000 Active 602-char remark

    Show marketing remark (602 chars)

    VALUE IS IN LAND. -This flat and ready to be built on land off Wedington offers secluded and peaceful country living just minutes from town—only 10 minutes to shops and dining, and about 20–25 minutes to downtown and the University of Arkansas. The manufactured home has zero value—offering a detached 10x20 garage, storage shed, woodshed, well house, carport, plus additional storage buildings (one 10x8 and one 20x20); nearby you’ll find Kessler Mountain trails, Lake Fayetteville, and the Botanical Garden of the Ozarks. Come put your vision to work, and make this one yours!

21. 1994-05-11
    soldstatus $36,000

ⓘ 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: $2,224 · $185/mo
• Projected year-2 tax: $2,224 · $185/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 5/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥106°F today · 18 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: $27,859
• − Mortgage interest: −$12,884
• − Property taxes: −$2,224
• − Insurance: −$1,150
• − Repairs & maintenance: −$2,229
• − Management: −$2,229
• − Depreciation: −$6,691
• Taxable income: $454
• Est. tax owed @ 24.0%: −$109
• After-tax cash flow: $4,053/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: Farmington School District
• NCES district ID: 0506090
• Math proficiency: 44% ▼ -15.00%
• Reading proficiency: 45% ▼ -11.00%
• Median HH income: $52,138
• Composite: 38.43/100
• National rank: #4199
• State rank: #34 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

+538.9% since first listed

5 events — show timeline

• 2026-04-24 Relisted — NWARMLS
• 2026-04-08 Pending — NWARMLS
• 2026-03-02 Price Changed $230,000 NWARMLS
• 2025-09-17 Listed $270,000 NWARMLS
• 1994-05-11 Sold (Public Records) $36,000 Public Records

Property tax history

+21.9%/yr

Latest (2025): $2,224 · +0.0% YoY. Source: county tax records.