1700 S Carthage St · Fort Smith, AR 72901

$325,000

8 bd · 4.0 ba · 3,965 sqft · MultiFamily public records · 135 Days on market

0.36 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 +21.3/30.0
• ARV discount +7.5/15.0
• DSCR +6.8/10.0
• 1% rule +4.6/10.0
• Rent growth +3.6/5.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Sold

Key facts

• Strong rental demand
• Fully leased units
• Consistent cash flow

Tags

• TURNKEY FOURPLEX OPPORTUNITY
• INCOME PRODUCING PROPERTY
• FULLY LEASED UNITS
• STRONG RENTAL DEMAND
• CONSISTENT CASH FLOW
• FUNCTIONAL LAYOUTS

Property features AI

Finance

• Other: Property offered as residential income (quadruplex)
• Financial info: Multiple 2-bedroom/1-bath units with listed rents (examples shown): $795, $650, $750; Units listed as including water and sewer; tenants pay cable and electric

Exterior

• Parking: Concrete parking lot
• Security: Smoke detector(s)
• Utilities: Water included for units; Sewer included for units; Electric service (tenant pays electric); Tenants responsible for cable
• Home design: Residential income property; Quadruplex; Two-story building
• Construction: Brick construction; Shingle roof; Slab foundation
• Exterior features: Cleared corner lot; Publicly maintained road; Smoke detectors

Interior

• Kitchen: No kitchen appliance list provided
• Bedrooms: Multiple 2-bedroom units (each unit listed as 2 bedrooms)
• Flooring: Vinyl
• Bathrooms: Units with 1 bathroom each
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Electric water heater; Vinyl flooring
• Laundry & utility: Electric dryer hookup; Units include water and sewer; tenants pay cable and electric

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $325k.

Deal economics

• At list price, monthly cash flow is $477 ($6k/yr) — positive. Per door: $119/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $312k (3.9% below list).
• Recommended offer: $286k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.1% 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: schools D, crime F, amenities 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.
• Market conditions: Rents rising fast (+4.4%/yr); 174 active listings in the ZIP; lower-income renter base — watch delinquency; 388 units permitted in Sebastian County in 2024 (16 in 5+ unit buildings).
• At $3,122/mo this rent would consume 87% of the median local household income ($43k/yr) (locally 1117% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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 135 days — a 12% lower offer ($286k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y 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.
• Current owner paid $270k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• 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 $286,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 135 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.96% ✗
• Cap rate: 8.06%
• Cash-on-cash: 6.29%
• DSCR: 1.28
• GRM: 8.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.37% rent growth · sell at horizon

5-year hold

• IRR: -5.2%
• Equity multiple: 0.80×
• Total profit: $-18,012
• Equity at exit: $48,459

10-year hold

• IRR: 5.8%
• Equity multiple: 1.46×
• Total profit: $41,418
• Equity at exit: $28,100

Cash invested: $91,000 (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 72901

• Rents YoY: 4.4%
• Active inventory: 174
• Price-to-rent: 34.7×

Monthly cashflow live

• Estimated rent: $3,122 high
• Mortgage (P&I): −$1,704
• Tax from tax record: −$149 /mo · $1,792/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$656
• Net cashflow: $477

Break-even live

Break-even rent $2,518

Max offer price $325,000

Occupancy floor 80%

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$3,124
Total (4 units)			$3,122

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-19
   days on market $325,000 Active 135 DOM
2. 2026-06-18
   days on market $325,000 Active 134 DOM
3. 2026-06-17
   days on market $325,000 Active 133 DOM
4. 2026-06-16
   days on market $325,000 Active 132 DOM
5. 2026-06-15
   days on market $325,000 Active 131 DOM
6. 2026-06-14
   days on market $325,000 Active 129 DOM
7. 2026-06-13
   days on market $325,000 Active 128 DOM
8. 2026-06-10
   days on market $325,000 Active 126 DOM
9. 2026-06-09
   days on market $325,000 Active 125 DOM
10. 2026-06-08
    days on market $325,000 Active 124 DOM
11. 2026-06-07
    days on market $325,000 Active 123 DOM
12. 2026-06-03
    days on market $325,000 Active 119 DOM
13. 2026-06-02
    days on market $325,000 Active 118 DOM
14. 2026-06-01
    days on market $325,000 Active 117 DOM
15. 2026-05-31
    days on market $325,000 Active 116 DOM
16. 2026-05-30
    days on market $325,000 Active 115 DOM
17. 2026-02-04
    listed $325,000 Active
18. 2021-12-17
    soldstatus $270,000 4-char remark

    Show marketing remark (4 chars)

    Sold

19. 2021-12-17
    listed $270,000 4-char remark

    Show marketing remark (4 chars)

    Sold

20. 2021-12-17
    soldstatus $270,000

    Show marketing remark (4 chars)

    Sold

21. 2018-12-21
    soldstatus $155,000 4-char remark

    Show marketing remark (4 chars)

    sold

22. 2018-12-14
    listed $155,000 4-char remark

    Show marketing remark (4 chars)

    sold

23. 2013-06-05
    soldstatus $130,000

ⓘ 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: $1,792 · $149/mo
• Projected year-2 tax: $2,080 · $173/mo
• Expected delta: +$288/yr (+$24/mo · 16.1%)

ⓘ 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 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥111°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $37,464
• − Mortgage interest: −$18,205
• − Property taxes: −$1,792
• − Insurance: −$1,625
• − Repairs & maintenance: −$2,997
• − Management: −$2,997
• − Depreciation: −$9,455
• Taxable income: $393
• Est. tax owed @ 24.0%: −$94
• After-tax cash flow: $5,633/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): 19,819
• Household income: $42,851
• Rent vs Own: 56.7% rent · 43.3% own
• Severe rent burden: 1117.0

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 0.60)
• Race & ethnicity: White 60% Hispanic / Latino 17% Two or more races 12% Black 10% Asian 2%
• Hispanic origin (detail): Mexican 11% Puerto Rican 1%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 1%
• Foreign-born: 9% · Canada, Vietnam, Guatemala
• Languages at home: 83% English-only · Spanish 14% Other Asian/Pacific 1% Vietnamese 1%

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: ▼ -173.82%
• Current HPI: 172.3777
• Rent YoY: ▲ 4.37%
• 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

+150.0% since first listed

7 events — show timeline

• 2026-02-04 Listed $325,000 WRVBOR
• 2021-12-17 Sold (Public Records) $270,000 Public Records
• 2021-12-17 Listed $270,000 WRVBOR
• 2021-12-17 Sold (MLS) $270,000 WRVBOR
• 2018-12-21 Sold (MLS) $155,000 WRVBOR
• 2018-12-14 Listed $155,000 WRVBOR
• 2013-06-05 Sold (Public Records) $130,000 Public Records

Property tax history

+3.4%/yr

Latest (2025): $1,792 · +8.9% YoY. Source: county tax records.