4603 N 32nd St · Fort Smith, AR 72904

$75,900

3 bd · 1.0 ba · 1,183 sqft · SingleFamily public records · 246 Days on market

Built 1955 10,049 sqft lot

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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 +29.1/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• 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

This 2-bedroom, 1-bath home located in an established neighborhood perfect for a first home buyer or add to your rental portfolio . 286 sq ft enclosed garage that can serve as a 3rd bedroom or flex room Inside, you'll find an eat-in kitchen and a layout that allows for both everyday living and future updates to fit your style. The fenced backyard provides room for pets, play, or gardening. This property has solid potential. Whether you're a buyer looking for an affordable home to make your own or an investor seeking your next project, this one is worth a closer look!

Key facts

• Enclosed garage
• Eat-in kitchen
• Fenced backyard

Tags

• ENCLOSED GARAGE
• FENCED BACKYARD
• EAT-IN KITCHEN

Property features AI

Exterior

• Parking: Concrete parking
• Utilities: Public water; Public sewer; Electricity available; Natural gas available; Sewer available; Water available
• Home design: Single family residence; One story; Residential property
• Construction: Vinyl siding; Shingle roof; House structure
• Exterior features: Back yard fencing; Public maintained road access

Interior

• Kitchen: Oven; Range
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (natural gas); Central air conditioning; Ceiling fan(s); Electric cooling
• Interior features: Ceiling fans; Eat-in kitchen
• Laundry & utility: Washer hookup; Electric dryer hookup; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $76k.

Deal economics

• At list price, monthly cash flow is $263 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($940 rent vs $76k).
• Recommended offer: $67k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.5% 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: Harry C. Morrison Elem. School (math 22% / reading 22%, grade F, #365 of 454 statewide, top 82%, 275 students, 91% FRL); Dora Kimmons Jr. High School (math 22% / reading 32%, grade F, #156 of 201 statewide, top 78%, 841 students, 91% FRL); Northside High School (math 12% / reading 27%, grade F, #239 of 292 statewide, top 85%, 2,433 students, 74% FRL) — zoned schools average 85% FRL vs 64% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 23% at this address vs 37% district-wide (-14 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: 96 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $525 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 246 days — a 12% lower offer ($67k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $7k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1955 — 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 $66,792 (12.0% below list)

Questions for the listing agent

1. It's been on market 246 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 1955 — 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 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?
6. 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?
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: 1.24% ✓
• Cap rate: 10.45%
• Cash-on-cash: 14.86%
• DSCR: 1.66
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $160,888
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4214 Oak Park Cir	0.34mi	3/2.0	1,176 (-1%)	2mo	$170,000	$145	78
4717 N 33rd St	0.13mi	3/2.0	1,267 (+7%)	2mo	$159,900	$126	77
4700 N 31st St	0.13mi	3/2.0	1,301 (+10%)	1mo	$160,000	$123	73
3513 Eller Ave	0.41mi	3/2.0	1,195 (+1%)	3mo	$175,000	$146	72
16 Northwood Dr	0.18mi	4/2.0 (+1)	1,250 (+6%)	4mo	$150,000	$120	70
4208 Walnut Park Dr	0.38mi	3/2.0	1,202 (+2%)	8mo	$169,000	$141	69
3002 Neis St	0.45mi	3/1.0	1,263 (+7%)	1mo	$119,900	$95	66
3118 Neis St	0.42mi	2/2.0 (-1)	1,154 (-2%)	8mo	$155,000	$134	61
4209 Walnut Park Dr	0.40mi	3/2.0	1,098 (-7%)	6mo	$170,000	$155	60
3425 Santa Fe St	0.41mi	3/1.0	1,344 (+14%)	0mo	$140,000	$104	58
3605 Wilma Ave	0.44mi	3/1.0	1,014 (-14%)	1mo	$157,000	$155	55
3514 Clayton Ct	0.59mi	2/2.0 (-1)	1,154 (-2%)	9mo	$157,500	$136	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 5.4%
• Equity multiple: 1.21×
• Total profit: $4,446
• Equity at exit: $11,317

10-year hold

• IRR: 14.8%
• Equity multiple: 2.19×
• Total profit: $25,396
• Equity at exit: $6,562

Cash invested: $21,252 (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: 96
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $940 high
• Mortgage (P&I): −$398
• Tax from tax record: −$50 /mo · $597/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$197
• Net cashflow: $263

Break-even live

Break-even rent $607

Max offer price $75,900

Occupancy floor 67%

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: $18,975
• Closing costs: $2,277
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4101 Walnut Park Dr Unit 4109 WP Fort Smith, AR	3.0	2.0	1272	$825	$0.65	21d	1	0.47mi
2409 N 30th St Unit 1 Fort Smith, AR	2.0	2.5	1258	$950	$0.76	21d	1	1.43mi
5201 Spradling Ave Fort Smith, AR	2.0	1.0	820	$780	$0.95	3d	4	1.43mi
1801 Wirsing Ave Unit B Fort Smith, AR	2.0	1.0	896	$995	$1.11	13d	1	1.46mi
4114 N 54th St Unit A Fort Smith, AR	2.0	1.5	1050	$950	$0.90	21d	1	1.47mi

Listing history 22 events

1. 2026-06-19
   days on market $75,900 Active 246 DOM
2. 2026-06-18
   days on market $75,900 Active 245 DOM
3. 2026-06-17
   days on market $75,900 Active 244 DOM
4. 2026-06-16
   days on market $75,900 Active 243 DOM
5. 2026-06-15
   days on market $75,900 Active 242 DOM
6. 2026-06-14
   days on market $75,900 Active 240 DOM
7. 2026-06-13
   days on market $75,900 Active 239 DOM
8. 2026-06-10
   days on market $75,900 Active 237 DOM
9. 2026-06-09
   days on market $75,900 Active 236 DOM
10. 2026-06-08
    days on market $75,900 Active 235 DOM
11. 2026-06-07
    days on market $75,900 Active 234 DOM
12. 2026-06-03
    days on market $75,900 Active 230 DOM
13. 2026-06-02
    days on market $75,900 Active 229 DOM
14. 2026-06-01
    days on market $75,900 Active 228 DOM
15. 2026-05-31
    remarks 573-char remark
16. 2026-05-31
    pricedays on market $75,900 Active 227 DOM
17. 2026-05-30
    days on market $79,500 Active 226 DOM
18. 2026-05-18
    status Active
19. 2026-04-27
    status Pending
20. 2025-10-28
    price $79,500
21. 2025-09-25
    listed $82,500 Active
22. 2023-07-13
    soldstatus $77,000

ⓘ 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: $597 · $50/mo
• Projected year-2 tax: $597 · $50/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 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥111°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: $11,279
• − Mortgage interest: −$4,252
• − Property taxes: −$597
• − Insurance: −$380
• − Repairs & maintenance: −$902
• − Management: −$902
• − Depreciation: −$2,208
• Taxable income: $2,038
• Est. tax owed @ 24.0%: −$489
• After-tax cash flow: $2,668/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

+3.2% since first listed

5 events — show timeline

• 2026-05-18 Relisted — WRVBOR
• 2026-04-27 Pending — WRVBOR
• 2025-10-28 Price Changed $79,500 WRVBOR
• 2025-09-25 Listed $82,500 WRVBOR
• 2023-07-13 Sold (Public Records) $77,000 Public Records

Property tax history

+3.1%/yr

Latest (2025): $597 · +8.9% YoY. Source: county tax records.