1609 S R St · Fort Smith, AR 72901

$1

4 bd · 1.0 ba · 1,508 sqft · SingleFamily public records · 26 Days on market

Built 1950 9,148 sqft lot

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Why this score? — see what drove the F 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 +9.4/30.0
• ARV discount +7.5/15.0
• Rent growth +3.6/5.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• 1% rule +2.8/10.0
• DSCR +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

* * * Auction Friday, May 29, 2026 at 1:00 pm on site. * * * This is a 4 bedroom, 2 bath that needs TLC with building and carport

Key facts

• 9,148 sq ft lot
• Built 1950
• Listed 26 days

Property features AI

Finance

• Other: Residential zoning

Exterior

• Parking: Detached carport with 1 covered space; Concrete parking surface
• Utilities: Public water; Public sewer; Electricity available; Water available; Sewer available
• Home design: Single-family residence; One story; House
• Construction: Brick and vinyl siding; Block foundation; Asphalt shingle roof; Built as a house (one level)
• Exterior features: Chain link partial fencing; Level lot; Public maintained road; Subdivision: Bailey

Interior

• Flooring: Laminate; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (natural gas); Central electric air conditioning
• Interior features: Gas water heater; Laminate and wood flooring
• Laundry & utility: Gas dryer hookup

🔨 Auction listing. The $1 list price is a nominal opening bid, not a real ask — every metric below is computed on the estimated value $153,816 (ARV from comps), not the list price.

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $1.

Deal economics

• At list price, monthly cash flow is $-109 ($-1k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $1).
• Cap rate 5.4% vs local median 4.3% in Fort Smith — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: Fairview Elementary School (math 50% / reading 38%, grade F, #164 of 454 statewide, top 37%, 458 students, 77% 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 81% FRL vs 64% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.4%/yr); 174 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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).
• This rent runs 34% of the median local income ($43k/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 $1k of loan paydown is wiped out by about $5k 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 26 days — a 2% lower offer ($0) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 230724.0% of price; built in 1950 — 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 $1

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. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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?
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 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: 0.78% ✗
• Cap rate: 5.44%
• Cash-on-cash: -3.04%
• DSCR: 0.86
• GRM: 10.6

CMA / ARV

• ARV (on-the-fly): $153,816
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2311 S N St	0.57mi	3/1.0 (-1)	1,534 (+2%)	2mo	$200,000	$130	64
2009 S P St. St	0.29mi	3/1.0 (-1)	1,390 (-8%)	9mo	$95,000	$68	61
722 S 19th St	0.75mi	3/1.0 (-1)	1,505 (-0%)	3mo	$135,000	$90	57
2035 S L St	0.51mi	3/1.0 (-1)	1,425 (-6%)	8mo	$73,700	$52	56
2204 S 26th St	0.69mi	3/1.0 (-1)	1,531 (+2%)	6mo	$208,000	$136	55
2104 S S St	0.34mi	3/2.0 (-1)	1,694 (+12%)	2mo	$210,000	$124	53
2115 Packard Pl	0.61mi	3/2.0 (-1)	1,577 (+5%)	4mo	$170,000	$108	52
2017 South M St	0.43mi	3/2.0 (-1)	1,370 (-9%)	10mo	$136,700	$100	47
2307 S 23 St	0.58mi	3/2.5 (-1)	1,356 (-10%)	2mo	$93,379	$69	44
1123 S 22nd St	0.61mi	3/2.0 (-1)	1,393 (-8%)	10mo	$175,000	$126	41
2825 S 18th St	0.67mi	3/2.0 (-1)	1,668 (+11%)	6mo	$170,000	$102	37
2115 Country Club Dr	0.68mi	3/1.5 (-1)	1,298 (-14%)	6mo	$110,000	$85	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 · 4.37% rent growth · sell at horizon

5-year hold

• IRR: -19.8%
• Equity multiple: 0.30×
• Total profit: $-30,171
• Equity at exit: $22,934

10-year hold

• IRR: -10.1%
• Equity multiple: 0.35×
• Total profit: $-28,031
• Equity at exit: $13,299

Cash invested: $43,068 (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

Monthly cashflow live

• Estimated rent: $1,207 medium
• Mortgage (P&I): −$807
• Tax est. 1.5%: −$192 /mo · $2,307/yr
• Insurance: −$64
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $-109

Break-even live

Break-even rent $1,346

Max offer price $138,023

Occupancy floor —

Sensitivity live

Price	-10% $-3	-5% $-56	+0% $-109	+5% $-162	+10% $-215
Rent	-10% $-205	-5% $-157	+0% $-109	+5% $-61	+10% $-14
Rate	-1.0pp $-32	-0.5pp $-70	base $-109	+0.5pp $-149	+1.0pp $-190

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: $38,454
• Closing costs: $4,614
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2200 S 17th St Unit D Fort Smith, AR	3.0	2.0	1123	$975	$0.87	22d	1	0.24mi
1307 S 17th St Fort Smith, AR	3.0	1.5	1161	$1,150	$0.99	22d	1	0.36mi
2307 S 23rd St Fort Smith, AR	3.0	2.5	1356	$1,595	$1.18	22d	1	0.60mi
3101 Park Ave Fort Smith, AR	3.0	2.0	1634	$1,650	$1.01	14d	1	1.36mi

Listing history 5 events

1. 2026-06-02
   status $1 Pending 26 DOM
2. 2026-06-01
   days on market $1 Active 26 DOM
3. 2026-05-31
   days on market $1 Active 25 DOM
4. 2026-05-30
   days on market $1 Active 24 DOM
5. 2026-05-06
   listed $1 Active

ⓘ 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 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: $14,489
• − Mortgage interest: −$8,616
• − Property taxes: −$2,307
• − Insurance: −$769
• − Repairs & maintenance: −$1,159
• − Management: −$1,159
• − Depreciation: −$4,475
• Taxable loss: −$3,996
• Est. tax savings @ 24.0%: +$959
• After-tax cash flow: $-351/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

Property tax history

+8.7%/yr

Latest (2025): $756 · +9.0% YoY. Source: county tax records.