3904 Marshall Dr · Fort Smith, AR 72904

$147,500

3 bd · 1.0 ba · 1,052 sqft · SingleFamily public records · 8 Days on market

Built 1955 7,257 sqft lot Est $106k · 39% over

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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
• Livability +3.2/5.0
• Schools +3.1/10.0
• DSCR +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.6/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

This place has so much to offer! It has 3 bedrooms, 1 bathroom, and a cozy eat-in kitchen. There's also a bonus room that you can turn into a family room or a master suite. The roof is only 2 years old, the water heater was replaced 4 years ago, and the central heating and air were updated in May 2024. Don't miss out!

Key facts

• Functional kitchen
• Second living space
• Spacious bonus room

Tags

• COZY LAYOUT
• FUNCTIONAL KITCHEN
• SPACIOUS BONUS ROOM
• SECOND LIVING SPACE
• FAMILY ROOM
• CONVENIENTLY LOCATED

Property features AI

Exterior

• Parking: Attached garage with 1 covered space; Concrete driveway; Garage door opener
• Utilities: Public water; Sewer available; Electricity available; Natural gas available; Cable available
• Home design: Single-family house; One story
• Construction: Vinyl siding; Shingle roof
• Exterior features: Back yard fencing; Cleared, level lot; Publicly maintained road access

Interior

• Kitchen: Range; Range hood
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air; Ceiling fan(s)
• 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 $148k.

Deal economics

• At list price, monthly cash flow is $-106 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $129k (12.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $97k (34.1% below list).
• Recommended offer: $97k (34.1% below list) — sets the bar for 1% rule.
• 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: Sunnymede Elementary School (math 23% / reading 27%, grade F, #345 of 454 statewide, top 76%, 468 students, 93% 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 86% FRL vs 64% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 24% at this address vs 37% district-wide (-13 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; 12 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 $1k of loan paydown is wiped out by about $4k 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

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 9y 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.

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 $97,139 (34.1% below list)

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 1955 — 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: 0.66% ✗
• Cap rate: 5.43%
• Cash-on-cash: -3.08%
• DSCR: 0.86
• GRM: 12.7

CMA / ARV

• ARV (on-the-fly): $106,252
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3810 Macarthur Dr	0.23mi	3/1.0	1,127 (+7%)	2mo	$150,000	$133	76
2312 N 35th St	0.34mi	3/1.5	1,107 (+5%)	2mo	$72,600	$66	72
3709 Marshall Dr	0.12mi	3/2.0	1,158 (+10%)	6mo	$156,500	$135	68
3610 N Johnson St	0.66mi	3/1.0	1,068 (+2%)	1mo	$55,000	$51	66
4001 Macarthur Dr	0.24mi	2/1.0 (-1)	952 (-10%)	6mo	$137,500	$144	63
4600 Wirsing Ave	0.74mi	3/1.0	1,040 (-1%)	2mo	$68,000	$65	62
3624 Chaffee Dr	0.24mi	2/1.0 (-1)	1,182 (+12%)	4mo	$62,000	$52	60
3210 N O St	0.58mi	2/1.0 (-1)	992 (-6%)	3mo	$117,000	$118	56
1918 N 29th St	0.64mi	3/1.5	1,134 (+8%)	4mo	$119,000	$105	52
1435 N 35th St	0.59mi	2/1.0 (-1)	956 (-9%)	2mo	$51,700	$54	51
2912 Blair Ave	0.74mi	3/1.0	1,141 (+8%)	1mo	$115,000	$101	50
1220 N 35th St	0.72mi	2/1.0 (-1)	907 (-14%)	1mo	$53,000	$58	38

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: -21.5%
• Equity multiple: 0.26×
• Total profit: $-30,736
• Equity at exit: $21,993

10-year hold

• IRR: -15.3%
• Equity multiple: 0.13×
• Total profit: $-35,773
• Equity at exit: $12,753

Cash invested: $41,300 (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: 12.7×

Monthly cashflow live

• Estimated rent: $971 high
• Mortgage (P&I): −$774
• Tax from tax record: −$39 /mo · $463/yr
• Insurance: −$61
• HOA: −$0
• Vacancy / Maint / Mgmt: −$204
• Net cashflow: $-106

Break-even live

Break-even rent $1,106

Max offer price $128,751

Occupancy floor —

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: $36,875
• Closing costs: $4,425
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4300 Wynnewood Dr Unit 2 Fort Smith, AR	2.0	2.0	1200	$1,100	$0.92	21d	1	0.37mi
1453 N 35th St Fort Smith, AR	2.0	1.0	913	$900	$0.99	21d	1	0.53mi
2409 N 30th St Unit 1 Fort Smith, AR	2.0	2.5	1258	$950	$0.76	21d	1	0.67mi
1224 N Albert Pike Ave Fort Smith, AR	1.0–2.0	1.0	735	$695	$0.95	13d	6	0.69mi
1117 N 32nd St Fort Smith, AR	2.0	1.0	744	$850	$1.14	13d	1	0.89mi
811 N 41st St Fort Smith, AR	2.0	1.0	1306	$900	$0.69	13d	1	0.95mi
813 N 48th St Fort Smith, AR	2.0	1.0	1170	$800	$0.68	21d	1	1.12mi
3600 Kinkead Ave Fort Smith, AR	1.0–2.0	1.0	797	$1,490	$1.87	13d	15	1.22mi
3605 Barry Ave Fort Smith, AR	2.0	1.0	562	$845	$1.50	21d	3	1.41mi
501 N May Ave Fort Smith, AR	2.0	1.0	1022	$825	$0.81	21d	1	1.45mi
5201 Spradling Ave Fort Smith, AR	2.0	1.0	820	$780	$0.95	3d	4	1.47mi
1801 Wirsing Ave Unit B Fort Smith, AR	2.0	1.0	896	$995	$1.11	13d	1	1.47mi

Listing history 8 events

1. 2026-06-19
   days on market $147,500 Active 8 DOM
2. 2026-06-18
   days on market $147,500 Active 7 DOM
3. 2026-06-17
   days on market $147,500 Active 6 DOM
4. 2026-06-16
   days on market $147,500 Active 5 DOM
5. 2026-06-15
   days on market $147,500 Active 4 DOM
6. 2026-06-14
   days on market $147,500 Active 2 DOM
7. 2026-06-13
   remarks 282-char remark
8. 2026-06-13
   listed $147,500 Active 1 DOM

ⓘ 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: $463 · $39/mo
• Projected year-2 tax: $944 · $79/mo
• Expected delta: +$481/yr (+$40/mo · 104.0%)

ⓘ 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 ≥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: $11,657
• − Mortgage interest: −$8,262
• − Property taxes: −$463
• − Insurance: −$738
• − Repairs & maintenance: −$933
• − Management: −$933
• − Depreciation: −$4,291
• Taxable loss: −$3,962
• Est. tax savings @ 24.0%: +$951
• After-tax cash flow: $-323/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

+146.2% since first listed

12 events — show timeline

• 2026-06-11 Listed $147,500 WRVBOR
• 2024-12-27 Sold (MLS) $130,000 NWARMLS
• 2024-12-16 Sold (Public Records) $130,000 Public Records
• 2024-12-13 Sold (MLS) $130,000 WRVBOR
• 2024-11-08 Pending — NWARMLS
• 2024-11-03 Pending — WRVBOR
• 2024-10-24 Price Changed $139,900 NWARMLS
• 2024-10-24 Price Changed $139,900 WRVBOR
• 2024-06-07 Listed $147,500 WRVBOR
• 2024-06-07 Listed $147,500 NWARMLS
• 2019-03-29 Sold (MLS) $39,985 WRVBOR
• 2017-08-21 Listed $59,900 WRVBOR

Property tax history

+1.4%/yr

Latest (2025): $463 · -29.9% YoY. Source: county tax records.