9423 Gate Nine Cutoff · Fort Smith, AR 72916

$167,000

3 bd · 1.5 ba · 1,284 sqft · SingleFamily public records · 344 Days on market

9,200 sqft lot $130/sqft · at area comps Est $164k · at est.

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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 +23.2/30.0
• DSCR +7.5/10.0
• ARV discount +6.6/15.0
• 1% rule +5.0/10.0
• Schools +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located south of Fort Smith in the coveted Greenwood school district lies this adorable home. This 3 bedroom 1.5 bath home has been remodeled and updated. Wood-look ceramic tile, vinyl double pane storm windows, roof was replaced in 2021. Septic was flushed and serviced in 2022. Fully fenced back yard. Perfect for a first time home buyer or someone wanting to downsize. Ask about how you can get this home with $0.00 down. USDA/RD loan available to qualified buyers.

Key facts

• Roof replaced
• 9,200 sq ft lot
• Listed 343 days

Tags

• GREENWOOD SCHOOL DISTRICT
• REMODELED AND UPDATED
• ROOF REPLACED
• FULLY FENCED BACK YARD

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $167k.

Deal economics

• At list price, monthly cash flow is $304 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $166k (0.4% below list).
• Recommended offer: $147k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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: schools D, crime F, amenities F.
• Greenwood School District (town): math 59% / reading 58% proficiency, ranked #5 of 238 in AR (top 2%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+1.6%/yr); 235 active listings in the ZIP; solid renter incomes; 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 $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 344 days — a 12% lower offer ($147k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y ago; this cycle's ask has dropped $11k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $117k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $146,960 (12.0% below list)

Questions for the listing agent

1. It's been on market 344 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
7. 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.
8. 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: 1.00% ✗
• Cap rate: 8.48%
• Cash-on-cash: 7.80%
• DSCR: 1.35
• GRM: 8.4

CMA / ARV

• ARV (median comp): $163,778
• List price: $167,000
• Delta: 1.97%
• Verdict: FAIR
• Comps: 9 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.57% rent growth · sell at horizon

5-year hold

• IRR: -5.9%
• Equity multiple: 0.78×
• Total profit: $-10,120
• Equity at exit: $24,900

10-year hold

• IRR: 2.1%
• Equity multiple: 1.14×
• Total profit: $6,457
• Equity at exit: $14,439

Cash invested: $46,760 (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 72916

• Home prices YoY: -20.1%
• Rents YoY: 1.6%
• Active inventory: 235
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,663 medium
• Mortgage (P&I): −$876
• Tax from tax record: −$65 /mo · $774/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $304

Break-even live

Break-even rent $1,278

Max offer price $167,000

Occupancy floor 77%

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: $41,750
• Closing costs: $5,010
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-19
   days on market $167,000 Active 344 DOM
2. 2026-06-18
   days on market $167,000 Active 343 DOM
3. 2026-06-17
   days on market $167,000 Active 342 DOM
4. 2026-06-16
   days on market $167,000 Active 341 DOM
5. 2026-06-15
   days on market $167,000 Active 340 DOM
6. 2026-06-14
   days on market $167,000 Active 338 DOM
7. 2026-06-13
   days on market $167,000 Active 337 DOM
8. 2026-06-10
   days on market $167,000 Active 335 DOM
9. 2026-06-09
   days on market $167,000 Active 334 DOM
10. 2026-06-08
    days on market $167,000 Active 333 DOM
11. 2026-06-07
    days on market $167,000 Active 332 DOM
12. 2026-06-05
    days on market $167,000 Active 329 DOM
13. 2026-06-03
    days on market $167,000 Active 328 DOM
14. 2026-06-02
    days on market $167,000 Active 327 DOM
15. 2026-06-01
    days on market $167,000 Active 326 DOM
16. 2026-05-31
    days on market $167,000 Active 325 DOM
17. 2026-05-30
    days on market $167,000 Active 324 DOM
18. 2026-04-19
    price $167,000 470-char remark

    Show marketing remark (470 chars)

    Located south of Fort Smith in the coveted Greenwood school district lies this adorable home. This 3 bedroom 1.5 bath home has been remodeled and updated. Wood-look ceramic tile, vinyl double pane storm windows, roof was replaced in 2021. Septic was flushed and serviced in 2022. Fully fenced back yard. Perfect for a first time home buyer or someone wanting to downsize. Ask about how you can get this home with $0.00 down. USDA/RD loan available to qualified buyers.

19. 2025-08-11
    price $169,900 470-char remark

    Show marketing remark (470 chars)

    Located south of Fort Smith in the coveted Greenwood school district lies this adorable home. This 3 bedroom 1.5 bath home has been remodeled and updated. Wood-look ceramic tile, vinyl double pane storm windows, roof was replaced in 2021. Septic was flushed and serviced in 2022. Fully fenced back yard. Perfect for a first time home buyer or someone wanting to downsize. Ask about how you can get this home with $0.00 down. USDA/RD loan available to qualified buyers.

20. 2025-07-28
    price $176,000 470-char remark

    Show marketing remark (470 chars)

    Located south of Fort Smith in the coveted Greenwood school district lies this adorable home. This 3 bedroom 1.5 bath home has been remodeled and updated. Wood-look ceramic tile, vinyl double pane storm windows, roof was replaced in 2021. Septic was flushed and serviced in 2022. Fully fenced back yard. Perfect for a first time home buyer or someone wanting to downsize. Ask about how you can get this home with $0.00 down. USDA/RD loan available to qualified buyers.

21. 2025-07-10
    listed $178,000 Active 470-char remark

    Show marketing remark (470 chars)

    Located south of Fort Smith in the coveted Greenwood school district lies this adorable home. This 3 bedroom 1.5 bath home has been remodeled and updated. Wood-look ceramic tile, vinyl double pane storm windows, roof was replaced in 2021. Septic was flushed and serviced in 2022. Fully fenced back yard. Perfect for a first time home buyer or someone wanting to downsize. Ask about how you can get this home with $0.00 down. USDA/RD loan available to qualified buyers.

22. 2021-07-16
    soldstatus $117,000
23. 2021-07-15
    soldstatus $117,000 190-char remark

    Show marketing remark (190 chars)

    Nice Brick home with lots of charm, with cozy living area , nice size Master Bedroom with two closets. Newer Roof and Hot water Heater. Will make a great starter home or Investment property!

24. 2021-05-23
    listed $115,000 190-char remark

    Show marketing remark (190 chars)

    Nice Brick home with lots of charm, with cozy living area , nice size Master Bedroom with two closets. Newer Roof and Hot water Heater. Will make a great starter home or Investment property!

25. 1996-09-06
    soldstatus $39,000
26. 1996-01-31
    soldstatus $29,000
27. 1990-03-02
    soldstatus $37,000
28. 1987-02-12
    soldstatus $37,000

ⓘ 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: $774 · $65/mo
• Projected year-2 tax: $1,069 · $89/mo
• Expected delta: +$295/yr (+$25/mo · 38.1%)

ⓘ 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 7/10 Severe
• 🌡 Heat 6/10 Major 7 d/yr ≥111°F today · 21 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: $19,958
• − Mortgage interest: −$9,355
• − Property taxes: −$774
• − Insurance: −$835
• − Repairs & maintenance: −$1,597
• − Management: −$1,597
• − Depreciation: −$4,858
• Taxable income: $943
• Est. tax owed @ 24.0%: −$226
• After-tax cash flow: $3,422/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: Greenwood School District
• NCES district ID: 0506990
• Math proficiency: 59% ▼ -9.00%
• Reading proficiency: 58% ▼ -4.00%
• Median HH income: $55,015
• Composite: 50.33/100
• National rank: #1879
• State rank: #5 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

• County: Sebastian County · 99,312 people
• City population: 94,356
• Metro: Fort Smith, AR-OK
• Population (ZIP): 11,711
• Household income: $87,983
• Rent vs Own: 28.7% rent · 71.3% own
• Severe rent burden: 141.0

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: Predominantly White (75%)
• Race & ethnicity: White 75% Two or more races 10% Asian 7% Hispanic / Latino 6% Black 4%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Italian 4% Scandinavian 2% Slovak 2%
• Foreign-born: 6% · Canada
• Languages at home: 89% English-only · Spanish 3% Other Asian/Pacific 3% German/W. Germanic 2%

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: ▼ -54.92%
• Current HPI: 218.0302
• Rent YoY: ▲ 1.57%
• 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

+351.4% since first listed

11 events — show timeline

• 2026-04-19 Price Changed $167,000 WRVBOR
• 2025-08-11 Price Changed $169,900 WRVBOR
• 2025-07-28 Price Changed $176,000 WRVBOR
• 2025-07-10 Listed $178,000 WRVBOR
• 2021-07-16 Sold (Public Records) $117,000 Public Records
• 2021-07-15 Sold (MLS) $117,000 WRVBOR
• 2021-05-23 Listed $115,000 WRVBOR
• 1996-09-06 Sold (Public Records) $39,000 Public Records
• 1996-01-31 Sold (Public Records) $29,000 Public Records
• 1990-03-02 Sold (Public Records) $37,000 Public Records
• 1987-02-12 Sold (Public Records) $37,000 Public Records

Property tax history

+2.0%/yr

Latest (2025): $774 · +8.6% YoY. Source: county tax records.