723 S 20 · Fort Smith, AR 72901

$140,000

6 bd · 2.0 ba · 1,608 sqft · SingleFamily public records · 88 Days on market

7,013 sqft lot ↓ 20% since listing

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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 +4.8/10.0
• 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

Listing remarks MLS

Dual-Income Potential on One Lot! This unique property features two separate homes, offering incredible versatility for an investor or multi-generational living. Main House (4B/2B, ~1,400 sq. ft. ): Full of character with beautiful original hardwood floors and a charming loft bedroom upstairs. It needs just a bit of TLC to shine but is solid and ready for your finishing touches. Garage Apartment (2B/1B, ~1,000 sq. ft. ): Completely updated with fresh flooring throughout and ready for immediate occupancy. Both residences are individually fenced, providing privacy for tenants or pets. Sold AS-IS, this is a turn-key opportunity. * * * Also listed as Residental 1087713

Key facts

• Fresh flooring
• Two separate homes
• Completely updated

Tags

• DUAL-INCOME POTENTIAL
• TWO SEPARATE HOMES
• ORIGINAL HARDWOOD FLOORS
• CHARMING LOFT BEDROOM
• COMPLETELY UPDATED
• FRESH FLOORING

Property features AI

Exterior

• Parking: 1 covered parking space; Gravel parking
• Utilities: Public water; Electricity available; Natural gas available; Water available
• Home design: Single-family house; Two stories; Residential property
• Construction: Vinyl siding; Shingle roof
• Exterior features: Corner lot; Near golf course; Front yard fencing; Back yard fencing; Chain link fence; Shingle roof

Interior

• Kitchen: Range
• Flooring: Carpet; Wood
• Bathrooms: 3 full bathrooms
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Electric water heater; Range
• Laundry & utility: Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $205 ($2k/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 $138k (1.7% below list).
• Recommended offer: $132k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.0% 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: Tilles Elementary School (math 34% / reading 29%, grade F, #293 of 454 statewide, top 65%, 300 students, 92% FRL); William O. Darby Jr. High Sch. (math 20% / reading 30%, grade F, #164 of 201 statewide, top 82%, 700 students, 87% FRL); Northside High School (math 12% / reading 27%, grade F, #239 of 292 statewide, top 85%, 2,433 students, 74% FRL) — zoned schools average 84% FRL vs 64% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.4%/yr); 176 active listings in the ZIP; lower-income renter base — watch delinquency; 388 units permitted in Sebastian County in 2024 (16 in 5+ unit buildings).
• This rent runs 39% 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 $968 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

• It's been on market 88 days — a 6% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $35k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $131,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 88 days. Have you received any prior offers? Is the seller open to a 6% 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: 0.98% ✗
• Cap rate: 8.05%
• Cash-on-cash: 6.27%
• DSCR: 1.28
• GRM: 8.5

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: $-7,745
• Equity at exit: $20,874

10-year hold

• IRR: 5.9%
• Equity multiple: 1.46×
• Total profit: $18,048
• Equity at exit: $12,105

Cash invested: $39,200 (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: 176
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,377 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$90 /mo · $1,083/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $205

Break-even live

Break-even rent $1,117

Max offer price $140,000

Occupancy floor 80%

Sensitivity live

Price	-10% $284	-5% $245	+0% $205	+5% $165	+10% $126
Rent	-10% $96	-5% $151	+0% $205	+5% $259	+10% $314
Rate	-1.0pp $275	-0.5pp $240	base $205	+0.5pp $169	+1.0pp $132

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-21
   days on market $140,000 Active 88 DOM
2. 2026-06-19
   days on market $140,000 Active 86 DOM
3. 2026-06-18
   days on market $140,000 Active 85 DOM
4. 2026-06-17
   days on market $140,000 Active 84 DOM
5. 2026-06-16
   days on market $140,000 Active 83 DOM
6. 2026-06-15
   days on market $140,000 Active 82 DOM
7. 2026-06-14
   days on market $140,000 Active 80 DOM
8. 2026-06-13
   days on market $140,000 Active 79 DOM
9. 2026-06-10
   days on market $140,000 Active 77 DOM
10. 2026-06-09
    days on market $140,000 Active 76 DOM
11. 2026-06-08
    days on market $140,000 Active 75 DOM
12. 2026-06-07
    days on market $140,000 Active 74 DOM
13. 2026-06-03
    days on market $140,000 Active 70 DOM
14. 2026-06-02
    days on market $140,000 Active 69 DOM
15. 2026-06-01
    days on market $140,000 Active 68 DOM
16. 2026-05-31
    days on market $140,000 Active 67 DOM
17. 2026-05-30
    days on market $140,000 Active 66 DOM
18. 2026-05-19
    price $140,000

    Show marketing remark (675 chars)

    Dual-Income Potential on One Lot! This unique property features two separate homes, offering incredible versatility for an investor or multi-generational living. Main House (4B/2B, ~1,400 sq. ft. ): Full of character with beautiful original hardwood floors and a charming loft bedroom upstairs. It needs just a bit of TLC to shine but is solid and ready for your finishing touches. Garage Apartment (2B/1B, ~1,000 sq. ft. ): Completely updated with fresh flooring throughout and ready for immediate occupancy. Both residences are individually fenced, providing privacy for tenants or pets. Sold AS-IS, this is a turn-key opportunity. * * * Also listed as Residental 1087713

19. 2026-05-19
    price $140,000 675-char remark

    Show marketing remark (675 chars)

    Dual-Income Potential on One Lot! This unique property features two separate homes, offering incredible versatility for an investor or multi-generational living. Main House (4B/2B, ~1,400 sq. ft. ): Full of character with beautiful original hardwood floors and a charming loft bedroom upstairs. It needs just a bit of TLC to shine but is solid and ready for your finishing touches. Garage Apartment (2B/1B, ~1,000 sq. ft. ): Completely updated with fresh flooring throughout and ready for immediate occupancy. Both residences are individually fenced, providing privacy for tenants or pets. Sold AS-IS, this is a turn-key opportunity. * * * Also listed as Residental 1087713

20. 2026-05-05
    price $150,000 675-char remark

    Show marketing remark (675 chars)

    Dual-Income Potential on One Lot! This unique property features two separate homes, offering incredible versatility for an investor or multi-generational living. Main House (4B/2B, ~1,400 sq. ft. ): Full of character with beautiful original hardwood floors and a charming loft bedroom upstairs. It needs just a bit of TLC to shine but is solid and ready for your finishing touches. Garage Apartment (2B/1B, ~1,000 sq. ft. ): Completely updated with fresh flooring throughout and ready for immediate occupancy. Both residences are individually fenced, providing privacy for tenants or pets. Sold AS-IS, this is a turn-key opportunity. * * * Also listed as Residental 1087713

21. 2026-05-05
    price $150,000

    Show marketing remark (675 chars)

    Dual-Income Potential on One Lot! This unique property features two separate homes, offering incredible versatility for an investor or multi-generational living. Main House (4B/2B, ~1,400 sq. ft. ): Full of character with beautiful original hardwood floors and a charming loft bedroom upstairs. It needs just a bit of TLC to shine but is solid and ready for your finishing touches. Garage Apartment (2B/1B, ~1,000 sq. ft. ): Completely updated with fresh flooring throughout and ready for immediate occupancy. Both residences are individually fenced, providing privacy for tenants or pets. Sold AS-IS, this is a turn-key opportunity. * * * Also listed as Residental 1087713

22. 2026-04-21
    price $155,000

    Show marketing remark (675 chars)

    Dual-Income Potential on One Lot! This unique property features two separate homes, offering incredible versatility for an investor or multi-generational living. Main House (4B/2B, ~1,400 sq. ft. ): Full of character with beautiful original hardwood floors and a charming loft bedroom upstairs. It needs just a bit of TLC to shine but is solid and ready for your finishing touches. Garage Apartment (2B/1B, ~1,000 sq. ft. ): Completely updated with fresh flooring throughout and ready for immediate occupancy. Both residences are individually fenced, providing privacy for tenants or pets. Sold AS-IS, this is a turn-key opportunity. * * * Also listed as Residental 1087713

23. 2026-04-21
    price $155,000 675-char remark

    Show marketing remark (675 chars)

    Dual-Income Potential on One Lot! This unique property features two separate homes, offering incredible versatility for an investor or multi-generational living. Main House (4B/2B, ~1,400 sq. ft. ): Full of character with beautiful original hardwood floors and a charming loft bedroom upstairs. It needs just a bit of TLC to shine but is solid and ready for your finishing touches. Garage Apartment (2B/1B, ~1,000 sq. ft. ): Completely updated with fresh flooring throughout and ready for immediate occupancy. Both residences are individually fenced, providing privacy for tenants or pets. Sold AS-IS, this is a turn-key opportunity. * * * Also listed as Residental 1087713

24. 2026-04-13
    price $165,000

    Show marketing remark (675 chars)

    Dual-Income Potential on One Lot! This unique property features two separate homes, offering incredible versatility for an investor or multi-generational living. Main House (4B/2B, ~1,400 sq. ft. ): Full of character with beautiful original hardwood floors and a charming loft bedroom upstairs. It needs just a bit of TLC to shine but is solid and ready for your finishing touches. Garage Apartment (2B/1B, ~1,000 sq. ft. ): Completely updated with fresh flooring throughout and ready for immediate occupancy. Both residences are individually fenced, providing privacy for tenants or pets. Sold AS-IS, this is a turn-key opportunity. * * * Also listed as Residental 1087713

25. 2026-04-13
    price $165,000 675-char remark

    Show marketing remark (675 chars)

    Dual-Income Potential on One Lot! This unique property features two separate homes, offering incredible versatility for an investor or multi-generational living. Main House (4B/2B, ~1,400 sq. ft. ): Full of character with beautiful original hardwood floors and a charming loft bedroom upstairs. It needs just a bit of TLC to shine but is solid and ready for your finishing touches. Garage Apartment (2B/1B, ~1,000 sq. ft. ): Completely updated with fresh flooring throughout and ready for immediate occupancy. Both residences are individually fenced, providing privacy for tenants or pets. Sold AS-IS, this is a turn-key opportunity. * * * Also listed as Residental 1087713

26. 2026-04-02
    listed $175,000 Active 675-char remark

    Show marketing remark (675 chars)

    Dual-Income Potential on One Lot! This unique property features two separate homes, offering incredible versatility for an investor or multi-generational living. Main House (4B/2B, ~1,400 sq. ft. ): Full of character with beautiful original hardwood floors and a charming loft bedroom upstairs. It needs just a bit of TLC to shine but is solid and ready for your finishing touches. Garage Apartment (2B/1B, ~1,000 sq. ft. ): Completely updated with fresh flooring throughout and ready for immediate occupancy. Both residences are individually fenced, providing privacy for tenants or pets. Sold AS-IS, this is a turn-key opportunity. * * * Also listed as Residental 1087713

27. 2026-03-18
    listed $175,000 Active

ⓘ 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: $1,083 · $90/mo
• Projected year-2 tax: $1,083 · $90/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 1/10 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: $16,521
• − Mortgage interest: −$7,842
• − Property taxes: −$1,083
• − Insurance: −$700
• − Repairs & maintenance: −$1,322
• − Management: −$1,322
• − Depreciation: −$4,073
• Taxable income: $180
• Est. tax owed @ 24.0%: −$43
• After-tax cash flow: $2,415/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

-20.0% since first listed

10 events — show timeline

• 2026-05-19 Price Changed $140,000 WRVBOR
• 2026-05-19 Price Changed $140,000 WRVBOR
• 2026-05-05 Price Changed $150,000 WRVBOR
• 2026-05-05 Price Changed $150,000 WRVBOR
• 2026-04-21 Price Changed $155,000 WRVBOR
• 2026-04-21 Price Changed $155,000 WRVBOR
• 2026-04-13 Price Changed $165,000 WRVBOR
• 2026-04-13 Price Changed $165,000 WRVBOR
• 2026-04-02 Listed $175,000 WRVBOR
• 2026-03-18 Listed $175,000 WRVBOR

Property tax history

+3.4%/yr

Latest (2025): $1,083 · +8.9% YoY. Source: county tax records.