1505 Seventh · Hot Springs, AR 71913

$199,000

4 bd · 0.0 ba · 2,688 sqft · MultiFamily · 77 Days on market

Built 1930 Good condition 0.46 ac lot $74/sqft · 21% above area Est $164k · 21% over

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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 +27.0/30.0
• DSCR +9.4/10.0
• 1% rule +7.3/10.0
• Rent growth +4.1/5.0
• Condition / age +3.8/5.0
• Livability +3.2/5.0
• Schools +2.0/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 2 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

City duplex just a few blocks from Oaklawn Race Track. Easy rental income. Both sides have yards and off street parking. Pictures are of 1505 7th St. 429 Henderson St is currently occupied. Lot to the right of 1505 conveys.

Key facts

• Off street parking
• Duplex
• 0.46 acre lot

Tags

• DUPLEX
• OFF STREET PARKING

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/?-bath units multifamily listed at $199k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $560 ($7k/yr) — positive. Per door: $280/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $199k).
• Recommended offer: $187k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.7% vs local median 2.8% in Hot Springs — 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 (#140 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.
• Hot Springs School District (urban): math 24% / reading 25% proficiency, ranked #195 of 238 in AR (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+6.4%/yr); 986 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 117 units permitted in Garland County in 2024 (24 in 5+ unit buildings).
• At $2,450/mo this rent would consume 52% of the median local household income ($56k/yr) (locally 1442% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Garland County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 6.4% rent growth), your $56k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $66k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $187,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.23% ✓
• Cap rate: 9.67%
• Cash-on-cash: 12.07%
• DSCR: 1.54
• GRM: 6.8

CMA / ARV

• ARV (median comp): $164,211
• List price: $199,000
• Delta: 21.19%
• Verdict: OVERPRICED
• Comps: 12 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
939 Greenwood Ave	0.66mi	5/— (+1)	2,490 (-7%)	10mo	$220,000	$88	44
125 Pinewood	0.75mi	4/—	2,550 (-5%)	23mo	$220,000	$86	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 · 6.43% rent growth · sell at horizon

5-year hold

• IRR: 5.4%
• Equity multiple: 1.22×
• Total profit: $12,219
• Equity at exit: $29,672

10-year hold

• IRR: 17.8%
• Equity multiple: 2.71×
• Total profit: $95,252
• Equity at exit: $17,206

Cash invested: $55,720 (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 71913

• Home prices YoY: -33.9%
• Rents YoY: 6.4%
• Active inventory: 986
• Price-to-rent: 13.5×

Monthly cashflow live

• Estimated rent: $2,450 high
• Mortgage (P&I): −$1,044
• Tax est. 1.5%: −$249 /mo · $2,985/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$514
• Net cashflow: $560

Break-even live

Break-even rent $1,741

Max offer price $199,000

Occupancy floor 72%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	—	$2,450
Total (2 units)			$2,450

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
302 Panama St Unit 1 Hot Springs, AR	5.0	2.0	2400	$2,300	$0.96	43d	1	0.59mi

Listing history 24 events

1. 2026-06-19
   days on market $199,000 Active 77 DOM
2. 2026-06-18
   days on market $199,000 Active 76 DOM
3. 2026-06-17
   days on market $199,000 Active 75 DOM
4. 2026-06-16
   days on market $199,000 Active 74 DOM
5. 2026-06-15
   days on market $199,000 Active 73 DOM
6. 2026-06-14
   days on market $199,000 Active 71 DOM
7. 2026-06-13
   days on market $199,000 Active 70 DOM
8. 2026-06-10
   days on market $199,000 Active 68 DOM
9. 2026-06-09
   days on market $199,000 Active 67 DOM
10. 2026-06-08
    days on market $199,000 Active 66 DOM
11. 2026-06-07
    days on market $199,000 Active 65 DOM
12. 2026-06-05
    days on market $199,000 Active 62 DOM
13. 2026-06-02
    days on market $199,000 Active 60 DOM
14. 2026-06-01
    days on market $199,000 Active 59 DOM
15. 2026-05-31
    days on market $199,000 Active 58 DOM
16. 2026-05-30
    days on market $199,000 Active 57 DOM
17. 2026-04-28
    price $199,000 223-char remark

    Show marketing remark (223 chars)

    City duplex just a few blocks from Oaklawn Race Track. Easy rental income. Both sides have yards and off street parking. Pictures are of 1505 7th St. 429 Henderson St is currently occupied. Lot to the right of 1505 conveys.

18. 2026-04-27
    price $199,000 223-char remark

    Show marketing remark (223 chars)

    City duplex just a few blocks from Oaklawn Race Track. Easy rental income. Both sides have yards and off street parking. Pictures are of 1505 7th St. 429 Henderson St is currently occupied. Lot to the right of 1505 conveys.

19. 2026-04-11
    price $250,000 223-char remark

    Show marketing remark (223 chars)

    City duplex just a few blocks from Oaklawn Race Track. Easy rental income. Both sides have yards and off street parking. Pictures are of 1505 7th St. 429 Henderson St is currently occupied. Lot to the right of 1505 conveys.

20. 2026-04-11
    price $250,000 223-char remark

    Show marketing remark (223 chars)

    City duplex just a few blocks from Oaklawn Race Track. Easy rental income. Both sides have yards and off street parking. Pictures are of 1505 7th St. 429 Henderson St is currently occupied. Lot to the right of 1505 conveys.

21. 2026-04-03
    listed $265,000 New Listing 223-char remark

    Show marketing remark (223 chars)

    City duplex just a few blocks from Oaklawn Race Track. Easy rental income. Both sides have yards and off street parking. Pictures are of 1505 7th St. 429 Henderson St is currently occupied. Lot to the right of 1505 conveys.

22. 2026-04-03
    listed $265,000 Active 223-char remark

    Show marketing remark (223 chars)

    City duplex just a few blocks from Oaklawn Race Track. Easy rental income. Both sides have yards and off street parking. Pictures are of 1505 7th St. 429 Henderson St is currently occupied. Lot to the right of 1505 conveys.

23. 2024-04-13
    historical $1,325
24. 2024-03-01
    listed $1,325

ⓘ 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 6/10 Major 7 d/yr ≥111°F today · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 10% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,400
• − Mortgage interest: −$11,147
• − Property taxes: −$2,985
• − Insurance: −$995
• − Repairs & maintenance: −$2,352
• − Management: −$2,352
• − Depreciation: −$5,789
• Taxable income: $3,780
• Est. tax owed @ 24.0%: −$907
• After-tax cash flow: $5,816/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This multi-family property is in good condition with cosmetic updates needed. It has a good foundation and structure, and the interiors are well-maintained. The property has potential for further value increases with exterior painting, landscaping, and smart home upgrades.

Value-add opportunities

• Both Painting the exterior — Fresh paint can enhance curb appeal and property value.
• Both Landscaping improvements — A well-maintained yard can increase both resale and rental value.
• Resale Upgrading appliances — Modern appliances can attract more buyers and renters.
• Both Adding smart home features — Smart home features can increase both resale and rental value by making the property more attractive to potential buyers and renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior — Fresh paint can enhance curb appeal and property value. ↑
• Both Landscaping improvements — A well-maintained yard can increase both resale and rental value. ↑
• Resale Upgrading appliances — Modern appliances can attract more buyers and renters. ↑
• Both Adding smart home features — Smart home features can increase both resale and rental value by making the property more attractive to potential buyers and renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Hot Springs School District
• NCES district ID: 0507890
• Math proficiency: 24% ▼ -15.00%
• Reading proficiency: 25% ▼ -12.00%
• Median HH income: $28,817
• Composite: 19.62/100
• National rank: #8746
• State rank: #195 of 238 in AR

Livability — Hot Springs

• Score: 65/100
• State rank: #140
• US rank: #12498

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment D- Housing A+ Health & safety A- User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hot Springs, AR
• County: Garland County · 76,414 people
• City population: 76,414
• Metro: Hot Springs, AR
• Population (ZIP): 47,477
• Household income: $56,010
• Rent vs Own: 34.3% rent · 65.7% own
• Severe rent burden: 1442.0

Population outlook (Garland County) Hauer SSP2

• Today (2025): 100,343 people
• By 2030: 101,880 · +1.5%
• By 2040: 104,804 · +4.4%
• By 2050: 107,292 · +6.9%
• By 2075: 113,182 · +12.8%
• By 2100: 112,247 · +11.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Hispanic / Latino 8% Black 8% Two or more races 6% Asian 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 7% Other Indo-European 1%

Political lean MEDSL · Garland

• 2024 margin: Solid R (+36.2) · D 30.8% · R 67.0% · Other 2.2%
• 2008→2024 swing: -11.3pp toward R · 2008: -25.0pp · 2024: -36.2pp
• All cycles: 2024: R+36.2 2020: R+34.0 2016: R+34.1 2012: R+29.9 2008: R+25.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -137.67%
• Current HPI: 268.5228
• Rent YoY: ▲ 6.43%
• Metro: Hot Springs, AR
• 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

+14918.9% since first listed

8 events — show timeline

• 2026-04-28 Price Changed $199,000 CARMLS
• 2026-04-27 Price Changed $199,000 HSBOR
• 2026-04-11 Price Changed $250,000 CARMLS
• 2026-04-11 Price Changed $250,000 HSBOR
• 2026-04-03 Listed $265,000 HSBOR
• 2026-04-03 Listed $265,000 CARMLS
• 2024-04-13 Rental Removed $1,325 BUILDIUM
• 2024-03-01 Listed for Rent $1,325 BUILDIUM