600 Higdon Ferry Rd · Hot Springs, AR 71913

$164,000

2 bd · 2.0 ba · 1,160 sqft · Condo public records · 35 Days on market

Built 1975

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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).

• ARV discount +7.5/15.0
• Cash flow +6.6/30.0
• Rent growth +4.1/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• 1% rule +1.9/10.0
• DSCR +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

CHARMING 2 BEDROOM 2 BATH WALK-IN LEVEL CONDO, PERFECTLY LOCATED WITHIN WALKING DISTANCE TO OAKLAWN RACING CASINO RESORT! DISCOVER THIS SPACIOUS UNIT WITH EASY ACCESS, FEATURING A VERSATILE DEN IDEAL FOR A HOME OFFICE, LARGE KITCHEN WITH LOTS OF CABINETS AND STORAGE SPACE, UPDATED WALK-IN TILE SHOWER. THIS HOME OFFERS COMFORT AND CONVENIENCE, AND COVERED PARKING. RENTALS ALLOWED WITH A MINIMUM OF 6 MONTHS, PERFECT FOR YOUR ENJOYMENT FOR FULL TIME LIVING OR A WEEKEND GETAWAY. THIS MOVE-IN READY CONDO COMBINES STYLE, AN UNBEATABLE LOCATION, AND FURNISHED! MOTIVATED SELLER!!

Key facts

• Ground level
• Convenient location
• Quiet area

Tags

• CONVENIENT LOCATION
• QUIET AREA
• WALKING DISTANCE TO SHOPPING
• GROUND LEVEL
• SPACIOUS CONDO

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $164k.

Deal economics

• At list price, monthly cash flow is $-270 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $150k (8.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $113k (31.0% below list).
• Recommended offer: $113k (31.0% below list) — sets the bar for 1% rule.
• Cap rate 4.3% 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: crime F, amenities F, commute 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.
• Zoned schools: Hot Springs Junior Academy (math 20% / reading 29%, grade F, #166 of 201 statewide, top 84%, 815 students, 100% FRL, charter); Hot Springs World Class High School (math 12% / reading 24%, grade F, #252 of 292 statewide, top 87%, 739 students, 100% FRL, charter) — zoned schools average 100% FRL vs 72% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.4%/yr); 981 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 117 units permitted in Garland County in 2024 (24 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.
• Garland 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 35 days — a 3% lower offer ($159k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 10y ago; this cycle's ask is 17% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $103k; list at $164k implies a 59% gain — meaningful room to come down on a strong offer.

Recommended offer $113,215 (31.0% 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. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
3. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. 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?
10. 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.
11. 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.
12. 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: 0.69% ✗
• Cap rate: 4.32%
• Cash-on-cash: -7.05%
• DSCR: 0.69
• GRM: 12.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.43% rent growth · sell at horizon

5-year hold

• IRR: -24.7%
• Equity multiple: 0.14×
• Total profit: $-39,686
• Equity at exit: $24,453

10-year hold

• IRR: -12.5%
• Equity multiple: 0.16×
• Total profit: $-38,747
• Equity at exit: $14,180

Cash invested: $45,920 (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: 981
• Price-to-rent: 12.1×

Monthly cashflow live

• Estimated rent: $1,132 high
• Mortgage (P&I): −$860
• Tax from tax record: −$48 /mo · $575/yr
• Insurance: −$68
• HOA est. from 5 same-building comps: −$188
• Vacancy / Maint / Mgmt: −$238
• Net cashflow: $-270

Break-even live

Break-even rent $1,474

Max offer price $116,324

Occupancy floor —

Sensitivity live

Price	-10% $-177	-5% $-223	+0% $-270	+5% $-316	+10% $-363
Rent	-10% $-359	-5% $-315	+0% $-270	+5% $-225	+10% $-180
Rate	-1.0pp $-187	-0.5pp $-228	base $-270	+0.5pp $-312	+1.0pp $-356

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: $41,000
• Closing costs: $4,920
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
600 Higdon Ferry Rd #300 Hot Springs, AR	2.0	2.0	1388	$1,250	$0.90	45d	1	0.03mi
143 Alpine St Hot Springs National Park, AR	2.0	1.0	1000	$995	$0.99	45d	1	0.30mi
410 Oakwood Ave Hot Springs, AR	2.0–3.0	2.0	1000	$999	$1.00	45d	6	0.66mi
210 Carl Dr Unit B6 Hot Springs National Park, AR	2.0	2.0	1350	$1,350	$1.00	45d	1	0.71mi
104 Selma St Hot Springs National Park, AR	2.0	1.0	832	$950	$1.14	45d	1	1.23mi
109 Alcorn St Unit A Hot Springs, AR	2.0	1.0	850	$1,295	$1.52	46d	1	1.25mi
150 Sun St Hot Springs National Park, AR	3.0	1.0	1120	$1,150	$1.03	45d	1	1.33mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 29 events

1. 2026-06-16
   days on market $164,000 Active 35 DOM
2. 2026-06-15
   days on market $164,000 Active 34 DOM
3. 2026-06-14
   days on market $164,000 Active 32 DOM
4. 2026-06-13
   days on market $164,000 Active 31 DOM
5. 2026-06-10
   days on market $164,000 Active 29 DOM
6. 2026-06-09
   days on market $164,000 Active 28 DOM
7. 2026-06-08
   days on market $164,000 Active 27 DOM
8. 2026-06-07
   days on market $164,000 Active 26 DOM
9. 2026-06-05
   days on market $164,000 Active 23 DOM
10. 2026-06-02
    days on market $164,000 Active 21 DOM
11. 2026-06-01
    days on market $164,000 Active 20 DOM
12. 2026-05-31
    days on market $164,000 Active 19 DOM
13. 2026-05-30
    days on market $164,000 Active 18 DOM
14. 2026-05-12
    listed $164,000 Active 445-char remark
15. 2025-08-15
    soldstatus $103,000 Closed 578-char remark

    Show marketing remark (578 chars)

    CHARMING 2 BEDROOM 2 BATH WALK-IN LEVEL CONDO, PERFECTLY LOCATED WITHIN WALKING DISTANCE TO OAKLAWN RACING CASINO RESORT! DISCOVER THIS SPACIOUS UNIT WITH EASY ACCESS, FEATURING A VERSATILE DEN IDEAL FOR A HOME OFFICE, LARGE KITCHEN WITH LOTS OF CABINETS AND STORAGE SPACE, UPDATED WALK-IN TILE SHOWER. THIS HOME OFFERS COMFORT AND CONVENIENCE, AND COVERED PARKING. RENTALS ALLOWED WITH A MINIMUM OF 6 MONTHS, PERFECT FOR YOUR ENJOYMENT FOR FULL TIME LIVING OR A WEEKEND GETAWAY. THIS MOVE-IN READY CONDO COMBINES STYLE, AN UNBEATABLE LOCATION, AND FURNISHED! MOTIVATED SELLER!!

16. 2025-07-21
    historical Active Under Contract 578-char remark

    Show marketing remark (578 chars)

    CHARMING 2 BEDROOM 2 BATH WALK-IN LEVEL CONDO, PERFECTLY LOCATED WITHIN WALKING DISTANCE TO OAKLAWN RACING CASINO RESORT! DISCOVER THIS SPACIOUS UNIT WITH EASY ACCESS, FEATURING A VERSATILE DEN IDEAL FOR A HOME OFFICE, LARGE KITCHEN WITH LOTS OF CABINETS AND STORAGE SPACE, UPDATED WALK-IN TILE SHOWER. THIS HOME OFFERS COMFORT AND CONVENIENCE, AND COVERED PARKING. RENTALS ALLOWED WITH A MINIMUM OF 6 MONTHS, PERFECT FOR YOUR ENJOYMENT FOR FULL TIME LIVING OR A WEEKEND GETAWAY. THIS MOVE-IN READY CONDO COMBINES STYLE, AN UNBEATABLE LOCATION, AND FURNISHED! MOTIVATED SELLER!!

17. 2025-07-12
    price $110,000 578-char remark

    Show marketing remark (578 chars)

    CHARMING 2 BEDROOM 2 BATH WALK-IN LEVEL CONDO, PERFECTLY LOCATED WITHIN WALKING DISTANCE TO OAKLAWN RACING CASINO RESORT! DISCOVER THIS SPACIOUS UNIT WITH EASY ACCESS, FEATURING A VERSATILE DEN IDEAL FOR A HOME OFFICE, LARGE KITCHEN WITH LOTS OF CABINETS AND STORAGE SPACE, UPDATED WALK-IN TILE SHOWER. THIS HOME OFFERS COMFORT AND CONVENIENCE, AND COVERED PARKING. RENTALS ALLOWED WITH A MINIMUM OF 6 MONTHS, PERFECT FOR YOUR ENJOYMENT FOR FULL TIME LIVING OR A WEEKEND GETAWAY. THIS MOVE-IN READY CONDO COMBINES STYLE, AN UNBEATABLE LOCATION, AND FURNISHED! MOTIVATED SELLER!!

18. 2025-06-30
    price $119,900 578-char remark

    Show marketing remark (578 chars)

    CHARMING 2 BEDROOM 2 BATH WALK-IN LEVEL CONDO, PERFECTLY LOCATED WITHIN WALKING DISTANCE TO OAKLAWN RACING CASINO RESORT! DISCOVER THIS SPACIOUS UNIT WITH EASY ACCESS, FEATURING A VERSATILE DEN IDEAL FOR A HOME OFFICE, LARGE KITCHEN WITH LOTS OF CABINETS AND STORAGE SPACE, UPDATED WALK-IN TILE SHOWER. THIS HOME OFFERS COMFORT AND CONVENIENCE, AND COVERED PARKING. RENTALS ALLOWED WITH A MINIMUM OF 6 MONTHS, PERFECT FOR YOUR ENJOYMENT FOR FULL TIME LIVING OR A WEEKEND GETAWAY. THIS MOVE-IN READY CONDO COMBINES STYLE, AN UNBEATABLE LOCATION, AND FURNISHED! MOTIVATED SELLER!!

19. 2025-06-23
    price $129,900 578-char remark

    Show marketing remark (578 chars)

    CHARMING 2 BEDROOM 2 BATH WALK-IN LEVEL CONDO, PERFECTLY LOCATED WITHIN WALKING DISTANCE TO OAKLAWN RACING CASINO RESORT! DISCOVER THIS SPACIOUS UNIT WITH EASY ACCESS, FEATURING A VERSATILE DEN IDEAL FOR A HOME OFFICE, LARGE KITCHEN WITH LOTS OF CABINETS AND STORAGE SPACE, UPDATED WALK-IN TILE SHOWER. THIS HOME OFFERS COMFORT AND CONVENIENCE, AND COVERED PARKING. RENTALS ALLOWED WITH A MINIMUM OF 6 MONTHS, PERFECT FOR YOUR ENJOYMENT FOR FULL TIME LIVING OR A WEEKEND GETAWAY. THIS MOVE-IN READY CONDO COMBINES STYLE, AN UNBEATABLE LOCATION, AND FURNISHED! MOTIVATED SELLER!!

20. 2025-06-20
    listed $139,900 Active 578-char remark

    Show marketing remark (578 chars)

    CHARMING 2 BEDROOM 2 BATH WALK-IN LEVEL CONDO, PERFECTLY LOCATED WITHIN WALKING DISTANCE TO OAKLAWN RACING CASINO RESORT! DISCOVER THIS SPACIOUS UNIT WITH EASY ACCESS, FEATURING A VERSATILE DEN IDEAL FOR A HOME OFFICE, LARGE KITCHEN WITH LOTS OF CABINETS AND STORAGE SPACE, UPDATED WALK-IN TILE SHOWER. THIS HOME OFFERS COMFORT AND CONVENIENCE, AND COVERED PARKING. RENTALS ALLOWED WITH A MINIMUM OF 6 MONTHS, PERFECT FOR YOUR ENJOYMENT FOR FULL TIME LIVING OR A WEEKEND GETAWAY. THIS MOVE-IN READY CONDO COMBINES STYLE, AN UNBEATABLE LOCATION, AND FURNISHED! MOTIVATED SELLER!!

21. 2022-08-12
    historical
22. 2022-08-11
    listed $99,000 New Listing
23. 2022-08-07
    historical
24. 2022-07-28
    listed $109,999 New Listing
25. 2013-12-27
    soldstatus $50,000
26. 2012-09-20
    soldstatus $50,000
27. 2003-10-27
    soldstatus $62,000
28. 1998-06-05
    soldstatus $55,000
29. 1996-05-14
    soldstatus $53,000

ⓘ 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: $575 · $48/mo
• Projected year-2 tax: $1,050 · $87/mo
• Expected delta: +$475/yr (+$40/mo · 82.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $13,586
• − Mortgage interest: −$9,187
• − Property taxes: −$575
• − Insurance: −$820
• − Repairs & maintenance: −$1,087
• − Management: −$1,087
• − HOA: −$2,256
• − Depreciation: −$4,771
• Taxable loss: −$6,196
• Est. tax savings @ 24.0%: +$1,487
• After-tax cash flow: $-1,751/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: 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

+94.3% since first listed

17 events — show timeline

• 2025-08-15 Sold (MLS) $103,000 HSBOR
• 2025-07-21 Contingent — HSBOR
• 2025-07-12 Price Changed $110,000 HSBOR
• 2025-06-30 Price Changed $119,900 HSBOR
• 2025-06-23 Price Changed $129,900 HSBOR
• 2025-06-20 Listed $139,900 HSBOR
• 2022-08-12 Listing Removed — CARMLS
• 2022-08-11 Listed $99,000 CARMLS
• 2022-08-07 Listing Removed — CARMLS
• 2022-07-28 Listed $109,999 CARMLS
• 2016-05-24 Sold (MLS) $52,000 CARMLS
• 2016-03-28 Listed $59,900 CARMLS
• 2013-12-27 Sold (Public Records) $50,000 Public Records
• 2012-09-20 Sold (Public Records) $50,000 Public Records
• 2003-10-27 Sold (Public Records) $62,000 Public Records
• 1998-06-05 Sold (Public Records) $55,000 Public Records
• 1996-05-14 Sold (Public Records) $53,000 Public Records

Property tax history

+1.2%/yr

Latest (2025): $575 · +3.0% YoY. Source: county tax records.