1502 N Springfield St · Berryville, AR 72616

$339,900

5 bd · 3.0 ba · 3,080 sqft · SingleFamily public records · 217 Days on market

Built 1979 1.53 ac lot $110/sqft · 27% below area Est $463k · 27% under

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Why this score? — see what drove the D 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 +15.0/15.0
• Appreciation +10.0/10.0
• Cash flow +4.6/30.0
• Livability +3.4/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Set on 1.53 acres just minutes from downtown Berryville, this home offers the rare mix of elbow room and convenience. The property feels tucked away, with a wide, open backyard that gives you that peaceful-country vibe without leaving town. Inside, the main level features a large living room, spacious kitchen for entertaining, formal dining space, 4 bedrooms and 2 bathrooms, all filled with natural light. Downstairs, the fully finished basement becomes its own separate living space—complete with a bedroom and bonus room for additional living space, a full bath, and its own kitchen—perfect for a mother-in-law suite, long-term rental, or private guest retreat thanks to its separate entrance. Step outside to an expansive covered deck overlooking the yard with a big 30x30 workshop with a concrete floor is ready for projects, storage, or future ideas. There’s even an above-ground pool to enjoy on warm days. This property offers space, flexibility, and endless possibilities—all close to town.

Key facts

• Separate entrance
• Wide open backyard
• 30x30 workshop

Tags

• 1.53 ACRES
• WIDE OPEN BACKYARD
• FULLY FINISHED BASEMENT
• SEPARATE ENTRANCE
• EXPANSIVE COVERED DECK
• 30X30 WORKSHOP

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath single-family listed at $340k.

Deal economics

• At list price, monthly cash flow is $-863 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $187k (44.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $150k (55.9% below list).
• Recommended offer: $150k (55.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 67/100 on livability (#103 in AR) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: crime C-, schools D+, amenities F.
• Berryville School District (town): math 31% / reading 31% proficiency, ranked #148 of 238 in AR (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 117 active listings in the ZIP; 30 units permitted in Carroll County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $36k of equity ($2k loan paydown + $34k appreciation (10.0% local appreciation)).
• Carroll County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$58k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 217 days — a 12% lower offer ($299k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $125k; list at $340k implies a 172% gain — meaningful room to come down on a strong offer.

Recommended offer $150,062 (55.9% 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 217 days. Have you received any prior offers? Is the seller open to a 56% concession, seller financing, or rate buy-down credit?
3. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.44% ✗
• Cap rate: 3.25%
• Cash-on-cash: -10.88%
• DSCR: 0.52
• GRM: 18.9

CMA / ARV

• ARV (median comp): $463,068
• List price: $339,900
• Delta: -26.60%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.6%
• Equity multiple: 2.37×
• Total profit: $129,984
• Equity at exit: $306,209

10-year hold

• IRR: 15.9%
• Equity multiple: 5.47×
• Total profit: $425,690
• Equity at exit: $660,351

Cash invested: $95,172 (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 72616

• Home prices YoY: 15.2%
• Active inventory: 117
• Price-to-rent: 18.9×

Monthly cashflow live

• Estimated rent: $1,501 medium
• Mortgage (P&I): −$1,782
• Tax from tax record: −$125 /mo · $1,494/yr
• Insurance: −$142
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $-863

Break-even live

Break-even rent $2,593

Max offer price $187,427

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: $84,975
• Closing costs: $10,197
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $339,900 Active 217 DOM
2. 2026-06-18
   days on market $339,900 Active 216 DOM
3. 2026-06-17
   days on market $339,900 Active 215 DOM
4. 2026-06-16
   days on market $339,900 Active 214 DOM
5. 2026-06-15
   days on market $339,900 Active 213 DOM
6. 2026-06-14
   days on market $339,900 Active 211 DOM
7. 2026-06-12
   days on market $339,900 Active 210 DOM
8. 2026-06-09
   days on market $339,900 Active 207 DOM
9. 2026-06-08
   days on market $339,900 Active 206 DOM
10. 2026-06-07
    days on market $339,900 Active 205 DOM
11. 2026-06-04
    days on market $339,900 Active 201 DOM
12. 2026-06-02
    days on market $339,900 Active 200 DOM
13. 2026-06-01
    days on market $339,900 Active 199 DOM
14. 2026-05-31
    days on market $339,900 Active 198 DOM
15. 2026-05-31
    days on market $339,900 Active 197 DOM
16. 2026-05-06
    price $339,900 1025-char remark

    Show marketing remark (1025 chars)

    Set on 1.53 acres just minutes from downtown Berryville, this home offers the rare mix of elbow room and convenience. The property feels tucked away, with a wide, open backyard that gives you that peaceful-country vibe without leaving town. Inside, the main level features a large living room, spacious kitchen for entertaining, formal dining space, 4 bedrooms and 2 bathrooms, all filled with natural light. Downstairs, the fully finished basement becomes its own separate living space—complete with a bedroom and bonus room for additional living space, a full bath, and its own kitchen—perfect for a mother-in-law suite, long-term rental, or private guest retreat thanks to its separate entrance. Step outside to an expansive covered deck overlooking the yard with a big 30x30 workshop with a concrete floor is ready for projects, storage, or future ideas. There’s even an above-ground pool to enjoy on warm days. This property offers space, flexibility, and endless possibilities—all close to town.

17. 2025-11-13
    listed $349,900 Active 1025-char remark

    Show marketing remark (1025 chars)

    Set on 1.53 acres just minutes from downtown Berryville, this home offers the rare mix of elbow room and convenience. The property feels tucked away, with a wide, open backyard that gives you that peaceful-country vibe without leaving town. Inside, the main level features a large living room, spacious kitchen for entertaining, formal dining space, 4 bedrooms and 2 bathrooms, all filled with natural light. Downstairs, the fully finished basement becomes its own separate living space—complete with a bedroom and bonus room for additional living space, a full bath, and its own kitchen—perfect for a mother-in-law suite, long-term rental, or private guest retreat thanks to its separate entrance. Step outside to an expansive covered deck overlooking the yard with a big 30x30 workshop with a concrete floor is ready for projects, storage, or future ideas. There’s even an above-ground pool to enjoy on warm days. This property offers space, flexibility, and endless possibilities—all close to town.

18. 2025-08-14
    price $359,900
19. 2024-07-03
    price $384,500
20. 2005-04-01
    soldstatus $125,000

ⓘ 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: $1,494 · $125/mo
• Projected year-2 tax: $2,175 · $181/mo
• Expected delta: +$681/yr (+$57/mo · 45.6%)

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

Taxation est. · year 1

• Rental income: $18,007
• − Mortgage interest: −$19,040
• − Property taxes: −$1,494
• − Insurance: −$1,700
• − Repairs & maintenance: −$1,441
• − Management: −$1,441
• − Depreciation: −$9,888
• Taxable loss: −$16,995
• Est. tax savings @ 24.0%: +$4,079
• After-tax cash flow: $-6,279/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: Berryville School District
• NCES district ID: 0503150
• Math proficiency: 31% ▼ -12.00%
• Reading proficiency: 31% ▼ -11.00%
• Median HH income: $37,169
• Composite: 25.81/100
• National rank: #7360
• State rank: #148 of 238 in AR

Livability — Berryville

• Score: 67/100
• State rank: #103
• US rank: #10632

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Berryville, AR
• Population (ZIP): 11,046

Population outlook (Carroll County) Hauer SSP2

• Today (2025): 28,014 people
• By 2030: 28,006 · +-0.0%
• By 2040: 28,242 · +0.8%
• By 2050: 29,169 · +4.1%
• By 2075: 33,935 · +21.1%
• By 2100: 39,497 · +41.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (65%)
• Race & ethnicity: White 65% Two or more races 27% Hispanic / Latino 18% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Slovak 1% Italian 1% Scottish 1%
• Foreign-born: 10% · Canada
• Languages at home: 83% English-only · Spanish 11% German/W. Germanic 3% Other Asian/Pacific 2%

Political lean MEDSL · Carroll

• 2024 margin: Solid R (+31.7) · D 33.0% · R 64.7% · Other 2.2%
• 2008→2024 swing: -13.6pp toward R · 2008: -18.1pp · 2024: -31.7pp
• All cycles: 2024: R+31.7 2020: R+28.8 2016: R+32.3 2012: R+23.9 2008: R+18.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 40.46%
• Current HPI: 306.898
• Rent YoY: —
• Metro: —
• 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

+171.9% since first listed

5 events — show timeline

• 2026-05-06 Price Changed $339,900 NWARMLS
• 2025-11-13 Listed $349,900 NWARMLS
• 2025-08-14 Price Changed $359,900 NWARMLS
• 2024-07-03 Price Changed $384,500 NWARMLS
• 2005-04-01 Sold (Public Records) $125,000 Public Records

Property tax history

+6.8%/yr

Latest (2025): $1,494 · -0.0% YoY. Source: county tax records.