2201 S L St · Fort Smith, AR 72901

$89,000

2 bd · 1.0 ba · 1,176 sqft · SingleFamily public records · 15 Days on market

Built 1950 6,970 sqft lot Est $127k · 30% under

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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 +23.8/30.0
• ARV discount +15.0/15.0
• DSCR +7.7/10.0
• 1% rule +5.0/10.0
• 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

Charming investment opportunity in the heart of Fort Smith. This 2-bedroom, 1-bathroom home at 2201 S L St. offers solid potential for anyone seeking a renovation project or an addition to their rental portfolio. The layout includes a living room, dining room, laundry room, and a dedicated pantry, providing a functional foundation ready to be reimagined. A detached garage adds extra storage or workshop flexibility. The property needs work, but with vision and updates, it can become a rewarding project for investors or DIY-minded buyers. Property is sold "AS IS, WHERE IS, WITH ALL FAULTS BASIS" and will unlikely qualify for FHA and VA type loans.

Key facts

• Dedicated pantry
• Detached garage
• 6,970 sq ft lot

Tags

• DETACHED GARAGE
• DEDICATED PANTRY

Property features AI

Exterior

• Parking: Detached garage; Concrete parking; 1 covered parking space
• Utilities: Public water; Public sewer; Electricity available; Natural gas available
• Home design: Single-family house; One story
• Construction: Brick and frame construction; Block foundation; Fiberglass and shingle roof
• Exterior features: Covered porch; Partial fencing; Outbuilding; Paved road access; Cleared, level corner city lot

Interior

• Kitchen: Range; Dishwasher; Refrigerator
• Flooring: Laminate; Simulated wood; Vinyl; Wood
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Built-in features; Ceiling fans; Pantry; Walk-in closet(s); Drapes; Living room fireplace
• Laundry & utility: Washer hookup; Electric dryer hookup; Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $171 ($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 $89k (0.2% below list).
• Recommended offer: $88k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.6% 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: Ballman Elementary School (math 37% / reading 42%, grade F, #206 of 454 statewide, top 48%, 344 students, 70% 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).
• Market conditions: Rents rising fast (+4.4%/yr); 174 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 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 $615 of loan paydown is wiped out by about $3k 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 15 days — a 2% lower offer ($88k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• 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 $87,665 (1.5% below list)

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 8.60%
• Cash-on-cash: 8.23%
• DSCR: 1.37
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $127,008
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2203 S M St	0.07mi	2/1.0	1,208 (+3%)	2mo	$156,400	$129	91
1018 S 25th St	0.22mi	2/1.0	1,057 (-10%)	2mo	$105,000	$99	71
1504 Lexington Ave	0.56mi	2/1.0	1,176 (0%)	4mo	$65,000	$55	71
2116 S P St	0.30mi	2/1.0	1,088 (-8%)	4mo	$150,000	$138	70
2100 S N St	0.18mi	2/2.0	1,318 (+12%)	6mo	$169,900	$129	62
2015 S Q St	0.37mi	3/1.0 (+1)	1,066 (-9%)	2mo	$115,000	$108	61
1600 S 28th St	0.44mi	3/2.0 (+1)	1,248 (+6%)	2mo	$67,100	$54	58
606 S 18th St	0.53mi	2/1.5	1,298 (+10%)	3mo	$40,000	$31	54
1615 R St	0.56mi	2/1.0	1,004 (-15%)	1mo	$99,900	$100	48
1911 S 12th St	0.74mi	2/1.0	1,314 (+12%)	3mo	$71,000	$54	44
218 N 21st St	0.59mi	3/1.5 (+1)	1,311 (+12%)	7mo	$175,000	$133	40
3016 S Q St	0.66mi	3/1.0 (+1)	1,028 (-13%)	4mo	$134,000	$130	40

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 · 4.37% rent growth · sell at horizon

5-year hold

• IRR: -2.5%
• Equity multiple: 0.91×
• Total profit: $-2,340
• Equity at exit: $13,270

10-year hold

• IRR: 8.5%
• Equity multiple: 1.68×
• Total profit: $17,053
• Equity at exit: $7,695

Cash invested: $24,920 (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 72901

• Rents YoY: 4.4%
• Active inventory: 174
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $888 high
• Mortgage (P&I): −$467
• Tax from tax record: −$27 /mo · $326/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$187
• Net cashflow: $171

Break-even live

Break-even rent $672

Max offer price $89,000

Occupancy floor 76%

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2500 Dodson Ave Unit 1 Fort Smith, AR	2.0	1.0	700	$695	$0.99	13d	1	0.20mi
2322 S I St Fort Smith, AR	1.0–2.0	1.0	755	$895	$1.19	12d	2	0.22mi
1907 S N St Fort Smith, AR	2.0	1.0	1114	$950	$0.85	21d	1	0.27mi
1307 S 17th St Fort Smith, AR	3.0	1.5	1161	$1,150	$0.99	21d	1	0.35mi
802 S 25th St Fort Smith, AR	1.0	1.0	716	$745	$1.04	12d	2	0.36mi
800 S 19th St Fort Smith, AR	2.0	1.0	1286	$1,095	$0.85	3d	1	0.42mi
1700 S 28th St Unit 1 Fort Smith, AR	2.0	1.0	850	$795	$0.94	13d	1	0.46mi
2820 S O St Fort Smith, AR	2.0	1.5	1024	$875	$0.85	21d	1	0.48mi
1915 S U St Unit A Fort Smith, AR	2.0	2.0	900	$975	$1.08	21d	1	0.60mi
2301 S V St Unit 7 Fort Smith, AR	2.0	1.0	795	$550	$0.69	21d	1	0.64mi
2307 S 23rd St Fort Smith, AR	3.0	2.5	1356	$1,595	$1.18	21d	1	0.68mi
3014 Presley St Fort Smith, AR	1.0–2.0	1.0–1.5	782	$925	$1.18	13d	4	0.68mi
3014 Presley St Unit FB44 Fort Smith, AR	2.0	1.5	1040	$925	$0.89	21d	1	0.69mi
2200 S 17th St Unit D Fort Smith, AR	3.0	2.0	1123	$975	$0.87	21d	1	0.70mi
601 S 14th St Unit 8 Fort Smith, AR	1.0	1.0	700	$495	$0.71	21d	1	0.72mi
501 N May Ave Fort Smith, AR	2.0	1.0	1022	$825	$0.81	21d	1	0.73mi
3500 S N St Fort Smith, AR	1.0–2.0	1.0–1.5	834	$935	$1.12	21d	1	0.87mi
1805 S Y St Unit 18 Fort Smith, AR	1.0	1.0	700	$695	$0.99	13d	1	0.87mi
2800 Wharton Cir Unit 2323 Fort Smith, AR	2.0	2.0	1240	$925	$0.75	13d	1	0.88mi
1805 S Y St Unit 17 Fort Smith, AR	1.0	1.0	700	$695	$0.99	21d	1	0.88mi
3605 Barry Ave Fort Smith, AR	2.0	1.0	562	$845	$1.50	21d	3	1.01mi
2905 Alabama Ave Fort Smith, AR	1.0	1.0	711	$795	$1.12	3d	1	1.04mi
3906 S N St Unit 3904 Fort Smith, AR	2.0	1.5	1024	$800	$0.78	21d	1	1.11mi
3600 Kinkead Ave Fort Smith, AR	1.0–2.0	1.0	797	$1,490	$1.87	13d	15	1.11mi
1218 D St N Unit 1218 Fort Smith, AR	1.0	1.0	726	$550	$0.76	21d	1	1.12mi
101 N 11th St Unit 112 Fort Smith, AR	2.0	2.0	1040	$1,240	$1.19	21d	1	1.18mi
101 N 11th St Fort Smith, AR	1.0–2.0	1.0–2.0	806	$1,115	$1.38	3d	9	1.20mi
1117 N 32nd St Fort Smith, AR	2.0	1.0	744	$850	$1.14	13d	1	1.29mi
2921 Old Greenwood Rd Fort Smith, AR	1.0	1.0	750	$850	$1.13	21d	1	1.36mi
1607 Fresno St Unit 64 Fort Smith, AR	1.0	1.0	700	$625	$0.89	21d	1	1.38mi
1624 Fresno St Fort Smith, AR	1.0–2.0	1.0	785	$895	$1.14	13d	3	1.47mi

Listing history 12 events

1. 2026-06-19
   days on market $89,000 Active 15 DOM
2. 2026-06-18
   days on market $89,000 Active 14 DOM
3. 2026-06-17
   days on market $89,000 Active 13 DOM
4. 2026-06-16
   days on market $89,000 Active 12 DOM
5. 2026-06-15
   days on market $89,000 Active 11 DOM
6. 2026-06-14
   days on market $89,000 Active 9 DOM
7. 2026-06-13
   days on market $89,000 Active 8 DOM
8. 2026-06-10
   days on market $89,000 Active 6 DOM
9. 2026-06-09
   days on market $89,000 Active 5 DOM
10. 2026-06-08
    days on market $89,000 Active 4 DOM
11. 2026-06-07
    remarks 653-char remark
12. 2026-06-07
    listed $89,000 Active 3 DOM

ⓘ 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: $326 · $27/mo
• Projected year-2 tax: $570 · $47/mo
• Expected delta: +$244/yr (+$20/mo · 74.9%)

ⓘ 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 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: $10,660
• − Mortgage interest: −$4,985
• − Property taxes: −$326
• − Insurance: −$445
• − Repairs & maintenance: −$853
• − Management: −$853
• − Depreciation: −$2,589
• Taxable income: $609
• Est. tax owed @ 24.0%: −$146
• After-tax cash flow: $1,904/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

1 event — show timeline

• 2026-06-03 Listed $89,000 WRVBOR

Property tax history

-5.7%/yr

Latest (2025): $326 · -16.5% YoY. Source: county tax records.