7800, 7801, 7916, 8000 Thayer Dr · Fort Smith, AR 72908

$1

None bd · 4.0 ba · 2,160 sqft · SingleFamily public records · 29 Days on market

0.31 ac lot ↓ 5% since listing

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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 +3.5/30.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Auction 05/20/2026 at 11:00 AM Thayer Multi-Family Portfolio – 16 Total Units Investment opportunity featuring 16 units across 4 separate properties, all selling individually. All units are 1 bedroom, 1 bathroom, offering a consistent and easy-to-manage layout across the portfolio. 7801 Thayer & 1200 School St. – Tri-plex plus single-family home (one unit currently vacant, remainder occupied) 7800 Thayer – 4-plex 7916 Thayer – 4-plex 8000 Thayer – 4-plex Average rents are approximately $500/month. One unit in the tri-plex is currently vacant, with the remaining units occupied. Strong rental history with upside potential through increased rents and

Key facts

• 0.31 acre lot
• Listed 29 days

Property features AI

Exterior

• Parking: Gravel parking; Assigned parking; On-street parking
• Security: Smoke detector(s)
• Utilities: Public maintained road (access); Gas water heater (on-site)
• Home design: Residential quadruplex; Single level (1 story)
• Construction: Brick and frame construction; Shingle roof
• Exterior features: Cleared, city lot; Paved public road access

Interior

• Flooring: Laminate or simulated wood flooring
• Heating & cooling: Electric heating; Window air conditioning units
• Interior features: Gas water heater; Smoke detector(s)
• Laundry & utility: No laundry in-unit

🔨 Auction listing. The $1 list price is a nominal opening bid, not a real ask — every metric below is computed on the estimated value $254,880 (ARV from comps), not the list price.

What this means for you Summary

Snapshot

• This is a ?-bed/4.0-bath single-family listed at $1.

Deal economics

• At list price, monthly cash flow is $-768 ($-9k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $1).
• Cap rate 2.7% vs local median 4.3% in Fort Smith — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: Cavanaugh Elementary School (math 57% / reading 52%, grade C, #60 of 454 statewide, top 15%, 310 students, 66% FRL); Ramsey Junior High School (math 37% / reading 47%, grade D-, #78 of 201 statewide, top 40%, 832 students, 67% FRL); Southside High School (math 36% / reading 53%, grade F, #31 of 292 statewide, top 12%, 1,956 students, 47% FRL) — zoned schools at 60% FRL track the district average.
• Market conditions: 97 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $2k of loan paydown is wiped out by about $8k 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 29 days — a 2% lower offer ($0) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 382320.0% of price.
• 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 $1

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. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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?
7. 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.
8. 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.
9. 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: 0.49% ✗
• Cap rate: 2.68%
• Cash-on-cash: -12.92%
• DSCR: 0.43
• GRM: 16.9

CMA / ARV

• ARV (on-the-fly): $254,880
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8611 Vickery Ln	0.56mi	3/2.5	2,223 (+3%)	12mo	$299,150	$135	53
1508 Princeton Dr	0.72mi	3/2.0	2,111 (-2%)	3mo	$250,000	$118	52
1300 Meadow Cir	0.33mi	3/2.0	1,850 (-14%)	2mo	$150,000	$81	51
8005 Hermitage Dr	0.53mi	4/2.0	2,240 (+4%)	12mo	$243,500	$109	51
8305 Meadow Dr	0.46mi	3/2.0	2,340 (+8%)	7mo	$308,000	$132	51
708 Windbrook Ct	0.42mi	4/2.0	1,988 (-8%)	12mo	$315,000	$158	49
1301 Meadow Cir	0.31mi	3/2.0	1,850 (-14%)	14mo	$219,000	$118	42
712 Windbrook Ct	0.41mi	4/2.0	1,879 (-13%)	14mo	$262,000	$139	40
7811 Meadow Dr	0.33mi	3/2.0	1,862 (-14%)	17mo	$219,000	$118	40
8206 Avignon Ln	0.57mi	3/2.0	1,892 (-12%)	16mo	$265,000	$140	32
725 Cedar Ln	0.74mi	4/3.0	2,382 (+10%)	19mo	$232,000	$97	29

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -40.4%
• Equity multiple: -0.26×
• Total profit: $-90,207
• Equity at exit: $38,003

10-year hold

• IRR: -65.2%
• Equity multiple: -0.98×
• Total profit: $-141,472
• Equity at exit: $22,037

Cash invested: $71,366 (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 72908

• Active inventory: 97

Monthly cashflow live

• Estimated rent: $1,257 medium
• Mortgage (P&I): −$1,337
• Tax est. 1.5%: −$319 /mo · $3,823/yr
• Insurance: −$106
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $-768

Break-even live

Break-even rent $2,230

Max offer price $143,726

Occupancy floor —

Sensitivity live

Price	-10% $-592	-5% $-680	+0% $-768	+5% $-856	+10% $-944
Rent	-10% $-867	-5% $-818	+0% $-768	+5% $-718	+10% $-669
Rate	-1.0pp $-640	-0.5pp $-703	base $-768	+0.5pp $-834	+1.0pp $-901

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: $63,720
• Closing costs: $7,646
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1415 Willowbrook Cir Fort Smith, AR	3.0	2.0	1650	$1,299	$0.79	15d	1	1.20mi

Listing history 4 events

1. 2026-05-21
   status Pending
2. 2026-04-21
   listed $1 Active
3. 2001-09-07
   soldstatus $38,000
4. 1996-12-30
   soldstatus $40,000

ⓘ 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 4/10 Moderate
• 🌡 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: $15,087
• − Mortgage interest: −$14,277
• − Property taxes: −$3,823
• − Insurance: −$1,274
• − Repairs & maintenance: −$1,207
• − Management: −$1,207
• − Depreciation: −$7,415
• Taxable loss: −$14,116
• Est. tax savings @ 24.0%: +$3,388
• After-tax cash flow: $-5,830/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): 14,288
• Household income: $72,732
• Rent vs Own: 34.4% rent · 65.6% own
• Severe rent burden: 354.0

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: Predominantly White (74%)
• Race & ethnicity: White 74% Two or more races 11% Hispanic / Latino 9% Asian 6% Black 2% Native American 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Slovak 4% Lithuanian 4% Italian 1%
• Foreign-born: 5% · Vietnam, Canada
• Languages at home: 90% English-only · Spanish 4% Vietnamese 3% Other Asian/Pacific 2%

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: ▼ -136.01%
• Current HPI: 202.0886
• Rent YoY: —
• 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

-5.0% since first listed

4 events — show timeline

• 2026-05-21 Pending — WRVBOR
• 2026-04-21 Listed $1 WRVBOR
• 2001-09-07 Sold (Public Records) $38,000 Public Records
• 1996-12-30 Sold (Public Records) $40,000 Public Records

Property tax history

+2.4%/yr

Latest (2025): $1,133 · +8.9% YoY. Source: county tax records.