2231 Central Blvd · Bull Shoals, AR 72619

$119,500

3 bd · 1.5 ba · 1,508 sqft · SingleFamily public records · 76 Days on market

0.49 ac lot $79/sqft · 38% below area Est $154k · 23% 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 +17.2/30.0
• ARV discount +15.0/15.0
• DSCR +5.4/10.0
• 1% rule +3.7/10.0
• Livability +3.4/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Only 5 minutes to Bull Shoals Lake and 10 minutes to the Famous White River from the front door of this 3 bedroom, 1 1/2 bath home in the town of Bull Shoals. Convenient floor plan with large living room, kitchen, and separate laundry room. Vinyl sided for low maintenance. Sits on almost 1/2 acre m/l fairly level lot on paved road. Come take a look!

Key facts

• Vinyl sided
• Paved road
• Large living room

Tags

• LARGE LIVING ROOM
• SEPARATE LAUNDRY ROOM
• VINYL SIDED
• 1/2 ACRE FAIRLY LEVEL LOT
• PAVED ROAD

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $85 ($1k/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 $104k (12.6% below list).
• Recommended offer: $104k (12.6% below list) — sets the bar for 1% rule.
• Cap rate 7.1% vs local median 2.6% in Bull Shoals — 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 67/100 on livability (#92 in AR) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, housing A; Watch: schools F, amenities F, commute F.
• Flippin School District (rural): math 34% / reading 30% proficiency, ranked #143 of 238 in AR (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 75 active listings in the ZIP; 237 units permitted in Marion County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $826 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Marion County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $49k; list at $120k implies a 144% gain — meaningful room to come down on a strong offer.

Recommended offer $104,458 (12.6% below list)

Questions for the listing agent

1. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-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. 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: 0.87% ✗
• Cap rate: 7.14%
• Cash-on-cash: 3.04%
• DSCR: 1.14
• GRM: 9.5

CMA / ARV

• ARV (median comp): $154,438
• List price: $119,500
• Delta: -22.62%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
177 Westmoreland Dr	0.55mi	2/2.0 (-1)	1,423 (-6%)	24mo	$195,000	$137	38
165 Alford Dr	0.51mi	3/2.0	1,718 (+14%)	21mo	$200,000	$116	34

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: -11.5%
• Equity multiple: 0.58×
• Total profit: $-14,001
• Equity at exit: $17,818

10-year hold

• IRR: -2.4%
• Equity multiple: 0.84×
• Total profit: $-5,387
• Equity at exit: $10,332

Cash invested: $33,460 (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 72619

• Home prices YoY: -22.1%
• Active inventory: 75
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,045 medium
• Mortgage (P&I): −$627
• Tax from tax record: −$64 /mo · $768/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$219
• Net cashflow: $85

Break-even live

Break-even rent $937

Max offer price $119,500

Occupancy floor 87%

Sensitivity live

Price	-10% $152	-5% $119	+0% $85	+5% $51	+10% $17
Rent	-10% $2	-5% $44	+0% $85	+5% $126	+10% $167
Rate	-1.0pp $145	-0.5pp $115	base $85	+0.5pp $54	+1.0pp $22

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: $29,875
• Closing costs: $3,585
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $119,500 Active 76 DOM
2. 2026-06-19
   days on market $119,500 Active 74 DOM
3. 2026-06-18
   days on market $119,500 Active 73 DOM
4. 2026-06-17
   days on market $119,500 Active 72 DOM
5. 2026-06-16
   days on market $119,500 Active 71 DOM
6. 2026-06-15
   days on market $119,500 Active 70 DOM
7. 2026-06-14
   days on market $119,500 Active 68 DOM
8. 2026-06-12
   days on market $119,500 Active 67 DOM
9. 2026-06-09
   days on market $119,500 Active 64 DOM
10. 2026-06-08
    days on market $119,500 Active 63 DOM
11. 2026-06-07
    days on market $119,500 Active 62 DOM
12. 2026-06-05
    days on market $119,500 Active 59 DOM
13. 2026-06-03
    days on market $119,500 Active 58 DOM
14. 2026-06-02
    days on market $119,500 Active 57 DOM
15. 2026-06-01
    days on market $119,500 Active 56 DOM
16. 2026-05-31
    days on market $119,500 Active 55 DOM
17. 2026-05-30
    days on market $119,500 Active 54 DOM
18. 2026-03-31
    listed $119,500 Active 351-char remark

    Show marketing remark (351 chars)

    Only 5 minutes to Bull Shoals Lake and 10 minutes to the Famous White River from the front door of this 3 bedroom, 1 1/2 bath home in the town of Bull Shoals. Convenient floor plan with large living room, kitchen, and separate laundry room. Vinyl sided for low maintenance. Sits on almost 1/2 acre m/l fairly level lot on paved road. Come take a look!

19. 2012-10-12
    soldstatus $49,000
20. 2002-06-17
    soldstatus $33,000

ⓘ 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: $768 · $64/mo
• Projected year-2 tax: $768 · $64/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $12,535
• − Mortgage interest: −$6,694
• − Property taxes: −$768
• − Insurance: −$598
• − Repairs & maintenance: −$1,003
• − Management: −$1,003
• − Depreciation: −$3,476
• Taxable loss: −$1,006
• Est. tax savings @ 24.0%: +$241
• After-tax cash flow: $1,259/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: Flippin School District
• NCES district ID: 0506150
• Math proficiency: 34% ▼ -13.00%
• Reading proficiency: 30% ▼ -12.00%
• Median HH income: $35,855
• Composite: 26.54/100
• National rank: #7194
• State rank: #143 of 238 in AR

Livability — Bull Shoals

• Score: 67/100
• State rank: #92
• US rank: #10104

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bull Shoals, AR
• City population: 1,671
• Population (ZIP): 1,671

Population outlook (Marion County) Hauer SSP2

• Today (2025): 14,979 people
• By 2030: 14,153 · -5.5%
• By 2040: 12,546 · -16.2%
• By 2050: 11,386 · -24.0%
• By 2075: 9,663 · -35.5%
• By 2100: 8,248 · -44.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Asian 4% Hispanic / Latino 2% Two or more races 2%
• Common ancestry: Lithuanian 5% Romanian 3% Italian 3%
• Foreign-born: 4% · China, Canada
• Languages at home: 97% English-only · Other Asian/Pacific 2% Russian/Polish/Slavic 1%

Political lean MEDSL · Marion

• 2024 margin: Solid R (+60.2) · D 19.1% · R 79.3% · Other 1.5%
• 2008→2024 swing: -30.3pp toward R · 2008: -29.9pp · 2024: -60.2pp
• All cycles: 2024: R+60.2 2020: R+56.7 2016: R+55.1 2012: R+39.1 2008: R+29.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -47.66%
• Current HPI: 168.1902
• 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

+262.1% since first listed

3 events — show timeline

• 2026-03-31 Listed $119,500 MHMLS
• 2012-10-12 Sold (Public Records) $49,000 Public Records
• 2002-06-17 Sold (Public Records) $33,000 Public Records

Property tax history

+2.1%/yr

Latest (2025): $768 · +0.1% YoY. Source: county tax records.