4301 Spradling Ave · Fort Smith, AR 72904

$40,000

3 bd · 1.0 ba · 1,128 sqft · SingleFamily public records · 3 Days on market

Built 1970

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Attention Investors! Home on corner lot, over 1100sqft and convenient locations! Home is being sold AS-IS and needs TLC. Enter at own risk, floor/decking in need of repair.

Key facts

• Garage
• Built 1970
• Listed 3 days

Property features AI

Exterior

• Parking: Attached garage with 1 covered space; Concrete parking surface
• Utilities: Electricity available
• Home design: Single-family house; One level / single-story
• Construction: Vinyl siding; Block foundation; Shingle roof
• Exterior features: Covered patio/porch; Partial fencing; Cleared lot; Corner lot; Publicly maintained road access

Interior

• Kitchen: Convection oven; Oven
• Flooring: Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air; Ceiling fan(s) for cooling
• Interior features: Ceiling fans
• Laundry & utility: Electric dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $486 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($965 rent vs $40k).
• Cap rate 20.9% 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: Spradling Elementary School (math 31% / reading 27%, grade F, #324 of 454 statewide, top 72%, 319 students, 94% FRL); Dora Kimmons Jr. High School (math 22% / reading 32%, grade F, #156 of 201 statewide, top 78%, 841 students, 91% FRL); Northside High School (math 12% / reading 27%, grade F, #239 of 292 statewide, top 85%, 2,433 students, 74% FRL) — zoned schools average 86% FRL vs 64% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 98 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $277 of loan paydown is wiped out by about $1k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• 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 $40,000

Questions for the listing agent

1. Built in 1970 — 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: 2.41% ✓
• Cap rate: 20.88%
• Cash-on-cash: 52.09%
• DSCR: 3.32
• GRM: 3.5

CMA / ARV

• ARV (on-the-fly): $138,744
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4301 Spradling Ave	0.00mi	3/1.0	1,128 (0%)	1mo	$45,000	$40	99
3404 N 47th St	0.30mi	3/2.0	1,120 (-1%)	1mo	$145,000	$129	80
3620 N 48th St	0.32mi	3/2.0	1,057 (-6%)	4mo	$159,900	$151	68
4616 Johnson St	0.58mi	3/1.5	1,160 (+3%)	3mo	$144,900	$125	64
2912 Blair Ave	0.75mi	3/1.0	1,141 (+1%)	1mo	$115,000	$101	63
4705 Johnson St	0.57mi	3/2.0	1,160 (+3%)	4mo	$143,000	$123	62
3605 Wilma Ave	0.49mi	3/1.0	1,014 (-10%)	1mo	$157,000	$155	59
3610 N Johnson St	0.68mi	3/1.0	1,068 (-5%)	1mo	$55,000	$51	59
3513 Eller Ave	0.55mi	3/2.0	1,195 (+6%)	3mo	$175,000	$146	57
4600 Wirsing Ave	0.63mi	3/1.0	1,040 (-8%)	2mo	$68,000	$65	56
4300 Mussett Rd	0.69mi	3/1.0	980 (-13%)	8mo	$72,000	$73	39
3224 Emrich St	0.72mi	2/1.0 (-1)	972 (-14%)	8mo	$56,000	$58	32

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: 50.0%
• Equity multiple: 3.19×
• Total profit: $24,496
• Equity at exit: $5,964

10-year hold

• IRR: 55.5%
• Equity multiple: 6.47×
• Total profit: $61,260
• Equity at exit: $3,458

Cash invested: $11,200 (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 72904

• Active inventory: 98
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $965 high
• Mortgage (P&I): −$210
• Tax est. 1.5%: −$50 /mo · $600/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$203
• Net cashflow: $486

Break-even live

Break-even rent $350

Max offer price $40,000

Occupancy floor 45%

Sensitivity live

Price	-10% $514	-5% $500	+0% $486	+5% $472	+10% $459
Rent	-10% $410	-5% $448	+0% $486	+5% $524	+10% $562
Rate	-1.0pp $506	-0.5pp $496	base $486	+0.5pp $476	+1.0pp $465

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5201 Spradling Ave Fort Smith, AR	2.0	1.0	820	$780	$0.95	5d	4	0.56mi
4114 N 54th St Unit A Fort Smith, AR	2.0	1.5	1050	$950	$0.90	22d	1	0.73mi
4300 Wynnewood Dr Unit 2 Fort Smith, AR	2.0	2.0	1200	$1,100	$0.92	22d	1	1.00mi
4101 Walnut Park Dr Unit 4109 WP Fort Smith, AR	3.0	2.0	1272	$825	$0.65	22d	1	1.09mi
2409 N 30th St Unit 1 Fort Smith, AR	2.0	2.5	1258	$950	$0.76	22d	1	1.20mi

Listing history 2 events

1. 2026-05-15
   status Pending
2. 2026-05-11
   listed $40,000 Active

ⓘ 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 3/10 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: $11,583
• − Mortgage interest: −$2,241
• − Property taxes: −$600
• − Insurance: −$200
• − Repairs & maintenance: −$927
• − Management: −$927
• − Depreciation: −$1,164
• Taxable income: $5,526
• Est. tax owed @ 24.0%: −$1,326
• After-tax cash flow: $4,508/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): 21,296
• Household income: $41,909
• Rent vs Own: 46.9% rent · 53.1% own
• Severe rent burden: 851.0

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 0.69)
• Race & ethnicity: Hispanic / Latino 44% White 31% Two or more races 11% Black 9% Asian 9% Native American 1%
• Hispanic origin (detail): Mexican 30%
• Common ancestry: Iranian 0%
• Foreign-born: 26% · Canada, Vietnam
• Languages at home: 53% English-only · Spanish 37% Other Asian/Pacific 7% Vietnamese 3%

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: ▼ -81.65%
• Current HPI: 146.2281
• 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

2 events — show timeline

• 2026-05-15 Pending — WRVBOR
• 2026-05-11 Listed $40,000 WRVBOR

Property tax history

-17.3%/yr

Latest (2025): $53 · -58.8% YoY. Source: county tax records.