508 May Ave · Fort Smith, AR 72901

$1

3 bd · 1.5 ba · 1,426 sqft · SingleFamily public records · 42 Days on market

6,957 sqft lot

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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 +5.9/30.0
• Rent growth +3.6/5.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• 1% rule +1.3/10.0
• DSCR +0.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Auction 11/25/2019 at 1 pm. Really nice & recently remodeled appx 1,681 sf 3 bedroom home w/ central heat & air, screened in porch, basement w/ storm shelter & bathroom, carport & lots more in great location. This home will make an excellent home or investment property and it is move-in ready!! 10% buyer's premium

Key facts

• 6,957 sq ft lot
• Listed 42 days

Property features AI

Exterior

• Parking: Detached carport; 1 covered parking space
• Utilities: Public water; Electricity available; Natural gas available; Water service available
• Home design: Single-family house; One story
• Construction: Vinyl siding; Shingle roof; Basement (walk-out)
• Exterior features: Enclosed patio/porch; Back yard fencing; Cleared lot; Paved, publicly maintained road access

Interior

• Kitchen: Oven
• Bedrooms: Bedrooms with walk-in closet(s)
• Flooring: Ceramic tile; Laminate; Wood
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Ceiling fans; Eat-in kitchen; Walk-in closets; Fireplace in the family room; Walk-out basement access
• Laundry & utility: Washer hookup; Electric dryer hookup; Gas water heater

🔨 Auction listing. The $1 list price is a nominal opening bid, not a real ask — every metric below is computed on the estimated value $168,268 (ARV from comps), not the list price.

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $1.

Deal economics

• At list price, monthly cash flow is $-330 ($-4k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $1).

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; 21 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 $1k of loan paydown is wiped out by about $5k 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 42 days — a 3% lower offer ($0) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: property tax is 252402.0% 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. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 0.63% ✗
• Cap rate: 3.94%
• Cash-on-cash: -8.41%
• DSCR: 0.63
• GRM: 13.3

CMA / ARV

• ARV (on-the-fly): $168,268
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
428 N 35th St	0.43mi	3/1.5	1,420 (-0%)	2mo	$110,000	$77	78
919 Clifton Ct	0.46mi	3/1.5	1,455 (+2%)	4mo	$176,000	$121	72
2808 Alabama Ave	0.25mi	3/2.0	1,316 (-8%)	4mo	$138,400	$105	70
2710 Reeder St	0.57mi	2/2.0 (-1)	1,425 (-0%)	3mo	$192,500	$135	64
2815 Dodson Ave	0.60mi	3/2.5	1,450 (+2%)	2mo	$212,000	$146	64
3710 Park Ave	0.61mi	3/1.5	1,510 (+6%)	2mo	$180,000	$119	60
634 Clifton Ct	0.39mi	2/2.0 (-1)	1,555 (+9%)	1mo	$90,000	$58	59
722 S 19th St	0.70mi	3/1.0	1,505 (+6%)	3mo	$135,000	$90	54
1005 N 16th St	0.71mi	3/2.0	1,538 (+8%)	3mo	$250,000	$163	49
1301 N Greenwood Ave	0.60mi	2/1.0 (-1)	1,304 (-9%)	2mo	$112,000	$86	49
606 S 18th St	0.73mi	2/1.5 (-1)	1,298 (-9%)	3mo	$40,000	$31	44
1404 N 18th St	0.74mi	4/2.0 (+1)	1,624 (+14%)	0mo	$190,900	$118	35

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: -29.6%
• Equity multiple: 0.01×
• Total profit: $-46,796
• Equity at exit: $25,089

10-year hold

• IRR: -25.4%
• Equity multiple: -0.31×
• Total profit: $-61,533
• Equity at exit: $14,549

Cash invested: $47,115 (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

Monthly cashflow live

• Estimated rent: $1,054 high
• Mortgage (P&I): −$882
• Tax est. 1.5%: −$210 /mo · $2,524/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$221
• Net cashflow: $-330

Break-even live

Break-even rent $1,472

Max offer price $120,516

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: $42,067
• Closing costs: $5,048
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
501 N May Ave Fort Smith, AR	2.0	1.0	1022	$825	$0.81	21d	1	0.03mi
3101 Park Ave Fort Smith, AR	3.0	2.0	1634	$1,650	$1.01	13d	1	0.19mi
3014 Presley St Fort Smith, AR	1.0–2.0	1.0–1.5	782	$925	$1.18	13d	4	0.35mi
3014 Presley St Unit FB44 Fort Smith, AR	2.0	1.5	1040	$925	$0.89	21d	1	0.36mi
800 S 19th St Fort Smith, AR	2.0	1.0	1286	$1,095	$0.85	3d	1	0.69mi
2820 S O St Fort Smith, AR	2.0	1.5	1024	$875	$0.85	21d	1	0.85mi
811 N 41st St Fort Smith, AR	2.0	1.0	1306	$900	$0.69	13d	1	0.87mi
3500 S N St Fort Smith, AR	1.0–2.0	1.0–1.5	834	$935	$1.12	21d	1	0.90mi
1453 N 35th St Fort Smith, AR	2.0	1.0	913	$900	$0.99	21d	1	0.91mi
1907 S N St Fort Smith, AR	2.0	1.0	1114	$950	$0.85	21d	1	0.96mi
1307 S 17th St Fort Smith, AR	3.0	1.5	1161	$1,150	$0.99	21d	1	0.97mi
3906 S N St Unit 3904 Fort Smith, AR	2.0	1.5	1024	$800	$0.78	21d	1	1.04mi
101 N 11th St Unit 112 Fort Smith, AR	2.0	2.0	1040	$1,240	$1.19	21d	1	1.08mi
101 N 11th St Fort Smith, AR	1.0–2.0	1.0–2.0	806	$1,115	$1.38	3d	9	1.10mi
1915 S U St Unit A Fort Smith, AR	2.0	2.0	900	$975	$1.08	21d	1	1.34mi
2307 S 23rd St Fort Smith, AR	3.0	2.5	1356	$1,595	$1.18	21d	1	1.34mi
813 N 48th St Fort Smith, AR	2.0	1.0	1170	$800	$0.68	21d	1	1.35mi
1331 S 46th St Fort Smith, AR	1.0–2.0	1.0–1.5	1075	$1,150	$1.07	13d	6	1.39mi
2800 Wharton Cir Unit 2323 Fort Smith, AR	2.0	2.0	1240	$925	$0.75	13d	1	1.43mi
4911 Free Ferry Rd Unit Vi Fort Smith, AR	2.0	2.0	1232	$1,150	$0.93	21d	1	1.44mi
2200 S 17th St Unit D Fort Smith, AR	3.0	2.0	1123	$975	$0.87	21d	1	1.44mi

Listing history 17 events

1. 2026-06-15
   status $1 Pending 42 DOM
2. 2026-06-15
   days on market $1 Active 42 DOM
3. 2026-06-14
   days on market $1 Active 40 DOM
4. 2026-06-13
   days on market $1 Active 39 DOM
5. 2026-06-10
   days on market $1 Active 37 DOM
6. 2026-06-09
   days on market $1 Active 36 DOM
7. 2026-06-08
   days on market $1 Active 35 DOM
8. 2026-06-07
   days on market $1 Active 34 DOM
9. 2026-06-03
   days on market $1 Active 30 DOM
10. 2026-06-02
    days on market $1 Active 29 DOM
11. 2026-06-01
    days on market $1 Active 28 DOM
12. 2026-05-31
    days on market $1 Active 27 DOM
13. 2026-05-30
    days on market $1 Active 26 DOM
14. 2026-04-30
    listed $1 Active
15. 2019-12-20
    soldstatus $66,000 339-char remark

    Show marketing remark (339 chars)

    Auction 11/25/2019 at 1 pm. Really nice & recently remodeled appx 1,681 sf 3 bedroom home w/ central heat & air, screened in porch, basement w/ storm shelter & bathroom, carport & lots more in great location. This home will make an excellent home or investment property and it is move-in ready!! 10% buyer's premium

16. 2019-12-20
    soldstatus $66,000

    Show marketing remark (339 chars)

    Auction 11/25/2019 at 1 pm. Really nice & recently remodeled appx 1,681 sf 3 bedroom home w/ central heat & air, screened in porch, basement w/ storm shelter & bathroom, carport & lots more in great location. This home will make an excellent home or investment property and it is move-in ready!! 10% buyer's premium

17. 2019-10-30
    listed $66,000 339-char remark

    Show marketing remark (339 chars)

    Auction 11/25/2019 at 1 pm. Really nice & recently remodeled appx 1,681 sf 3 bedroom home w/ central heat & air, screened in porch, basement w/ storm shelter & bathroom, carport & lots more in great location. This home will make an excellent home or investment property and it is move-in ready!! 10% buyer's premium

ⓘ 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 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: $12,651
• − Mortgage interest: −$9,426
• − Property taxes: −$2,524
• − Insurance: −$841
• − Repairs & maintenance: −$1,012
• − Management: −$1,012
• − Depreciation: −$4,895
• Taxable loss: −$7,059
• Est. tax savings @ 24.0%: +$1,694
• After-tax cash flow: $-2,266/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

+0.0% since first listed

4 events — show timeline

• 2026-04-30 Listed $1 WRVBOR
• 2019-12-20 Sold (Public Records) $66,000 Public Records
• 2019-12-20 Sold (MLS) $66,000 WRVBOR
• 2019-10-30 Listed $66,000 WRVBOR

Property tax history

+5.5%/yr

Latest (2025): $1,101 · +8.9% YoY. Source: county tax records.