605 Second St · Hot Springs, AR 71913

$42,000

3 bd · 1.5 ba · 1,261 sqft · SingleFamily public records · 12 Days on market

Built 1965 6,534 sqft lot $33/sqft · 53% below area

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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
• Rent growth +4.1/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this 3-bedroom, 1.5-bath brick home offering 1,261 square feet, a carport, and just enough fire damage to make things interesting. This half-baked beauty has been tastefully pre-distressed, saving you years of wear and tear. Thankfully, the exterior remains intact, as well as portions of the interior. Inside, you’ll find a functional floor plan, solid bones, and renovation potential throughout. Select areas feature an “open ceiling concept, ” while some rustic charred accents add a level of character you simply can’t recreate with modern design trends. With damage limited to only part of the home, this property offers a rare chance to restore, rebuild, and build equity all at once. Whether you’re an investor, flipper, or ambitious homeowner, this could be your opportunity to own the house everyone on the block will remember. Being sold AS-IS.

Key facts

• Carport
• Open ceiling concept
• Brick home

Tags

• BRICK HOME
• CARPORT
• FUNCTIONAL FLOOR PLAN
• OPEN CEILING CONCEPT
• RENOVATION POTENTIAL
• DETACHED

Property features AI

Finance

• Other: Lot approximately 50' x 130' (about 0.15 acres)
• Financial info: Cash financing available

Exterior

• Parking: Carport
• Utilities: Public water; Municipal electric service (Entergy)
• Home design: Inside city limits
• Construction: Slab foundation; Roof described (see remarks)
• Exterior features: Brick exterior; Paved road access; Level lot

Interior

• Kitchen: Kitchen equipment specified (see remarks)
• Flooring: Carpet; Other (see remarks)
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Heating and/or cooling described (see remarks)
• Interior features: Carpet flooring and other floor types; Fireplace (see remarks); Additional rooms noted (see remarks); Kitchen equipment listed (see remarks)

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $42k.

Deal economics

• At list price, monthly cash flow is $792 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $42k).
• Cap rate 28.9% vs local median 2.8% in Hot Springs — 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 (#140 in AR) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: schools D, crime F, amenities F.
• Hot Springs School District (urban): math 24% / reading 25% proficiency, ranked #195 of 238 in AR (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+6.4%/yr); 986 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 117 units permitted in Garland County in 2024 (24 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $290 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Garland County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 6.4% rent growth), your $12k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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.
• Current owner paid $30k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $42,000

Questions for the listing agent

1. Built in 1965 — 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: 3.25% ✓
• Cap rate: 28.92%
• Cash-on-cash: 80.80%
• DSCR: 4.60
• GRM: 2.6

CMA / ARV

• ARV (median comp): $89,625
• List price: $42,000
• Delta: -53.14%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
605 Second St	0.00mi	3/1.5	1,261 (0%)	0mo	$30,000	$24	100
118 Landmark Trl	0.30mi	2/1.0 (-1)	1,288 (+2%)	9mo	$155,000	$120	68
215 Seventh St	0.43mi	2/1.0 (-1)	1,240 (-2%)	5mo	$129,900	$105	66
144 Centerview St	0.53mi	3/2.0	1,196 (-5%)	0mo	$151,000	$126	64
107 Barry St	0.44mi	3/2.0	1,409 (+12%)	0mo	$162,000	$115	58
209 N Patterson St	0.59mi	3/2.0	1,330 (+6%)	6mo	$77,000	$58	56
400 Summer St	0.48mi	2/1.0 (-1)	1,160 (-8%)	6mo	$95,000	$82	52
101 Hood Pl	0.55mi	3/1.0	1,092 (-13%)	1mo	$149,000	$136	50
225 Indiana St	0.61mi	4/2.0 (+1)	1,382 (+10%)	3mo	$208,100	$151	46
503 Beard St	0.71mi	3/1.0	1,120 (-11%)	2mo	$126,000	$113	45
313 Laser St	0.53mi	2/1.0 (-1)	1,092 (-13%)	8mo	$129,500	$119	39
410 Crestwood St	0.65mi	2/2.0 (-1)	1,449 (+15%)	8mo	$159,400	$110	31

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 · 6.43% rent growth · sell at horizon

5-year hold

• IRR: 84.9%
• Equity multiple: 5.13×
• Total profit: $48,514
• Equity at exit: $6,262

10-year hold

• IRR: 88.9%
• Equity multiple: 11.94×
• Total profit: $128,691
• Equity at exit: $3,631

Cash invested: $11,760 (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 71913

• Home prices YoY: -33.9%
• Rents YoY: 6.4%
• Active inventory: 986
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $1,363 high
• Mortgage (P&I): −$220
• Tax from tax record: −$47 /mo · $569/yr
• Insurance: −$18
• HOA: −$0
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $792

Break-even live

Break-even rent $361

Max offer price $42,000

Occupancy floor 37%

Sensitivity live

Price	-10% $816	-5% $804	+0% $792	+5% $780	+10% $768
Rent	-10% $684	-5% $738	+0% $792	+5% $846	+10% $900
Rate	-1.0pp $813	-0.5pp $803	base $792	+0.5pp $781	+1.0pp $770

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: $10,500
• Closing costs: $1,260
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1036 Garland Ave Hot Springs National Park, AR	2.0	1.0	1200	$1,150	$0.96	44d	1	0.59mi
319 Hazel St Hot Springs National Park, AR	3.0	2.0	1743	$1,895	$1.09	44d	1	0.62mi
410 Oakwood Ave Hot Springs, AR	2.0–3.0	2.0	1000	$1,200	$1.20	44d	6	0.68mi
228 Henderson St Hot Springs National Park, AR	3.0	2.0	1585	$2,000	$1.26	44d	1	0.74mi
125 Oak St Unit 1-307 Hot Springs, AR	2.0	1.0	1000	$1,350	$1.35	44d	1	0.85mi
125 Oak St Unit 1-402 Hot Springs, AR	2.0	1.0	1150	$1,475	$1.28	44d	1	0.85mi
125 Oak St Unit 1-306 Hot Springs, AR	2.0	1.0	970	$1,200	$1.24	44d	1	0.85mi
143 Alpine St Hot Springs National Park, AR	2.0	1.0	1000	$995	$0.99	44d	1	0.94mi
600 Higdon Ferry Rd #300 Hot Springs, AR	2.0	2.0	1388	$1,250	$0.90	44d	1	1.23mi
150 Sun St Hot Springs National Park, AR	3.0	1.0	1120	$1,150	$1.03	44d	1	1.25mi
244 Palmetto St Hot Springs National Park, AR	4.0	2.0	1244	$1,595	$1.28	44d	1	1.28mi
315 Convention Blvd Hot Springs, AR	2.0	1.0	900	$950	$1.06	44d	4	1.30mi

Listing history 7 events

1. 2026-05-15
   listed $42,000 New Listing 895-char remark

   Show marketing remark (895 chars)

   Welcome to this 3-bedroom, 1.5-bath brick home offering 1,261 square feet, a carport, and just enough fire damage to make things interesting. This half-baked beauty has been tastefully pre-distressed, saving you years of wear and tear. Thankfully, the exterior remains intact, as well as portions of the interior. Inside, you’ll find a functional floor plan, solid bones, and renovation potential throughout. Select areas feature an “open ceiling concept, ” while some rustic charred accents add a level of character you simply can’t recreate with modern design trends. With damage limited to only part of the home, this property offers a rare chance to restore, rebuild, and build equity all at once. Whether you’re an investor, flipper, or ambitious homeowner, this could be your opportunity to own the house everyone on the block will remember. Being sold AS-IS.

2. 2026-05-15
   listed $42,000 Active 895-char remark

   Show marketing remark (895 chars)

   Welcome to this 3-bedroom, 1.5-bath brick home offering 1,261 square feet, a carport, and just enough fire damage to make things interesting. This half-baked beauty has been tastefully pre-distressed, saving you years of wear and tear. Thankfully, the exterior remains intact, as well as portions of the interior. Inside, you’ll find a functional floor plan, solid bones, and renovation potential throughout. Select areas feature an “open ceiling concept, ” while some rustic charred accents add a level of character you simply can’t recreate with modern design trends. With damage limited to only part of the home, this property offers a rare chance to restore, rebuild, and build equity all at once. Whether you’re an investor, flipper, or ambitious homeowner, this could be your opportunity to own the house everyone on the block will remember. Being sold AS-IS.

3. 2015-06-26
   soldstatus $700,000
4. 1998-05-29
   soldstatus $53,000
5. 1997-11-24
   soldstatus $16,000
6. 1997-09-24
   soldstatus $16,000
7. 1997-08-19
   soldstatus $9,000

ⓘ 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: $569 · $47/mo
• Projected year-2 tax: $569 · $47/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥111°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 9% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,360
• − Mortgage interest: −$2,353
• − Property taxes: −$569
• − Insurance: −$210
• − Repairs & maintenance: −$1,309
• − Management: −$1,309
• − Depreciation: −$1,222
• Taxable income: $9,389
• Est. tax owed @ 24.0%: −$2,253
• After-tax cash flow: $7,249/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: Hot Springs School District
• NCES district ID: 0507890
• Math proficiency: 24% ▼ -15.00%
• Reading proficiency: 25% ▼ -12.00%
• Median HH income: $28,817
• Composite: 19.62/100
• National rank: #8746
• State rank: #195 of 238 in AR

Livability — Hot Springs

• Score: 65/100
• State rank: #140
• US rank: #12498

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hot Springs, AR
• County: Garland County · 76,414 people
• Metro: Hot Springs, AR
• Population (ZIP): 47,477
• Household income: $56,010
• Rent vs Own: 34.3% rent · 65.7% own
• Severe rent burden: 1442.0

Population outlook (Garland County) Hauer SSP2

• Today (2025): 100,343 people
• By 2030: 101,880 · +1.5%
• By 2040: 104,804 · +4.4%
• By 2050: 107,292 · +6.9%
• By 2075: 113,182 · +12.8%
• By 2100: 112,247 · +11.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Hispanic / Latino 8% Black 8% Two or more races 6% Asian 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 7% Other Indo-European 1%

Political lean MEDSL · Garland

• 2024 margin: Solid R (+36.2) · D 30.8% · R 67.0% · Other 2.2%
• 2008→2024 swing: -11.3pp toward R · 2008: -25.0pp · 2024: -36.2pp
• All cycles: 2024: R+36.2 2020: R+34.0 2016: R+34.1 2012: R+29.9 2008: R+25.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -137.67%
• Current HPI: 268.5228
• Rent YoY: ▲ 6.43%
• Metro: Hot Springs, AR
• 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

+233.3% since first listed

11 events — show timeline

• 2026-06-05 Sold (MLS) $30,000 HSBOR
• 2026-06-05 Sold (MLS) $30,000 CARMLS
• 2026-05-27 Pending — HSBOR
• 2026-05-27 Pending — CARMLS
• 2026-05-15 Listed $42,000 HSBOR
• 2026-05-15 Listed $42,000 CARMLS
• 2015-06-26 Sold (Public Records) $700,000 Public Records
• 1998-05-29 Sold (Public Records) $53,000 Public Records
• 1997-11-24 Sold (Public Records) $16,000 Public Records
• 1997-09-24 Sold (Public Records) $16,000 Public Records
• 1997-08-19 Sold (Public Records) $9,000 Public Records

Property tax history

+3.6%/yr

Latest (2025): $569 · +6.3% YoY. Source: county tax records.