251 Garland Ave · Hot Springs, AR 71913

$75,000

3 bd · 2.0 ba · 1,632 sqft · SingleFamily public records · 1 Days on market

Built 1930 6,969 sqft lot $46/sqft · 31% below area Est $108k · 31% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

If you’ve been waiting on a “perfect” house, this isn’t it. But if you’ve been waiting on potential, keep reading. Built in 1930, this 1600+ sq. ft. bungalow has original hardwood floors, high ceilings, a fireplace and just enough historic charm to make you overlook everything else for a minute. Currently 3 bedrooms with an extra room that could be a 4th. Two full bathrooms. Also featuring two kitchens — because apparently one wasn’t enough at some point in history. Condition? Let's call it "motivational. " Bring your vision, cash and a contractor who actually shows up. Located in the heart of Hot Springs, this one isn’t for everyone — but for the right buyer, it could turn into something impressive. As an added bonus, the back yard comes with complimentary kittens.

Key facts

• 6,969 sq ft lot
• Built 1930

Property features AI

Finance

• Other: Approx. lot dimensions: 57' x 126' (approx. 0.16 acres); Square footage reported from tax records

Exterior

• Parking: Parking pads
• Utilities: Public sewer; Public water; Municipal electric (Entergy); Natural gas
• Home design: Single-family property
• Construction: Crawl space foundation
• Exterior features: Stucco exterior; 3-tab shingle roof; Paved road access; Property located inside city limits; In subdivision

Interior

• Kitchen: Refrigerator stays
• Bedrooms: Bedrooms: see remarks
• Flooring: Wood flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Window units; Mini-split system
• Interior features: Wood floors; Wood-burning fireplace (site-built)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $695 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Cap rate 17.4% 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: crime F, amenities F, commute 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.
• Zoned schools: Hot Springs World Class High School (math 12% / reading 24%, grade F, #252 of 292 statewide, top 87%, 739 students, 100% FRL, charter) — zoned schools average 100% FRL vs 72% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.4%/yr); 986 active listings in the ZIP; 9 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).
• This rent runs 32% of the median local income ($56k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k 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 $21k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 9y 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.
• Current owner paid $35k; list at $75k implies a 114% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• 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 $75,000

Questions for the listing agent

1. Built in 1930 — 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: 1.97% ✓
• Cap rate: 17.41%
• Cash-on-cash: 39.71%
• DSCR: 2.77
• GRM: 4.2

CMA / ARV

• ARV (median comp): $108,345
• List price: $75,000
• Delta: -30.78%
• 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
140 Parkhill St	0.18mi	3/1.5	1,558 (-4%)	9mo	$120,000	$77	75
107 Barry St	0.19mi	3/2.0	1,409 (-14%)	0mo	$162,000	$115	68
214 Seventh St	0.48mi	4/2.5 (+1)	1,668 (+2%)	1mo	$120,000	$72	66
1016 Garland Ave	0.60mi	3/2.0	1,566 (-4%)	2mo	$120,000	$77	64
700 Sixth St	0.48mi	2/2.0 (-1)	1,567 (-4%)	8mo	$182,500	$116	59
705 Ward St	0.49mi	3/1.0	1,553 (-5%)	7mo	$85,000	$55	59
915 Prospect Ave	0.59mi	3/2.0	1,705 (+4%)	10mo	$348,500	$204	57
805 School St	0.39mi	2/2.0 (-1)	1,494 (-8%)	9mo	$40,000	$27	55
1113 W Grand Ave	0.55mi	3/1.0	1,459 (-11%)	6mo	$60,500	$41	48
1113 W Grand Ave	0.55mi	3/1.0	1,459 (-11%)	6mo	$60,500	$41	48
200 Sonnet St	0.74mi	4/1.5 (+1)	1,528 (-6%)	6mo	$169,000	$111	43
108 Helen St	0.68mi	3/1.0	1,490 (-9%)	10mo	$80,000	$54	41

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: 39.7%
• Equity multiple: 2.78×
• Total profit: $37,386
• Equity at exit: $11,183

10-year hold

• IRR: 47.7%
• Equity multiple: 6.37×
• Total profit: $112,797
• Equity at exit: $6,485

Cash invested: $21,000 (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: 4.2×

Monthly cashflow live

• Estimated rent: $1,480 high
• Mortgage (P&I): −$393
• Tax from tax record: −$50 /mo · $598/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$311
• Net cashflow: $695

Break-even live

Break-even rent $600

Max offer price $75,000

Occupancy floor 48%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
319 Hazel St Hot Springs National Park, AR	3.0	2.0	1743	$1,895	$1.09	44d	1	0.33mi
125 Oak St Unit 1-402 Hot Springs, AR	2.0	1.0	1150	$1,475	$1.28	44d	1	0.57mi
1036 Garland Ave Hot Springs National Park, AR	2.0	1.0	1200	$1,150	$0.96	44d	1	0.62mi
410 Oakwood Ave Hot Springs, AR	2.0–3.0	2.0	1000	$1,200	$1.20	44d	6	0.98mi
315 Convention Blvd Hot Springs, AR	2.0	1.0	900	$950	$1.06	44d	4	1.02mi
228 Henderson St Hot Springs National Park, AR	3.0	2.0	1585	$2,000	$1.26	44d	1	1.03mi
244 Palmetto St Hot Springs National Park, AR	4.0	2.0	1244	$1,595	$1.28	44d	1	1.06mi
103 Juniper Pl Hot Springs National Park, AR	3.0	1.0	1056	$1,250	$1.18	44d	1	1.42mi
150 Sun St Hot Springs National Park, AR	3.0	1.0	1120	$1,150	$1.03	44d	1	1.49mi

Listing history 7 events

1. 2026-05-19
   historical Active Under Contract 841-char remark

   Show marketing remark (841 chars)

   If you’ve been waiting on a “perfect” house, this isn’t it. But if you’ve been waiting on potential, keep reading. Built in 1930, this 1600+ sq. ft. bungalow has original hardwood floors, high ceilings, a fireplace and just enough historic charm to make you overlook everything else for a minute. Currently 3 bedrooms with an extra room that could be a 4th. Two full bathrooms. Also featuring two kitchens — because apparently one wasn’t enough at some point in history. Condition? Let's call it "motivational. " Bring your vision, cash and a contractor who actually shows up. Located in the heart of Hot Springs, this one isn’t for everyone — but for the right buyer, it could turn into something impressive. As an added bonus, the back yard comes with complimentary kittens.

2. 2026-03-22
   listed $75,000 Active 841-char remark

   Show marketing remark (841 chars)

   If you’ve been waiting on a “perfect” house, this isn’t it. But if you’ve been waiting on potential, keep reading. Built in 1930, this 1600+ sq. ft. bungalow has original hardwood floors, high ceilings, a fireplace and just enough historic charm to make you overlook everything else for a minute. Currently 3 bedrooms with an extra room that could be a 4th. Two full bathrooms. Also featuring two kitchens — because apparently one wasn’t enough at some point in history. Condition? Let's call it "motivational. " Bring your vision, cash and a contractor who actually shows up. Located in the heart of Hot Springs, this one isn’t for everyone — but for the right buyer, it could turn into something impressive. As an added bonus, the back yard comes with complimentary kittens.

3. 2022-07-13
   soldstatus
4. 2017-07-18
   soldstatus $35,000
5. 2017-07-13
   soldstatus $35,000 Sold
6. 2017-06-12
   status Under Contract
7. 2017-06-07
   listed $49,000 New Listing

ⓘ 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: $598 · $50/mo
• Projected year-2 tax: $598 · $50/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: $17,762
• − Mortgage interest: −$4,201
• − Property taxes: −$598
• − Insurance: −$375
• − Repairs & maintenance: −$1,421
• − Management: −$1,421
• − Depreciation: −$2,182
• Taxable income: $7,564
• Est. tax owed @ 24.0%: −$1,815
• After-tax cash flow: $6,524/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
• City population: 76,414
• 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

+53.1% since first listed

9 events — show timeline

• 2026-05-20 Pending — CARMLS
• 2026-05-19 Contingent — HSBOR
• 2026-03-22 Listed $75,000 HSBOR
• 2026-03-13 Listed $75,000 CARMLS
• 2022-07-13 Sold (MLS) — HSBOR
• 2017-07-18 Sold (Public Records) $35,000 Public Records
• 2017-07-13 Sold (MLS) $35,000 CARMLS
• 2017-06-12 Pending — CARMLS
• 2017-06-07 Listed $49,000 CARMLS

Property tax history

+3.5%/yr

Latest (2025): $598 · +6.3% YoY. Source: county tax records.