135 #54 Dr Unit Hillview 54 · Fairfield Bay, AR 72088

$73,000

2 bd · 1.5 ba · 1,117 sqft · Townhouse · 9 Days on market

Built 1975 Good condition Est $98k · 26% under $202/mo HOA · 10% of rent

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Why this score? — see what drove the A- 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
• Appreciation +4.8/10.0
• Schools +3.8/10.0
• Condition / age +3.8/5.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0

Listing remarks

Move-in ready & a great value, this well-maintained Lakewood condo features brand-new carpet and fresh paint throughout. Located in a private setting backing up to a wooded area, this condo offers the perfect combination of comfort and convenience. Excellent full-time residence, vacation getaway, or investment property. Energy-efficient windows help keep utility costs low, while tile flooring in key areas adds durability and style. An additional sleeping nook adjoining one bedroom provides flexible space for guests or a home office. Ideally situated directly across from the private Lakewood pool and within walking distance of shopping, dining, entertainment, and the Hart Center, this

Key facts

• Fresh paint
• Tile flooring
• Private setting

Tags

• BRAND-NEW CARPET
• FRESH PAINT
• ENERGY-EFFICIENT WINDOWS
• TILE FLOORING
• ADDITIONAL SLEEPING NOOK
• PRIVATE SETTING

Property features AI

Finance

• HOA & community: Monthly association fee of $46; Additional association fee listed as $156

Exterior

• Parking: Assigned parking pads for 2 cars
• Utilities: Public water; Community sewer; Electric via cooperative
• Home design: Condo (Lakewood Hills Condo); Inside city limits
• Construction: Metal/vinyl siding; Architectural shingle roof; Slab foundation
• Exterior features: Paved road access; Resort property with extra landscaping; Located in a subdivision; River/lake area

Interior

• Kitchen: Free-standing stove; Electric range; Microwave; Dishwasher; Disposal; Refrigerator stays
• Flooring: Carpet; Tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central electric heat; Central electric cooling
• Interior features: Carpet and tile flooring; Bonus room

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath townhouse listed at $73k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $874 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $73k).
• Cap rate 20.7% vs local median 5.7% in Fairfield Bay — 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 62/100 on livability (#220 in AR) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: employment D+, amenities F, commute F.
• Shirley School District (rural): math 44% / reading 42% proficiency, ranked #132 of 245 in AR (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Shirley Elementary School (math 12% / reading 12%, grade F, #419 of 454 statewide, top 93%, 180 students, 100% FRL); Shirley High School (math 22% / reading 32%, grade F, #164 of 292 statewide, top 61%, 139 students, 100% FRL) — zoned schools average 100% FRL vs 73% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 20% at this address vs 43% district-wide (-24 pts) — the specific schools serving this property underperform the Shirley School District average; the district grade overstates school quality for this exact location.
• Market conditions: 264 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 16 units permitted in Van Buren County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $157 of equity ($505 loan paydown + $-348 appreciation (-0.5% local appreciation)).
• Van Buren County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-0.5% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $73,000

Questions for the listing agent

1. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 2.74% ✓
• Cap rate: 20.65%
• Cash-on-cash: 51.28%
• DSCR: 3.28
• GRM: 3.0

CMA / ARV

• ARV (on-the-fly): $98,296
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
135 Hillview Dr #101	0.11mi	2/1.5	1,117 (0%)	1mo	$75,000	$67	94
135 Hillview Dr #116	0.11mi	2/1.5	1,117 (0%)	2mo	$98,000	$88	93
135 Hillview Dr #6	0.11mi	2/1.5	1,133 (+1%)	8mo	$98,000	$86	86
135 Hillview #52	0.11mi	2/1.5	1,117 (0%)	14mo	$89,000	$80	84
135 Hillview Dr #82	0.11mi	2/1.5	1,179 (+6%)	10mo	$79,900	$68	77
120 Shorthaven Ln	0.28mi	2/1.5	1,102 (-1%)	13mo	$125,000	$113	74
134 Richwood Dr #3	0.43mi	1/2.0 (-1)	1,095 (-2%)	1mo	$85,000	$78	69
118 Richwood Dr #49	0.32mi	2/2.0	1,218 (+9%)	2mo	$80,000	$66	66
125 Chelsea Dr #33	0.62mi	2/2.0	1,156 (+4%)	10mo	$185,000	$160	55
104 Chelsea Dr #42	0.48mi	2/2.5	1,066 (-5%)	14mo	$99,000	$93	54
134 Richwood Dr #12	0.43mi	2/2.0	1,272 (+14%)	13mo	$132,500	$104	44
134 Richwood Dr #11	0.43mi	1/2.0 (-1)	970 (-13%)	18mo	$89,500	$92	36

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-0.48% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 52.3%
• Equity multiple: 3.55×
• Total profit: $52,034
• Equity at exit: $19,475

10-year hold

• IRR: 55.3%
• Equity multiple: 7.13×
• Total profit: $125,363
• Equity at exit: $22,076

Cash invested: $20,440 (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 72088

• Home prices YoY: -0.2%
• Active inventory: 264
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $2,000 medium
• Mortgage (P&I): −$383
• Tax est. 1.5%: −$91 /mo · $1,095/yr
• Insurance: −$30
• HOA: −$202
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $874

Break-even live

Break-even rent $894

Max offer price $73,000

Occupancy floor 51%

Sensitivity live

Price	-10% $924	-5% $899	+0% $874	+5% $848	+10% $823
Rent	-10% $716	-5% $795	+0% $874	+5% $953	+10% $1,032
Rate	-1.0pp $910	-0.5pp $892	base $874	+0.5pp $855	+1.0pp $835

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: $18,250
• Closing costs: $2,190
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
106 Set Ct Fairfield Bay, AR	3.0	2.0	1300	$2,000	$1.54	46d	1	0.67mi

HOA detail

• Monthly dues: $202 · $2,424/yr
• Likely covers: pool

Listing history 8 events

1. 2026-06-21
   days on market $73,000 Active 9 DOM
2. 2026-06-19
   statusdays on market $73,000 Active 7 DOM
3. 2026-06-18
   days on market $73,000 New Listing 6 DOM
4. 2026-06-17
   days on market $73,000 New Listing 5 DOM
5. 2026-06-16
   days on market $73,000 New Listing 4 DOM
6. 2026-06-15
   days on market $73,000 New Listing 3 DOM
7. 2026-06-13
   remarks 695-char remark
8. 2026-06-13
   listed $73,000 New Listing 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $24,000
• − Mortgage interest: −$4,089
• − Property taxes: −$1,095
• − Insurance: −$365
• − Repairs & maintenance: −$1,920
• − Management: −$1,920
• − HOA: −$2,424
• − Depreciation: −$2,124
• Taxable income: $10,063
• Est. tax owed @ 24.0%: −$2,415
• After-tax cash flow: $8,067/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This move-in ready townhouse is in good condition with minor repairs needed. It offers a great value with a private setting and access to a pool.

Repairs flagged

• Minor Kitchen cabinets — Standard cabinets with minor wear
• Minor Bathroom fixtures — Standard fixtures with minor wear

Value-add opportunities

• Resale Paint exterior — Enhances curb appeal
• Rental Replace carpet — Improves comfort and reduces maintenance

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Standard cabinets with minor wear	Minor	$500–3,000
Bathroom fixtures · Standard fixtures with minor wear	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Resale Paint exterior — Enhances curb appeal ↑
• Rental Replace carpet — Improves comfort and reduces maintenance ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Shirley School District
• NCES district ID: 0512420
• Math proficiency: 44% ▲ 4.00%
• Reading proficiency: 42% ▲ 1.00%
• Median HH income: $36,296
• Composite: 37.98/100
• National rank: #8669
• State rank: #132 of 245 in AR

Livability — Fairfield Bay

• Score: 62/100
• State rank: #220
• US rank: #16778

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fairfield Bay, AR
• City population: 2,264
• Population (ZIP): 2,264

Population outlook (Van Buren County) Hauer SSP2

• Today (2025): 15,459 people
• By 2030: 14,645 · -5.3%
• By 2040: 12,918 · -16.4%
• By 2050: 11,263 · -27.1%
• By 2075: 7,870 · -49.1%
• By 2100: 4,918 · -68.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 6% Two or more races 3% Asian 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Lithuanian 9% Iranian 2% Romanian 2%
• Foreign-born: 3% · Canada, Dominican Republic
• Languages at home: 94% English-only · Other Asian/Pacific 4% Tagalog/Filipino 1% Spanish 1%

Political lean MEDSL · Van Buren

• 2024 margin: Solid R (+60.2) · D 18.9% · R 79.0% · Other 2.1%
• 2008→2024 swing: -28.5pp toward R · 2008: -31.7pp · 2024: -60.2pp
• All cycles: 2024: R+60.2 2020: R+56.9 2016: R+53.9 2012: R+39.5 2008: R+31.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.48%
• Current HPI: 238.2694
• 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

1 event — show timeline

• 2026-06-12 Listed $73,000 CARMLS