228 Frost Rd · Caddo Valley, AR 71923

$139,900

3 bd · 2.0 ba · 1,248 sqft · SingleFamily public records · 72 Days on market

Built 1998 0.40 ac lot $112/sqft · at area comps Est $141k · at est.

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Why this score? — see what drove the D 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 +15.6/30.0
• ARV discount +7.7/15.0
• DSCR +4.8/10.0
• 1% rule +3.1/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great Opportunity on Spacious Lot! This 3-bedroom, 2-bath home offers 1,248 square feet of living space and sits on a generous 0.40-acre lot, providing plenty of room to enjoy outdoor living. Inside, you'll find a functional layout with great potential. With a few cosmetic updates, this property can easily be transformed into a beautiful and comfortable home tailored to your style. The seller is offering a $5,000 credit that can be used toward upgradesgiving you flexibility to make this home your own. Whether you're a first-time buyer, investor, or someone looking for a project, this home presents a fantastic opportunity. Property is being sold as-is.

Key facts

• 0.4 acre lot
• Garage
• Built 1998

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $59 ($705/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $114k (18.7% below list).
• Recommended offer: $114k (18.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 58/100 on livability (#330 in AR) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment D+, health & safety D+, crime F.
• Arkadelphia School District (town): math 28% / reading 28% proficiency, ranked #167 of 238 in AR (top 70%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Louisa Perritt Primary (502 students, 65% FRL); Goza Middle School (math 30% / reading 30%, grade F, #139 of 201 statewide, top 71%, 418 students, 57% FRL); Arkadelphia High School (math 14% / reading 28%, grade F, #228 of 292 statewide, top 79%, 586 students, 46% FRL).
• Market conditions: 129 active listings in the ZIP; 12 units permitted in Clark County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $967 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $67k; list at $140k implies a 109% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $113,701 (18.7% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.81% ✗
• Cap rate: 6.80%
• Cash-on-cash: 1.80%
• DSCR: 1.08
• GRM: 10.3

CMA / ARV

• ARV (median comp): $140,676
• List price: $139,900
• Delta: -0.55%
• Verdict: FAIR
• Comps: 13 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
103 Liberty Ln	0.50mi	3/1.5	1,222 (-2%)	10mo	$164,900	$135	63
139 Dodson St	0.35mi	3/2.0	1,109 (-11%)	13mo	$168,000	$151	54
317 Malvern Rd	0.68mi	3/1.5	1,160 (-7%)	12mo	$91,500	$79	44

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: -13.5%
• Equity multiple: 0.52×
• Total profit: $-18,987
• Equity at exit: $20,860

10-year hold

• IRR: -4.7%
• Equity multiple: 0.69×
• Total profit: $-11,960
• Equity at exit: $12,096

Cash invested: $39,172 (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 71923

• Home prices YoY: -21.8%
• Active inventory: 129
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,137 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$48 /mo · $570/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$239
• Net cashflow: $59

Break-even live

Break-even rent $1,063

Max offer price $139,900

Occupancy floor 90%

Sensitivity live

Price	-10% $138	-5% $98	+0% $59	+5% $19	+10% $-20
Rent	-10% $-31	-5% $14	+0% $59	+5% $104	+10% $149
Rate	-1.0pp $129	-0.5pp $94	base $59	+0.5pp $23	+1.0pp $-14

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-19
   status $139,900 Under Contract 72 DOM
2. 2026-06-18
   days on market $139,900 Active 72 DOM
3. 2026-06-17
   days on market $139,900 Active 71 DOM
4. 2026-06-16
   statusdays on market $139,900 Active 70 DOM
5. 2026-06-15
   days on market $139,900 Price Change 69 DOM
6. 2026-06-14
   days on market $139,900 Price Change 67 DOM
7. 2026-06-12
   days on market $139,900 Price Change 66 DOM
8. 2026-06-09
   pricestatusdays on market $139,900 Price Change 63 DOM
9. 2026-06-08
   days on market $149,900 Active 62 DOM
10. 2026-06-07
    days on market $149,900 Active 61 DOM
11. 2026-06-07
    days on market $149,900 Active 60 DOM
12. 2026-06-04
    days on market $149,900 Active 57 DOM
13. 2026-06-02
    days on market $149,900 Active 56 DOM
14. 2026-06-01
    days on market $149,900 Active 55 DOM
15. 2026-05-31
    days on market $149,900 Active 54 DOM
16. 2026-05-31
    days on market $149,900 Active 53 DOM
17. 2026-04-09
    listed $149,900 Active 659-char remark

    Show marketing remark (659 chars)

    Great Opportunity on Spacious Lot! This 3-bedroom, 2-bath home offers 1,248 square feet of living space and sits on a generous 0.40-acre lot, providing plenty of room to enjoy outdoor living. Inside, you'll find a functional layout with great potential. With a few cosmetic updates, this property can easily be transformed into a beautiful and comfortable home tailored to your style. The seller is offering a $5,000 credit that can be used toward upgradesgiving you flexibility to make this home your own. Whether you're a first-time buyer, investor, or someone looking for a project, this home presents a fantastic opportunity. Property is being sold as-is.

18. 2026-04-06
    listed $149,900 New Listing 678-char remark

    Show marketing remark (678 chars)

    Great Opportunity on Spacious Lot! This 3-bedroom, 2-bath home offers 1,248 square feet of living space and sits on a generous 0.40-acre lot, providing plenty of room to enjoy outdoor living. Inside, you’ll find a functional layout with great potential. With a few cosmetic updates, this property can easily be transformed into a beautiful and comfortable home tailored to your style. The seller is offering a $5,000 credit that can be used toward upgrades—giving you flexibility to make this home your own. Whether you’re a first-time buyer, investor, or someone looking for a project, this home presents a fantastic opportunity. Property is being sold as-is.

19. 2026-04-04
    historical
20. 2026-02-03
    status Back on Market
21. 2026-01-27
    historical Take Backups
22. 2026-01-06
    price $154,900
23. 2025-10-03
    listed $164,900 New Listing
24. 1998-03-01
    soldstatus $67,000

ⓘ 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: $570 · $48/mo
• Projected year-2 tax: $895 · $75/mo
• Expected delta: +$325/yr (+$27/mo · 57.1%)

ⓘ 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 6/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 16% 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: $13,644
• − Mortgage interest: −$7,837
• − Property taxes: −$570
• − Insurance: −$700
• − Repairs & maintenance: −$1,092
• − Management: −$1,092
• − Depreciation: −$4,070
• Taxable loss: −$1,715
• Est. tax savings @ 24.0%: +$412
• After-tax cash flow: $1,117/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: Arkadelphia School District
• NCES district ID: 0502430
• Math proficiency: 28% ▼ -13.00%
• Reading proficiency: 28% ▼ -12.00%
• Median HH income: $35,116
• Composite: 23.13/100
• National rank: #7954
• State rank: #167 of 238 in AR

Livability — Caddo Valley

• Score: 58/100
• State rank: #330
• US rank: #21502

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Caddo Valley, AR
• Population (ZIP): 14,374

Population outlook (Clark County) Hauer SSP2

• Today (2025): 22,335 people
• By 2030: 22,306 · -0.1%
• By 2040: 21,839 · -2.2%
• By 2050: 21,961 · -1.7%
• By 2075: 24,186 · +8.3%
• By 2100: 25,897 · +15.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Black 25% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Slovak 2% Lithuanian 1% Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Clark

• 2024 margin: Strong R (+20.5) · D 38.6% · R 59.1% · Other 2.2%
• 2008→2024 swing: -16.7pp toward R · 2008: -3.8pp · 2024: -20.5pp
• All cycles: 2024: R+20.5 2020: R+14.0 2016: R+9.5 2012: R+6.4 2008: R+3.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -58.38%
• Current HPI: 209.8396
• 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

+123.7% since first listed

8 events — show timeline

• 2026-04-09 Listed $149,900 NEABOR MLS
• 2026-04-06 Listed $149,900 CARMLS
• 2026-04-04 Listing Removed — CARMLS
• 2026-02-03 Relisted — CARMLS
• 2026-01-27 Contingent — CARMLS
• 2026-01-06 Price Changed $154,900 CARMLS
• 2025-10-03 Listed $164,900 CARMLS
• 1998-03-01 Sold (Public Records) $67,000 Public Records

Property tax history

+0.3%/yr

Latest (2025): $570 · +2.1% YoY. Source: county tax records.