407 Grand Ave · Banks, AR 71631

$168,000

3 bd · 2.0 ba · 1,560 sqft · SingleFamily public records · 249 Days on market

Built 1970 3.80 ac lot $108/sqft · 17% below area Est $203k · 17% under

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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).

• ARV discount +15.0/15.0
• Cash flow +7.2/30.0
• Appreciation +5.0/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0
• Schools +1.9/10.0
• DSCR +1.4/10.0

Listing remarks MLS

This gem is located on the edge of town. With around 3.8 acres of beautiful yard including a stocked pond great for fishing. The brick home has 3 bedrooms, 2 bathrooms and plenty of storage including a large laundry room. The convenience of quick access to the city along with having plenty of yard to enjoy makes this an easy choice for a home buyer. Come see it for yourself and schedule a tour.

Key facts

• Plenty of storage
• Large laundry room
• Peaceful pond

Tags

• PEACEFUL POND
• BEAUTIFUL YARD
• QUICK ACCESS TO THE CITY
• PLENTY OF STORAGE
• LARGE LAUNDRY ROOM

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $168k.

Deal economics

• At list price, monthly cash flow is $-228 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $135k (19.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $118k (29.7% below list).
• Recommended offer: $118k (29.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 57/100 on livability (#342 in AR) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: health & safety D, schools F, crime F.
• Warren School District (town): math 26% / reading 21% proficiency, ranked #198 of 238 in AR (top 83%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 7 active listings in the ZIP.

Forward outlook

• In year one you build about $6k of equity ($1k loan paydown + $5k appreciation (3.0% local appreciation)).
• Bradley County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 6, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 249 days — a 12% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y ago; this cycle's ask is 5% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $96k; list at $168k implies a 74% gain — meaningful room to come down on a strong offer.

Recommended offer $118,061 (29.7% below list)

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 249 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
3. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.70% ✗
• Cap rate: 4.66%
• Cash-on-cash: -5.82%
• DSCR: 0.74
• GRM: 11.9

CMA / ARV

• ARV (median comp): $203,234
• List price: $168,000
• Delta: -17.34%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
606 Sycamore St	0.17mi	3/2.0	1,498 (-4%)	15mo	$268,000	$179	73
207 S Honeysuckle St	0.28mi	3/1.5	1,579 (+1%)	14mo	$135,000	$85	71

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: 2.1%
• Equity multiple: 1.12×
• Total profit: $5,714
• Equity at exit: $75,540

10-year hold

• IRR: 5.7%
• Equity multiple: 1.87×
• Total profit: $40,772
• Equity at exit: $116,416

Cash invested: $47,040 (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 71631

• Active inventory: 7
• Price-to-rent: 11.9×

Monthly cashflow live

• Estimated rent: $1,181 medium
• Mortgage (P&I): −$881
• Tax est. 1.5%: −$210 /mo · $2,520/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$248
• Net cashflow: $-228

Break-even live

Break-even rent $1,470

Max offer price $134,962

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: $42,000
• Closing costs: $5,040
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-19
   days on market $168,000 Active 249 DOM
2. 2026-06-18
   days on market $168,000 Active 248 DOM
3. 2026-06-17
   days on market $168,000 Active 247 DOM
4. 2026-06-16
   days on market $168,000 Active 246 DOM
5. 2026-06-15
   days on market $168,000 Active 245 DOM
6. 2026-06-14
   days on market $168,000 Active 243 DOM
7. 2026-06-12
   days on market $168,000 Active 242 DOM
8. 2026-06-09
   days on market $168,000 Active 239 DOM
9. 2026-06-08
   days on market $168,000 Active 238 DOM
10. 2026-06-07
    days on market $168,000 Active 237 DOM
11. 2026-06-07
    days on market $168,000 Active 236 DOM
12. 2026-06-04
    days on market $168,000 Active 233 DOM
13. 2026-06-02
    days on market $168,000 Active 232 DOM
14. 2026-06-01
    days on market $168,000 Active 231 DOM
15. 2026-05-31
    days on market $168,000 Active 230 DOM
16. 2026-05-31
    days on market $168,000 Active 229 DOM
17. 2026-04-24
    price $168,000 397-char remark

    Show marketing remark (397 chars)

    This gem is located on the edge of town. With around 3.8 acres of beautiful yard including a stocked pond great for fishing. The brick home has 3 bedrooms, 2 bathrooms and plenty of storage including a large laundry room. The convenience of quick access to the city along with having plenty of yard to enjoy makes this an easy choice for a home buyer. Come see it for yourself and schedule a tour.

18. 2026-01-03
    price $158,000 397-char remark

    Show marketing remark (397 chars)

    This gem is located on the edge of town. With around 3.8 acres of beautiful yard including a stocked pond great for fishing. The brick home has 3 bedrooms, 2 bathrooms and plenty of storage including a large laundry room. The convenience of quick access to the city along with having plenty of yard to enjoy makes this an easy choice for a home buyer. Come see it for yourself and schedule a tour.

19. 2025-10-11
    listed $160,000 New Listing 397-char remark

    Show marketing remark (397 chars)

    This gem is located on the edge of town. With around 3.8 acres of beautiful yard including a stocked pond great for fishing. The brick home has 3 bedrooms, 2 bathrooms and plenty of storage including a large laundry room. The convenience of quick access to the city along with having plenty of yard to enjoy makes this an easy choice for a home buyer. Come see it for yourself and schedule a tour.

20. 2021-03-19
    soldstatus $96,500
21. 2021-03-18
    soldstatus $96,500 Sold 136-char remark

    Show marketing remark (136 chars)

    A nice 3 bedroom, 2 bath brick home with a quiet setting in the City Limits of Banks. Has a nice size barn with that country feel to it.

22. 2021-03-17
    soldstatus $96,500
23. 2021-01-26
    historical 136-char remark

    Show marketing remark (136 chars)

    A nice 3 bedroom, 2 bath brick home with a quiet setting in the City Limits of Banks. Has a nice size barn with that country feel to it.

24. 2021-01-08
    status Under Contract 136-char remark

    Show marketing remark (136 chars)

    A nice 3 bedroom, 2 bath brick home with a quiet setting in the City Limits of Banks. Has a nice size barn with that country feel to it.

25. 2020-12-23
    listed $110,000
26. 2020-12-21
    listed $110,000 New Listing 136-char remark

    Show marketing remark (136 chars)

    A nice 3 bedroom, 2 bath brick home with a quiet setting in the City Limits of Banks. Has a nice size barn with that country feel to it.

ⓘ 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: $14,167
• − Mortgage interest: −$9,411
• − Property taxes: −$2,520
• − Insurance: −$840
• − Repairs & maintenance: −$1,133
• − Management: −$1,133
• − Depreciation: −$4,887
• Taxable loss: −$5,757
• Est. tax savings @ 24.0%: +$1,382
• After-tax cash flow: $-1,358/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: Warren School District
• NCES district ID: 0500006
• Math proficiency: 26% ▼ -12.00%
• Reading proficiency: 21% ▼ -6.00%
• Median HH income: $32,986
• Composite: 19.22/100
• National rank: #8810
• State rank: #198 of 238 in AR

Livability — Banks

• Score: 57/100
• State rank: #342
• US rank: #21716

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Banks, AR
• Population (ZIP): 508

Population outlook (Bradley County) Hauer SSP2

• Today (2025): 10,347 people
• By 2030: 9,925 · -4.1%
• By 2040: 9,122 · -11.8%
• By 2050: 8,336 · -19.4%
• By 2075: 6,893 · -33.4%
• By 2100: 5,721 · -44.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Black 9% Hispanic / Latino 7% Two or more races 3%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Lithuanian 2% Italian 1%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 6%

Political lean MEDSL · Bradley

• 2024 margin: Solid R (+39.0) · D 29.9% · R 69.0% · Other 1.1%
• 2008→2024 swing: -24.6pp toward R · 2008: -14.4pp · 2024: -39.0pp
• All cycles: 2024: R+39.0 2020: R+30.7 2016: R+23.4 2012: R+18.5 2008: R+14.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+52.7% since first listed

10 events — show timeline

• 2026-04-24 Price Changed $168,000 CARMLS
• 2026-01-03 Price Changed $158,000 CARMLS
• 2025-10-11 Listed $160,000 CARMLS
• 2021-03-19 Sold (Public Records) $96,500 Public Records
• 2021-03-18 Sold (MLS) $96,500 CARMLS
• 2021-03-17 Sold (MLS) $96,500 CARMLS
• 2021-01-26 Listing Removed — CARMLS
• 2021-01-08 Pending — CARMLS
• 2020-12-23 Listed $110,000 CARMLS
• 2020-12-21 Listed $110,000 CARMLS

Property tax history

-30.8%/yr

Latest (2025): $67 · -89.5% YoY. Source: county tax records.