Score
0Romance, AR
111 E Davis Cir
159K
1 beds
1 baths
1,000 sqft
1 bd • 1 ba • 1,000 sf
This analysis was generated on 2/19/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
AI Property Analysis
0:000:00 / 0:00
List Price
$159,000
Price/Sq.Ft
$159
Year Built
2010
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
• Unique Octagon Design: The custom-built octagon house offers a distinctive and eye-catching architectural style that sets it apart from typical homes.
• Picturesque Setting: The property sits on 1.55 acres with a mix of pasture and woods, providing a tranquil and scenic environment. The pond adds to the property's natural appeal.
• Wrap-Around Porch: The wrap-around porch offers 360-degree views of the surrounding landscape, providing ample space for relaxation and outdoor enjoyment.
• Recent Price Reduction: The recent price reduction of 23.9% suggests the seller is motivated, potentially creating an opportunity for negotiation. The price per square foot is $159, which is lower than average for similar properties in more urban areas.
The Bad
• Limited Living Space: At 1,000 sq ft with only one bedroom and one bathroom, the property may feel cramped for some buyers, especially those accustomed to larger homes. Most new construction homes are built at 2,480 square feet.
• Rural Location: Romance, AR, is a very small and rural town with limited amenities and services. The nearest schools are almost 12 miles away. This may be a drawback for buyers who prefer the convenience of urban living.
• Dependence on Space Heater: The property relies on a space heater-gas for heating, which may not be as efficient or desirable as a central heating system. This could result in higher energy bills and inconsistent temperatures.
• Limited Market Data: The lack of median income data for Romance, AR, makes it difficult to assess the area's economic stability and potential for future growth.
The Ugly
• Unusual Price History: The property's price history is erratic, with a sale price of $2,814 in 2018 followed by a listing price of $229,000 in 2024. This raises concerns about the accuracy of the pricing and the potential for underlying issues.
• Major Fire Risk: The property has a Major fire risk (5/10), which could significantly increase insurance premiums and necessitate additional safety measures.
• Distance to Schools: The nearest schools are located 11.7 miles away in Beebe, which may be inconvenient for families with school-aged children.
• Listing Inconsistencies: The listing indicates a significant price increase of 8037.9% in October 2024, which is highly unusual and could be a data entry error. This raises concerns about the reliability of the listing information.
Who is this property for?
These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.
Best For
• Buyers Seeking a Unique, Rural Retreat: The octagon-shaped house, wrap-around porch, and 1.55-acre lot with a pond offer a distinctive and secluded living experience.
• Those Comfortable with Limited Space: With 1,000 sq ft and one bedroom, this property suits individuals or couples looking for a cozy, manageable home.
• Buyers Open to DIY and Rural Living: The property's unique design and location may require a hands-on approach to maintenance and a willingness to adapt to the challenges of rural living.
• Buyers seeking a weekend getaway: The custom built octagon house offers a unique structure with relaxation in mind. The wrap around porch to enjoy the 360 degree views!
Not For
• Buyers Needing Ample Space: The 1-bedroom, 1,000 sq ft layout may not be suitable for families or those requiring multiple bedrooms and living areas.
• Buyers Seeking Urban Amenities: Romance, AR, is a rural area with limited access to shopping, dining, and entertainment. This property is not ideal for those who prefer the convenience of city living.
• Buyers on a Tight Budget: While the list price may seem appealing, the unique nature of the property and its location could lead to higher maintenance and utility costs. Additionally, financing in rural areas can be more challenging, potentially requiring a larger down payment.
• Buyers Averse to Environmental Risks: The property has a Major fire risk (5/10) and Moderate wind risk (3/10), which may deter risk-averse buyers.
Demographics
Area Median Income
$0
Property History
Price History
Ownership Timeline
$2,412Cash Purchase
Sep 18, 2023Commissioner Of State LandsJames M Farnam, Barbara L Farnam
Redemption Deed
Non-Arm's Length Transactions
$2,814Cash Purchase
May 23, 2018Commissioner Of State LandsJames Farnam, Barbara Farnam
Redemption Deed
Non-Arm's Length Transactions
$0Cash Purchase
May 16, 2012Commisioner Of State LandsJames Farnam, Barbara Farnam
Redemption Deed
Non-Arm's Length Transactions
Property Taxes
$336
2023 Tax Assessment
55.9%from previous year
Assessed Value$18,690
Tax Rate1.80%
Sunlight Analysis
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Sunlight Analysis
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Schools
Nearby school quality by education level
Elementary
6.0/10
GoodMiddle
7.0/10
GoodHigh
6.0/10
GoodFinancials
Monthly Costs
Market Rent (1 bed)
Get a detailed estimate on Zillow$0
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