Historic, Lake Access, Income Potential
1916 Heber Springs Downtown Home, One Block from Main Street — $133,900
6
out of 10
HousesUnder150K Score
Property Merit 50% · Condition 25% · Price/Sq Ft 15% · Market 10%
| Category | Wt. | Score | Detail |
|---|---|---|---|
| Property Merit | 50% | 7 | 1916 historic home, 1392 sqft, walkable downtown, STR income potential noted |
| Condition | 25% | 6 | "Many upgrades completed" and "turn key" claimed but no system dates named |
| Price / Sq Ft | 15% | 9 | $96/sqft vs zip median $172/sqft — 44% below; 6 comps, directional only |
| Price vs. Market | 5% | 7 | $133,900 vs $215,437 median — 38% below zip median |
| Market Conditions | 5% | 7 | DOM 90 days, 41.8% price drops, 96.1% sale-to-list — clear buyer's market |
The price is the first thing worth understanding. At $96 per square foot, this 1916 house in downtown Heber Springs sits 44% below the zip code's median price per square foot. The zip median for comparable sales runs around $172. That gap is wide enough to matter, and it shows up in the list price too — $133,900 against a zip median closer to $215,000. Something built in 1916, one block from Main Street and two from Spring Park, priced like this, is worth a closer look.
The house is 1,392 square feet with two bedrooms and two baths. A century-old building at this size is not a sprawling property, but it has a real downtown footprint. You can walk to shops, restaurants, and the historical museum. Greers Ferry Lake draws steady tourist traffic, and the agent flags short-term rental income as a reason to buy. That framing tracks for this location. A downtown Heber Springs address with walkable amenities and proximity to the lake is a reasonable pitch for an Airbnb, and at this price, the math on that is easier than it would be for most comparable properties.
What you do not get from the listing is clarity on the condition. The agent says many upgrades have been completed and calls it turn key, but no dates are named for any systems. No roof year, no HVAC, no plumbing or electrical update. For a 108-year-old house, that silence is the thing to press on before you commit. A pre-inspection is not optional here — it is the whole ballgame.
The house has been on the market 90 days, and the broader market shows 41.8% of listings taking price drops. That context gives a buyer some room to negotiate, though the sale-to-list ratio of 96.1% suggests sellers in this market still hold some ground.
At $133,900, you are buying a historic downtown house in a lake town at a price that leaves room for work, for a tenant, or for whatever systems need updating once you actually know what you are dealing with. The location does real work here. The building just needs someone willing to ask the right questions first.
