Date: May 11, 2025 (Date of Death)
Date: March 4, 2026
Disclosure Statement
Notwithstanding any preprinted language to the contrary, this opinion is not an appraisal of the market value of the property. If an appraisal is desired, the services of a licensed or certified appraiser must be obtained. Pursuant to Ark. Code. Ann. § 1742-110(d), a broker price opinion or market analysis issued by a real estate licensee shall not contain the terms “market value”, “appraised value”, or “appraisal”.
Any reference in the report to a specific marketing time period is for illustrative purposes only and does not obligate the licensee or broker to sell the property within the stated timeframe or act as a representation or guarantee that the property will be sold within such timeframe.
Unless otherwise indicated, the broker price opinion assumes without investigation a fee simple title ownership interest without any reservation of minerals, subsurface rights, or otherwise.
This broker price opinion report is to be used solely for purposes allowed by state and federal law. If the report is to be used for any purpose not specifically allowed by state and federal law, legal counsel should be consulted.
Subject Property
The subject property consists of two (2) tracts consisting of a total 2017 surveyed acreage of 161.37, and 8/10s of an acre acquired by quitclaim deed from Sammy Hines. The property has been owned for over 50 years by the Klugh family, and utilized as a seasonal residence and recreational use ownership. The property is in southern Arkansas County in the Spanish Land Grant area associated with and characterized by Merrisach Lake. The neighborhood is widely known as a wildlife haven, very popular for waterfowl, turkey and deer hunting, along with a destination for fishing.
The primary tract is accessed from Hudson Lane, consists of approximately 132 acres with approximately 70% of this being elevated uplands with beautiful mature
ESTATE mixed uneven age hardwoods providing excellent habitat for deer and turkey. This area falls off to the balance of the acreage within Merrisach Lake. The elevated ridge above the lake is a camp/lodge site improved with an approximate 1,200 square foot, 3 bedroom/1 bathroom camp/lodge structure, with attached 2 vehicle carport, estimated to have been constructed over 40 years ago.
KLUGH
Subject Property
Bulleted List on the Property
There is a 3-bay shop building and two other ancillary structures which enhance functional utility of the property. Immediately below to the west of the elevated lodge is a boat ramp to the lake. The secondary tract consists of approximately 30 acres, by survey, and is situated approximately one-quarter mile south of the primary tract. Approximately two-thirds of this tract are elevated hardwoods, with the balance in the lake proper. The family ownership accesses this tract by boat from the primary tract for waterfowl hunting. This tract can also be accessed via an old logging road across a nonassociated landowner; it is not known if there is a filed legal easement for this access.
Real Estate Taxes
Primary Tract
Secondary Tract
It shall be noted that the acreages shown by the Arkansas County Assessor have a discrepancy from those shown by the survey completed in 2017. The assessor’s acreages are shown only for representative purposes.
Comparable Sales
COMPARABLE SALE #1
COMPARABLE SALE #3
SUBJECT PROPERTY
COMPARABLE SALE #2
COMPARABLE SALE #4
Property Photos
Broker’s Notes
CONTRIBUTORY PRICING OF THE IMPROVEMENTS
$80,000.00-$100,000.00
LAND
$437,400.00 to $518,400.00 ($2,700.00/acre to $3,200/acre)
PROBABLE SALES PRICE RANGE
$517,400.00 - $618,400.00
66%
Pricing above assumes the property is environmentally clean and does not have any title issues and/or deed restrictions. The information on comparable sales was obtained from public records and market participants.
5-star rating on reputable industry
** Pricing is based on the number of surveyed acres
16 Digital Awards