That property is relative velocity. It's as much a real, first-order property of any physical object as its relative position is. Our problem here is in imagining the arrow frozen in time and yet still being able to observe it. In reality, if we don't observe its instantaneous velocity, we're simply not fully observing it.
You and the OP may be starting from different definitions of 'material property'. The OP may be hypothesizing that a 'material' property must be objective. You may be hypothesizing that a 'material' property must be conserved.
Part of the OP's problem may be that the word 'material' is ambiguous. I think that the responders are divided between those who think 'material' means 'subjective' and those who think 'material' means 'conserved'.
Subjective and conserved are not equivalent. The horizontal momentum of the arrow may be conserved aside from a perturbation caused by air resistance. However, the horizontal momentum is not subjective. A turtle will see a zero momentum for the stationary arrow and nonzero momentum for the moving arrow. However, suppose Achilles is running to keep up with the arrow. Achilles will observer a nonzero momentum for the stationary arrow and a zero momentum for the moving arrow.
Sometimes, the a measurable property can be both. The number of atoms in an arrow can be conserved. Further, the number of atoms in the arrow are objective. All observers would count the same number of atoms in both arrows.
The turtle will count a specific number of atoms in the arrow. Achilles will count the same number of atoms in the arrow.
The same goes for momentum and kinetic energy. I would call them 'material properties' since they are measurable. To me, any measurable quantity that is conserved is a 'material quantity.'
The measurement of a subjective quantity will vary with the observer by definition. Hence, they are subjective. The kinetic energy, the relative velocity, the linear momentum, and the angular momentum are are also subjective. The reference has to be determined from the context of the physical situation.
The language of Zeno is spoken from the viewpoint of the surface of the earth. Zeno did not tell us whether the archer was on the ground or riding in a fast moving chariot. Therefore, all the other Greeks took the default reference, which is the archer is standing on the ground. If Zeno had said that the archer was standing in a moving chariot, then your answer would be definitely correct. However, specifying an archer on the ground would have confused the issue even more.
The difference between a moving arrow and a stationary arrow has to be subjective. The number of atoms does not determine whether the arrow is moving. The linear momentum relative to the earths surface does determine whether the arrow is moving.
Note that it doesn't matter whether Newton or Einstein are addressing the question. Newton and Einstein would agree that the physical properties that distinguish moving from not moving are subjective. The physics of Newton implies that the forces of the universe are invariant to a Galilean transformation. The physics of Einstein imply that the forces of the universe are Lorentz invariant. As long as the forces of the universe are invariant to any transformation, the movement of the arrow is 'subjective'.
The reason that the Jesuits banned the concept of infinitesimals is because infinitesimals are subjective. An infinitesimal is invariant to scale transformations. An infinitesimal looks the same through a microscope as it does through a telescope. So infinitesimals are intrinsically subjective. In the Jesuit mind, subjective meant immaterial.
Therefore, stop discussing the Zeno problem lest you all be DAMNED FOREVER and AYE!!!
