Little Rock, AR Attractive Sub Markets
Hi BP!
I'm a new investor based in Southern CA and I'm looking to start with SFH or small multi-family (2-4 units) properties to hold and rent long term. I've done a fair amount of research and identified Little Rock, AR as a market I want to dive into. I've made connections with a couple buyer's agents and have looked at a few properties as a result, but I want to get more educated on the sub markets I should be targeting. Ideally, I'd like to find something that is in a decent area today (I'm OK with it being a little rough around the edges), but that will find itself in the "path of progress" within the next five years.
Is anyone familiar with the Little Rock area? Any input is much appreciated.
In LR most areas that are within the i630 are Reasonable. Midtown is up and coming already. some parts of the old Quarters is good too.
Most of the Argenta area of North LR is in the path of progress.
Sherwood is good mostly C area.. Jacksonville can be patchy down south but the north is C+.
@Blake Wardman - Born and raised in LR, but currently live in Brooklyn, NY. I am currently closing on a SFH in LR. Due diligence is key. Feel free to PM me if you have questions.
@Hadar Orkibi that is extremely helpful and in line with some of the other feedback I've received. Thank you very much. Hope to have some good updates for you soon.
@Account Closed
@Account Closed best of luck on closing your deal. I'll certainly reach out.
@Account Closed As someone born and raised in LR, what are your thoughts on having an investment property in Mayflower? Are there any up and coming bedroom communities for the LR area that would be good to keep an eye on?
@Account Closed
I'm not sure of the rental market in that area, but it is very, very small. You may want to focus your efforts closer to Little Rock. I had to look up where Mayflower is and remember that I've been there maybe 5x times.
@Account Closed Thanks for the insider info. The fact that you had to look it up gives me a pretty good indication of just how far it's off the radar for people in LR. Congrats on the SFH. I hope your closing goes smoothly.
Another lifelong Little Rock resident here. My fire station is in a war zone, and I work all over town, so I will be glad to help you figure out the area if you want to PM me the address.
Mayflower is a pretty small town on I-40 between Conway and Little Rock, but it’s still less than a 10 minute drive from Little Rock. A large part of it was destroyed by a tornado about 5 years ago.
Conway is one of the better cities in central Arkansas outside of Little Rock. Tons of growth, great schools, and very little crime, especially compared to Little Rock.
@Account Closed i wasn't born in Arkansas but i can tell you that any town with 2000 people is not a good recipe for success. Conway to the north is a much better option.
@Hadar Orkibi This is a great example of why you should get to know a market. In my own area there are multiple small towns where rentals work because of the proximity to the larger town where I reside. This is why the BP community is so incredibly valuable.
@Casey Reep Navigating the crime map of LR has definitely been interesting. I certainly subscribe to the idea that if I wouldn't live there then it's not a great place to have a rental property. I'm still sifting through potential properties but will definitely reach out when I find some enticing ones. Thanks again for being so willing to share your insight as it's invaluable to an out-of-stater like myself!
Hey @Account Closed,
I am from the Benton/Bryant area. Just south of Little Rock. We have had massive growth in the past 3 years. Large retailers coming in and all kinda of new businesses. A 60 million hospital just started construction as well. It's pretty exciting to live in the area and being a realtor, it's good for business! I have a couple of deals if you would like to look at them.
Originally posted by @Sam Ferguson:Hey @Account Closed,
I am from the Benton/Bryant area. Just south of Little Rock. We have had massive growth in the past 3 years. Large retailers coming in and all kinda of new businesses. A 60 million hospital just started construction as well. It's pretty exciting to live in the area and being a realtor, it's good for business! I have a couple of deals if you would like to look at them.
I was surprised to see it took so long for somebody to mention Saline County. Benton and Bryant are booming and offer top public schools. People are flocking here and home prices are steadily rising. I work and live in Benton and also own 2 SFR properties in Benton. The rental market is very strong here currently. I own a SFR in Sherwood as well. The property I have there does well but I don't see myself picking up any more there. My focus will be to add to my portfolio from Benton/Bryant and Conway.
@Zane Moore a buddy of mine recently purchased a home in Benton, its his primary residence, but I have seen the trends you've mentioned about Benton and Bryant. I live in Cabot which has been thriving lately and I intend on investing in Cabot as well.
@Deborah Hardin,by confirmation process do you mean quieting the title? Please let me know if your firm does this and how much you charge/how that's calculated. Thank you!
Hi @Jill Curran - yes my firm does this.
We charge flat rate attorney fees, plus expenses. Not sure how many details I can give on here before my post gets deleted again for "self-promotion."
Thank you @Deborah Hardin. I've got your info and will be in touch.
Benton/Bryant does seem like a good area to invest because of the highly rated schools. I wonder what other areas people like? I think NLR above 40 tends to have some good value deals. I live in Maumelle just NW of LR which is a great area. It will be harder to find deals I imagine for newer investors but in terms of desirable areas I would argue it's one of the best areas around. West LR, Heights, Hillcrest are all great areas but again I would think hard to find deals in.
@Sam Ferguson sent you DM. let's connect
Any good PM recommendation ?
My goal is positive cash flow (income) and some appreciation. Shortlisted 3 areas - Benton, Conway, and Cobat. I am looking for some help to put them in order for the best areas to achieve my goal. TIA!
Jumping on here after 3 years! Are folks still thinking that Conway, outlying areas of Little Rock are a good bet?
@John M. Callahan Real Estate in Sherwood, AR is who I’ve used for PM for 5 years. I ha e no complaints!
10% per month, 50% 1st month for placement or lease renewal. -not ideal but I can shoot Rob Callahan a message and he takes care of things right away.
Congrats on getting started and welcome to the forum.
While not overly familiar with Arkansas it certainly is a state that has seen increased investment and development (particularly northwest opportunity). Best of luck and congrats on getting started again.
@Michael Koch Conway is very attractive to my partner and I. We are working on an apartment an apartment deal just outside of Conway. There are three collages there, the city is spending a ton of money on making the community nice.
Originally posted by @Zane Moore:Originally posted by @Sam Ferguson:Hey @Account Closed,
I am from the Benton/Bryant area. Just south of Little Rock. We have had massive growth in the past 3 years. Large retailers coming in and all kinda of new businesses. A 60 million hospital just started construction as well. It's pretty exciting to live in the area and being a realtor, it's good for business! I have a couple of deals if you would like to look at them.
I was surprised to see it took so long for somebody to mention Saline County. Benton and Bryant are booming and offer top public schools. People are flocking here and home prices are steadily rising. I work and live in Benton and also own 2 SFR properties in Benton. The rental market is very strong here currently. I own a SFR in Sherwood as well. The property I have there does well but I don't see myself picking up any more there. My focus will be to add to my portfolio from Benton/Bryant and Conway.
I have been investing in Saline county with very good results.