Fayetteville Arkansas Investing

[Taylor Heller]

Hey guys, I am wondering if there is anyone on here investing in SFR's or small multifamily properties around Fayetteville or northwest Arkansas? I live and invest in Nebraska right now, but love that area. Plus the prices seem to be much lower for much newer properties there. Just wanted to reach out and see how the rental market is down there. Thanks! Taylor

[Susan H.]

Originally posted by @Taylor Heller:

Hey guys,

I am wondering if there is anyone on here investing in SFR's or small multifamily properties around Fayetteville or northwest Arkansas? I live and invest in Nebraska right now, but love that area. Plus the prices seem to be much lower for much newer properties there. Just wanted to reach out and see how the rental market is down there.

Thanks! Taylor

 Hi Taylor,

I have SFRs in Fayetteville. One is within walking distance of the university and two others are west of I-49. The west side of town is a fast-growing community and there's a nice range of housing types and prices there. 

If you check Zillow, you'll see quite a range in rental rates across town. Pet-friendly rentals command a higher rate, btw.The closer you are to the university, the higher the rents seem to be. Older homes are being torn down with high-end units being built in their place. Neighborhoods east and north of the university are becoming a mix of new MFH and homes that were built in the 1940-1970 time period. Too many of the older places show little (if any) evidence of maintenance but are still commanding high prices, just by virtue of being close to campus and near the bus line and Razorback Greenway. Bidding wars tend to erupt when properties around campus come on the market. I found an older 3/2/0 in one of those neighborhoods for $150K that needed a lot of work (problems with roof, plumbing, electrical, etc.); it sold for $350K in "as is" condition. 

Every town in NWA has its own vibe. I'd say Fayetteville and Bentonville currently have the highest market rates but it really does vary. 

 PM if you want a local Realtor contact; I work with an investor-friendly agent who's helped me find/close two houses in the past 18 months. 

~Susan