All Forum Posts by: William Allen Ball

$275,750

$180 per sqr ft

Feel free to call if you are interested.

Willa Ball

479-644-9395

Single family home investment property for sale in Pea Ridge Arkansas.  3 bed, 2 bath, 2 car garage, 1532 sqr ft.  .28 acre lot.  Built in 2006.  No carpet, large fenced yard.  Last long term rental rate was $1595 per month.  Pea Ridge is the fastest growing community in Northwest Arkansas.  We estimate that with some upgrades that this property would lease at $1750 +

I have a portfolio of 9 doors (2 duplex, 5 single family) in Northwest Arkansas.  I am looking to sell all to one investor, if possible.  I have only ever bought, so this is my first time to sell.  I am trying to figure out the best approach to price the portfolio..  Income approach?  Gross Rent Multiplier ?  Sales comparison ?  These properties are in desirable parts of Bentonville and Bella Vista AR, with no deferred maintenance, but several units are well below market rents with long term tenants.

 Hi Juan,  our townhomes are actually in Pea Ridge, but that wasnt a choice when I was selecting a nearby town..:-)  

Thanks Kyle,  Thats what we are trying to figure out.  do concessions and perks get peoples attention or lower rent..

We have 10 doors that are mine and my wife's personally and we rent them quickly because we keep them below the market a bit, but these townhomes are admittedly at the top end of the market for this area.

The conditions are pristine as they are brand new, we are still in the process of building them. 

We are building 32 townhomes (8- 4plex).  We have an agent on site and host open houses every Saturday.  We have done a lot of advertising and marketing on social and Google ads .  We know our rent rate is at the top end of the range for the area, but not over the top.  We are still in construction on parts of the complex but have 12 units ready and 4 of them are rented.  Our problem is that we are struggling to bring people in to even look at them.  My question is about incentives/ enticements or just biting the bullet and lowering the rent.  We already have washer and dryer included with each unit, granite throughout, stainless appliances.

We have considered things like free wifi or first months rent 1/2 off, but not sure if that is enough to drive interest. We are at the point of considering to lower the rent rate by $100, but this makes our DCR (which is already lower than the bank wants) that much lower..

I am looking for advice on what others have done to drive traffic and convert lookers to tenants.

Thank you in advance !