The real estate market in Little Rock, AR, is indicative of the state's economic growth, selling more properties than before and at higher rates. Two main factors have caused this. First, there has been a real surge in job opportunities within the state; second, there has been an enormous outflow of people from other states relocating to Arkansas for better opportunities. More businesses are springing up, creating more job opportunities, leading more Arkansans to return home due to good employment prospects. Essentially, Little Rock has seen, and will continue to see, an increased interest in real estate investment.
Revitalization in Little Rock, AR
Little Rock has been experiencing revitalization and population growth over the last decade, with neighborhoods like Capital High and Central View thriving. About 10 miles from Little Rock National Airport, each area features new and old homes with high-value land and low taxes.
There are many inexpensive rental options, apartments, and single-family homes for sale in Little Rock. The city offers amenities such as downtown revitalization projects, bike trails, dog parks, nature centers, golf courses, rec centers, historical/cultural attractions, and shopping.
Grand Junction is Little Rock's newest turnkey property neighborhood, and community members couldn't be happier. With new restaurants, shops, and the Arkansas Heart Hospital within walking distance of Little Rock real estate opportunities, it has revitalized a stagnant area. Officials hope this will help restore the area, turning it into Little Rock's first official turnkey neighborhood.
Little Rock, AR, has been experiencing a wave of new real estate investment and revitalization. The city is home to the University of Arkansas, Little Rock Trojans, a Division I college football team. Additionally, Little Rock High School has an award-winning division 6A high school, and Little Rock Central High School is one of the most historically significant high schools in the Little Rock area.
The city also now has a thriving business district. All these are factors in the continuing revitalization of Little Rock, AR.
Current Market in Little Rock
Little Rock, AR, is a seller's market, meaning there are more buyers than homes available. The average list price of homes in Little Rock, AR was $339,900 in August 2021. Compared to $285,000 in the prior year, this is an increase of 19%.
One of the best things about investing in Little Rock turnkey properties is that investors can quickly begin making money from their property. For example, real estate investors can buy real estate property for sale that requires little to no renovations and rent it out. In a best-case scenario, the property comes with a tenant included. This provides real estate investors with an annual return of 1-10%.
When looking for properties to invest in around Little Rock, AR, you must consider current home costs and your rate of return within the current market. In August 2021, the median list price of a single-family home in Little Rock was $339,900, up 6% from last year's median price of $319,700. The median list price of condos or townhomes was $369,000, compared to $175,000 in 2020, up 82% year-over-year.
Why Little Rock, AR?
Little Rock has seen unprecedented population growth, with its number of residents exceeding 200,000 people for the first time in 2020. Because of this, Little Rock has been experiencing a real estate boom of epic proportions and real estate investments are more popular than ever before.
As the largest city in Arkansas, Little Rock is defined by its rich culture and diversity and is characterized by beautiful historical sites such as the William J. Clinton Presidential Library. Little Rock real estate has established itself as one of the best real estate markets in the south, which has been defined by increased growth in the area.
New homes are being constructed in Central Arkansas at nearly double the national average rate, creating ample opportunity for older homes to be considered, and creating an ideal buyer's market for first-time homebuyers looking to purchase lower-priced properties or expand their portfolio into real estate investment opportunities.
Little Rock is home to many companies, including Dillard's, Windstream Communications, and the University of Arkansas for Medical Sciences, who are consistently recruiting new talent. Even through major growth, the city boasts many qualities that make it an attractive place for families and businesses. The city has an extensive library system, including 21 branch libraries and the largest public library in the state.
If you're looking to invest in rental properties, now is a great time. Buying into Little Rock cashflow opportunities can be an excellent way to continue building your wealth with real estate. With the current market and growth projections for this city, investing here will likely only increase your return on investment. Don't forget that there are other factors such as home cost and rate of return worth considering before deciding where or not to buy property. Our team at Memphis CashFlow would love to help you with these decisions and find something perfect for you.
Finding the perfect Little Rock cashflow property to invest in can seem like a daunting task -- but it doesn't have to be. At Memphis Cashflow, we provided you with key points on how best to search for properties and where you should look to know what type of neighborhood is right for you. With just some simple knowledge, you'll find that searching for your next investment in Little Rock, AR will be easier than you imagined.
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