For many it’s a no-brainer to invest in a college town like Fayetteville. For others it takes a little bit of convincing. Bottom line, however, Fayetteville is a small town (population 73,580) that is home to the ever-growing University of Arkansas (Spring 2011 enrollment of almost 22,000).  There will always be a demand for student housing, homes for faculty and staff, alumni rentals, game-day & event rentals, and all those other demographics that love Fayetteville. Historically real estate investors have paid a premium (compared to the rest of northwest Arkansas) to own property near the University, Dickson Street, the downtown square, and the other fantastic amenities in Fayetteville’s core.

Thanks to deflated property values, great loan products like the FHA Kiddie Condo mortage, and the lowest interested rates since…. well, since before I was born…. now is the absolute best time to buy! So, I’ve put together a list of 10 Great investments in this college town. I picked these for a variety of reasons – the proximity to all the things that make Fayetteville great, low prices per square foot, having 2 units, uniqueness, and more. If these pique your interest contact me and I’ll be happy to give you more information. And, of course, you can search the entire MLS database 24/7 on my website. Just click the big outline of the state of Arkansas to the right over there. Here’s those 10 Great Investments as promised:

2108 Garland Ave., #3
$52,200
1 bed/1 bath
Photo & Listing courtesy of Keller Williams Realty NWA
This price is incredible! Updated, wood flooring, easy access to I-540, located on Razorback Transit bus route, community swimming pool.

 
1637 Linda Jo Place
$57,500
2 bed/2 bath
Photo & Listing courtesy of Keller Williams Realty NWA
One half of a duplex with easy access to I-540, located near the bus route & parks.

705 Douglas St., #107
$118,000
1 bed/1 bath
Photo & Listing courtesy of Houses, Inc.
Brand new quality construction less than 1 block from campus (behind the Alpha Omicron Pi house).

628 Mission Blvd.
$189,000
2 bed/1 bath + 1 bed/1 bath apartment
Photo & Listing courtesy of Bassett Mix & Associates
Located at the foot of Mt. Sequoyah, just a short bike ride from downtown through the historic district. Nicely remodeled, 2 units total.
 

315 Rollston Ave., #205
$192,000
2 bed/2 bath
Listing courtesey of Lindsey & Associates
This second-level condo is just a few steps from Dickson Street and just a flight of stairs away from Theo’s, a restaurant popular to all.
 

161 Hill Ave.
$239,000
2 bed/2 bath + garage apartment with 1 bed/1 bath & bonus room
Photo & Listing courtesy of Alexander, Merry-ship & Alt Real Estate Group
Walking distance from everything you’ll find desirable! This is the type of property that will Keep Fayetteville Funky for years to come.
 

25 Gregg Ave.
$260,000
3 bed/3 bath
Photo & Listing courtesy of Crye-Leike Realtors
Brand new sustainable, clean air home. Adjacent to the Frisco Trail and very close to campus.
 

600 Meadow St., #202
$282,040
2 bed/2 bath
Listing courtesy of Metro Marketing
Condo right in the heart of the Dickson Street entertainment district yet with a sense of seclusion.
 

632 Dickson Street
$420,000
2 bed/1.5 bath
Listing courtsey of Bradley Real Estate
One of the first condo conversions in Fayetteville! Practically overlooks the Old Main Lawn and situated directly on Dickson Street! Two parking spaces convey with this unit.

15 Block Ave., #204
$685,000
2 bed/2 bath
Listing courtesy of Crye-Leike Realtors
The Campbell-Bell Building is one of Fayetteville’s most exquisite sites! It overlooks the historic downtown square which puts the Fayetteville Farmers’ Market at your doorstep.

Almost all of these would make great student housing or your own private game-day retreat. They’re all walking distance to the UA and downtown or located on the Razorback Transit bus route. The condos and townhouses are very low maintenance – you can virtually lock them up without worry until your next visit. Those with two units are great for obvious reasons – rent one for income and use the other for yourself. Or rent both. I included those with higher price points because they would make great long-term investments – rent them out now while securing the property for future use or resale. There’s a variety of construction from “green” new construction to historic re-purposed projects. Not exactly what you’re looking for? Want more info on how Kiddie Condo loans work? Questions about downtown values? I’m here to help. Just contact me today.

Let me introduce you to the FHA “Kiddie Condo” loan program (this is simply a nickname – the program is not just for kids or condos). In a nutshell, this is an under-used mortgage program that allows you, as a parent, to help your college student qualify for their first home loan. There are several benefits to this program:

• Single-family detached homes, townhouses, and other residential properties may qualify not just condos
• Students can use their parent’s income/assets to help qualify for the loan
• Low down payment (typically 3% rather than 20% like most investment property loans)
• Lower interest rate (FHA rates rather than investment, commercial, or conventional bank rates)
• Your child’s credit rating is positively impacted when the mortgage is paid on time
• Tax deductions for the interest payments (consult your tax advisor for details)
• Extra bedrooms can be rented to friends or other students to help pay the mortgage or bills
• Best of all, no throwing away money on rent for 2-6 years!

For more information, for a lender recommendation, or to start looking for properties contact me today!

#411  Har-Ber High School (Springdale)
#448  Fayetteville High School
#589  Bentoville High School
#1148  Rogers High School
#1430  Springdale High School
#1574  Pea Ridge High School

For more northwest Arkansas ”best of” lists please visit my Making the List blog post.

8 Terrific Towns for History Lovers – Fayetteville – Where To Retire Magazine
10 Coolest Small Towns in America #4 of 10 – Eureka Springs – BudgetTravel
10 U.S. Cities With the Cheapest Cost of Living #8 – Fayetteville – Kiplinger’s
20 Best Small Towns in America #14 of 20 – Siloam Springs – Smithsonian Magazine
America’s Best High Schools (Multiple Rankings) – Newsweek
American’s Favorite Farmers’ Market #5 of 20 – Fayetteville Farmers’ Market
Best American Colleges #132 – University of Arkansas – U.S. News & World Report
Best Cities to Live, Work, and Play #7 of 10 – Fayetteville – Kiplinger’s
Best Healthy Places to Retire – Bella Vista – US News and World Report
Best Places For Business And Careers #15 of 200 – Fayetteville – Forbes
Best Places to Launch #13 of 50 – Fayetteville – CNNMoney
Best Places to Live  #10 of 100 – Rogers – CNNMoney
Best Places to Live and Launch #82 of 100 – Fayetteville – CNNMoney
Best Places to Raise Kids – Centerton – Businessweek
Best Places to Retire  #15 – Fayetteville – CNNMoney
Best Places to Retire Eureka Springs – Wall Street Journal
Best Value Colleges for 2010 University of Arkansas – USA Today
Community Certified Wildlife Habitat  1st in Arkansas – City of Fayetteville
Hottest Travel Destinations of 2012  Bentonville – Trave+Leisure
Library of the Year 2005  Fayetteville Public Library – LibraryJournal.com
Top 10 Cities for Affordable Vacations – Rogers – Livability.com
Top 25 Small Cities Eureka Springs – AmericanStyle Magazine
Top College Sports Towns #6 of 10 – Fayetteville – Forbes
Top Small College Towns for Investment #5 of 10 – Fayetteville – NuWire Investor
Top Value Towns for Retirees #3 of 10 – Fayetteville – MarketWatch

For more information about our communities, schools, industries, events, or other incredible opportunities here in northwest Arkansas contact me anytime.

Tuesdays & Thursdays through October 29th, from 7am-1pm, Fayetteville Downtown Square
Thursday Evenings through October 29th, from 4-7pm, the Mill District
Saturdays through November 21st, from 7am-1pm, Fayetteville Downtown Square