If you would like to see the most up to date list of homes in this price range feel free to email at CodyBurnettRealtor@gmail.com or call me at 479-640-8375.
Featured Property 1808 South 21st Sreet, Rogers, AR.It is actually priced at $102,500, but close enough to $100,000 to make the list…especially, since it is my listing.
This home is a 2224 sqft, 3 bedroom, 2 bathroom home, with a two car garage. This home has been painted and has new carpet. It is located right in town near the Promenade Mall and close to all things. It is owned by Arvest Bank and is priced extremely well.
The Public Remarks in MLS read as follows: What a DEAL!! 3 bed,2.5 bath,2 car, established neighborhood,close to Pinnacle Mall. Great curb appeal, all brick, sunroom,sky lights,big brick fireplace w/ sitting hearth,good size bedrms,new paint & carpet,storage shed, fenced back yard, near city park ARVEST EMPLOYEES, DIRECTORS, AND THEIR FAMILY MEMBERS ARE INELIGIBLE TO PURCHASE ARVEST’S BANK OWNED PROPERTIES.
A home priced at $100,000 or less will generally make a profitable investment property. For more information read my post titled “It Is A Great Time To Own A Rental Property In Northwest Arkansas.” Take this home at 1808 South 21st as an example. It is a 3 bedroom, 2 bath home, and is 2224 sqft. If purchased for $100,000 with an FHA loan, which is 3.5% down payment, assuming 4% interest rate, $1532 a year in taxes, and $600 a year in insurance, the payment is roughly $600 a year with PITI (principal, interest, taxes, and insurance). This same size home with 3 beds and 2 baths will rent for around $1000 a month. That is a $400 a month spread between the Buyer’s payment and the rental income it creates. Now the Buyer has $4800 a year cash flow to apply toward principal. That would pay this home off in less than 12 years.
I understand that there will be wear and tear on the home and water heaters to replace and roofs to replace etc, but even if it takes 20 years to pay off this home, you would still have a home you paid $100,000 for that is worth more like $200,000 in 20 years. Then you also have a income stream that willl adjust over time for inflation. The best part is your initial investment was $3500. If you were to put more money down when you bought the home these numbers would be that much better.
If you would like to see any home on this list call me at 479-640-8375 or email me at CodyBurnettRealtor@gmail.com.