Little Rock - up and coming neighborhoods for an investment and a place to stay? (Summit: real estate)

[sheena12]

Just got off the phone with my "little bro" and we got to scheming a bit.

We are interested in buying a duplex or a house with an apartment in it. That way we could rent out half of it, and I could avoid the horrible PA winters and have a place to stay.

My brother says that there are some areas with beautiful older homes. He couldn't think of the name of the neighborhood - or if it had a name.
He said I should look North 630 and around 12th St.

Any recommendations? Planing a trip in June!

[thewizard16]

Originally Posted by sheena12

Just got off the phone with my "little bro" and we got to scheming a bit.

We are interested in buying a duplex or a house with an apartment in it. That way we could rent out half of it, and I could avoid the horrible PA winters and have a place to stay.

My brother says that there are some areas with beautiful older homes. He couldn't think of the name of the neighborhood - or if it had a name.
He said I should look North 630 and around 12th St.

Any recommendations? Planing a trip in June!

It really depends on what kind of atmosphere you're looking for, price range, and what stage of "up and coming" you're considering.

Hillcrest and the Heights are full of nice older homes, some of which with apartments or possibly duplexes, but due to demand/appeal the area is comparably expensive and most "affordable" places need a lot of work to be renovated and brought up to the level of the other houses in the area. Still, if you're interested in fixing up a property, Hillcrest/Heights is a good place to consider since the values are high for renovated or restored homes. The actual Hillcrest and Heights town centers are very active and desirable places to go out for shopping, dinner, and drinks and Hillcrest has a pretty active owner's/residents association that promotes neighborhood activities, beautification, etc.

Capitol View/Stift's Station is very similar to Hillcrest in a lot of ways except that as a whole, it hasn't bounced back as fast. It does border the Hillcrest neighborhoods along Markham so it's easy to compare these areas. There are some beautiful homes in need of some work and some that people have already brought back, but if you like the Hillcrest atmosphere when you visit but don't like the price, Capitol View/Stift's Station is definitely worth a look for an investment property. I believe much of what your brother may be referring to as north of 630 investment properties are covered in this area.

The Quapaw Quarter, which generally includes the Governor's Mansion/South Main/MacArthur Park areas has some stunning older homes and is a pretty desirable area overall as well. This is where you'll find some of the classic southern city mansions and the houses that wanted to be near those, as well as the older businesses and apartment buildings closest to downtown Little Rock. The Quapaw Quarter has a really nice atmosphere (in my opinion) in a lot of places and has a truly excellent owners/residents association that promotes historic preservation and restoration, as well as other activities and benefits to promote the historic nature of the neighborhoods. Prices vary a lot and neighborhoods vary as well, but I think this is one of the most under-appreciated historic areas in Little Rock.

The Central High district is a bit rough around the edges compared to most of the others, but is also home to some of the best examples of historic four-square homes. It has recently started the bounce back thanks to a local baptist college's investment in the area around it and the investments of private owners interested in saving some of these historic homes, but it still has a mixed reputation. There is ripe opportunity for investment in this neighborhood and the houses that have already been bought and restored are very inspiring. This neighborhood may also be more house/apartment combo friendly than some of the others, particularly for the price, but most of the cheaper properties are going to need work. Still though, if I were buying a property and interested in owning an older home, I'd strongly consider some of the Central High neighborhoods.

There are also a lot of places south of 630 not covered by the neighborhoods I mentioned that may be interesting, but some of the neighborhoods are pretty gritty so their potential as an investment is less of a sure thing. There are some places near Fair Park and near University that have done well for themselves due to owners banding together and restoring their neighborhoods that may be interesting, but they're generally not as old as some of the others. The areas closer to the river are also normally pretty nice and have some very interesting homes and neighborhoods that hold their value well, but also aren't as old. The same goes for Midtown. West Little Rock is mostly newer (80s and up) and generic, but its values are pretty stable.

I hope that helps a little. There's a lot to see in Little Rock when it comes to historic neighborhoods that are worth investing or living in!

[sheena12]

I LOVE four square homes! Pretty hi tolerance for mid range up and coming.

Also heard about an area near UALR.

Once the hipsters come in, it's time to move...

(only kidding)

[thewizard16]

Originally Posted by sheena12

I LOVE four square homes! Pretty hi tolerance for mid range up and coming.

Also heard about an area near UALR.

Once the hipsters come in, it's time to move...

(only kidding)

Alright, you definitely need to check out the Quapaw Quarter and Central High neighborhoods then! The Quapaw Quarter, Little Rock, Arkansas | Best Old House Neighborhoods 2012: The South | Photos | Home & Real Estate | This Old House

There's also a really good article about American Foursquare architecture in the Central High Neighborhood, I believe highlighting South Summit Street, and a group of homeowners there that had restored several homes and were trying to save up enough to take on their neighboring homes as well, but I cannot find it right now. I wish I could remember the magazine that printed it, it is proving impossible to find on google.