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Charming Potential for $25K in Desirable Argenta Neighborhood

ATTENTION: First-time home buyers or Investors! This charming home is so affordable, with a little TLC, an investor could profit $20K in a short amount of time!

See listing on postlets at: http://www.postlets.com/res/4154386

Located in the desirable Argenta neighborhood in historic N. Little Rock, there is demand to live on this street. For investors, that means you will be able to find renters or buyers.

1916 Poplar is located in the Argenta neighborhood which has enjoyed community re-development, situated near lots of retail stores, the new trolley route, the famous Arkansas River with the Arkansas Queen Riverboat and USS Razorback Submarine, the Arkansas Inland Maritime Museum, Sports Hall of Fame, Dickey-Stephens baseball park, North Shore Riverwalk, and much more.

Go to this link (or paste it into your browser) to learn more about this developing area:
http://www.argentadc.org/index.php?option=com_content&task=view...


The Argenta neighborhood is highly desirable due to its location and re-development. Here's an article to reference, and an excerpt below:

http://www.downtownlittlerock.com/content.cfm?StoryID=38

"The neighborhood began to hit its stride in 2000, and now it’s almost impossible to buy property in Argenta. An uninhabitable house that Scott Miller, an Argenta resident and owner of the Baker House bed and breakfast, sold a year and a half ago for $38,000 recently sold for $179,000 after the owners made extensive renovations. “It sold within two weeks,” Miller said. A duplex across from his home on Fifth Street sold in three days. “Nothing stays on the market for more than a week now,” he said.
Courtesy of article published by Arkansas Times, author Janie Ginocchio.

Additionally, there are many ways the state and city help first-time home buyers with grants and loans. For example:

HELP Funds
Through the Federal Home Loan Bank of Dallas, grants up to $5,000 are available to assist first time home buyers with closing costs. These funds are limited and prospective homeowners must be able to qualify for a loan with a pre-designated bank and contribute $500 towards their purchase.

City Grants
Little Rock, North Little Rock and Jacksonville offer down payment and closing costs grants to first time homebuyers who would like to purchase a home in either of the respective cities. Funds are limited and income restrictions may apply. Please contact the perspective city's city hall for additional information.

Loan Program
ADFA's Downpayment Assistance Program
The Arkansas Development Finance Authority has a Downpayment Assistance Program (DPA) for qualified first-time home buyers. The DPA ranges from $1,000 to $6,000 for closing cost assistance. For detailed information, please visit ADFA's web site at http://www.state.ar.us/adfa/.

American Dream Payment Initiative
ADFA will provide ADDI funds in the form of a forgivable loan in an amount up to six percent of the purchase price for down payment and closing costs, not exceeding $10,000. The assistance will be forgiven in equal annual installments over five years, as long as the homebuyer continues to own, occupy, maintain, insure, and pay all taxes on the home. More information can be found at ADFA's web site, http://www.state.ar.us/adfa/.

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