We Bought a Run-Down House on 4 Acres West of Little Rock

We just went under contract on a property that I’m genuinely excited about, and it’s a good example of how we look at a deal here in Central Arkansas. It’s a run-down house on acreage just west of Little Rock, and in this episode we walked the property and talked through what makes it work and what we plan to do with it. Here’s the breakdown.

What We Bought

The house is a three-bedroom, roughly 1,300 square feet, with about one and a half to two baths. The bones are in fairly good condition, but it’s an old house that’s never really been cosmetically updated, so it needs a full renovation down to the studs in places. The real draw is the location: it sits on a beautiful piece of land out in the country, just west of Little Rock. You’re only about eight minutes from one of the nicest shopping and restaurant areas in town, but when you’re standing on the property, you genuinely feel like you’re out in the country. For me, that’s an ideal piece of property.

The Bonus: An Extra Lot Next Door

One of the things that made this deal stand out is that it comes with an additional two-acre lot next door. So our plan, at least for right now, is to renovate and sell the existing home, then develop a really nice new construction spec home on the two acres next door. That gives us two ways to create value out of one purchase, which is exactly the kind of flexibility I like to see in a deal.

How We Evaluate a Fixer Like This

When we walked the property, a big part of the conversation was honestly assessing what it needs. Because the whole interior basically needs to be taken back to the studs, it’s actually pretty straightforward for us to estimate the rehab cost. We didn’t find any major rot around the windows, though the floors feel soft in a few spots, particularly in the bathroom. The package HVAC unit outside is old enough that I’d budget for it needing to be replaced, and going back with another package unit usually makes the most sense as long as the ductwork is in good shape.

There’s also a fair amount of cleanup. The land runs all the way back to the top of a ridge, and there are some old sheds and a pump house scattered around that need attention. But that’s the kind of thing that, once it’s cleaned up, makes a property like this really shine. Seeing past the current condition to what it can become is a big part of this business.

The Bigger Picture

Deals like this are why I love what we do. You take a property that most people would drive right past, look at it honestly, and build a plan that creates real value, both by restoring the existing home and by adding new construction on the extra land. It comes back to something I talk about all the time: you have to be willing to take on a project and learn as you go.

At Apex Professional Construction, we handle renovations, new construction, and build-to-rent projects across Central Arkansas. If you’ve got a property you’re trying to figure out, or you want to build something new, give us a call at 501-500-5177 or request a quote. We’d be glad to help you think it through.