Residential Income Property with
For Sale
Under Contract
$150,000
109 Indian Hills Street, Hot Springs, AR 71913
Residential, Traditional, Hot Springs, AR
Property Size1,350 SF
Price / SF$111.11
Days on Market52
Property Features for 109 Indian Hills Street
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 2, Bathroom 1, Bedroom 1, Laundry Room
Parking features
Assigned
Fireplace
1
Appliances
Microwave, Dishwasher, Disposal
Subdivision
OAKLAWN VILLAGE EAST HPR
Lot features
Level
Directions
Central to Carl Dr to Indian Hills
Standard status
Active Under Contract
Size
1,350 SF
Taxes and HOA fees
Tax Description
LOT C11 OAKLAWN VILLAGE EAST
Tax Annual Amount
711
HOA Fee
$280 Monthly
Legal Description
LOT C11 OAKLAWN VILLAGE EAST
Amenities
electric heating fireplaces
fenced-in patio courtyard
back deck
Building Details
Year built
1987
Floors in Building
1
Flooring type
Tile, Wood
Roof type
Shingle
Architectural style
Other
Listing Agency:
Cook and Company
(501) 580-2439
Listed By:
Lance Cook · License #SA00087745
(501) 516-4036
Added: Aug 15
Changed: Sep 28
Last Checked: Oct 5 at 6:06AM
MLS# 26033438
Copyright © 2026 Cooperative Arkansas Realtors Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,350-square-foot condominium offers two bedrooms, two bathrooms, and a broad combined living and dining area. The eat-in kitchen includes pantry cabinetry, an electric cooktop, microwave, dishwasher, and disposal. Wood and tile flooring, two electric fireplaces, a laundry room, and assigned parking add practical features. A new shingle roof, fenced patio courtyard, courtyard storage closet, and rear deck with a view are included. The washer, dryer, and refrigerator convey with the property.
The residence is part of a 30-unit complex that adjoins a greenbelt and is situated in a 55+ community. Central Avenue shopping, CHI St. Vincent Hospital, restaurants, Oaklawn Racing and Casino, and the Hot Springs Creek Greenway Trail are identified nearby. HOA services include water, trash pickup, exterior insurance, groundskeeping, and leaf blowing. Pets are permitted.
The residence is part of a 30-unit complex that adjoins a greenbelt and is situated in a 55+ community. Central Avenue shopping, CHI St. Vincent Hospital, restaurants, Oaklawn Racing and Casino, and the Hot Springs Creek Greenway Trail are identified nearby. HOA services include water, trash pickup, exterior insurance, groundskeeping, and leaf blowing. Pets are permitted.
Key Highlights
- 1,350‑square‑foot condominium with 2 bedrooms and 2 bathrooms
- Part of a 30‑unit complex backing up to a greenbelt
- Fenced patio courtyard, rear deck, and dedicated courtyard storage closet
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$8,331
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.55%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$166,620
$166.6K
Cap Rate 7%
$119,014
$119.0K
Cap Rate 9%
$92,567
$92.6K
Market Conditions
NOI Build-Up for 1,350 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$16.2K $12.00/SF
− Vacancy
−$1.1K −$0.78/SF
EGI
$15.1K $11.22/SF
− OpEx
−$6.8K −$5.05/SF
NOI
$8.3K $6.17/SF
Area
Garland County, AR
Vacancy
6.50%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$166,620
Cap Rate 7%
$119,014
Cap Rate 9%
$92,567
Alternative Uses
Best Use
Apartment 5plus
$119.0K
$104.1K – $138.9K
NOI $8,331 @ 7.0% cap · market cap 5.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$246.9K
$216.0K – $288.0K
NOI $17,282 @ 7.0% cap · market cap 11.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
568
Businesses Nearby
Explore this area
Business Placement
Demographics for 71913, AR
46,801
Population
25,441
Households
1.8
Avg Household Size
44
Median Age
28%
College-Educated
91%
High-School Grad
134.2 sq mi
ZIP Area
349
Density / Sq Mi
$55,367
Median Household Income
$32,746
Median Earnings
$970
Median Rent
$179,200
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom, two-bath condo with private outdoor areas, assigned parking, and updated roof improvements.
Where is this residential income property located?
The property is located at 109 Indian Hills Street Hot Springs, AR.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: 1,350‑square‑foot condominium with 2 bedrooms and 2 bathrooms; Part of a 30‑unit complex backing up to a greenbelt; Fenced patio courtyard, rear deck, and dedicated courtyard storage closet
