Two-Unit Duplex with
For Sale
$399,000
122 havelock Place, Hot Springs, AR 71913
Multi-Family, Traditional, Hot Springs, AR
Property Size3,036 SF
Lot Size1.03 Acres
Price / SF$131.42
Days on Market121
Property Features for 122 havelock Place
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Garage
Patio and Porch features
Deck
Interior features
Washer Connection, Washer-Stays, Dryer Connection-Electric, Dryer-Stays, Fireplace - Woodburning
Exterior features
Partially Fenced, Guttering, Deck
Fencing
Partial
Fireplace
1
Appliances
Free-Standing Stove, Microwave, Gas Range, Electric Range, Dishwasher, Refrigerator-Stays, Free-Standing Stove, Microwave, Gas Range, Electric Range, Dishwasher, Refrigerator-Stays
Subdivision
Hot Springs Unplatted
Lot features
Corner Lot
Directions
From 307 Carpenter Dam Rd, head south on Carpenter Dam Rd toward Central Ave/AR-7. right onto Central Ave, continue to Higdon Ferry Rd. left onto Twin Points Rd, then left onto Burchwood Bay Rd. Turn left onto Havelock Rd - 122 Havelock is on your right.
Standard status
Active
Size
3,036 SF
Lot size
1.03 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PT SW SE
Tax Annual Amount
1536
Legal Description
PT SW SE
Building Details
Year built
1996
Floors in Building
2
Number of units
2
Flooring type
Tile, Carpet - Partial
Roof type
Shingle
Architectural style
Other
Listing Agency:
McGraw Realtors - HS
(501) 881-3331
Listed By:
Shahmarie Afkhami
(501) 762-3497
Added: May 14
Changed: Sep 6
Last Checked: Sep 11 at 3:06PM
MLS# 26020021
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.
Built in 1996, this duplex contains 3,036 square feet across two separate residences on a 1.03-acre lot. Each unit has its own entrance and garage. The upper residence provides two bedrooms, two bathrooms, vaulted ceilings, a wood-burning fireplace, kitchen built-ins, a deck, and a fenced backyard area. The lower residence includes two bedrooms, one bathroom, a full kitchen, built-in shelving, and a laundry room.
Interior features include washer and dryer connections, select appliances, tile flooring, and partial carpeting. Exterior improvements include gutters, a shingle roof, decking, and partial fencing. The property is located in Hot Springs, Arkansas, near Oaklawn, hospitals, shopping, and restaurants.
Interior features include washer and dryer connections, select appliances, tile flooring, and partial carpeting. Exterior improvements include gutters, a shingle roof, decking, and partial fencing. The property is located in Hot Springs, Arkansas, near Oaklawn, hospitals, shopping, and restaurants.
Key Highlights
- Duplex with 3,036 square feet on 1.03 acres
- Two residences with separate entrances and individual garages
- Upper unit includes 2 bedrooms, 2 bathrooms, vaulted ceilings, and a wood‑burning fireplace
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
$20,051
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
5.03%
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%
$401,020
$401.0K
Cap Rate 7%
$286,443
$286.4K
Cap Rate 9%
$222,789
$222.8K
Market Conditions
NOI Build-Up for 3,036 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
$31.0K $10.20/SF
− Vacancy
−$2.3K −$0.77/SF
EGI
$28.6K $9.44/SF
− OpEx
−$8.6K −$2.83/SF
NOI
$20.1K $6.60/SF
Area
Garland County, AR
Vacancy
7.50%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
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%
$401,020
Cap Rate 7%
$286,443
Cap Rate 9%
$222,789
Alternative Uses
Best Use
Multifamily LT 5
$286.4K
$250.6K – $334.2K
NOI $20,051 @ 7.0% cap · market cap 5.03%
Second Best
Apartment 5plus
$267.6K
$234.2K – $312.3K
NOI $18,735 @ 7.0% cap · market cap 4.70%
Theoretical Best
Office A
$555.2K
$485.8K – $647.8K
NOI $38,866 @ 7.0% cap · market cap 9.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
90
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences offer private entrances, individual garages, and distinct living areas on a partially fenced lot.
Where is this duplex located?
The property is located at 122 havelock Place Hot Springs, AR.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Duplex with 3,036 square feet on 1.03 acres; Two residences with separate entrances and individual garages; Upper unit includes 2 bedrooms, 2 bathrooms, vaulted ceilings, and a wood‑burning fireplace
