Residential Income Property with Water
For Sale
Under Contract
$219,900
173 C Pebble Beach Place, Hot Springs, AR 71913
Residential, Traditional, Hot Springs, AR
Property Size1,690 SF
Price / SF$130.12
Days on Market57
Property Features for 173 C Pebble Beach Place
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
3
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 3, Bathroom 3, Bonus Room, Bedroom 1
Parking features
Garage
Fireplace
1
Appliances
Free-Standing Stove, Electric Range, Dishwasher
Subdivision
PEBBLE BEACH HPR
Lot features
Level, Zero Lot Line, Cul-de-sac, Resort Property, Golf View, Waterfront
Directions
Highway 171...left on Pebble Beach Place (before you get to main gate)
Standard status
Active Under Contract
Size
1,690 SF
Taxes and HOA fees
Tax Description
BLOCK/LOT:000/00C
Tax Annual Amount
626
HOA Fee
$108 Monthly
Legal Description
BLOCK/LOT:000/00C
Utilities
Utilities
Propane
Water front
1
Amenities
private gated courtyard
covered back deck
attached garage
workshop
bonus room
Building Details
Year built
1996
Floors in Building
2
Flooring type
Carpet, Tile
Roof type
Composition
Architectural style
Other
Listing Agency:
Diamondhead Realty
(501) 262-4803
Listed By:
Kathie Devilbiss · License #SA:00055938
(501) 609-5124
Added: Aug 10
Changed: Sep 28
Last Checked: Oct 5 at 6:06AM
MLS# 26032621
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 1,690-square-foot townhome, built in 1996, offers three bedrooms and two and one-half bathrooms across a practical multi-level layout. The main level includes the primary suite, while the upper floor provides two additional bedrooms, a bonus room, and additional bathroom space. Interior features include tile and carpet flooring, a fireplace, electric range, dishwasher, and propane service. The property also includes an attached garage and an encapsulated workshop for storage or project use.
Outdoor spaces include a gated courtyard and a covered back deck oriented toward water and golf course views. Located at 173 C Pebble Beach Place in Hot Springs, Arkansas, the home combines residential accommodations with outdoor areas and flexible auxiliary space.
Outdoor spaces include a gated courtyard and a covered back deck oriented toward water and golf course views. Located at 173 C Pebble Beach Place in Hot Springs, Arkansas, the home combines residential accommodations with outdoor areas and flexible auxiliary space.
Key Highlights
- 1,690 SF townhome with 3 bedrooms and 2.5 bathrooms
- Water and golf course views from the covered back deck
- Main‑level primary suite with two additional upstairs bedrooms
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
$10,429
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
4.74%
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%
$208,580
$208.6K
Cap Rate 7%
$148,986
$149.0K
Cap Rate 9%
$115,878
$115.9K
Market Conditions
NOI Build-Up for 1,690 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
$20.3K $12.00/SF
− Vacancy
−$1.3K −$0.78/SF
EGI
$19.0K $11.22/SF
− OpEx
−$8.5K −$5.05/SF
NOI
$10.4K $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%
$208,580
Cap Rate 7%
$148,986
Cap Rate 9%
$115,878
Alternative Uses
Best Use
Apartment 5plus
$149.0K
$130.4K – $173.8K
NOI $10,429 @ 7.0% cap · market cap 4.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$309.1K
$270.4K – $360.6K
NOI $21,635 @ 7.0% cap · market cap 9.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
24
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated townhome with a main-level primary suite, private courtyard, covered deck, and attached garage.
Where is this residential income property located?
The property is located at 173 C Pebble Beach Place Hot Springs, AR.
What is the asking price?
The asking price for this property is $219,900.
What are key features of this property?
This property features: 1,690 SF townhome with 3 bedrooms and 2.5 bathrooms; Water and golf course views from the covered back deck; Main‑level primary suite with two additional upstairs bedrooms
