Residential Duplex with Two Upgraded
For Sale
$200,000
1818 & 1820 Hobson Avenue, Hot Springs, AR 71913
MULTI_FAMILY - Hot Springs, AR
Property Size2,104 SF
Lot Size0.24 Acres
Price / SF$95.06
Days on Market88
Property Features for 1818 & 1820 Hobson Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Patio and Porch features
Porch
Interior features
Washer Connection, Dryer Connection-Electric, Hot Water Heater-Electric, Fan - Ceiling
Exterior features
Porch, Wheelchair Accessible
Accessibility
Accessible Approach with Ramp
Appliances
Free-Standing Stove, Free-Standing Stove
Subdivision
Woodland
Lot features
Level, Corner Lot, National Forest Bndaries
Directions
Central Ave to Grand Ave to Hobson, corner of Mason St
Standard status
Active
Size
2,104 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Description
BLK 6 LOT PT 4
Legal Description
BLK 6 LOT PT 4
Building Details
Year built
1956
Floors in Building
1
Number of units
2
Flooring type
Wood
Roof type
Composition
Architectural style
Bungalow
Listing Agency:
McGraw Realtors - HSV
(501) 922-0707
Listed By:
Sharon Tremor
(501) 538-3885
Added: May 12
Changed: Jul 8
Last Checked: Aug 7 at 1:06PM
MLS# 26019184
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 property includes two single-family homes sold together on one tax roll. The homes feature a mix of 2-bedroom/1-bath and 3-bedroom/2-bath floorplans, and the improvements noted include new flooring, new windows, and appliance and kitchen and bath upgrades. The listing also states an all-electric conversion for the property.
The homes are situated on a corner lot in a residential neighborhood. The area is described as being near downtown amenities and retail, with access to bus route and the bypass.
The property is listed as a combined total of 2,104 square feet across both homes, on a 0.24-acre lot.
The homes are situated on a corner lot in a residential neighborhood. The area is described as being near downtown amenities and retail, with access to bus route and the bypass.
The property is listed as a combined total of 2,104 square feet across both homes, on a 0.24-acre lot.
Key Highlights
- Two single‑family homes on one tax roll with total income over $2,100/month currently
- 10% cap rate per public remarks
- Home 1: 2 bed / 1 bath bungalow (891 SF)
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
$13,896
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
6.95%
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%
$277,920
$277.9K
Cap Rate 7%
$198,514
$198.5K
Cap Rate 9%
$154,400
$154.4K
Market Conditions
NOI Build-Up for 2,104 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
$21.5K $10.20/SF
− Vacancy
−$1.6K −$0.77/SF
EGI
$19.9K $9.44/SF
− OpEx
−$6.0K −$2.83/SF
NOI
$13.9K $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%
$277,920
Cap Rate 7%
$198,514
Cap Rate 9%
$154,400
Alternative Uses
Best Use
Multifamily LT 5
$198.5K
$173.7K – $231.6K
NOI $13,896 @ 7.0% cap · market cap 6.95%
Second Best
Apartment 5plus
$185.5K
$162.3K – $216.4K
NOI $12,984 @ 7.0% cap · market cap 6.49%
Theoretical Best
Office A
$384.8K
$336.7K – $448.9K
NOI $26,935 @ 7.0% cap · market cap 13.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
372
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - For sale: two single-family homes on one tax roll, offering 2- and 3-bedroom layouts with recent interior and window upgrades.
Where is this duplex located?
The property is located at 1818 & 1820 Hobson Avenue Hot Springs, AR.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: Two single‑family homes on one tax roll with total income over $2,100/month currently; 10% cap rate per public remarks; Home 1: 2 bed / 1 bath bungalow (891 SF)
