Two-Bedroom Residential Income
New
For Sale
$195,000
203 Stearns Point, Hot Springs, AR 71913
CONDOS - Hot Springs, AR
Property Size1,134 SF
Price / SF$171.96
Days on Market3
Property Features for 203 Stearns Point
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 2, Bathroom 1, Bathroom 2
Patio and Porch features
Deck, Porch
Exterior features
Deck, Porch, Sport Court
Fireplace
1
Appliances
Free-Standing Stove, Microwave, Electric Range, Dishwasher, Refrigerator-Stays
Subdivision
HAMILTON HARBOR HPR
Lot features
Level, Down Slope
Directions
From HSBOR: Left on Ouachita, continue onto W. Grand Ave, left on Summer, right on Albert Pike, left on Airport Rd, right on Weston, left onto Stearns Pt.
Standard status
Active
Size
1,134 SF
Taxes and HOA fees
Tax Description
APT E-6
Tax Annual Amount
1406
HOA Fee
$259 Annually
Legal Description
APT E-6
Amenities
pool
basketball courts
pickleball courts
Building Details
Year built
1983
Floors in Building
3
Flooring type
Tile, Carpet
Roof type
Shingle
Architectural style
Other
Listing Agency:
The Goff Group Real Estate Company
(501) 525-0908
Listed By:
Jameson VanDee
(501) 525-0908
Added: Aug 18
Last Checked: Aug 20 at 12:06PM
MLS# 26033741
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 residential income property is a two-bedroom, two-bathroom residence with 1,134 square feet of interior space. Built in 1983, the home includes a fireplace, deck, porch, shingle roof, tile and carpet flooring, and a kitchen equipped with a free-standing stove, microwave, electric range, dishwasher, and refrigerator. The property is identified as a condominium in Hot Springs, Arkansas.
Community amenities include a pool, basketball courts, and pickleball courts. The residence also provides access to outdoor areas through its deck and porch, with water access identified as part of the surrounding setting.
Community amenities include a pool, basketball courts, and pickleball courts. The residence also provides access to outdoor areas through its deck and porch, with water access identified as part of the surrounding setting.
Key Highlights
- 1,134‑square‑foot two‑bedroom, two‑bathroom residence
- Built in 1983 with fireplace and shingle roof
- Deck and porch included
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
$6,998
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
3.59%
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%
$139,960
$140.0K
Cap Rate 7%
$99,971
$100.0K
Cap Rate 9%
$77,756
$77.8K
Market Conditions
NOI Build-Up for 1,134 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
$13.6K $12.00/SF
− Vacancy
−$885 −$0.78/SF
EGI
$12.7K $11.22/SF
− OpEx
−$5.7K −$5.05/SF
NOI
$7.0K $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%
$139,960
Cap Rate 7%
$99,971
Cap Rate 9%
$77,756
Alternative Uses
Best Use
Apartment 5plus
$100.0K
$87.5K – $116.6K
NOI $6,998 @ 7.0% cap · market cap 3.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$207.4K
$181.5K – $242.0K
NOI $14,517 @ 7.0% cap · market cap 7.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
56
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 - Condominium-style residence with shared recreation amenities and convenient access to the water.
Where is this residential income property located?
The property is located at 203 Stearns Point Hot Springs, AR.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: 1,134‑square‑foot two‑bedroom, two‑bathroom residence; Built in 1983 with fireplace and shingle roof; Deck and porch included
