Hot Springs Investment
405 SPRING Street, Hot Springs, AR 71901
Victorian,Bungalow/Cottage, Other - Hot Springs, AR
Property size:
3,064 SFPrice / SF:
$94/SF- Added:
- May 14, 2026
- Days on Market:
- 9
- Last Refresh:
- May 22 at 5:06 am
Property Features for 405 SPRING Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking
- 4
- Parking features
- None
- Patio and Porch features
- Patio, Porch, Deck
- Exterior features
- Deck, Partially Fenced, Porch, Patio, Covered
- Fencing
- Fenced, Partial
- Standard status
- Active
- Size
- 3,064 SF
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 1268
Utilities
- Heating system
- Central, Electric (Heating), See Remarks (Heating)
- Cooling system
- Multi Units, Window Unit(s)
Building Details
- Year built
- 1950
- Floors in Building
- 2
- Number of units
- 5
- Building materials
- Frame
- Roof type
- Composition, Shingle
- Architectural style
- Bungalow
Listing agent Chris Rix License #00059757 (501) 205-1900
Listing office Rix Realty - Advantage Team Realtors 1010 Central Ave, Hot Springs, AR (501) 205-1900
Listing date May 14, 2026
MLS# 155387
Listing URL
Copyright © 2026 Hot Springs Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Immediate income potential with $53,952 yearly rent from long‑term leases.
- Includes a 4‑plex and a separate 2‑bedroom house, offering diverse rental streams.
- Separately metered units provide ease of management and tenant billing.
- Located near historic downtown Hot Springs, shopping, restaurants, public transportation, and Hot Springs National Park.
- Part of a larger investor portfolio, creating potential for expanded acquisition opportunities.
- Well‑maintained properties with established long‑term tenants.
Overview
This investor opportunity features immediate income potential in Hot Springs. The property at 401 Spring is a well-maintained 2-bedroom, 1-bath home with central heating and air. The property at 405 Spring is a separately metered 4-plex comprised of four 1-bedroom, 1-bath units equipped with mini-split systems. Long-term leases are in place. The yearly rent is $53,952, insurance is estimated at $9000, taxes are $1268, and lawn care is estimated at $1800. Water costs $4080 and is metered separately. The rent for 401 Spring is $1325. The rents for the units at 405 Spring are $786, $700, $820, and $820. Situated in a quiet and peaceful area, this property package offers upside and strong returns for investors. The two properties are considered one parcel. This offering is part of a larger investor portfolio that also includes additional multi-family and commercial properties, creating potential for expanded acquisition opportunities. Most units throughout the portfolio are separately metered and have been well maintained with established long-term tenants already in place. The property is conveniently located near historic downtown Hot Springs, shopping, restaurants, public transportation, and Hot Springs National Park. The property size is 3064 square feet.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$210.1K
NOI $18,908 @ 9.00% cap · cautious / downside scenario
Moderate
$270.1K
NOI $18,908 @ 7.00% cap · market / base-case scenario
Aggressive
$378.2K
NOI $18,908 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $36.8k | $12.00 |
| − Vacancy | −$2.4k | −$0.78 |
| EGI | $34.4k | $11.22 |
| − OpEx | −$15.5k | −$5.05 |
| NOI | $18.9k | $6.17 |
3,064 SF · lease $12.00/SF/yr · vacancy 6.50% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$270.1K
$236.4K – $315.1K
NOI $18,908 @ 7.0% cap · market cap 6.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$560.3K
$490.3K – $653.7K
NOI $39,224 @ 7.0% cap · market cap 13.53%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Single family properties
Location Insight
- Map
- Local Demand
- City
- Hot Springs
- County
- Garland
- State
- Arkansas
- Longitude
- -93.050593
- Latitude
- 34.5114629
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Two properties with income potential near downtown Hot Springs.
Where is this apartment building located?
The property is located at 405 SPRING Street Hot Springs, AR.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: Immediate income potential with $53,952 yearly rent from long‑term leases.; Includes a 4‑plex and a separate 2‑bedroom house, offering diverse rental streams.; Separately metered units provide ease of management and tenant billing.
