Two-Bedroom Residential Income
For Sale
$149,900
472 Catherine Park Road, Hot Springs, AR 71913
CONDOS - Hot Springs, AR
Property Size1,015 SF
Price / SF$147.68
Days on Market217
Property Features for 472 Catherine Park Road
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 1
Parking features
Assigned, Carport
Patio and Porch features
Deck
Interior features
Dryer Connection-Electric, Water Heater-Electric, Breakfast Bar, Kit Counter- Granite Slab
Exterior features
Deck
Fireplace
1
Appliances
Electric Range, Dishwasher, Refrigerator-Stays
Subdivision
DIAMONDHEAD
Lot features
Zero Lot Line, Lake View
Elementary school
Lakeside
Middle school
Lakeside
High school
Lakeside
Directions
From Hot Springs...Hwy290...left on Hwy 171 (Catherine Park Rd) Condo's are on the right before Diamondhead entrance.
Standard status
Active
Size
1,015 SF
Taxes and HOA fees
Tax Description
Unit Q & R Diamondhead Manor
Tax Annual Amount
546
HOA Fee
$108 Monthly
Legal Description
Unit Q & R Diamondhead Manor
Amenities
deck
wood burning fireplace
golf course
fishing
pickleball
tennis
basketball
Building Details
Year built
1998
Floors in Building
1
Flooring type
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: Jan 15
Changed: Aug 10
Last Checked: Aug 20 at 9:06PM
MLS# 26002376
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 1,015-square-foot upper-level residential income property in Hot Springs includes two bedrooms and two bathrooms. The interior has been remodeled with granite countertops and tile flooring throughout, while the living area features a wood-burning fireplace and space for dining. An electric range, dishwasher, refrigerator, breakfast bar, and electric water heater are included. The second bedroom and bathroom have a separate exterior entrance, creating an option for independent rental use. A deck extends the living space outdoors, and assigned carport parking is provided.
The property overlooks Diamondhead community fishing ponds and a golf course. Community amenities include golfing, fishing, pickleball, tennis, basketball, hiking, clubs, and other activities. Lake Catherine State Park is less than 1 mile away. Built in 1998, the property also has a composition roof that is 2 years old and heat and air that is 5 years old.
The property overlooks Diamondhead community fishing ponds and a golf course. Community amenities include golfing, fishing, pickleball, tennis, basketball, hiking, clubs, and other activities. Lake Catherine State Park is less than 1 mile away. Built in 1998, the property also has a composition roof that is 2 years old and heat and air that is 5 years old.
Key Highlights
- 1,015‑square‑foot upper‑level property with 2 bedrooms and 2 bathrooms
- Separate exterior entrance for the second bedroom and bathroom
- Remodeled interior with granite countertops and tile flooring throughout
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
$6,264
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
4.18%
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%
$125,280
$125.3K
Cap Rate 7%
$89,486
$89.5K
Cap Rate 9%
$69,600
$69.6K
Market Conditions
NOI Build-Up for 1,015 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
$12.2K $12.00/SF
− Vacancy
−$792 −$0.78/SF
EGI
$11.4K $11.22/SF
− OpEx
−$5.1K −$5.05/SF
NOI
$6.3K $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%
$125,280
Cap Rate 7%
$89,486
Cap Rate 9%
$69,600
Alternative Uses
Best Use
Apartment 5plus
$89.5K
$78.3K – $104.4K
NOI $6,264 @ 7.0% cap · market cap 4.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$185.6K
$162.4K – $216.6K
NOI $12,994 @ 7.0% cap · market cap 8.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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 - Remodeled upper-level residence with a deck, fireplace, and a separately accessible bedroom and bath for rental flexibility.
Where is this residential income property located?
The property is located at 472 Catherine Park Road Hot Springs, AR.
What is the asking price?
The asking price for this property is $149,900.
What are key features of this property?
This property features: 1,015‑square‑foot upper‑level property with 2 bedrooms and 2 bathrooms; Separate exterior entrance for the second bedroom and bathroom; Remodeled interior with granite countertops and tile flooring throughout
