Updated Residential Income
For Sale
Under Contract
$227,000
500 Pakis Street, Hot Springs, AR 71913
Residential, Garden, Hot Springs, AR
Property Size1,300 SF
Price / SF$174.62
Days on Market38
Property Features for 500 Pakis Street
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 1, Bathroom 2, Laundry Room, Bedroom 2
Parking features
Carport
Patio and Porch features
Patio
Interior features
Washer Connection, Dryer Connection-Electric, Window Treatments, Walk-In Closet(s), Walk-in Shower, Kit Counter- Granite Slab
Exterior features
Patio, Fully Fenced
Fencing
Full
Appliances
Free-Standing Stove, Microwave, Dishwasher
Subdivision
OAKS HPR
Lot features
In Subdivision
Directions
Leave the Board of Realtors and head toward Central Avenue (AR-7). Turn left onto Central Avenue and continue south. Turn right onto Pakis Street. Continue on Pakis Street to 500 Pakis St . Take first right, condo is on the right
Standard status
Active Under Contract
Size
1,300 SF
Taxes and HOA fees
Tax Description
Block 001 Lot 011A Oaks HPR
Tax Annual Amount
716
HOA Fee
$215 Monthly
Legal Description
Block 001 Lot 011A Oaks HPR
Amenities
enclosed porch
Building Details
Year built
1999
Floors in Building
1
Flooring type
Vinyl, Tile
Roof type
Composition
Architectural style
Other
Listing Agency:
Lax Realty & Vacation Rentals
(501) 844-5622
Listed By:
Kaitlyn Glisson
(501) 282-1208
Added: Aug 31
Changed: Oct 5
Last Checked: Oct 7 at 8:06AM
MLS# 26035540
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 1,300-square-foot condominium in The Oaks offers two bedrooms and two bathrooms within a low-maintenance residential setting. Interior improvements include an updated primary bathroom, new windows, a new water heater, and a 2022 HVAC system. The enclosed porch is heated and cooled for additional year-round living space. Granite-slab kitchen counters, a walk-in closet, walk-in shower, tile and vinyl flooring, and washer and electric dryer connections add practical functionality. Appliances include a free-standing stove, microwave, and dishwasher.
The property is located in Hot Springs, Arkansas, within a 55+ community and near shopping, dining, and medical facilities. Exterior features include a patio, full fencing, a composition roof, and a carport. Built in 1999, the condominium also includes window treatments and a fully fenced outdoor area.
The property is located in Hot Springs, Arkansas, within a 55+ community and near shopping, dining, and medical facilities. Exterior features include a patio, full fencing, a composition roof, and a carport. Built in 1999, the condominium also includes window treatments and a fully fenced outdoor area.
Key Highlights
- 1,300 square feet with two bedrooms and two bathrooms
- Located in The Oaks, a 55+ community in Hot Springs
- Updated primary bathroom, new windows, and new water heater
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,022
Cap Rate
3.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$160,440
$160.4K
Cap Rate 7%
$114,600
$114.6K
Cap Rate 9%
$89,133
$89.1K
Market Conditions
NOI Build-Up for 1,300 SF
Gross rent
$15.6K $12.00/SF
− Vacancy
−$1.0K −$0.78/SF
EGI
$14.6K $11.22/SF
− OpEx
−$6.6K −$5.05/SF
NOI
$8.0K $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 Rate 5%
$160,440
Cap Rate 7%
$114,600
Cap Rate 9%
$89,133
Alternative Uses
Best Use
Apartment 5plus
$114.6K
$100.3K – $133.7K
NOI $8,022 @ 7.0% cap · market cap 3.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$237.7K
$208.0K – $277.4K
NOI $16,642 @ 7.0% cap · market cap 7.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
506
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom condominium in The Oaks, a 55+ community near shopping, dining, and medical facilities.
Where is this residential income property located?
The property is located at 500 Pakis Street Hot Springs, AR.
What is the asking price?
The asking price for this property is $227,000.
What are key features of this property?
This property features: 1,300 square feet with two bedrooms and two bathrooms; Located in The Oaks, a 55+ community in Hot Springs; Updated primary bathroom, new windows, and new water heater
