Waterfront Residential Income
For Sale
$1,250,000
5000 Central Avenue, Hot Springs, AR 71913
Residential, Hot Springs, AR
Property Size7,200 SF
Price / SF$173.61
Days on Market8
Property Features for 5000 Central Avenue
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
5
Bathrooms
6
Full bathrooms
4
Half bathrooms
2
Rooms
Great Room, Bedroom 2, Bathroom 1, Bathroom 5, Bathroom 6, Bedroom 1, Bedroom 3, Laundry Room, Bathroom 2, Bathroom 3, Bedroom 4, Bathroom 4, Bedroom 5
Parking features
Assigned, Carport
Patio and Porch features
Deck, Porch, Patio
Exterior features
Patio, Deck, Porch, Outside Storage Area, Inground Pool, Guttering, Boat Dock
Fireplace
1
Appliances
Built-In Stove, Double Oven, Microwave, Electric Range, Dishwasher, Disposal, Indoor Grill, Pantry, Refrigerator-Stays, Bar/Fridge, Wall Oven, Ice Machine, Warming Drawer
Subdivision
Hamilton Pointe HPR Phase III
Lot features
Lake View, Lake Front, Waterfront
Elementary school
Lakeside
Middle school
Lakeside
High school
Lakeside
Directions
7 South/ Central Ave, right into the entrance of Hamilton Pointe to condo on the right (28 & 29)
Standard status
Active
Size
7,200 SF
Taxes and HOA fees
Tax Year
2024
Tax Description
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Tax Annual Amount
9072
HOA Fee
$8,000 Annually
Legal Description
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Utilities
Water front
1
Amenities
boat slips
pool
clubhouse
outdoor kitchen
Building Details
Year built
1987
Floors in Building
2
Flooring type
Carpet, Wood, Tile, Vinyl
Roof type
Composition
Additional Structures
Storage
Listing Agency:
Trademark Real Estate, Inc.
(501) 318-3200
Listed By:
Kim Walker
(501) 844-5949
Added: Aug 26
Last Checked: Sep 2 at 12:06AM
MLS# 26034864
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 condominium at 5000 Central Avenue includes 7,200 square feet arranged across two levels, with five bedrooms and five bathrooms. The interior includes a great room, laundry room, multiple gathering areas, wood, tile, carpet and vinyl flooring, and a fireplace. The kitchen is equipped with a built-in stove, double oven, microwave, electric range, dishwasher, disposal, indoor grill, pantry, refrigerator, bar refrigerator, wall oven, ice machine and warming drawer.
Outdoor features include a patio, deck, porch, outside storage area and an outdoor kitchen. The property also includes boat slips, access to an inground pool and clubhouse, assigned parking, and a carport. Built in 1987, the condominium is located in Hot Springs, Arkansas, in Garland County.
Outdoor features include a patio, deck, porch, outside storage area and an outdoor kitchen. The property also includes boat slips, access to an inground pool and clubhouse, assigned parking, and a carport. Built in 1987, the condominium is located in Hot Springs, Arkansas, in Garland County.
Key Highlights
- 7,200‑square‑foot condominium arranged across two levels
- Five bedrooms and five bathrooms
- Waterfront setting with included boat slips
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
$44,431
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
3.55%
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%
$888,620
$888.6K
Cap Rate 7%
$634,729
$634.7K
Cap Rate 9%
$493,678
$493.7K
Market Conditions
NOI Build-Up for 7,200 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
$86.4K $12.00/SF
− Vacancy
−$5.6K −$0.78/SF
EGI
$80.8K $11.22/SF
− OpEx
−$36.4K −$5.05/SF
NOI
$44.4K $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%
$888,620
Cap Rate 7%
$634,729
Cap Rate 9%
$493,678
Alternative Uses
Best Use
Apartment 5plus
$634.7K
$555.4K – $740.5K
NOI $44,431 @ 7.0% cap · market cap 3.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.32M
$1.15M – $1.54M
NOI $92,172 @ 7.0% cap · market cap 7.37%
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
128
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 - Two-level condominium with extensive living space, multiple bedrooms and baths, boat slips, pool, clubhouse, and outdoor kitchen.
Where is this residential income property located?
The property is located at 5000 Central Avenue Hot Springs, AR.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 7,200‑square‑foot condominium arranged across two levels; Five bedrooms and five bathrooms; Waterfront setting with included boat slips
