Furnished Residential Income
For Sale
$519,900
620 Grand Point Drive, Hot Springs, AR 71901
Residential, Townhouse, Hot Springs, AR
Property Size2,393 SF
Price / SF$217.26
Days on Market218
Property Features for 620 Grand Point Drive
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
3
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 1, Bedroom 3, Bedroom 2, Bathroom 2, Bathroom 3, Bathroom 1
Patio and Porch features
Deck
Interior features
Washer Connection, Washer-Stays, Dryer Connection-Electric, Dryer-Stays, Window Treatments, Walk-In Closet(s), Ceiling Fan(s), Walk-in Shower, Breakfast Bar, Furnished, Kit Counter- Granite Slab
Exterior features
Deck
Appliances
Free-Standing Stove, Microwave, Electric Range, Dishwasher, Disposal, Refrigerator-Stays, Ice Maker Connection
Subdivision
Lighthouse Point HPR
Lot features
Lake Front, Down Slope
Elementary school
Lakeside
Middle school
Lakeside
High school
Lakeside
Directions
Carpenter Dam Rd (Exit 7) through the stop light. Right on Grand Point Drive. Approximately 1.2 miles. Lighthouse Point is at the top of the hill on the right. Condo is on the second level, closest to the water.
Standard status
Active
Size
2,393 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
Lot K, Block 2, of HPR subdivi
Tax Annual Amount
3214
HOA Fee
$299 Monthly
Legal Description
Lot K, Block 2, of HPR subdivi
Utilities
Water front
1
Amenities
boat slip
gated community
Building Details
Year built
2006
Floors in Building
2
Flooring type
Vinyl
Roof type
Composition
Architectural style
Other
Listing Agency:
RPM Group
(501) 664-7807
Listed By:
Andy Newberg · License #AR:SA00054600
(501) 519-1098
Added: Mar 1
Changed: Oct 5
Last Checked: Oct 5 at 6:06PM
MLS# 26009986
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.
Set along the waterfront in Lighthouse Point HPR, this furnished residential property offers 2,393 square feet, three bedrooms and 2.5 bathrooms. The main living area and primary suite are upstairs, while two additional bedrooms are on the lower level. Separate entrances serve each level, and a deck provides outdoor space. The home was built in 2006.
The gated community is on Lake Hamilton, and the property includes a 10' x 30' boat slip. Updates completed in 2021 include fresh paint, luxury vinyl-plank flooring, granite countertops and replacement windows in the primary bedroom. Furnishings are included, along with appliances such as a stove, microwave, dishwasher and refrigerator.
The gated community is on Lake Hamilton, and the property includes a 10' x 30' boat slip. Updates completed in 2021 include fresh paint, luxury vinyl-plank flooring, granite countertops and replacement windows in the primary bedroom. Furnishings are included, along with appliances such as a stove, microwave, dishwasher and refrigerator.
Key Highlights
- 2,393‑square‑foot furnished residence with 3 bedrooms and 2.5 bathrooms
- 10' x 30' boat slip on Lake Hamilton
- Separate entrances for the upper and lower levels
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,767
Cap Rate
2.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$295,340
$295.3K
Cap Rate 7%
$210,957
$211.0K
Cap Rate 9%
$164,078
$164.1K
Market Conditions
NOI Build-Up for 2,393 SF
Gross rent
$28.7K $12.00/SF
− Vacancy
−$1.9K −$0.78/SF
EGI
$26.8K $11.22/SF
− OpEx
−$12.1K −$5.05/SF
NOI
$14.8K $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%
$295,340
Cap Rate 7%
$210,957
Cap Rate 9%
$164,078
Alternative Uses
Best Use
Apartment 5plus
$211.0K
$184.6K – $246.1K
NOI $14,767 @ 7.0% cap · market cap 2.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$437.6K
$382.9K – $510.6K
NOI $30,634 @ 7.0% cap · market cap 5.89%
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
42
Businesses Nearby
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Business Placement
Demographics for 71901, AR
29,363
Population
14,952
Households
2
Avg Household Size
43
Median Age
26%
College-Educated
88%
High-School Grad
101.9 sq mi
ZIP Area
288
Density / Sq Mi
$52,410
Median Household Income
$35,604
Median Earnings
$797
Median Rent
$173,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The three-bedroom home has separate entrances serving its upper and lower levels.
Where is this residential income property located?
The property is located at 620 Grand Point Drive Hot Springs, AR.
What is the asking price?
The asking price for this property is $519,900.
What are key features of this property?
This property features: 2,393‑square‑foot furnished residence with 3 bedrooms and 2.5 bathrooms; 10' x 30' boat slip on Lake Hamilton; Separate entrances for the upper and lower levels
