For Sale
$332,400
633 4th Street, Hot Springs, AR 71913
MULTI_FAMILY - Hot Springs, AR
Property Size3,424 SF
Lot Size0.25 Acres
Price / SF$97.08
Days on Market23
Property Features for 633 4th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
7
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 7, Bathroom 3, Bathroom 1, Bedroom 6, Bedroom 2, Bathroom 2, Bedroom 5, Bedroom 3, Bedroom 1, Bedroom 4
Patio and Porch features
Porch
Interior features
Washer Connection, Dryer Connection-Electric, Hot Water Heater-Electric
Exterior features
Outside Storage Area, Guttering, Porch
Subdivision
Smith & Cripps
Lot features
Level, Cleared, In Subdivision
Directions
South on Central Avenue. Right on Greenwood. Right on 4th Street to 633 4th Street.
Standard status
Active
Size
3,424 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Description
Lots 7 & 8
Tax Annual Amount
1376
Legal Description
Lots 7 & 8
Building Details
Year built
1940
Floors in Building
2
Number of units
4
Flooring type
Tile, Laminate, Concrete, Wood
Roof type
Composition
Architectural style
Colonial, Other
Additional Structures
Storage
Listing Agency:
Flynn Realty
(615) 364-0948
Listed By:
Susanne Flynn · License #24463
(615) 685-1041
Added: Aug 12
Changed: Aug 19
Last Checked: Sep 3 at 2:06PM
MLS# 26032969
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.
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
$22,614
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
6.80%
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%
$452,280
$452.3K
Cap Rate 7%
$323,057
$323.1K
Cap Rate 9%
$251,267
$251.3K
Market Conditions
NOI Build-Up for 3,424 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
$34.9K $10.20/SF
− Vacancy
−$2.6K −$0.77/SF
EGI
$32.3K $9.44/SF
− OpEx
−$9.7K −$2.83/SF
NOI
$22.6K $6.60/SF
Area
Garland County, AR
Vacancy
7.50%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
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%
$452,280
Cap Rate 7%
$323,057
Cap Rate 9%
$251,267
Alternative Uses
Best Use
Multifamily LT 5
$323.1K
$282.7K – $376.9K
NOI $22,614 @ 7.0% cap · market cap 6.80%
Second Best
Apartment 5plus
$301.9K
$264.1K – $352.2K
NOI $21,130 @ 7.0% cap · market cap 6.36%
Theoretical Best
Office A
$626.2K
$547.9K – $730.6K
NOI $43,833 @ 7.0% cap · market cap 13.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
815
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
Where is this multifamily property located?
The property is located at 633 4th Street Hot Springs, AR.
What is the asking price?
The asking price for this property is $332,400.
