Waterfront Residential Income
For Sale
$299,900
640 Arkridge Road, Hot Springs, AR 71913
Residential, Traditional, Hot Springs, AR
Property Size1,464 SF
Price / SF$204.85
Days on Market78
Property Features for 640 Arkridge 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
Patio and Porch features
Deck, Patio
Interior features
Washer Connection, Washer-Stays, Dryer Connection-Electric, Dryer-Stays, Water Heater-Electric, Ceiling Fan(s), Walk-in Shower, Breakfast Bar, Furnished, Kit Counter- Granite Slab
Exterior features
Patio, Deck, Outside Storage Area, Inground Pool, Guttering, Boat Dock, Covered Patio
Fireplace
1
Appliances
Free-Standing Stove, Microwave, Dishwasher, Disposal, Refrigerator-Stays
Subdivision
WOODLAND HPR
Lot features
Level, River Front, River View, River/ Lake Area, Lake View, Lake Front, Waterfront
Elementary school
Lakeside
Middle school
Lakeside
High school
Lakeside
Directions
Carpenter Dam Road South to Arkridge Road turn right, folllow road to until you see condos on the right.
Standard status
Active
Size
1,464 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
UNIT D-2
Tax Annual Amount
1486
HOA Fee
$295 Monthly
Legal Description
UNIT D-2
Utilities
Water front features
Lake
Water front
1
Amenities
in-ground pool
boardwalk with boat tie-up access
Building Details
Year built
2006
Flooring type
Tile, Wood, Vinyl
Roof type
Composition
Architectural style
Other
Additional Structures
Storage
Listing Agency:
Keller Williams Realty The Bergeron Group
(501) 463-6328
Listed By:
Nancy Bergeron
(817) 879-2853
Added: Jul 11
Changed: Sep 17
Last Checked: Sep 26 at 4:06PM
MLS# 26028706
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 1,464-square-foot, second-floor condominium in a lakefront community includes two bedrooms and two bathrooms. The furnished interior has an open living and dining area, a kitchen with granite countertops and breakfast bar, wood, tile, and vinyl flooring, plus washer and dryer connections. A fireplace, private balcony, patio, covered patio, and exterior storage add to the usable space. The property was built in 2006 and includes an electric water heater, refrigerator, stove, microwave, dishwasher, and disposal.
The community at 640 Arkridge Road includes an in-ground pool along the lake, a boardwalk, boat tie-up access, and a boat dock. The residence is located in Hot Springs near downtown, Central Avenue shopping and dining, Garvan Woodland Gardens, Oaklawn Racing Casino Resort, Historic Bathhouse Row, Hot Springs National Park, marinas, and other area attractions. The property is positioned for use as a full-time residence, vacation getaway, or investment property.
The community at 640 Arkridge Road includes an in-ground pool along the lake, a boardwalk, boat tie-up access, and a boat dock. The residence is located in Hot Springs near downtown, Central Avenue shopping and dining, Garvan Woodland Gardens, Oaklawn Racing Casino Resort, Historic Bathhouse Row, Hot Springs National Park, marinas, and other area attractions. The property is positioned for use as a full-time residence, vacation getaway, or investment property.
Key Highlights
- 1,464‑square‑foot second‑floor condo with 2 bedrooms and 2 bathrooms
- Lakefront community with water access, boat dock, and boat tie‑up area
- Private in‑ground pool located along the lake shore
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
$9,034
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
3.01%
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%
$180,680
$180.7K
Cap Rate 7%
$129,057
$129.1K
Cap Rate 9%
$100,378
$100.4K
Market Conditions
NOI Build-Up for 1,464 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
$17.6K $12.00/SF
− Vacancy
−$1.1K −$0.78/SF
EGI
$16.4K $11.22/SF
− OpEx
−$7.4K −$5.05/SF
NOI
$9.0K $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 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%
$180,680
Cap Rate 7%
$129,057
Cap Rate 9%
$100,378
Alternative Uses
Best Use
Apartment 5plus
$129.1K
$112.9K – $150.6K
NOI $9,034 @ 7.0% cap · market cap 3.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$267.7K
$234.3K – $312.4K
NOI $18,742 @ 7.0% cap · market cap 6.25%
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
16
Businesses Nearby
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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 - Furnished two-bedroom condo with lake access, a private balcony, and community pool amenities.
Where is this residential income property located?
The property is located at 640 Arkridge Road Hot Springs, AR.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: 1,464‑square‑foot second‑floor condo with 2 bedrooms and 2 bathrooms; Lakefront community with water access, boat dock, and boat tie‑up area; Private in‑ground pool located along the lake shore
