Residential Income Property with Lake
For Sale
$195,000
724 Weston Road, Hot Springs, AR 71913
CONDOS - Hot Springs, AR
Property Size1,448 SF
Price / SF$134.67
Days on Market171
Property Features for 724 Weston Road
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 1, Bathroom 1, Bathroom 2
Parking features
Carport
Fireplace
1
Appliances
Free-Standing Stove, Double Oven, Microwave, Dishwasher, Disposal, Trash Compactor
Subdivision
CEDAR CREST
Lot features
Lake Front
Directions
270 Bypass to Airport Rd. Left onto Airport Rd., right onto Weston Rd. to Cedar Crest condos.
Standard status
Active
Size
1,448 SF
Taxes and HOA fees
Tax Description
Cedar Crest Hyper Phase II
Tax Annual Amount
1786
HOA Fee
$279 Monthly
Legal Description
Cedar Crest Hyper Phase II
Utilities
Water front features
Lake
Water front
1
Amenities
gated community
clubhouse
pool
hot tub
Building Details
Year built
1982
Floors in Building
1
Flooring type
Carpet, Wood, Tile
Roof type
Composition
Architectural style
Other
Listing Agency:
Hot Springs 1st Choice Realty
(501) 525-1600
Listed By:
Rachel Mardis
(501) 762-4352
Added: Mar 6
Changed: Aug 12
Last Checked: Aug 24 at 11:06AM
MLS# 26008774
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.
Unit O2 is a 1,448-square-foot, walk-in-level condominium in a gated community, with two bedrooms, two bathrooms, a fireplace, and lake and mountain views. Interior finishes include carpet, wood, and tile flooring, while the kitchen is equipped with a free-standing stove, double oven, microwave, dishwasher, disposal, and trash compactor. The residence was built in 1982 and includes one assigned carport space plus visitor parking.
Community amenities include a clubhouse, large pool, hot tub, and lake access, all within a short walk of the unit. Building improvements include new roofing completed in 2023, along with new gutters and exterior paint on every building and new boat dock roofs in 2025. Rentals require a six-month minimum term.
Community amenities include a clubhouse, large pool, hot tub, and lake access, all within a short walk of the unit. Building improvements include new roofing completed in 2023, along with new gutters and exterior paint on every building and new boat dock roofs in 2025. Rentals require a six-month minimum term.
Key Highlights
- 1,448‑square‑foot, walk‑in‑level condo with 2 bedrooms and 2 bathrooms
- Lake and mountain views from unit O2
- Gated community with clubhouse, large pool, and hot tub
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
$8,936
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
4.58%
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%
$178,720
$178.7K
Cap Rate 7%
$127,657
$127.7K
Cap Rate 9%
$99,289
$99.3K
Market Conditions
NOI Build-Up for 1,448 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
$17.4K $12.00/SF
− Vacancy
−$1.1K −$0.78/SF
EGI
$16.2K $11.22/SF
− OpEx
−$7.3K −$5.05/SF
NOI
$8.9K $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%
$178,720
Cap Rate 7%
$127,657
Cap Rate 9%
$99,289
Alternative Uses
Best Use
Apartment 5plus
$127.7K
$111.7K – $148.9K
NOI $8,936 @ 7.0% cap · market cap 4.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$264.8K
$231.7K – $309.0K
NOI $18,537 @ 7.0% cap · market cap 9.51%
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
182
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 - Walk-in-level condo offers two bedrooms, two baths, a carport, and access to shared recreation amenities.
Where is this residential income property located?
The property is located at 724 Weston Road Hot Springs, AR.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: 1,448‑square‑foot, walk‑in‑level condo with 2 bedrooms and 2 bathrooms; Lake and mountain views from unit O2; Gated community with clubhouse, large pool, and hot tub
