Lakefront Residential Income
For Sale
$215,000
100 Discovery Bay Lane, Hot Springs, AR 71913
Residential, Traditional, Hot Springs, AR
Property Size1,024 SF
Price / SF$209.96
Days on Market565
Property Features for 100 Discovery Bay Lane
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
1
Half bathrooms
1
Rooms
Bedroom 2, Den, Bathroom 1, Bathroom 2, Bedroom 1
Parking features
Assigned, Carport
Patio and Porch features
Deck, Patio
Interior features
Walk-In Closet(s), Ceiling Fan(s)
Exterior features
Patio, Deck, Partially Fenced, Outside Storage Area, Inground Pool, Lawn Sprinkler, Boat Dock, Seawall, Wood Fence, Iron Fence, Covered Patio
Fencing
Wood, Fenced, Partial
Appliances
Free-Standing Stove, Electric Range, Dishwasher, Disposal, Refrigerator-Stays
Subdivision
DISCOVERY BAY COLONY REG.
Lot features
Lake Front
Directions
Martin Luther King to McLeod. Exit right on McLeod. Turn right and turn right on Aviation. Turn right on Lakeshore. Turn left on Burchwood Bay.Turn right on Sunset Bay. Condos on end of street. Drive through gate. Unit 13 is halfway down the street.
Standard status
Active
Size
1,024 SF
Taxes and HOA fees
Tax Description
Bl/Lot 000/013 STR 24-03S-20W
Tax Annual Amount
1363
HOA Fee
$380 Monthly
Legal Description
Bl/Lot 000/013 STR 24-03S-20W
Utilities
Water front features
Lake
Water front
1
Amenities
updated swimming pool
covered boat dock
boat ramp
boat trailer storage lot
Building Details
Year built
1965
Floors in Building
2
Flooring type
Tile, Carpet
Architectural style
Other
Additional Structures
Storage
Listing Agency:
Bennett Realty Company
Listed By:
Quita Bennett
(501) 454-2314
Added: Mar 19, 2025
Changed: Sep 13
Last Checked: Oct 4 at 10:06PM
MLS# 25010809
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 1,024-square-foot, two-bedroom, 1.5-bath condominium is positioned along Lake Hamilton with the shoreline just beyond the patio. Interior features include a den, walk-in closet, ceiling fans, tile and carpet flooring, and a kitchen equipped with an electric range, dishwasher, disposal, and refrigerator. Outdoor amenities include a deck, covered patio, assigned carport, swimming pool, boat dock, seawall, and fenced areas.
Discovery Bay Complex improvements include a metal roof installed June 26, new awnings, and a new roof over the boat dock. A community boat ramp is next to the property, while a fenced vacant lot across the street provides boat-trailer storage. The condo is in Hot Springs near Oaklawn Racing Casino Resort, downtown, restaurants, and family entertainment venues. Nightly rentals are not permitted.
Discovery Bay Complex improvements include a metal roof installed June 26, new awnings, and a new roof over the boat dock. A community boat ramp is next to the property, while a fenced vacant lot across the street provides boat-trailer storage. The condo is in Hot Springs near Oaklawn Racing Casino Resort, downtown, restaurants, and family entertainment venues. Nightly rentals are not permitted.
Key Highlights
- 1,024‑square‑foot, 2‑bedroom, 1.5‑bath lakefront condo
- Lake Hamilton shoreline located just beyond the patio
- Covered boat dock and community boat ramp next to the property
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
$6,319
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
2.94%
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%
$126,380
$126.4K
Cap Rate 7%
$90,271
$90.3K
Cap Rate 9%
$70,211
$70.2K
Market Conditions
NOI Build-Up for 1,024 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
$12.3K $12.00/SF
− Vacancy
−$799 −$0.78/SF
EGI
$11.5K $11.22/SF
− OpEx
−$5.2K −$5.05/SF
NOI
$6.3K $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%
$126,380
Cap Rate 7%
$90,271
Cap Rate 9%
$70,211
Alternative Uses
Best Use
Apartment 5plus
$90.3K
$79.0K – $105.3K
NOI $6,319 @ 7.0% cap · market cap 2.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$187.3K
$163.9K – $218.5K
NOI $13,109 @ 7.0% cap · market cap 6.10%
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
39
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 - Two-bedroom condo with direct lake access, covered dock proximity, and community recreation amenities.
Where is this residential income property located?
The property is located at 100 Discovery Bay Lane Hot Springs, AR.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: 1,024‑square‑foot, 2‑bedroom, 1.5‑bath lakefront condo; Lake Hamilton shoreline located just beyond the patio; Covered boat dock and community boat ramp next to the property
