Lakefront Residential Income
For Sale
$215,000
100 Discovery Bay Lane Unit 13, Hot Springs, AR 71913
Two-bedroom lakefront condo with patio access to the water and a covered boat dock nearby.
Property Size1,024 SF
Days on Market523
Property Features for 100 Discovery Bay Lane Unit 13
General Information
Standard status
Active
Size
1,024 SF
Property subtype
Condo/Townhse/Duplex/Apt
Units
Unit Mix
1 x 2BR/1.5BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,363
Amenities
swimming pool
covered boat dock
Building Details
Building Size
1,024 SF
Year Built
1965
Listing Agency:
Bennett Realty Company
(501) 454-2314
Listed By:
Quita Bennett
(501) 454-2314
Source:
Whitestonearkansas
Added: Mar 20, 2025
Changed: Aug 15
Last Checked: Aug 23 at 9:02AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Bennett Realty Company
Investment Insights
Based on property information with market context.
Built in 1965, this two-bedroom, one-and-a-half-bath condominium is part of the Discovery Bay complex at 100 Discovery Bay Lane, Unit 13, in Hot Springs. The patio sits a few steps from Lake Hamilton, while a covered boat dock is located just outside the residence. Community amenities include an updated swimming pool, a boat ramp, and a newly fenced vacant lot across the street for boat-trailer storage.
Recent property improvements include a new metal roof across the Discovery Bay complex, new awnings, and a new roof over the boat dock, all identified as completed June 26. The property is minutes from Oaklawn Racing Casino Resort, downtown Hot Springs, restaurants, and family-friendly entertainment venues. Nightly rentals are not permitted.
Recent property improvements include a new metal roof across the Discovery Bay complex, new awnings, and a new roof over the boat dock, all identified as completed June 26. The property is minutes from Oaklawn Racing Casino Resort, downtown Hot Springs, restaurants, and family-friendly entertainment venues. Nightly rentals are not permitted.
Key Highlights
- Two‑bedroom, 1.5‑bath lakefront condo at Discovery Bay
- Patio located a few steps from Lake Hamilton
- Covered boat dock positioned near the condo
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
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
39
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 - Two-bedroom lakefront condo with patio access to the water and a covered boat dock nearby.
Where is this residential income property located?
The property is located at 100 Discovery Bay Lane Unit 13 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: Two‑bedroom, 1.5‑bath lakefront condo at Discovery Bay; Patio located a few steps from Lake Hamilton; Covered boat dock positioned near the condo
