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    1003 W GRAND Avenue Hot Springs, AR 71901

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    For Sale
    $295,000

    Duplex - Hot Springs, AR

    Property size:
    2,011 SF
    Price / SF:
    $146/SF
    Added:
    Mar 18, 2026
    Days on Market:
    51
    Last Refresh:
    May 7 at 11:06 pm

    Property Features for 1003 W GRAND Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    C-TR C-Trans District
    Rooms
    Kitchen
    Parking features
    None
    Patio and Porch features
    Deck
    Interior features
    Dryer Stays, Smoke Detector, Washer-stays, Furnished
    Exterior features
    Deck, Partially Fenced
    Fencing
    Fenced, Partial
    Appliances
    Refrigerator
    Standard status
    Active
    Size
    2,011 SF

    Taxes and HOA fees

    Tax Annual Amount
    1402

    Building Details

    Year built
    1945
    Floors in Building
    1
    Number of units
    2
    Flooring type
    Tile, Vinyl
    Building materials
    Brick, Frame
    Roof type
    Composition
    Architectural style
    Other

    We can help!

    Listing Contact
    Beau Durbin
    Beau Durbin

    Listing agent Beau Durbin License #PB00055248

    Listing office ESQ. Realty Group 422 West Grand Ave, Hot Springs, AR

    Listing date Mar 18, 2026

    MLS# 152614 Listing URL

    Copyright © 2026 Hot Springs Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Turnkey short‑term rental investment with two permits included.
    • Prime location: Just one mile from downtown Hot Springs and Oaklawn Racing Casino Resort.
    • Two fully furnished units, each with 2 bedrooms, 1 bath, living area, and kitchen.
    • Zoned CTR (Commercial Transitional) offering flexible usage options.
    • Potential for separate or combined rental of units.
    • Remodeled with modern finishes and a large rear deck.

    Overview

    Turnkey Hot Springs Duplex Investment

    This turnkey short-term rental investment is located just one mile from both downtown Hot Springs and Oaklawn Racing Casino Resort. The property is a beautifully remodeled duplex featuring two complete units. Each unit includes 2 bedrooms and 1 bath, with separate living areas and kitchens. The duplex is being sold fully furnished and includes two short-term rental permits that will convey to the buyer. The units can be rented separately or together as one large unit. The home offers a spacious layout, modern finishes, and a large rear deck. Zoned CTR (Commercial Transitional), the property combines flexibility with convenience in one of Hot Springs’ most desirable rental corridors. This property, with a size of 2011 Square Feet, is a rare opportunity to own a fully equipped, income-producing property. The property is located in Hot Springs, AR 71901, Garland County.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Simpson Enterprise Big Box & Wholesale Store

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Hot Springs
    County
    Garland
    State
    Arkansas
    Longitude
    -93.067804
    Latitude
    34.501627

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    FAQs

    What type of property is this?
    Duplex - Remodeled duplex near downtown and Oaklawn, ideal for short-term rentals.
    Where is this duplex located?
    The property is located at 1003 W GRAND Avenue Hot Springs, AR.
    What is the asking price?
    The asking price for this property is $295,000.
    What are key features of this property?
    This property features: Turnkey short‑term rental investment with two permits included.; Prime location: Just one mile from downtown Hot Springs and Oaklawn Racing Casino Resort.; Two fully furnished units, each with 2 bedrooms, 1 bath, living area, and kitchen.
    (501) 609-6493
    We can help!
    Listing Contact
    Beau Durbin
    Beau Durbin
    Real Estate License ID: PB00055248
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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