Six-Unit Duplex
New
For Sale
$610,000
101 Lance Cir, Hot Springs, AR 71901
Rental units feature granite countertops and stainless steel appliances, with tenants responsible for their own utilities.
Property Size4,080 SF
Price / SF$149.51
Days on Market5
Property Features for 101 Lance Cir
General Information
Standard status
Active
Size
4,080 SF
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
6 x 2BR/1BA
Multifamily Units
6
Building Details
Buildings
3
Listing Agency:
ESQ. Realty Group
(501) 255-0509
Listed By:
Beau Durbin · License #PB00055248
(501) 609-6493
Source:
Exprealty
Added: Oct 13
Changed: Oct 16
Last Checked: Oct 16 at 2:27PM
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 ESQ. Realty Group
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Investment Insights
Based on property information with market context.
Three duplex buildings contain six 2-bedroom, 1-bathroom rental units across 4,080 square feet. Recent work includes exterior painting, granite countertops and stainless steel appliances. All units are occupied, and tenants pay their own utilities.
The property includes three parcels at 812 Shady Heights, 101 Lance Circle and 367 Lance Circle in the Lakeside School District. Additional land may allow for a fourth duplex, subject to applicable approvals.
The property includes three parcels at 812 Shady Heights, 101 Lance Circle and 367 Lance Circle in the Lakeside School District. Additional land may allow for a fourth duplex, subject to applicable approvals.
Key Highlights
- Three duplex buildings with six 2BR/1BA rental units
- 4,080 square feet across the property
- All six units are occupied; tenants pay their own utilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,946
Cap Rate
4.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$538,920
$538.9K
Cap Rate 7%
$384,943
$384.9K
Cap Rate 9%
$299,400
$299.4K
Market Conditions
NOI Build-Up for 4,080 SF
Gross rent
$41.6K $10.20/SF
− Vacancy
−$3.1K −$0.77/SF
EGI
$38.5K $9.44/SF
− OpEx
−$11.5K −$2.83/SF
NOI
$26.9K $6.60/SF
Area
Garland County, AR
Vacancy
7.50%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$538,920
Cap Rate 7%
$384,943
Cap Rate 9%
$299,400
Alternative Uses
Best Use
Multifamily LT 5
$384.9K
$336.8K – $449.1K
NOI $26,946 @ 7.0% cap · market cap 4.42%
Second Best
Apartment 5plus
$359.7K
$314.7K – $419.6K
NOI $25,178 @ 7.0% cap · market cap 4.13%
Theoretical Best
Office A
$746.2K
$652.9K – $870.5K
NOI $52,231 @ 7.0% cap · market cap 8.56%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
22
Businesses Nearby
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Business Placement
Demographics for 71901, AR
29,363
Population
14,952
Households
2
Avg Household Size
43
Median Age
26%
College-Educated
88%
High-School Grad
101.9 sq mi
ZIP Area
288
Density / Sq Mi
$52,410
Median Household Income
$35,604
Median Earnings
$797
Median Rent
$173,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Rental units feature granite countertops and stainless steel appliances, with tenants responsible for their own utilities.
Where is this duplex located?
The property is located at 101 Lance Cir Hot Springs, AR.
What is the asking price?
The asking price for this property is $610,000.
What are key features of this property?
This property features: Three duplex buildings with six 2BR/1BA rental units; 4,080 square feet across the property; All six units are occupied; tenants pay their own utilities
