6-Unit Duplex
New
For Sale
$610,000
101 LANCE Circle, Hot Springs, AR 71901
MULTI-FAMILY, Hot Springs, AR
Property Size4,080 SF
Lot Size0.90 Acres
Price / SF$149.51
Days on Market2
Property Features for 101 LANCE Circle
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
12
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 4, Bedroom 10, Bedroom 9, Bedroom 8, Bathroom 6, Bathroom 4, Bedroom 7, Bedroom 11, Bedroom 12, Bedroom 5, Bathroom 3, Bedroom 6, Bedroom 2, Bathroom 5, Bedroom 3
Appliances
Free-Standing Stove, Refrigerator Stays, Free-Standing Stove, Refrigerator Stays
Subdivision
Lake Town
Elementary school district
Lakeside
Middle school district
Lakeside
High school district
Lakeside
Directions
From Carpenter Dam Rd., take Shady Grove Rd., left on Shady Heights to property on Right
Standard status
Active
Size
4,080 SF
Lot size
0.90 Acres
Taxes and HOA fees
Tax Description
3 addresses: 101 & 367 Lance Circle; 812 Shady Heights Rd. Legal: Block B, Lots 1-3, Lake Town
Legal Description
3 addresses: 101 & 367 Lance Circle; 812 Shady Heights Rd. Legal: Block B, Lots 1-3, Lake Town
Building Details
Year built
1985
Floors in Building
1
Number of units
6
Flooring type
Laminate
Roof type
Composition
Listing Agency:
ESQ. Realty Group
(501) 255-0509
Listed By:
Beau Durbin · License #PB00055248
(501) 609-6493
Added: Oct 12
Last Checked: Oct 13 at 5:06AM
MLS# 157565
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.
Investment Insights
Based on property information with market context.
This six-unit property consists of three duplex buildings across three parcels, with 4,080 square feet of building area on 0.9 acres. Each unit has two bedrooms and one bathroom. Updates include exterior paint, granite countertops, and stainless steel appliances; laminate flooring is also present. The buildings were constructed in 1985.
All units are occupied, and residents pay their own utilities. The property is within the Lakeside School District. The three parcels have separate addresses: 812 Shady Heights, 101 Lance Circle, and 367 Lance Circle.
All units are occupied, and residents pay their own utilities. The property is within the Lakeside School District. The three parcels have separate addresses: 812 Shady Heights, 101 Lance Circle, and 367 Lance Circle.
Key Highlights
- Three duplex buildings contain six 2‑bedroom/1‑bathroom units
- 4,080 square feet of building area on 0.9 acres
- All units 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.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
6
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
21
Businesses Nearby
Explore this area
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
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Three buildings offer occupied rental units with updated finishes and appliances.
Where is this duplex located?
The property is located at 101 LANCE Circle 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 contain six 2‑bedroom/1‑bathroom units; 4,080 square feet of building area on 0.9 acres; All units occupied; tenants pay their own utilities
