Six-Unit Duplex
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 Market9
Property Features for 101 Lance Circle
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Appliances
Free-Standing Stove, Refrigerator-Stays, Free-Standing Stove, Refrigerator-Stays
Subdivision
Lake Town
Lot features
Level
Elementary school
Lakeside
Middle school
Lakeside
High school
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
Block B, Lots 1-3, Lake Town
Legal Description
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 - Hot Springs
(501) 255-0509
Listed By:
Beau Durbin · License #PB00055248
(501) 609-6493
Added: Oct 9
Changed: Oct 13
Last Checked: Oct 17 at 12:06AM
MLS# 26041395
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.
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Investment Insights
Based on property information with market context.
This residential portfolio consists of three duplex buildings containing six 2-bedroom, 1-bathroom units. The combined building area is 4,080 square feet on 0.9 acres. Improvements include fresh exterior paint, granite countertops, and stainless steel appliances. The buildings date to 1985 and have laminate flooring and composition roofs. All units are occupied, and tenants pay their own utilities.
The three parcels are associated with 812 Shady Heights, 101 Lance Circle, and 367 Lance Circle in Hot Springs. Lakeside School is described as a short distance away, and the property is within the Lakeside School District. Additional land may accommodate a fourth duplex, subject to applicable approvals.
The three parcels are associated with 812 Shady Heights, 101 Lance Circle, and 367 Lance Circle in Hot Springs. Lakeside School is described as a short distance away, and the property is within the Lakeside School District. Additional land may accommodate a fourth duplex, subject to applicable approvals.
Key Highlights
- Three duplex buildings contain six 2‑bedroom, 1‑bathroom rental units
- 4,080 square feet of building area on 0.9 acres
- All 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
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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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 - Three refreshed rental buildings are fully occupied, with residents paying their own utilities.
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 rental units; 4,080 square feet of building area on 0.9 acres; All units are occupied; tenants pay their own utilities
