Residential Income Property with
For Sale
$167,500
109 Indian Hills St, Hot Springs, AR 71913
Residential, Traditional, Hot Springs, AR
Property Size1,350 SF
Price / SF$124.07
Days on Market321
Property Features for 109 Indian Hills St
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 2, Bathroom 1, Bathroom 2
Parking features
Carport
Patio and Porch features
Deck, Patio
Interior features
Washer Connection, Washer-Stays, Dryer Connection-Electric, Dryer-Stays, Water Heater-Electric, Walk-In Closet(s), Walk-in Shower
Exterior features
Patio, Deck, Partially Fenced
Fencing
Partial
Appliances
Built-In Stove, Microwave, Dishwasher, Refrigerator-Stays
Subdivision
Oaklawn Village East HPR
Lot features
Level, In Subdivision
Directions
Central Ave. to left on Carl Drive to left on Terry, right on Indian Hills.
Standard status
Active
APN
400-48400-025-000
Size
1,350 SF
Taxes and HOA fees
Tax Year
2024
Tax Description
LOT C-7 OAKLAWN VILL EAST HPR
Tax Annual Amount
629
HOA Fee
$280 Monthly
Legal Description
LOT C-7 OAKLAWN VILL EAST HPR
Amenities
private patio
raised garden beds
easily accessible shower
Building Details
Year built
1989
Floors in Building
1
Flooring type
Vinyl, Carpet
Roof type
Composition
Architectural style
Other
Listing Agency:
Lake Hamilton Realty, Inc.
(501) 525-1466
Listed By:
Sandy O'Bier
(501) 276-1331
Added: Oct 8, 2025
Changed: Aug 21
Last Checked: Aug 24 at 12:06PM
MLS# 25040573
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.
Investment Insights
Based on property information with market context.
Oaklawn Village unit C7 is a 1,350-square-foot condominium with two bedrooms and two bathrooms. Built in 1989, the residence includes vinyl and carpet flooring, walk-in closet space, an accessible walk-in shower, and updated bathrooms. The kitchen is equipped with a built-in stove, microwave, dishwasher, and refrigerator, while the washer and dryer remain with the property. A carport provides covered parking.
Outdoor features include a private patio, deck, and partial fencing, with room for grilling and raised garden beds. The living room and main bedroom face a green space maintained by the POA. The property is located near shopping, medical facilities, and Oaklawn Racing and Casino in Hot Springs, Arkansas.
Outdoor features include a private patio, deck, and partial fencing, with room for grilling and raised garden beds. The living room and main bedroom face a green space maintained by the POA. The property is located near shopping, medical facilities, and Oaklawn Racing and Casino in Hot Springs, Arkansas.
Key Highlights
- 1,350‑square‑foot condo at Oaklawn Village, unit C7
- Two bedrooms and two bathrooms
- Private patio, deck, raised garden beds, and partial fencing
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
$8,331
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
4.97%
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%
$166,620
$166.6K
Cap Rate 7%
$119,014
$119.0K
Cap Rate 9%
$92,567
$92.6K
Market Conditions
NOI Build-Up for 1,350 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
$16.2K $12.00/SF
− Vacancy
−$1.1K −$0.78/SF
EGI
$15.1K $11.22/SF
− OpEx
−$6.8K −$5.05/SF
NOI
$8.3K $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%
$166,620
Cap Rate 7%
$119,014
Cap Rate 9%
$92,567
Alternative Uses
Best Use
Apartment 5plus
$119.0K
$104.1K – $138.9K
NOI $8,331 @ 7.0% cap · market cap 4.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$246.9K
$216.0K – $288.0K
NOI $17,282 @ 7.0% cap · market cap 10.32%
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
568
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 - Condo with updated bathrooms, a private outdoor area, and appliances included in the sale.
Where is this residential income property located?
The property is located at 109 Indian Hills St Hot Springs, AR.
What is the asking price?
The asking price for this property is $167,500.
What are key features of this property?
This property features: 1,350‑square‑foot condo at Oaklawn Village, unit C7; Two bedrooms and two bathrooms; Private patio, deck, raised garden beds, and partial fencing
