Residential Income Property with
New
For Sale
$159,000
109 Indian Hills Street, Hot Springs, AR 71913
CONDOS - Hot Springs, AR
Property Size1,350 SF
Price / SF$117.78
Days on Market7
Property Features for 109 Indian Hills Street
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Laundry Room, Bathroom 2, Bathroom 1, Bedroom 1, Bedroom 2
Parking features
Assigned
Fireplace
1
Appliances
Microwave, Dishwasher, Disposal
Subdivision
OAKLAWN VILLAGE EAST HPR
Lot features
Level
Directions
Central to Carl Dr to Indian Hills
Standard status
Active
Size
1,350 SF
Taxes and HOA fees
Tax Description
LOT C11 OAKLAWN VILLAGE EAST
Tax Annual Amount
711
HOA Fee
$230 Monthly
Legal Description
LOT C11 OAKLAWN VILLAGE EAST
Amenities
electric heating fireplaces
fenced-in patio courtyard
back deck
eat-in kitchen
storage closet
Building Details
Year built
1987
Floors in Building
1
Flooring type
Wood, Tile
Roof type
Shingle
Architectural style
Other
Listing Agency:
Cook and Company
(501) 580-2439
Listed By:
Lance Cook · License #SA00087745
(501) 516-4036
Added: Aug 15
Last Checked: Aug 21 at 4:06AM
MLS# 26033438
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.
This 1,350-square-foot condo offers two bedrooms and two bathrooms within a 30-unit complex. The layout includes an open dining and living area, an eat-in kitchen with pantry cabinets and an electric cooktop, a laundry room, and wood and tile flooring. Electric fireplaces serve the kitchen and living room. A fenced patio courtyard provides outdoor space and includes a storage closet, while the back deck overlooks the surrounding area. The property also has a new shingle roof, assigned parking, and appliances including a washer, dryer, refrigerator, microwave, dishwasher, and disposal.
The community backs up to a greenbelt and is near Central Avenue shopping, CHI St. Vincent Hospital, restaurants, Oaklawn Racing and Casino, and the Hot Springs Creek Greenway Trail. HOA services cover water, trash pickup, exterior insurance, groundskeeping, and leaf blowing. The property is pet friendly, and the community is limited to residents age 55 and older.
The community backs up to a greenbelt and is near Central Avenue shopping, CHI St. Vincent Hospital, restaurants, Oaklawn Racing and Casino, and the Hot Springs Creek Greenway Trail. HOA services cover water, trash pickup, exterior insurance, groundskeeping, and leaf blowing. The property is pet friendly, and the community is limited to residents age 55 and older.
Key Highlights
- 1,350‑square‑foot condo with 2 bedrooms and 2 bathrooms
- Part of a 30‑unit complex backing up to a greenbelt
- Two electric fireplaces, located in the kitchen and living room
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
5.24%
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 5.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$246.9K
$216.0K – $288.0K
NOI $17,282 @ 7.0% cap · market cap 10.87%
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 - Two-bedroom condo with fireplaces, private outdoor areas, and assigned parking in a 30-unit community.
Where is this residential income property located?
The property is located at 109 Indian Hills Street Hot Springs, AR.
What is the asking price?
The asking price for this property is $159,000.
What are key features of this property?
This property features: 1,350‑square‑foot condo with 2 bedrooms and 2 bathrooms; Part of a 30‑unit complex backing up to a greenbelt; Two electric fireplaces, located in the kitchen and living room
