Residential Income Property with
For Sale
$159,000
109 Indian Hills Street Unit C11, Hot Springs, AR 71913
Condominium features two bedrooms, two baths, dual electric fireplaces, and a fenced courtyard patio.
Property Size1,350 SF
Price / SF$117.78
Days on Market8
Property Features for 109 Indian Hills Street Unit C11
General Information
Standard status
Active
Size
1,350 SF
Property subtype
Condo/Townhse/Duplex/Apt
Additional Details
HOA Fee
$230
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$711
Amenities
fenced-in patio courtyard
back deck
storage closet
washer/dryer
refrigerator
electric fireplaces
pet friendly
Building Details
Building Size
1,350 SF
Year Built
1987
Listing Agency:
Cook and Company
(501) 516-4036
Listed By:
Lance Cook · License #SA00087745
(501) 516-4036
Source:
Whitestonearkansas
Added: Aug 15
Changed: Aug 21
Last Checked: Aug 21 at 10:20AM
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 Cook and Company
Investment Insights
Based on property information with market context.
This residential income property is a 1,350-square-foot condominium with 2 bedrooms and 2 baths. The layout includes an open living and dining area, an eat-in kitchen with pantry cabinetry and an electric cooktop, plus electric fireplaces in both the kitchen and living room. A new roof, washer, dryer, and refrigerator are included. The property also has a storage closet within the fenced courtyard patio and a rear deck with a view.
The residence is part of a 30-unit complex that backs to a greenbelt. It is near Central Avenue shopping, CHI St. Vincent Hospital, restaurants, Oaklawn Racing and Casino, and the Hot Springs Creek Greenway Trail. Monthly HOA services cover water, trash pickup, exterior insurance, groundskeeping, and leaf blowing. Pets are permitted, and the home was built in 1987.
The residence is part of a 30-unit complex that backs to a greenbelt. It is near Central Avenue shopping, CHI St. Vincent Hospital, restaurants, Oaklawn Racing and Casino, and the Hot Springs Creek Greenway Trail. Monthly HOA services cover water, trash pickup, exterior insurance, groundskeeping, and leaf blowing. Pets are permitted, and the home was built in 1987.
Key Highlights
- 1,350‑square‑foot condominium with 2 bedrooms and 2 baths
- Part of a 30‑unit complex backing 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
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 - Condominium features two bedrooms, two baths, dual electric fireplaces, and a fenced courtyard patio.
Where is this residential income property located?
The property is located at 109 Indian Hills Street Unit C11 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 condominium with 2 bedrooms and 2 baths; Part of a 30‑unit complex backing to a greenbelt; Two electric fireplaces located in the kitchen and living room
