Duplex with Hardwood
New
For Sale
$310,000
115 Legendary Place, Hot Springs, AR 71913
Residential, Traditional, Hot Springs, AR
Property Size1,949 SF
Price / SF$159.06
Days on Market7
Property Features for 115 Legendary Place
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 2, Bedroom 1, Bathroom 1, Living Room, Bathroom 2
Parking features
Garage, Open
Patio and Porch features
Porch
Interior features
Dryer Connection-Electric, Water Heater-Electric, Walk-In Closet(s), Ceiling Fan(s), Breakfast Bar
Exterior features
Porch
Fireplace
1
Appliances
Electric Range, Dishwasher, Disposal, Ice Maker Connection
Subdivision
Legends
Lot features
Cul-de-sac, In Subdivision
Directions
From Central Ave, travel south of the junction on hwy 290 and Central Ave. Turn Left onto Legendary Trail and it will be the home on the right in the Cul-de- Sac.
Standard status
Active
Size
1,949 SF
Taxes and HOA fees
Tax Description
Legend at Hot Springs Garden
Tax Annual Amount
2000
HOA Fee
$190 Monthly
Legal Description
Legend at Hot Springs Garden
Amenities
clubhouse
fitness center
great room
patio
community pool
Building Details
Year built
2008
Floors in Building
1
Flooring type
Wood, Tile
Roof type
Composition
Architectural style
Other
Listing Agency:
Keller Williams Realty
(501) 907-5959
Listed By:
Kelly Gentry
(870) 406-9351
Added: Sep 9
Changed: Sep 13
Last Checked: Sep 15 at 2:06PM
MLS# 26036890
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 1,949-square-foot residential property was built in 2008 and includes three bedrooms, two bathrooms, a living room, and a large sunroom. Hardwood and tile flooring extend throughout the home, while the kitchen includes an electric range, dishwasher, disposal, ice maker connection, and breakfast bar. Additional features include a fireplace, walk-in closet, electric water heater, electric dryer connection, porch, and two-car garage.
The property is located in Hot Springs within the Lakeside school district. Property association services include lawn and yard maintenance, and residents have access to a clubhouse with a fitness center, gathering room, patio, and community pool.
The property is located in Hot Springs within the Lakeside school district. Property association services include lawn and yard maintenance, and residents have access to a clubhouse with a fitness center, gathering room, patio, and community pool.
Key Highlights
- 1,949 SF residential property built in 2008
- Three bedrooms and two bathrooms
- Large sunroom 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
$12,872
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
4.15%
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%
$257,440
$257.4K
Cap Rate 7%
$183,886
$183.9K
Cap Rate 9%
$143,022
$143.0K
Market Conditions
NOI Build-Up for 1,949 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
$19.9K $10.20/SF
− Vacancy
−$1.5K −$0.77/SF
EGI
$18.4K $9.44/SF
− OpEx
−$5.5K −$2.83/SF
NOI
$12.9K $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 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%
$257,440
Cap Rate 7%
$183,886
Cap Rate 9%
$143,022
Alternative Uses
Best Use
Multifamily LT 5
$183.9K
$160.9K – $214.5K
NOI $12,872 @ 7.0% cap · market cap 4.15%
Second Best
Apartment 5plus
$171.8K
$150.3K – $200.5K
NOI $12,027 @ 7.0% cap · market cap 3.88%
Theoretical Best
Office A
$356.4K
$311.9K – $415.8K
NOI $24,950 @ 7.0% cap · market cap 8.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
33
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
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Cap Rate, Value Estimation, Potential NOI and more
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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 - Low-maintenance residential property with a sunroom, attached garage, and access to shared community amenities.
Where is this duplex located?
The property is located at 115 Legendary Place Hot Springs, AR.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: 1,949 SF residential property built in 2008; Three bedrooms and two bathrooms; Large sunroom and living room
