Tudor-Style
For Sale
$399,999
121 Second Street, Hot Springs, AR 71913
Residential property with window units, wall-furnace heating, and finished areas with exterior access.
Property Size4,610 SF
Price / SF$86.77
Days on Market14
Property Features for 121 Second Street
General Information
Standard status
Active
Size
4,610 SF
Property subtype
Residential Income
Zoning
CI
Lease Term
Month To Month
Taxes and HOA fees
Annual Taxes
$1,300
Amenities
Window Unit(s)
Space Heater, Wall Furnace
Finished, Exterior Entry, Crawl Space, Walk-Out Access
Gas Water Heater, Cooktop, Refrigerator
Bungalow/Cottage, Tudor
Building Details
Building Size
4,610 SF
Year Built
1946
Listing Agency:
Rix Realty - Advantage Team Realtors
(501) 366-0259
Listed By:
Stephen T Inman-Crawley · License #SA00076751
(501) 366-0259
Source:
Evrealestate
Added: Aug 7
Changed: Aug 13
Last Checked: Aug 20 at 6:16AM
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 Rix Realty - Advantage Team Realtors
Investment Insights
Based on property information with market context.
Built in 1946, this duplex combines Tudor and bungalow/cottage styling with practical residential features. Interior improvements include finished areas, exterior entry, crawl space, and walk-out access. Mechanical and kitchen features include window unit cooling, a space heater, wall furnace, gas water heater, cooktop, and refrigerator.
The property is located at 121 Second Street in Hot Springs, Garland County, Arkansas. It is identified with CI zoning and is reached by traveling west on Grand to Second Street and continuing to 121.
The property is located at 121 Second Street in Hot Springs, Garland County, Arkansas. It is identified with CI zoning and is reached by traveling west on Grand to Second Street and continuing to 121.
Key Highlights
- Duplex built in 1946
- Tudor and bungalow/cottage exterior styling
- CI zoning
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
$30,447
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
7.61%
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%
$608,940
$608.9K
Cap Rate 7%
$434,957
$435.0K
Cap Rate 9%
$338,300
$338.3K
Market Conditions
NOI Build-Up for 4,610 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
$47.0K $10.20/SF
− Vacancy
−$3.5K −$0.77/SF
EGI
$43.5K $9.44/SF
− OpEx
−$13.0K −$2.83/SF
NOI
$30.4K $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%
$608,940
Cap Rate 7%
$434,957
Cap Rate 9%
$338,300
Alternative Uses
Best Use
Multifamily LT 5
$435.0K
$380.6K – $507.5K
NOI $30,447 @ 7.0% cap · market cap 7.61%
Second Best
Apartment 5plus
$406.4K
$355.6K – $474.1K
NOI $28,448 @ 7.0% cap · market cap 7.11%
Theoretical Best
Office A
$843.1K
$737.7K – $983.6K
NOI $59,015 @ 7.0% cap · market cap 14.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,454
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Residential property with window units, wall-furnace heating, and finished areas with exterior access.
Where is this duplex located?
The property is located at 121 Second Street Hot Springs, AR.
What is the asking price?
The asking price for this property is $399,999.
What are key features of this property?
This property features: Duplex built in 1946; Tudor and bungalow/cottage exterior styling; CI zoning
