Lakefront Residential Income
For Sale
$469,000
1380 Airport Road, Hot Springs, AR 71913
CONDOS - Hot Springs, AR
Property Size2,680 SF
Price / SF$175
Days on Market9
Property Features for 1380 Airport Road
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
3
Bathrooms
4
Full bathrooms
3
Half bathrooms
1
Rooms
Bedroom 2, Bathroom 1, Laundry Room, Bathroom 4, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 3
Parking features
Carport
Patio and Porch features
Patio
Interior features
Wet Bar, Washer Connection, Dryer Connection-Electric, Water Heater-Electric, Breakfast Bar, Kit Counter- Granite Slab
Exterior features
Patio, Outside Storage Area
Fireplace
1
Appliances
Electric Range, Dishwasher, Disposal, Ice Maker Connection
Subdivision
Paradise Bay HPR Phase II
Lot features
Level, River/ Lake Area, Mountain View, Lake View, Lake Front
Directions
Head toward W Grand Ave Turn right at the 1st cross street onto W Grand Ave Grand Ave turns left and becomes Summer St At E-Z Mart, Summer St turns slightly right and becomes Albert Pike Rd Use the left 2 lanes to turn left onto Airport Rd
Standard status
Active
APN
200-49656-005-000
Size
2,680 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
UNIT B 1 (1ST& 2ND FLOOR)
Tax Annual Amount
3529
HOA Fee
$614 Monthly
Legal Description
UNIT B 1 (1ST& 2ND FLOOR)
Utilities
Water front
1
Amenities
community swimming pool
secured gated entrance
Building Details
Year built
2008
Floors in Building
2
Flooring type
Wood, Carpet, Tile
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
Signature Homes Real Estate
(501) 359-3059
Listed By:
Bobbie Schroeder · License #EB00079868
(501) 359-3059
Added: Aug 7
Changed: Aug 14
Last Checked: Aug 15 at 1:06AM
MLS# 26032276
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 2,680-square-foot condominium, built in 2008, combines an open-concept interior with hardwood, carpet, and tile flooring. The residence includes three bedrooms, four bathrooms, a wet bar, breakfast bar, granite-slab kitchen counter, electric range, dishwasher, disposal, and ice maker connection. Both HVACS are less than 2 yrs old. A fireplace, laundry connections, patio, and outside storage area add to the property’s functional layout.
The home overlooks Lake Hamilton from a waterfront setting in Hot Springs. Community amenities include a swimming pool, secured gated entrance, and covered two-car parking. A neighboring marina offers boat slips for rent, with access to boating, fishing, watersports, and waterfront dining.
The home overlooks Lake Hamilton from a waterfront setting in Hot Springs. Community amenities include a swimming pool, secured gated entrance, and covered two-car parking. A neighboring marina offers boat slips for rent, with access to boating, fishing, watersports, and waterfront dining.
Key Highlights
- 2,680‑square‑foot condominium built in 2008
- Waterfront setting with views of Lake Hamilton
- Three bedrooms and four bathrooms
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
$16,538
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
3.53%
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%
$330,760
$330.8K
Cap Rate 7%
$236,257
$236.3K
Cap Rate 9%
$183,756
$183.8K
Market Conditions
NOI Build-Up for 2,680 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
$32.2K $12.00/SF
− Vacancy
−$2.1K −$0.78/SF
EGI
$30.1K $11.22/SF
− OpEx
−$13.5K −$5.05/SF
NOI
$16.5K $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%
$330,760
Cap Rate 7%
$236,257
Cap Rate 9%
$183,756
Alternative Uses
Best Use
Apartment 5plus
$236.3K
$206.7K – $275.6K
NOI $16,538 @ 7.0% cap · market cap 3.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$490.1K
$428.9K – $571.8K
NOI $34,308 @ 7.0% cap · market cap 7.32%
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
401
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 - Waterfront condominium with lake views, gated access, community pool, and covered two-car parking.
Where is this residential income property located?
The property is located at 1380 Airport Road Hot Springs, AR.
What is the asking price?
The asking price for this property is $469,000.
What are key features of this property?
This property features: 2,680‑square‑foot condominium built in 2008; Waterfront setting with views of Lake Hamilton; Three bedrooms and four bathrooms
