Lakefront Residential Income
For Sale
$459,000
1380 Airport Road Unit B1, Hot Springs, AR 71913
Waterfront condominium with elevator access, newer HVAC systems, and community amenities.
Property Size2,680 SF
Days on Market18
Property Features for 1380 Airport Road Unit B1
General Information
Standard status
Active
Size
2,680 SF
Property subtype
Condo/Townhse/Duplex/Apt
Taxes and HOA fees
Annual Taxes
$3,528
Building Details
Building Size
2,680 SF
Year Built
2008
Listing Agency:
Signature Homes Real Estate
(501) 760-8002
Listed By:
Bobbie Schroeder · License #EB00079868
Source:
Whitestonearkansas
Added: Aug 7
Changed: Aug 21
Last Checked: Aug 23 at 7:36AM
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 Signature Homes Real Estate
Investment Insights
Based on property information with market context.
This 2,680-square-foot condominium combines lakefront positioning with a spacious open-concept interior. Hardwood flooring, extensive windows, and views across Lake Hamilton define the main living areas, while an elevator provides convenient access. Both HVAC systems are less than 2 yrs old.
Community features include a swimming pool, secured gated entry, and covered two-car parking. A neighboring marina offers boat slips for rent along with access to boating, fishing, watersports, and waterfront dining. Built in 2008, the property is located at 1380 Airport Road Unit: B1 in Hot Springs, Arkansas.
Community features include a swimming pool, secured gated entry, and covered two-car parking. A neighboring marina offers boat slips for rent along with access to boating, fishing, watersports, and waterfront dining. Built in 2008, the property is located at 1380 Airport Road Unit: B1 in Hot Springs, Arkansas.
Key Highlights
- 2,680‑square‑foot lakefront condominium with Lake Hamilton views
- Both HVACS are less than 2 yrs old
- Elevator access within the condominium
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
3.60%
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 3.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$490.1K
$428.9K – $571.8K
NOI $34,308 @ 7.0% cap · market cap 7.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
362
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 elevator access, newer HVAC systems, and community amenities.
Where is this residential income property located?
The property is located at 1380 Airport Road Unit B1 Hot Springs, AR.
What is the asking price?
The asking price for this property is $459,000.
What are key features of this property?
This property features: 2,680‑square‑foot lakefront condominium with Lake Hamilton views; Both HVACS are less than 2 yrs old; Elevator access within the condominium
