Two-Unit Duplex with Metal
For Sale
$185,000
139-141 Chelle Street, Hot Springs, AR 71901
Multi-Family, Traditional, Hot Springs, AR
Property Size1,476 SF
Lot Size0.20 Acres
Price / SF$125.34
Days on Market54
Property Features for 139-141 Chelle Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Interior features
Washer Connection, Dryer Connection-Electric, Hot Water Heater-Electric
Appliances
Free-Standing Stove, Dishwasher, Free-Standing Stove, Dishwasher
Subdivision
Winans Hills Patio Homes
Lot features
Level
Directions
Malvern Ave Turn on Country Club Left on Shady Grove Right on Winans Right on Chelle.
Standard status
Active
Size
1,476 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Description
Block 1 Lot 11
Tax Annual Amount
1060
Legal Description
Block 1 Lot 11
Building Details
Year built
1980
Floors in Building
1
Number of units
2
Flooring type
Vinyl
Roof type
Metal
Architectural style
Other
Listing Agency:
Hot Springs 1st Choice Realty
(501) 525-1600
Listed By:
Archie VanGorder · License #SA00087082
(501) 276-2655
Added: Jul 10
Changed: Aug 28
Last Checked: Sep 1 at 9:06PM
MLS# 26035136
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 duplex contains two separate residences within 1,476 square feet, with each unit arranged as a two-bedroom, one-bath floor plan. Vinyl plank flooring runs throughout, and the property is covered by a metal roof. Interior utility features include washer and dryer connections along with electric water heating. A free-standing stove and dishwasher are included among the appliances.
Constructed in 1980, the property occupies 0.2 acres at 139-141 Chelle Street in Hot Springs, Arkansas. The location is near hospitals and medical centers, with access to downtown Hot Springs, historic attractions, parks, shopping, dining, and restaurants. The property is also situated within the Lakeside School District.
Constructed in 1980, the property occupies 0.2 acres at 139-141 Chelle Street in Hot Springs, Arkansas. The location is near hospitals and medical centers, with access to downtown Hot Springs, historic attractions, parks, shopping, dining, and restaurants. The property is also situated within the Lakeside School District.
Key Highlights
- Two‑unit duplex with 1,476 square feet of property size
- Each unit includes 2 bedrooms and 1 bathroom
- 0.2‑acre lot at 139‑141 Chelle Street, Hot Springs, AR 71901
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
$9,748
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
5.27%
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%
$194,960
$195.0K
Cap Rate 7%
$139,257
$139.3K
Cap Rate 9%
$108,311
$108.3K
Market Conditions
NOI Build-Up for 1,476 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
$15.1K $10.20/SF
− Vacancy
−$1.1K −$0.77/SF
EGI
$13.9K $9.44/SF
− OpEx
−$4.2K −$2.83/SF
NOI
$9.7K $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%
$194,960
Cap Rate 7%
$139,257
Cap Rate 9%
$108,311
Alternative Uses
Best Use
Multifamily LT 5
$139.3K
$121.9K – $162.5K
NOI $9,748 @ 7.0% cap · market cap 5.27%
Second Best
Apartment 5plus
$130.1K
$113.9K – $151.8K
NOI $9,108 @ 7.0% cap · market cap 4.92%
Theoretical Best
Office A
$269.9K
$236.2K – $314.9K
NOI $18,895 @ 7.0% cap · market cap 10.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
98
Businesses Nearby
Explore this area
Business Placement
Demographics for 71901, AR
29,363
Population
14,952
Households
2
Avg Household Size
43
Median Age
26%
College-Educated
88%
High-School Grad
101.9 sq mi
ZIP Area
288
Density / Sq Mi
$52,410
Median Household Income
$35,604
Median Earnings
$797
Median Rent
$173,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Each residence offers two bedrooms, one bath, and durable vinyl flooring.
Where is this duplex located?
The property is located at 139-141 Chelle Street Hot Springs, AR.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,476 square feet of property size; Each unit includes 2 bedrooms and 1 bathroom; 0.2‑acre lot at 139‑141 Chelle Street, Hot Springs, AR 71901
