Furnished Lakefront Rental
For Sale
$324,900
141 Central Ter, Hot Springs, AR 71913
Residential, Traditional, Hot Springs, AR
Property Size1,554 SF
Price / SF$209.07
Days on Market349
Property Features for 141 Central Ter
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Laundry Room, Bedroom 2, Bathroom 2, Bathroom 1
Parking features
Assigned
Patio and Porch features
Patio
Interior features
Wet Bar, Washer Connection, Washer-Stays, Dryer Connection-Electric, Dryer-Stays, Water Heater-Electric, Ceiling Fan(s), Walk-in Shower, Breakfast Bar, Furnished, Kit Counter- Granite Slab
Exterior features
Patio, Outside Storage Area
Fireplace
1
Appliances
Microwave, Electric Range, Dishwasher, Refrigerator-Stays
Subdivision
CENTRAL TERRACE CONDOMINIUMS HPR
Lot features
In Subdivision, Lake View
Directions
From Hot Springs, travel South on Central Avenue/HWY 7, turn left onto Central Terrace.
Standard status
Active
APN
200-09826-002-000
Size
1,554 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
Unit B Central Terrace
Tax Annual Amount
2621
HOA Fee
$175 Monthly
Legal Description
Unit B Central Terrace
Utilities
Water front
1
Amenities
private balcony
Building Details
Year built
2007
Flooring type
Tile, Wood, Carpet
Roof type
Shingle
Architectural style
Other
Additional Structures
Storage
Listing Agency:
Hot Springs 1st Choice Realty
(501) 525-1600
Listed By:
David Ratcliffe · License #EB00086961
(501) 520-1501
Added: Oct 22, 2025
Changed: Oct 5
Last Checked: Oct 5 at 12:06PM
MLS# 25042340
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 1,554-square-foot condo is configured with two bedrooms and two bathrooms and is furnished. Interior features include an open living area, a kitchen with granite counters and a breakfast bar, a wet bar, and a fireplace. A private balcony and outside storage provide additional usable space. The unit also has a washer and dryer, electric range, microwave, dishwasher, and refrigerator. Built in 2007, the property has assigned parking and tile, wood, and carpet flooring.
The condo sits directly on Lake Hamilton and is an active short-term rental. Oaklawn Racing Casino Resort is about 10 minutes away, with shopping, restaurants, and downtown Hot Springs attractions also nearby. The Lakeside School District serves the property.
The condo sits directly on Lake Hamilton and is an active short-term rental. Oaklawn Racing Casino Resort is about 10 minutes away, with shopping, restaurants, and downtown Hot Springs attractions also nearby. The Lakeside School District serves the property.
Key Highlights
- 1,554 square feet with 2 bedrooms and 2 bathrooms
- Directly on Lake Hamilton with a private balcony
- Active short‑term rental; furnishings remain
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,590
Cap Rate
2.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$191,800
$191.8K
Cap Rate 7%
$137,000
$137.0K
Cap Rate 9%
$106,556
$106.6K
Market Conditions
NOI Build-Up for 1,554 SF
Gross rent
$18.6K $12.00/SF
− Vacancy
−$1.2K −$0.78/SF
EGI
$17.4K $11.22/SF
− OpEx
−$7.8K −$5.05/SF
NOI
$9.6K $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 Rate 5%
$191,800
Cap Rate 7%
$137,000
Cap Rate 9%
$106,556
Alternative Uses
Best Use
Apartment 5plus
$137.0K
$119.9K – $159.8K
NOI $9,590 @ 7.0% cap · market cap 2.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$284.2K
$248.7K – $331.6K
NOI $19,894 @ 7.0% cap · market cap 6.12%
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
166
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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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Short term rental property - The two-bedroom, two-bathroom unit features a private balcony, assigned parking, and furnishings that remain with the property.
Where is this short term rental property located?
The property is located at 141 Central Ter Hot Springs, AR.
What is the asking price?
The asking price for this property is $324,900.
What are key features of this property?
This property features: 1,554 square feet with 2 bedrooms and 2 bathrooms; Directly on Lake Hamilton with a private balcony; Active short‑term rental; furnishings remain
