Duplex with Community Dock
For Sale
$410,000
181 Fish Hatchery Road, Hot Springs, AR 71913
Residential, Traditional, Hot Springs, AR
Property Size1,776 SF
Price / SF$230.86
Days on Market99
Property Features for 181 Fish Hatchery Road
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
3
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 2, Bathroom 3, Laundry Room, Bedroom 3, Bedroom 1, Bathroom 1, Bathroom 2
Patio and Porch features
Patio, Porch
Interior features
Washer Connection, Dryer Connection-Electric, Water Heater-Electric, Smoke Detector(s), Walk-In Closet(s), Ceiling Fan(s), Breakfast Bar, Kit Counter- Granite Slab
Exterior features
Patio, Porch, Guttering, Boat Dock
Appliances
Free-Standing Stove, Microwave, Electric Range, Dishwasher, Disposal, Pantry, Ice Maker Connection
Subdivision
BLUE HERON HPR
Lot features
Level, Lake View
Directions
Take Hwy 7 South, Turn left on Hwy 290, left on Fish Hatchery Rd. Unit is M3
Standard status
Active
APN
200-05415-007-000
Size
1,776 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
Unit M3-Blue Heron HPR
Tax Annual Amount
2711
HOA Fee
$300 Monthly
Legal Description
Unit M3-Blue Heron HPR
Utilities
Water front
1
Amenities
community pool
boat dock
Building Details
Year built
2006
Floors in Building
2
Flooring type
Tile, Vinyl
Roof type
Shingle
Architectural style
Other
Listing Agency:
Realty One Group - Pinnacle
(501) 653-7537
Listed By:
RJ Hawk
(501) 269-7522
Added: Jun 2
Changed: Sep 7
Last Checked: Sep 8 at 1:06AM
MLS# 26022148
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 1,776-square-foot duplex in Hot Springs was built in 2006 and features three bedrooms, three bathrooms, and a two-level arrangement with entertaining space downstairs and the bedrooms above. Interior details include a granite-slab kitchen counter, breakfast bar, walk-in closets, ceiling fans, electric water heater, washer and dryer connections, and smoke detectors. The kitchen includes an electric range, microwave, dishwasher, disposal, pantry, and ice maker connection. Vinyl and tile flooring are used throughout, with a shingle roof and exterior patio, porch, and gutters.
Located at 181 Fish Hatchery Road near Lake Hamilton, the property is steps from a community pool and boat dock. Short-term rentals are allowed, providing an explicitly supported rental-use option. The property is in Hot Springs, Garland County, with postal code 71913.
Located at 181 Fish Hatchery Road near Lake Hamilton, the property is steps from a community pool and boat dock. Short-term rentals are allowed, providing an explicitly supported rental-use option. The property is in Hot Springs, Garland County, with postal code 71913.
Key Highlights
- 1,776 square feet with three bedrooms and three bathrooms
- Short‑term rentals are allowed
- Community pool and boat dock are steps from the unit
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
$11,730
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
2.86%
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%
$234,600
$234.6K
Cap Rate 7%
$167,571
$167.6K
Cap Rate 9%
$130,333
$130.3K
Market Conditions
NOI Build-Up for 1,776 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
$18.1K $10.20/SF
− Vacancy
−$1.4K −$0.77/SF
EGI
$16.8K $9.44/SF
− OpEx
−$5.0K −$2.83/SF
NOI
$11.7K $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%
$234,600
Cap Rate 7%
$167,571
Cap Rate 9%
$130,333
Alternative Uses
Best Use
Multifamily LT 5
$167.6K
$146.6K – $195.5K
NOI $11,730 @ 7.0% cap · market cap 2.86%
Second Best
Apartment 5plus
$156.6K
$137.0K – $182.7K
NOI $10,960 @ 7.0% cap · market cap 2.67%
Theoretical Best
Office A
$324.8K
$284.2K – $378.9K
NOI $22,736 @ 7.0% cap · market cap 5.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
16
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 - Two-level layout places entertaining space downstairs with all bedrooms upstairs near Lake Hamilton amenities.
Where is this duplex located?
The property is located at 181 Fish Hatchery Road Hot Springs, AR.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: 1,776 square feet with three bedrooms and three bathrooms; Short‑term rentals are allowed; Community pool and boat dock are steps from the unit
