Duplex with Boat
For Sale
$410,000
181 Fish Hatchery Road, Hot Springs, AR 71913
CONDOS - Hot Springs, AR
Property Size1,776 SF
Price / SF$230.86
Days on Market83
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
Laundry Room, Bedroom 1, Bathroom 2, Bathroom 1, Bathroom 3, Bedroom 3, Bedroom 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: Aug 4
Last Checked: Aug 23 at 8:06AM
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.
Duplex property near Lake Hamilton built in 2006, offering 1,776 square feet of interior space arranged with bedrooms upstairs and additional entertaining space downstairs. Interior features include washer and dryer connections, an electric water heater, smoke detectors, walk-in closets, ceiling fans, and a breakfast bar with a granite-slab kitchen countertop. Flooring includes tile and vinyl.
Exterior amenities include a porch, patio, and guttering, along with a boat dock. A community pool is steps away from the unit, providing shared recreational space.
The property allows short-term rentals, supporting use as a flexible investment or live-in arrangement. Appliances include a free-standing stove, microwave, electric range, dishwasher, disposal, pantry items, and an ice maker connection. This is positioned for convenient showings for prospective buyers.
Exterior amenities include a porch, patio, and guttering, along with a boat dock. A community pool is steps away from the unit, providing shared recreational space.
The property allows short-term rentals, supporting use as a flexible investment or live-in arrangement. Appliances include a free-standing stove, microwave, electric range, dishwasher, disposal, pantry items, and an ice maker connection. This is positioned for convenient showings for prospective buyers.
Key Highlights
- Duplex property built in 2006
- 1,776 SF with bedrooms upstairs and entertaining downstairs
- Steps to a community pool
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
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex near Lake Hamilton with community pool access and an on-site boat dock for residents and guests.
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: Duplex property built in 2006; 1,776 SF with bedrooms upstairs and entertaining downstairs; Steps to a community pool
