Updated Residential Income
For Sale
$194,900
208 Southridge A-1 Lane, Hot Springs, AR 71913
Residential, Hot Springs, AR
Property Size1,408 SF
Price / SF$138.42
Days on Market52
Property Features for 208 Southridge A-1 Lane
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1, Bedroom 2, Bedroom 1
Parking features
Carport
Patio and Porch features
Patio
Interior features
Washer-Stays, Dryer-Stays, Water Heater-Electric, Window Treatments, Walk-In Closet(s), Built-Ins, Ceiling Fan(s), Walk-in Shower, Breakfast Bar
Exterior features
Patio, Outside Storage Area, Guttering
Appliances
Microwave, Electric Range, Dishwasher, Pantry, Refrigerator-Stays
Subdivision
FOREST HEIGHTS HPR
Lot features
Level, Extra Landscaping, In Subdivision, River/ Lake Area, Near Bus Stop
Directions
Central Avenue to Television Hill to Southridge
Standard status
Active
Size
1,408 SF
Taxes and HOA fees
Tax Description
BLDG A UNIT 1
Tax Annual Amount
1769
HOA Fee
$230 Monthly
Legal Description
BLDG A UNIT 1
Amenities
sunroom
patio
storage unit
storm shelter
Building Details
Year built
2004
Flooring type
Tile, Vinyl
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
Southern Realty of Hot Springs, Inc.
(501) 321-2025
Listed By:
Holly Robertson · License #00051450
(501) 204-2958
Added: Aug 14
Changed: Sep 13
Last Checked: Oct 4 at 10:06PM
MLS# 26033341
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 1,408-square-foot residential income condo was built in 2004 and offers two bedrooms and two bathrooms on a walk-in level. The interior includes an extended living room, sunroom, kitchen and dining area, pantry, breakfast bar, walk-in closets, and a primary suite with a walk-in shower. New flooring and fresh paint update the living spaces, while the kitchen includes solid cabinetry, a microwave, electric range, dishwasher, and refrigerator. Washer and dryer remain with the unit.
Outdoor features include a patio with a garden area, guttering, two covered parking spaces, and an 8 x 10 storage unit across the parking lot. The storage area also includes storm shelter space. HOA coverage includes trash pickup and exterior insurance. The property is located in Hot Springs, less than 2 miles from Oaklawn Racetrack & Casino Resort Event Center & Spa.
Outdoor features include a patio with a garden area, guttering, two covered parking spaces, and an 8 x 10 storage unit across the parking lot. The storage area also includes storm shelter space. HOA coverage includes trash pickup and exterior insurance. The property is located in Hot Springs, less than 2 miles from Oaklawn Racetrack & Casino Resort Event Center & Spa.
Key Highlights
- 1,408‑square‑foot condo with 2 bedrooms and 2 bathrooms
- Walk‑in‑level layout with extended living room and sunroom
- New flooring and fresh paint throughout
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
$8,689
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
4.46%
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%
$173,780
$173.8K
Cap Rate 7%
$124,129
$124.1K
Cap Rate 9%
$96,544
$96.5K
Market Conditions
NOI Build-Up for 1,408 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
$16.9K $12.00/SF
− Vacancy
−$1.1K −$0.78/SF
EGI
$15.8K $11.22/SF
− OpEx
−$7.1K −$5.05/SF
NOI
$8.7K $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%
$173,780
Cap Rate 7%
$124,129
Cap Rate 9%
$96,544
Alternative Uses
Best Use
Apartment 5plus
$124.1K
$108.6K – $144.8K
NOI $8,689 @ 7.0% cap · market cap 4.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$257.5K
$225.3K – $300.4K
NOI $18,025 @ 7.0% cap · market cap 9.25%
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
979
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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Frequently Asked Questions
What type of property is this?
Residential income property - Walk-in-level condo with refreshed interiors, private patio, covered parking, and dedicated storage.
Where is this residential income property located?
The property is located at 208 Southridge A-1 Lane Hot Springs, AR.
What is the asking price?
The asking price for this property is $194,900.
What are key features of this property?
This property features: 1,408‑square‑foot condo with 2 bedrooms and 2 bathrooms; Walk‑in‑level layout with extended living room and sunroom; New flooring and fresh paint throughout
