Furnished Duplex with Two
For Sale
$238,000
214 Elizabeth Terrace, Hot Springs, AR 71901
Two furnished residences offer city-permitted short-term rental use and a shared laundry area.
Property Size1,600 SF
Lot Size0.40 Acres
Price / SF$148.75
Days on Market43
Property Features for 214 Elizabeth Terrace
General Information
Standard status
Active
Size
1,600 SF
Lot size
0.40 Acres
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Furnished
Yes
Amenities
shared laundry area
Building Details
Year Built
1925
Year Renovated
2017
Listing Agency:
Epique Realty
(501) 209-1773
Listed By:
Dakota Wright
(501) 209-1773
Source:
Arprorealty
Added: Jul 20
Changed: Aug 29
Last Checked: Aug 30 at 5:21PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Epique Realty
Investment Insights
Based on property information with market context.
This duplex provides 1,600 square feet across two furnished residences. Unit A contains 3 bedrooms and 1 bathroom, while Unit B has 2 bedrooms and 1 bathroom. A shared laundry area is located at the rear of the property.
Built in 1925 and remodeled in 2017, the property combines an older structure with updated improvements. The city permits short-term rentals, and the duplex is currently operated as a licensed Airbnb. The property sits on a 0.40-acre lot at 214 Elizabeth Terrace in Hot Springs, Arkansas.
Built in 1925 and remodeled in 2017, the property combines an older structure with updated improvements. The city permits short-term rentals, and the duplex is currently operated as a licensed Airbnb. The property sits on a 0.40-acre lot at 214 Elizabeth Terrace in Hot Springs, Arkansas.
Key Highlights
- Two‑unit duplex with 1,600 square feet of building area
- Unit A: 3 bedrooms and 1 bathroom
- Unit B: 2 bedrooms and 1 bathroom
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
$10,567
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
4.44%
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%
$211,340
$211.3K
Cap Rate 7%
$150,957
$151.0K
Cap Rate 9%
$117,411
$117.4K
Market Conditions
NOI Build-Up for 1,600 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
$16.3K $10.20/SF
− Vacancy
−$1.2K −$0.77/SF
EGI
$15.1K $9.44/SF
− OpEx
−$4.5K −$2.83/SF
NOI
$10.6K $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%
$211,340
Cap Rate 7%
$150,957
Cap Rate 9%
$117,411
Alternative Uses
Best Use
Multifamily LT 5
$151.0K
$132.1K – $176.1K
NOI $10,567 @ 7.0% cap · market cap 4.44%
Second Best
Apartment 5plus
$141.1K
$123.4K – $164.6K
NOI $9,874 @ 7.0% cap · market cap 4.15%
Theoretical Best
Office A
$292.6K
$256.0K – $341.4K
NOI $20,483 @ 7.0% cap · market cap 8.61%
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
121
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 - Two furnished residences offer city-permitted short-term rental use and a shared laundry area.
Where is this duplex located?
The property is located at 214 Elizabeth Terrace Hot Springs, AR.
What is the asking price?
The asking price for this property is $238,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,600 square feet of building area; Unit A: 3 bedrooms and 1 bathroom; Unit B: 2 bedrooms and 1 bathroom
