Residential Income Condo with Private Boat
For Sale
$268,000
2311 Lakeshore Drive, Hot Springs, AR 71913
CONDOS - Hot Springs, AR
Property Size1,408 SF
Price / SF$190.34
Days on Market34
Property Features for 2311 Lakeshore Drive
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Laundry Room, Bedroom 2, Bathroom 1, Bedroom 1
Parking features
Assigned
Fireplace
1
Appliances
Free-Standing Stove, Dishwasher, Refrigerator-Stays
Subdivision
Spring Bay HPR Phase III
Lot features
Lake View
Directions
Head toward W Grand Ave Turn right onto W Grand Ave Turn left onto Summer St At E-Z Mart, Summer St turns slightly right and becomes Albert Pike Rd Pass by Taco Bell (on the right in 0.7 mi) Use the left 2 lanes lanes to turn left onto Airport Rd
Standard status
Active
APN
400-61250-008-000
Size
1,408 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
APT M-4
Tax Annual Amount
1565
HOA Fee
$310 Monthly
Legal Description
APT M-4
Amenities
boat dock
swimming pool
Building Details
Year built
1980
Floors in Building
1
Flooring type
Tile, Laminate
Roof type
Shingle
Architectural style
Other
Listing Agency:
Signature Homes Real Estate
(501) 359-3059
Listed By:
Jeff Scott
(501) 282-7755
Added: Jul 21
Changed: Aug 4
Last Checked: Aug 23 at 4:06PM
MLS# 26029567
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.
Well-maintained two-bedroom, two-bath condo offering lake views and a private boat dock. The home is fully furnished and includes a fireplace, tile and laminate flooring, and in-unit laundry. Appliances include a free-standing stove, dishwasher, and refrigerator that stays.
Spanning 1,408 square feet and built in 1980, the condo also overlooks the inviting swimming pool area. Parking is provided with assigned parking.
Situated at 2311 Lakeshore Drive in Hot Springs, this condo is positioned for convenient access to local shopping, dining, and entertainment.
Spanning 1,408 square feet and built in 1980, the condo also overlooks the inviting swimming pool area. Parking is provided with assigned parking.
Situated at 2311 Lakeshore Drive in Hot Springs, this condo is positioned for convenient access to local shopping, dining, and entertainment.
Key Highlights
- Private boat dock with lake views
- Overlooks the swimming pool area
- 1,408 square feet
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
3.24%
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 3.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$257.5K
$225.3K – $300.4K
NOI $18,025 @ 7.0% cap · market cap 6.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
169
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom, two-bath condo with private boat dock, fireplace, and assigned parking in a lakeside setting.
Where is this residential income property located?
The property is located at 2311 Lakeshore Drive Hot Springs, AR.
What is the asking price?
The asking price for this property is $268,000.
What are key features of this property?
This property features: Private boat dock with lake views; Overlooks the swimming pool area; 1,408 square feet
