Lakefront Residential Income
For Sale
$229,000
2311 Lakeshore Drive, Hot Springs, AR 71913
Residential, Traditional, Hot Springs, AR
Property Size1,420 SF
Price / SF$161.27
Days on Market145
Property Features for 2311 Lakeshore Drive
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Laundry Room, Bedroom 1, Bathroom 2, Bathroom 1, Bedroom 2
Parking features
Assigned, Carport
Patio and Porch features
Deck
Interior features
Wet Bar, Washer Connection, Dryer Connection-Electric, Water Heater-Electric, Walk-In Closet(s), Breakfast Bar
Exterior features
Deck, Outside Storage Area
Fireplace
1
Appliances
Microwave, Electric Range, Surface Range, Dishwasher, Disposal, Trash Compactor, Ice Maker Connection, Wall Oven
Subdivision
Spring Bay HPR Phase III
Lot features
Wooded, River/ Lake Area, Lake View
Directions
From 70 West, take Left onto Lakeshore Drive, to right to 2311 Lakeshore Drive, third entrance into Spring Bay HPR to N3
Standard status
Active
Size
1,420 SF
Taxes and HOA fees
Tax Description
SPRING BAY HPR PHASE III
Tax Annual Amount
1439
HOA Fee
$312 Monthly
Legal Description
SPRING BAY HPR PHASE III
Amenities
chef's kitchen
granite countertops
new microwave/air fryer
new HVAC system
grilling deck
Building Details
Year built
1980
Floors in Building
1
Flooring type
Tile, Wood
Architectural style
Other
Additional Structures
Storage
Listing Agency:
Trademark Real Estate, Inc.
(501) 318-3200
Listed By:
Rachel Mundy
(501) 538-3546
Added: May 13
Changed: Sep 29
Last Checked: Oct 4 at 11:06PM
MLS# 26019344
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 lakefront condo offers 1,420 square feet of living space, two bedrooms, two bathrooms, a breakfast bar, wet bar, and walk-in closet. The kitchen has granite countertops, an electric range, wall oven, dishwasher, disposal, and microwave with air-fryer functionality. A new HVAC system, laundry connections, tile and wood flooring, and a fireplace are also part of the unit. Outdoor features include a deck and outside storage area.
The property is in Hot Springs, Arkansas, and includes two assigned covered parking spaces. There is no boat dock; boat docks are available to rent in the community. Nightly rentals are not permitted in the community.
The property is in Hot Springs, Arkansas, and includes two assigned covered parking spaces. There is no boat dock; boat docks are available to rent in the community. Nightly rentals are not permitted in the community.
Key Highlights
- Lakefront condo with 1,420 square feet of living space
- Two bedrooms and two bathrooms
- Two assigned covered parking spaces
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
$8,763
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
3.83%
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%
$175,260
$175.3K
Cap Rate 7%
$125,186
$125.2K
Cap Rate 9%
$97,367
$97.4K
Market Conditions
NOI Build-Up for 1,420 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
$17.0K $12.00/SF
− Vacancy
−$1.1K −$0.78/SF
EGI
$15.9K $11.22/SF
− OpEx
−$7.2K −$5.05/SF
NOI
$8.8K $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%
$175,260
Cap Rate 7%
$125,186
Cap Rate 9%
$97,367
Alternative Uses
Best Use
Apartment 5plus
$125.2K
$109.5K – $146.1K
NOI $8,763 @ 7.0% cap · market cap 3.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$259.7K
$227.2K – $303.0K
NOI $18,178 @ 7.0% cap · market cap 7.94%
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
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
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Frequently Asked Questions
What type of property is this?
Residential income property - The 1,420-square-foot condo includes two assigned covered parking spaces and a deck.
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 $229,000.
What are key features of this property?
This property features: Lakefront condo with 1,420 square feet of living space; Two bedrooms and two bathrooms; Two assigned covered parking spaces
