Lakefront Residential Income
For Sale
$239,000
2311 Lakeshore Drive Unit N3, Hot Springs, AR 71913
Condominium community prohibits nightly rentals and includes assigned covered parking.
Property Size1,420 SF
Days on Market102
Property Features for 2311 Lakeshore Drive Unit N3
General Information
Standard status
Active
Size
1,420 SF
Property subtype
Condo/Townhse/Duplex/Apt
Taxes and HOA fees
Annual Taxes
$1,439
Building Details
Building Size
1,420 SF
Year Built
1980
Listing Agency:
Trademark Real Estate, Inc.
(501) 538-3546
Listed By:
Rachel Mundy
(501) 538-3546
Source:
Whitestonearkansas
Added: May 13
Changed: Aug 11
Last Checked: Aug 21 at 10:26AM
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 Trademark Real Estate, Inc.
Investment Insights
Based on property information with market context.
Lakefront condominium at 2311 Lakeshore Drive in Hot Springs, Arkansas, built in 1980. The residence features a chef’s kitchen with granite countertops and a microwave with air-fryer functions, along with a new HVAC system. Additional improvements include a grilling deck and two assigned covered parking spaces.
The community does not permit nightly rentals. There is no boat dock associated with the property, while boat docks are available to rent within the area. The lakefront setting and low-maintenance condominium format provide the primary physical and operational characteristics of this residential income property.
The community does not permit nightly rentals. There is no boat dock associated with the property, while boat docks are available to rent within the area. The lakefront setting and low-maintenance condominium format provide the primary physical and operational characteristics of this residential income property.
Key Highlights
- Lakefront condominium at 2311 Lakeshore Drive, Hot Springs, AR 71913
- Chef’s kitchen with granite countertops
- Microwave with air‑fryer functions
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
3.67%
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 3.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$259.7K
$227.2K – $303.0K
NOI $18,178 @ 7.0% cap · market cap 7.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Condominium community prohibits nightly rentals and includes assigned covered parking.
Where is this residential income property located?
The property is located at 2311 Lakeshore Drive Unit N3 Hot Springs, AR.
What is the asking price?
The asking price for this property is $239,000.
What are key features of this property?
This property features: Lakefront condominium at 2311 Lakeshore Drive, Hot Springs, AR 71913; Chef’s kitchen with granite countertops; Microwave with air‑fryer functions
