Residential Condo with Three
New
For Sale
$168,500
2315 Lakeshore Drive, Hot Springs, AR 71913
Residential, Traditional, Hot Springs, AR
Property Size1,420 SF
Price / SF$118.66
Days on Market7
Property Features for 2315 Lakeshore Drive
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 1, Great Room, Bathroom 1, Bedroom 2
Parking features
Carport
Fireplace
1
Appliances
Dishwasher, Disposal, Electric Range, Ice Maker Connection, Refrigerator-Stays
Subdivision
Spring Bay HPR Phase I
Lot features
Level, Sloped
Directions
70 West to Lakeshore Drive. Turn onto Lakeshore at the light and the condo have 3 entrances - look at the rock walls on the Right side and turn at the 2nd Entrance. Condo is across from the pool.
Standard status
Active
Size
1,420 SF
Taxes and HOA fees
Tax Description
Lot 0H3/ Bk 0 Spring Bay HPR
Tax Annual Amount
1461
HOA Fee
$312 Monthly
Legal Description
Lot 0H3/ Bk 0 Spring Bay HPR
Amenities
custom hand painted murals
fireplace
deck
front porch
built-in bar
decorative lighting
refrigerator
trash compactor
dishwasher
electric range/oven
smart flood lights
washer/dryer
Building Details
Year built
1980
Floors in Building
2
Flooring type
Vinyl, Laminate
Roof type
Shingle
Architectural style
Other
Listing Agency:
Exp Realty
(866) 720-5056
Listed By:
Elizabeth Mackenzie
(501) 773-4521
Added: Oct 30
Last Checked: Nov 5 at 5:06AM
MLS# 26043762
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.
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Investment Insights
Based on property information with market context.
This two-bedroom condo contains 1,420 square feet, with a great room, fireplace, built-in bar and three decks plus a front porch. Custom painted murals and decorative lighting add distinctive interior details. The kitchen includes a refrigerator, trash compactor, dishwasher and electric range/oven; a washer and dryer also convey. Carport parking is provided.
The condo backs to Lake Hamilton and is shaded by surrounding trees. Built in 1980, it has a shingle roof that is 1 year old, a regularly serviced HVAC system, an air conditioner that is 9 years old and a brand-new water heater. Four smart flood lights are included. Rental agreements must run for at least one year; short-term rentals are not allowed.
The condo backs to Lake Hamilton and is shaded by surrounding trees. Built in 1980, it has a shingle roof that is 1 year old, a regularly serviced HVAC system, an air conditioner that is 9 years old and a brand-new water heater. Four smart flood lights are included. Rental agreements must run for at least one year; short-term rentals are not allowed.
Key Highlights
- Condo backs to Lake Hamilton
- 1,420 square feet with two bedrooms
- Three decks and a front porch
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,763
Cap Rate
5.20%
Suggested Prices Based on Cap Rates
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
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 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 5.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$259.7K
$227.2K – $303.0K
NOI $18,178 @ 7.0% cap · market cap 10.79%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
169
Businesses Nearby
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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 - Rental use is limited to leases with a minimum term of one year.
Where is this residential income property located?
The property is located at 2315 Lakeshore Drive Hot Springs, AR.
What is the asking price?
The asking price for this property is $168,500.
What are key features of this property?
This property features: Condo backs to Lake Hamilton; 1,420 square feet with two bedrooms; Three decks and a front porch
