Two-Bedroom Residential Income
For Sale
$195,000
2315 Lakeshore Drive #J1, Hot Springs, AR 71913
A ground-level layout includes ramp access and covered parking beside the entrance.
Property Size1,420 SF
Price / SF$137.32
Days on Market22
Property Features for 2315 Lakeshore Drive #J1
General Information
Standard status
Active
Size
1,420 SF
Property subtype
Condo/Townhse/Duplex/Apt
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Amenities
wheelchair-accessible ramp
private back patio
covered parking
additional storage space
Building Details
Year Built
1980
Listing Agency:
McGraw Realtors - HS
(501) 881-3331
Listed By:
Eric Billingsley
(501) 547-2997
Source:
Blairrealtors
Added: Oct 15
Changed: Nov 4
Last Checked: Nov 4 at 6:09AM
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 McGraw Realtors - HS
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Investment Insights
Based on property information with market context.
This 1,420-square-foot, two-bedroom, two-bathroom condo is in the Spring Bay community. Its lower-level, walk-in configuration has a wheelchair-accessible ramp to the front door. Interior features include Luxury Vinyl Plank flooring throughout, fresh paint, and a primary bedroom with two walk-in closets. The unit also has a private rear patio overlooking a stream, storage beneath the home, and covered parking at the entrance.
A new water heater was installed in 2025, and the refrigerator is included in the sale. The property is being sold as-is, with a one-year home warranty provided by the seller.
A new water heater was installed in 2025, and the refrigerator is included in the sale. The property is being sold as-is, with a one-year home warranty provided by the seller.
Key Highlights
- 1,420‑square‑foot condo with 2 bedrooms and 2 bathrooms
- Lower‑level, walk‑in unit with ramp access to the front door
- Luxury Vinyl Plank flooring throughout; no carpet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,763
Cap Rate
4.49%
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 4.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$259.7K
$227.2K – $303.0K
NOI $18,178 @ 7.0% cap · market cap 9.32%
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 - A ground-level layout includes ramp access and covered parking beside the entrance.
Where is this residential income property located?
The property is located at 2315 Lakeshore Drive #J1 Hot Springs, AR.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: 1,420‑square‑foot condo with 2 bedrooms and 2 bathrooms; Lower‑level, walk‑in unit with ramp access to the front door; Luxury Vinyl Plank flooring throughout; no carpet
