Lake-View Residential Income
For Sale
$243,500
32 Majorca Drive, Hot Springs Village, AR 71909
The single-level home includes three bedrooms, two bathrooms, and a two-car garage.
Property Size1,429 SF
Price / SF$170.40
Days on Market18
Property Features for 32 Majorca Drive
General Information
Standard status
Active
Size
1,429 SF
Total Parking Spaces
2
Property subtype
Condo/Townhse/Duplex/Apt
Units
Unit Mix
1 x 3BR/2BA
Multifamily Units
1
Additional Details
Furnished
Yes
Amenities
lake view
Building Details
Year Built
1995
Stories
1
Listing Agency:
Hot Springs Village Real Estate
(501) 922-5252
Listed By:
Sandy Carle
(501) 984-2180
Source:
Blairrealtors
Added: Oct 14
Changed: Oct 30
Last Checked: Oct 30 at 2:55PM
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 Hot Springs Village Real Estate
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Investment Insights
Based on property information with market context.
This 1,429-square-foot, single-level residence was built in 1995 and has three bedrooms, two bathrooms, and a two-car garage. A lake view is among its features. Furnishings, appliances, equipment, and accessories are included in the sale.
The property is in Hot Springs Village, minutes from the Glazy Peau Gate.
The property is in Hot Springs Village, minutes from the Glazy Peau Gate.
Key Highlights
- 1,429‑square‑foot single‑level residence
- Three bedrooms and two bathrooms
- Lake view
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,818
Cap Rate
3.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$176,360
$176.4K
Cap Rate 7%
$125,971
$126.0K
Cap Rate 9%
$97,978
$98.0K
Market Conditions
NOI Build-Up for 1,429 SF
Gross rent
$17.1K $12.00/SF
− Vacancy
−$1.1K −$0.78/SF
EGI
$16.0K $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%
$176,360
Cap Rate 7%
$125,971
Cap Rate 9%
$97,978
Alternative Uses
Best Use
Apartment 5plus
$126.0K
$110.2K – $147.0K
NOI $8,818 @ 7.0% cap · market cap 3.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$261.3K
$228.7K – $304.9K
NOI $18,293 @ 7.0% cap · market cap 7.51%
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
30
Businesses Nearby
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Business Placement
Demographics for 71909, AR
17,935
Population
10,563
Households
1.7
Avg Household Size
67
Median Age
33%
College-Educated
97%
High-School Grad
79.3 sq mi
ZIP Area
226
Density / Sq Mi
$69,171
Median Household Income
$31,165
Median Earnings
$1,143
Median Rent
$255,600
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The single-level home includes three bedrooms, two bathrooms, and a two-car garage.
Where is this residential income property located?
The property is located at 32 Majorca Drive Hot Springs Village, AR.
What is the asking price?
The asking price for this property is $243,500.
What are key features of this property?
This property features: 1,429‑square‑foot single‑level residence; Three bedrooms and two bathrooms; Lake view
