Lakefront Residential Income
451 Lakeland Drive, Hot Springs, AR 71913
For Sale
$499,000
Residential, Townhouse, Hot Springs, AR
Property Size3,168 SF
Price / SF$157.51
Days on Market234
Property Features for 451 Lakeland Drive
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking features
Spa
Interior features
Exterior features
Fencing
Appliances
Subdivision
Lot features
Directions
Standard status
APN
Size
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
HOA Fee
Legal Description
Utilities
Water front features
Water front
Amenities
gated
pool
hot tub
clubhouse
balcony
Building Details
Year built
Floors in Building
Flooring type
Roof type
Architectural style
Additional Structures
Listing Agency:
ArkBest Realty, Inc.
(501) 374-7222
Listed By:
Camme Fell · License AR SA00076597
(501) 374-7222
Added: Mar 27
Changed: Nov 2
Last Checked: Nov 15 at 5:06AM
MLS# 26011885
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 3,168-square-foot residential income property is arranged with a private master suite on the upper level and two additional bedrooms on the main floor. The interior includes three bathrooms, a breakfast bar, dry bar, built-ins, walk-in closets, a walk-in shower, laundry connections, and furnishings. A garage, full fencing, composition roof, tile and carpet flooring, and two balconies add to the configuration. The property was built in 2005.
Set within a gated condominium complex on Lake Hamilton, the property includes access to shared recreational amenities such as an inground pool, hot tub, clubhouse party room, cabana or pool house, and restrooms. The waterfront setting is within a deep-water cove. No boat slip is included, while short-term tie-ups are allowed at existing docks; Hot Springs Marina is less than 1/8 mile down the cove and offers boat concierge service.
Set within a gated condominium complex on Lake Hamilton, the property includes access to shared recreational amenities such as an inground pool, hot tub, clubhouse party room, cabana or pool house, and restrooms. The waterfront setting is within a deep-water cove. No boat slip is included, while short-term tie-ups are allowed at existing docks; Hot Springs Marina is less than 1/8 mile down the cove and offers boat concierge service.
Key Highlights
- 3,168 SF residential income property
- Three‑bedroom layout with the primary suite upstairs
- Waterfront setting on Lake Hamilton in a deep‑water cove
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,550
Cap Rate
3.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$391,000
$391.0K
Cap Rate 7%
$279,286
$279.3K
Cap Rate 9%
$217,222
$217.2K
Market Conditions
NOI Build-Up for 3,168 SF
Gross rent
$38.0K $12.00/SF
− Vacancy
−$2.5K −$0.78/SF
EGI
$35.5K $11.22/SF
− OpEx
−$16.0K −$5.05/SF
NOI
$19.5K $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%
$391,000
Cap Rate 7%
$279,286
Cap Rate 9%
$217,222
Alternative Uses
Best Use
Apartment 5plus
$279.3K
$244.4K – $325.8K
NOI $19,550 @ 7.0% cap · market cap 3.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$579.4K
$506.9K – $675.9K
NOI $40,555 @ 7.0% cap · market cap 8.13%
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
236
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
$179,200
Median Home Value
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Market
Average Price Trend$/SF for Residential income properties in Hot Springs, AR
Properties on Market for Residential income properties in Hot Springs
Frequently Asked Questions
What type of property is this?
Residential income property - Three-bedroom condo with gated amenities, balconies, and access to a deep-water cove.
Where is this residential income property located?
The property is located at 451 Lakeland Drive Hot Springs, AR.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 3,168 SF residential income property; Three‑bedroom layout with the primary suite upstairs; Waterfront setting on Lake Hamilton in a deep‑water cove
