Furnished Residential Income
For Sale
$339,999
451 Lakeland Drive, Hot Springs, AR 71913
Residential, Traditional, Hot Springs, AR
Property Size3,168 SF
Price / SF$107.32
Days on Market350
Property Features for 451 Lakeland Drive
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Den, Bathroom 3, Bedroom 1, Game Room, Bonus Room, Bathroom 2, Bedroom 2, Bathroom 1, Laundry Room
Parking features
Garage
Fireplace
1
Appliances
Free-Standing Stove, Microwave, Electric Range, Dishwasher, Disposal, Refrigerator-Stays
Subdivision
LAKELAND HARBOR HPR
Lot features
Level, Cul-de-sac, Resort Property, Extra Landscaping, In Subdivision
Directions
Central Avenue South (7S), left on Lakeland Drive, property sits on the left.
Standard status
Active
APN
400-39530-012-000
Size
3,168 SF
Taxes and HOA fees
Tax Year
2024
Tax Description
Bldg B Unit 2
Tax Annual Amount
3110
HOA Fee
$275 Monthly
Legal Description
Bldg B Unit 2
Amenities
gated community
pool
hot tub
Building Details
Year built
2005
Floors in Building
2
Flooring type
Tile, Carpet
Roof type
Composition
Architectural style
Other
Listing Agency:
Partners Realty
(501) 359-3333
Listed By:
Brett Dingler · License #PB00041807
(501) 944-8100
Added: Oct 23, 2025
Changed: Oct 5
Last Checked: Oct 7 at 4:06AM
MLS# 25042661
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.
Investment Insights
Based on property information with market context.
This 3,168-square-foot condominium has three bedrooms and three bathrooms, with two primary suites, an office and a game room. The residence was built in 2005 and is offered with furniture, linens, kitchenware and televisions. Tile and carpet flooring, a fireplace and a garage are also included among its features.
The unit is within a gated condominium community just off Central Avenue in Hot Springs. A pool and hot tub are located steps from the back door. No boat slip is included.
The unit is within a gated condominium community just off Central Avenue in Hot Springs. A pool and hot tub are located steps from the back door. No boat slip is included.
Key Highlights
- 3,168‑square‑foot condominium with 3 bedrooms and 3 bathrooms
- Two primary suites, plus office and game room
- Sale includes furniture, linens, dishes, cookware, silverware and TVs
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,550
Cap Rate
5.75%
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 5.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$579.4K
$506.9K – $675.9K
NOI $40,555 @ 7.0% cap · market cap 11.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
236
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
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Frequently Asked Questions
What type of property is this?
Residential income property - The 3-bedroom, 3-bath residence includes two primary suites, an office and a game room.
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 $339,999.
What are key features of this property?
This property features: 3,168‑square‑foot condominium with 3 bedrooms and 3 bathrooms; Two primary suites, plus office and game room; Sale includes furniture, linens, dishes, cookware, silverware and TVs
