Lakefront Residential Income
For Sale
$499,000
451 Lakeland Drive, Hot Springs, AR 71913
Residential, Townhouse, Hot Springs, AR
Property Size3,168 SF
Price / SF$157.51
Days on Market193
Property Features for 451 Lakeland Drive
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bedroom 3, Bathroom 3, Bathroom 1, Bedroom 1, Laundry Room, Bedroom 2
Parking features
Garage
Spa
1
Interior features
Dry Bar, Washer Connection, Dryer Connection-Electric, Dryer-Stays, Water Heater-Electric, Whirlpool/Hot Tub/Spa, Smoke Detector(s), Walk-In Closet(s), Built-Ins, Ceiling Fan(s), Walk-in Shower, Breakfast Bar, Furnished, Wired for Highspeed Inter
Exterior features
Fully Fenced, Inground Pool, Guttering, Hot Tub/Spa, Lawn Sprinkler, Cabana/Pool House, Seawall
Fencing
Full
Appliances
Free-Standing Stove, Electric Range, Dishwasher, Disposal, Refrigerator-Stays
Subdivision
Lakeland Harbor Phase 1
Lot features
Level, Extra Landscaping, In Subdivision, Lake View, Lake Front, Waterfront
Directions
Central Ave to Lakeland Dr
Standard status
Active
APN
400-39530-034-000
Size
3,168 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
BLDG G UNIT 4
Tax Annual Amount
3884
HOA Fee
$498 Monthly
Legal Description
BLDG G UNIT 4
Utilities
Water front features
Lake
Water front
1
Amenities
pool
hot tub
clubhouse
party room
restrooms
gated complex
two balconies
Building Details
Year built
2005
Floors in Building
2
Flooring type
Tile, Carpet
Roof type
Composition
Architectural style
Other
Additional Structures
Cabana
Listing Agency:
ArkBest Realty, Inc.
(501) 374-7222
Listed By:
Camme Fell · License ##SA00076597
(501) 374-7222
Added: Mar 27
Changed: Sep 13
Last Checked: Oct 5 at 2:06AM
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.
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$19,550
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.92%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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
