Waterfront Residential Income
5000 Central Avenue, Hot Springs, AR 71913
For Sale
$1,100,000
Residential, Hot Springs, AR
Property Size7,200 SF
Price / SF$152.78
Days on Market77
Property Features for 5000 Central Avenue
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Half bathrooms
Rooms
Parking features
Patio and Porch features
Exterior features
Fireplace
Appliances
Subdivision
Lot features
Elementary school
Middle school
High school
Directions
Standard status
Size
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
HOA Fee
Legal Description
Utilities
Water front
Amenities
pool
clubhouse
outdoor kitchen
boat slips
Building Details
Year built
Floors in Building
Flooring type
Roof type
Additional Structures
Listing Agency:
Trademark Real Estate, Inc.
(501) 318-3200
Listed By:
Kim Walker
(501) 844-5949
Added: Aug 26
Changed: Nov 2
Last Checked: Nov 10 at 11:06AM
MLS# 26034864
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 condominium at 5000 Central Avenue includes 7,200 square feet arranged across two levels, with five bedrooms and five bathrooms. The interior includes a great room, laundry room, multiple gathering areas, wood, tile, carpet and vinyl flooring, and a fireplace. The kitchen is equipped with a built-in stove, double oven, microwave, electric range, dishwasher, disposal, indoor grill, pantry, refrigerator, bar refrigerator, wall oven, ice machine and warming drawer.
Outdoor features include a patio, deck, porch, outside storage area and an outdoor kitchen. The property also includes boat slips, access to an inground pool and clubhouse, assigned parking, and a carport. Built in 1987, the condominium is located in Hot Springs, Arkansas, in Garland County.
Outdoor features include a patio, deck, porch, outside storage area and an outdoor kitchen. The property also includes boat slips, access to an inground pool and clubhouse, assigned parking, and a carport. Built in 1987, the condominium is located in Hot Springs, Arkansas, in Garland County.
Key Highlights
- 7,200‑square‑foot condominium arranged across two levels
- Five bedrooms and five bathrooms
- Waterfront setting with included boat slips
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,431
Cap Rate
4.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$888,620
$888.6K
Cap Rate 7%
$634,729
$634.7K
Cap Rate 9%
$493,678
$493.7K
Market Conditions
NOI Build-Up for 7,200 SF
Gross rent
$86.4K $12.00/SF
− Vacancy
−$5.6K −$0.78/SF
EGI
$80.8K $11.22/SF
− OpEx
−$36.4K −$5.05/SF
NOI
$44.4K $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%
$888,620
Cap Rate 7%
$634,729
Cap Rate 9%
$493,678
Alternative Uses
Best Use
Apartment 5plus
$634.7K
$555.4K – $740.5K
NOI $44,431 @ 7.0% cap · market cap 4.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.32M
$1.15M – $1.54M
NOI $92,172 @ 7.0% cap · market cap 8.38%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
128
Businesses Nearby
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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 - Two-level condominium with extensive living space, multiple bedrooms and baths, boat slips, pool, clubhouse, and outdoor kitchen.
Where is this residential income property located?
The property is located at 5000 Central Avenue Hot Springs, AR.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 7,200‑square‑foot condominium arranged across two levels; Five bedrooms and five bathrooms; Waterfront setting with included boat slips
