Lakefront Residential Income
For Sale
$262,000
5371 Central Avenue, Hot Springs, AR 71913
Residential, Hot Springs, AR
Property Size1,200 SF
Price / SF$218.33
Days on Market53
Property Features for 5371 Central Avenue
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 2, Bathroom 1, Bedroom 1
Parking features
Assigned
Patio and Porch features
Patio
Interior features
Wet Bar, Washer-Stays, Dryer-Stays, Water Heater-Electric, Breakfast Bar, Furnished
Exterior features
Patio
Fireplace
1
Appliances
Free-Standing Stove, Microwave, Electric Range, Dishwasher, Disposal, Refrigerator-Stays
Subdivision
EMERALD ISLE HPR
Lot features
Level, Resort Property
Directions
Hwy 7S(Central Ave.) turn left right after Jose's Mexican Restaurant 5371 Central.
Standard status
Active
Size
1,200 SF
Taxes and HOA fees
Tax Description
STR936-03S-20W)
Tax Annual Amount
1466
HOA Fee
$250 Monthly
Legal Description
STR936-03S-20W)
Building Details
Year built
1982
Flooring type
Carpet, Vinyl
Roof type
Composition
Listing Agency:
Lake Hamilton Realty, Inc.
(501) 525-1466
Listed By:
Shaunna Schanlaber · License #AB00060606
(501) 617-0631
Added: Jul 2
Changed: Aug 23
Last Checked: Aug 23 at 6:06PM
MLS# 26026693
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.
Unit 5I in the Emerald Isle Subdivision is a 1,200-square-foot condominium configured with 2 bedrooms and 2 bathrooms. The residence includes a living area with fireplace, breakfast bar, wet bar, furnished interiors, carpet and vinyl flooring, and a patio oriented toward the waterfront setting. A composition roof, electric water heater, assigned parking, and appliances that remain with the property add practical detail.
Built in 1982, the condominium is located at 5371 Central Avenue in Hot Springs, Arkansas. The property is positioned in Garland County and offers lakefront views from the residence and patio. Short-term rentals are not permitted.
Built in 1982, the condominium is located at 5371 Central Avenue in Hot Springs, Arkansas. The property is positioned in Garland County and offers lakefront views from the residence and patio. Short-term rentals are not permitted.
Key Highlights
- Lakefront condominium in Emerald Isle Subdivision
- 1,200 square feet with 2 bedrooms and 2 bathrooms
- Living area includes a fireplace, breakfast bar, and wet bar
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
$7,405
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
2.83%
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%
$148,100
$148.1K
Cap Rate 7%
$105,786
$105.8K
Cap Rate 9%
$82,278
$82.3K
Market Conditions
NOI Build-Up for 1,200 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
$14.4K $12.00/SF
− Vacancy
−$936 −$0.78/SF
EGI
$13.5K $11.22/SF
− OpEx
−$6.1K −$5.05/SF
NOI
$7.4K $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 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%
$148,100
Cap Rate 7%
$105,786
Cap Rate 9%
$82,278
Alternative Uses
Best Use
Apartment 5plus
$105.8K
$92.6K – $123.4K
NOI $7,405 @ 7.0% cap · market cap 2.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$219.5K
$192.0K – $256.0K
NOI $15,362 @ 7.0% cap · market cap 5.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
176
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Furnished condominium with two bedrooms, two full bathrooms, a fireplace, and a private patio overlooking the lake setting.
Where is this residential income property located?
The property is located at 5371 Central Avenue Hot Springs, AR.
What is the asking price?
The asking price for this property is $262,000.
What are key features of this property?
This property features: Lakefront condominium in Emerald Isle Subdivision; 1,200 square feet with 2 bedrooms and 2 bathrooms; Living area includes a fireplace, breakfast bar, and wet bar
