Lake-View Residential Income
For Sale
$315,000
5371 Central Avenue, Hot Springs, AR 71913
Residential, Traditional, Hot Springs, AR
Property Size1,467 SF
Price / SF$214.72
Days on Market97
Property Features for 5371 Central Avenue
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Laundry Room, Bedroom 2, Bathroom 1
Patio and Porch features
Deck
Interior features
Washer Connection, Dryer Connection-Electric, Water Heater-Electric, Built-Ins, Ceiling Fan(s), Breakfast Bar
Exterior features
Deck
Fireplace
1
Appliances
Free-Standing Stove, Electric Range, Surface Range, Dishwasher, Disposal
Subdivision
EMERALD ISLE HPR
Lot features
Sloped, Lake Front
Directions
Central Avenue South
Standard status
Active
APN
200-17050-004-000
Size
1,467 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
Lot Unit 3-D Emerald Isle HPR
Tax Annual Amount
1624
HOA Fee
$250 Monthly
Legal Description
Lot Unit 3-D Emerald Isle HPR
Utilities
Water front
1
Amenities
gated community
tennis courts
fitness center
lakeside fire pit
swimming pool
beach area
kayaking
covered boat slips
Building Details
Year built
1982
Floors in Building
1
Flooring type
Vinyl
Roof type
Composition
Architectural style
Other
Listing Agency:
Partners Realty
(501) 359-3333
Listed By:
Brett Dingler · License #PB00041807
(501) 944-8100
Added: Jul 1
Changed: Oct 5
Last Checked: Oct 5 at 2:06PM
MLS# 26026555
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 1,467-square-foot upper-level condo has two bedrooms and two bathrooms, with step-free access to the unit. Built in 1982, it includes a deck, breakfast bar, built-in features, and laundry connections. Vinyl flooring and an electric water heater are also present.
Community amenities include tennis courts, a fitness center, a swimming pool beside the lake, a beach area, and kayaks for guest use. Covered boat slips can be rented by the day. Lake views are part of the property setting.
Community amenities include tennis courts, a fitness center, a swimming pool beside the lake, a beach area, and kayaks for guest use. Covered boat slips can be rented by the day. Lake views are part of the property setting.
Key Highlights
- 1,467‑square‑foot condo with two bedrooms and two bathrooms
- Upper‑level unit with no steps
- Nightly rentals allowed in the gated community
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,053
Cap Rate
2.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$181,060
$181.1K
Cap Rate 7%
$129,329
$129.3K
Cap Rate 9%
$100,589
$100.6K
Market Conditions
NOI Build-Up for 1,467 SF
Gross rent
$17.6K $12.00/SF
− Vacancy
−$1.1K −$0.78/SF
EGI
$16.5K $11.22/SF
− OpEx
−$7.4K −$5.05/SF
NOI
$9.1K $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%
$181,060
Cap Rate 7%
$129,329
Cap Rate 9%
$100,589
Alternative Uses
Best Use
Apartment 5plus
$129.3K
$113.2K – $150.9K
NOI $9,053 @ 7.0% cap · market cap 2.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$268.3K
$234.8K – $313.0K
NOI $18,780 @ 7.0% cap · market cap 5.96%
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
176
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
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Residential income property - Nightly rentals are permitted within this gated community.
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 $315,000.
What are key features of this property?
This property features: 1,467‑square‑foot condo with two bedrooms and two bathrooms; Upper‑level unit with no steps; Nightly rentals allowed in the gated community
