Gated Upper-Level Condo with No
For Sale
$315,000
5371 Central Avenue Unit 3D, Hot Springs, AR 71913
Upper-level condo in a gated community allowing nightly rentals, offering lake views and resort-style amenities.
Property Size1,467 SF
Days on Market42
Property Features for 5371 Central Avenue Unit 3D
General Information
Standard status
Active
Size
1,467 SF
Property subtype
Condo/Townhse/Duplex/Apt
Taxes and HOA fees
Annual Taxes
$1,623
Amenities
gated community
tennis courts
fitness center
lakeside fire pit
lake-side swimming pool
beach area
kayaking
Building Details
Building Size
1,467 SF
Year Built
1982
Listing Agency:
Partners Realty
(501) 944-8100
Listed By:
Brett Dingler · License #PB00041807
(501) 944-8100
Source:
Whitestonearkansas
Added: Jul 1
Changed: Aug 8
Last Checked: Aug 10 at 9:47AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Partners Realty
Investment Insights
Based on property information with market context.
Enjoy the privacy of an upper-level condo designed for easy access with no steps. Located within a gated community that allows nightly rentals, the home is set up for short-term guests while providing a comfortable, lock-and-leave lifestyle. Built in 1982, the condo complex features an extensive amenity package centered on lake living.
Residents and guests can enjoy tennis courts, a fitness center, and a lakeside fire pit, along with an on-site lake-side swimming pool and beach area. Provided kayaks are available for paddling, and covered boat slips are offered for daily rental for convenient water access. The community setting includes peaceful lake views on Lake Hamilton.
This condominium community combines flexible nightly-rental allowance with a full set of recreational features for stays on the lake.
Residents and guests can enjoy tennis courts, a fitness center, and a lakeside fire pit, along with an on-site lake-side swimming pool and beach area. Provided kayaks are available for paddling, and covered boat slips are offered for daily rental for convenient water access. The community setting includes peaceful lake views on Lake Hamilton.
This condominium community combines flexible nightly-rental allowance with a full set of recreational features for stays on the lake.
Key Highlights
- Upper‑level condo with no steps
- Gated community allowing nightly rentals
- Peaceful lake views on Lake Hamilton
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
$9,053
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
2.87%
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%
$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
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
$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 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%
$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
Property Profile
Current Use
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Short term rental property - Upper-level condo in a gated community allowing nightly rentals, offering lake views and resort-style amenities.
Where is this short term rental property located?
The property is located at 5371 Central Avenue Unit 3D 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: Upper‑level condo with no steps; Gated community allowing nightly rentals; Peaceful lake views on Lake Hamilton
