Remodeled Residential Income
585 Belvedere Dr, Hot Springs, AR 71901
For Sale
New
$135,000
Residential, Townhouse, Hot Springs, AR
Property Size1,492 SF
Price / SF$90.48
Days on Market3
Property Features for 585 Belvedere Dr
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Half bathrooms
Rooms
Parking features
Appliances
Subdivision
Lot features
Elementary school
Middle school
High school
Directions
Standard status
Size
Taxes and HOA fees
Tax Description
Tax Annual Amount
HOA Fee
Legal Description
Building Details
Year built
Floors in Building
Flooring type
Roof type
Architectural style
Listing Agency:
Keller Williams Realty Hot Springs
(501) 907-5959
Listed By:
Jason Edington · License AR AB56069
(870) 210-1445
Added: Nov 13
Last Checked: Nov 15 at 4:06PM
MLS# 26045653
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 1,492-square-foot residential income property in Hot Springs has two bedrooms and 2.5 bathrooms. Interior finishes have been remodeled; the HVAC system and windows were not part of that work. Vinyl and tile flooring, a shingle roof, and a carport are among the property’s features. Built in 1979, the residence includes a dishwasher, disposal, electric range, free-standing stove, microwave, refrigerator, and trash compactor.
The setting overlooks a former golf course, with open surroundings. Shopping, restaurants, entertainment, and other amenities in Hot Springs are described as minutes away.
The setting overlooks a former golf course, with open surroundings. Shopping, restaurants, entertainment, and other amenities in Hot Springs are described as minutes away.
Key Highlights
- 1,492‑square‑foot residence with 2 bedrooms and 2.5 bathrooms
- Interior remodeling; HVAC system and windows were not included
- Carport parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,207
Cap Rate
6.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$184,140
$184.1K
Cap Rate 7%
$131,529
$131.5K
Cap Rate 9%
$102,300
$102.3K
Market Conditions
NOI Build-Up for 1,492 SF
Gross rent
$17.9K $12.00/SF
− Vacancy
−$1.2K −$0.78/SF
EGI
$16.7K $11.22/SF
− OpEx
−$7.5K −$5.05/SF
NOI
$9.2K $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%
$184,140
Cap Rate 7%
$131,529
Cap Rate 9%
$102,300
Alternative Uses
Best Use
Apartment 5plus
$131.5K
$115.1K – $153.5K
NOI $9,207 @ 7.0% cap · market cap 6.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$272.9K
$238.8K – $318.3K
NOI $19,100 @ 7.0% cap · market cap 14.15%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
28
Businesses Nearby
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Business Placement
Demographics for 71901, AR
29,363
Population
14,952
Households
2
Avg Household Size
43
Median Age
26%
College-Educated
88%
High-School Grad
101.9 sq mi
ZIP Area
288
Density / Sq Mi
$52,410
Median Household Income
$35,604
Median Earnings
$797
Median Rent
$173,400
Median Home Value
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Market
Average Price Trend$/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 - The two-bedroom, 2.5-bath residence has updated interior finishes and a carport.
Where is this residential income property located?
The property is located at 585 Belvedere Dr Hot Springs, AR.
What is the asking price?
The asking price for this property is $135,000.
What are key features of this property?
This property features: 1,492‑square‑foot residence with 2 bedrooms and 2.5 bathrooms; Interior remodeling; HVAC system and windows were not included; Carport parking
