Residential Income Property with
For Sale
$219,000
651 Peninsula Unit 28, Hot Springs, AR 71901
Furnished two-bedroom condo with lake views, gated community amenities, and access to a boat dock.
Property Size1,188 SF
Price / SF$184.34
Days on Market10
Property Features for 651 Peninsula Unit 28
General Information
Standard status
Active
Size
1,188 SF
Property subtype
Condo/Townhse/Duplex/Apt
Units
Unit Mix
1 x 2BR/2.5BA
Multifamily Units
1
Additional Details
Furnished
Yes
Taxes and HOA fees
Annual Taxes
$1,467
Amenities
gated community
pool
common areas
boat dock
Building Details
Building Size
1,188 SF
Year Built
1961
Listing Agency:
Trademark Real Estate, Inc.
(501) 881-9490
Listed By:
Tammy Browning
(501) 881-9490
Source:
Whitestonearkansas
Added: Aug 24
Changed: Aug 28
Last Checked: Aug 31 at 12:00AM
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 Trademark Real Estate, Inc.
Investment Insights
Based on property information with market context.
This furnished residential income property is a 2-bedroom, 2.5-bath condominium offering 1,188 square feet of interior space. Built in 1961, the unit includes a private patio oriented toward Lake Hamilton and is presented as move-in ready.
The gated community provides a pool, shared outdoor areas, and a boat dock. Shopping, dining, and medical services are located nearby, adding everyday convenience to the lakeside setting. The property may serve as a full-time residence, weekend retreat, or income-oriented residential holding, as described in the listing.
The gated community provides a pool, shared outdoor areas, and a boat dock. Shopping, dining, and medical services are located nearby, adding everyday convenience to the lakeside setting. The property may serve as a full-time residence, weekend retreat, or income-oriented residential holding, as described in the listing.
Key Highlights
- 2‑bedroom, 2.5‑bath condominium with 1,188 sq ft
- Furnished and move‑in ready
- Private patio with Lake Hamilton views
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
$7,331
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
3.35%
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%
$146,620
$146.6K
Cap Rate 7%
$104,729
$104.7K
Cap Rate 9%
$81,456
$81.5K
Market Conditions
NOI Build-Up for 1,188 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
$14.3K $12.00/SF
− Vacancy
−$927 −$0.78/SF
EGI
$13.3K $11.22/SF
− OpEx
−$6.0K −$5.05/SF
NOI
$7.3K $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%
$146,620
Cap Rate 7%
$104,729
Cap Rate 9%
$81,456
Alternative Uses
Best Use
Apartment 5plus
$104.7K
$91.6K – $122.2K
NOI $7,331 @ 7.0% cap · market cap 3.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$217.3K
$190.1K – $253.5K
NOI $15,208 @ 7.0% cap · market cap 6.94%
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
20
Businesses Nearby
Explore this area
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Furnished two-bedroom condo with lake views, gated community amenities, and access to a boat dock.
Where is this residential income property located?
The property is located at 651 Peninsula Unit 28 Hot Springs, AR.
What is the asking price?
The asking price for this property is $219,000.
What are key features of this property?
This property features: 2‑bedroom, 2.5‑bath condominium with 1,188 sq ft; Furnished and move‑in ready; Private patio with Lake Hamilton views
