Waterfront Residential Income
For Sale
$449,900
724 Weston Road Unit G1, Hot Springs, AR 71913
Fully furnished lakefront condo with private boat access, covered parking, and exterior storage.
Property Size2,054 SF
Days on Market108
Property Features for 724 Weston Road Unit G1
General Information
Standard status
Active
Size
2,054 SF
Total Parking Spaces
2
Property subtype
Condo/Townhse/Duplex/Apt
Additional Details
Furnished
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,738
Amenities
two private boat slips
exterior storage unit
Building Details
Building Size
2,054 SF
Year Built
1981
Listing Agency:
Hot Springs Realty
Listed By:
Lindsey Jordan · License #SA00093911
(501) 282-0885
Source:
Whitestonearkansas
Added: May 25
Changed: Sep 6
Last Checked: Sep 8 at 9:38AM
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 Hot Springs Realty
Investment Insights
Based on property information with market context.
This waterfront condominium offers 3 bedrooms and 2.5 bathrooms in a fully furnished layout designed for both everyday living and entertaining. Multiple living areas face the main channel, providing water views throughout the residence. The property includes TWO private boat slips, a two-car carport, and a separate exterior storage unit. Built in 1981, it combines direct lake access with a low-maintenance ownership setup.
The POA covers trash, water, lawn care, exterior maintenance, and natural gas. Short-term rentals are not permitted, while leases with a minimum term of 6 months are allowed. The property is located at 724 Weston Road Unit: G1 in Hot Springs, AR 71913.
The POA covers trash, water, lawn care, exterior maintenance, and natural gas. Short-term rentals are not permitted, while leases with a minimum term of 6 months are allowed. The property is located at 724 Weston Road Unit: G1 in Hot Springs, AR 71913.
Key Highlights
- Waterfront condominium with views of the main channel
- 3‑bedroom, 2.5‑bath layout sold fully furnished
- TWO private boat slips included
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
$12,675
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
2.82%
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%
$253,500
$253.5K
Cap Rate 7%
$181,071
$181.1K
Cap Rate 9%
$140,833
$140.8K
Market Conditions
NOI Build-Up for 2,054 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
$24.6K $12.00/SF
− Vacancy
−$1.6K −$0.78/SF
EGI
$23.0K $11.22/SF
− OpEx
−$10.4K −$5.05/SF
NOI
$12.7K $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%
$253,500
Cap Rate 7%
$181,071
Cap Rate 9%
$140,833
Alternative Uses
Best Use
Apartment 5plus
$181.1K
$158.4K – $211.3K
NOI $12,675 @ 7.0% cap · market cap 2.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$375.6K
$328.7K – $438.2K
NOI $26,294 @ 7.0% cap · market cap 5.84%
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
182
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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Frequently Asked Questions
What type of property is this?
Residential income property - Fully furnished lakefront condo with private boat access, covered parking, and exterior storage.
Where is this residential income property located?
The property is located at 724 Weston Road Unit G1 Hot Springs, AR.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: Waterfront condominium with views of the main channel; 3‑bedroom, 2.5‑bath layout sold fully furnished; TWO private boat slips included
