Single-Level Residential Income
New
For Sale
$169,000
9 Cortez Lane, Hot Springs Village, AR 71909
Residential, Townhouse, Hot Springs Village, AR
Property Size1,328 SF
Price / SF$127.26
Days on Market2
Property Features for 9 Cortez Lane
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 2, Bathroom 2, Bedroom 1, Bathroom 1
Parking features
Carport
Appliances
Free-Standing Stove, Dishwasher
Subdivision
CORTEZ COURTS
Lot features
Cul-de-sac
Directions
From West Gate, travel Desoto to left turn on Barcelona, Travel Barcelona to left turn on Cortez Rd to right turn on Cortez lane
Standard status
Active
Size
1,328 SF
Taxes and HOA fees
Tax Description
L5 Blk2
Tax Annual Amount
1025
HOA Fee
$116 Monthly
Legal Description
L5 Blk2
Building Details
Year built
1983
Floors in Building
1
Flooring type
Carpet, Wood
Roof type
Composition
Architectural style
Other
Listing Agency:
RE/MAX of Hot Springs Village · RE/MAX International
(501) 922-3777
Listed By:
Jim Harbour · License #SA00073272
(501) 204-2034
Added: Sep 8
Last Checked: Sep 9 at 11:06PM
MLS# 26036661
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 single-level end-unit residential property offers 1,328 square feet with three bedrooms and two bathrooms. The residence is being sold fully furnished and includes a carport, composition roof, free-standing stove, and dishwasher. Engineered hardwood extends through the living area, while the bedrooms feature carpet. Both the interior and exterior HVAC units were replaced in 2017.
Built in 1983, the property is located in Cortez Courts in Hot Springs Village. Its setting supports golf-cart access to the golf course, adding a practical recreational connection within the surrounding community.
Built in 1983, the property is located in Cortez Courts in Hot Springs Village. Its setting supports golf-cart access to the golf course, adding a practical recreational connection within the surrounding community.
Key Highlights
- 1,328‑square‑foot single‑level end unit
- Three bedrooms and two bathrooms
- Sold fully furnished with carport
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
$8,195
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
4.85%
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%
$163,900
$163.9K
Cap Rate 7%
$117,071
$117.1K
Cap Rate 9%
$91,056
$91.1K
Market Conditions
NOI Build-Up for 1,328 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
$15.9K $12.00/SF
− Vacancy
−$1.0K −$0.78/SF
EGI
$14.9K $11.22/SF
− OpEx
−$6.7K −$5.05/SF
NOI
$8.2K $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 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%
$163,900
Cap Rate 7%
$117,071
Cap Rate 9%
$91,056
Alternative Uses
Best Use
Apartment 5plus
$117.1K
$102.4K – $136.6K
NOI $8,195 @ 7.0% cap · market cap 4.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$242.9K
$212.5K – $283.4K
NOI $17,001 @ 7.0% cap · market cap 10.06%
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
15
Businesses Nearby
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Business Placement
Demographics for 71909, AR
17,935
Population
10,563
Households
1.7
Avg Household Size
67
Median Age
33%
College-Educated
97%
High-School Grad
79.3 sq mi
ZIP Area
226
Density / Sq Mi
$69,171
Median Household Income
$31,165
Median Earnings
$1,143
Median Rent
$255,600
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Furnished end-unit residence with three bedrooms, two bathrooms, a carport, and updated HVAC equipment.
Where is this residential income property located?
The property is located at 9 Cortez Lane Hot Springs Village, AR.
What is the asking price?
The asking price for this property is $169,000.
What are key features of this property?
This property features: 1,328‑square‑foot single‑level end unit; Three bedrooms and two bathrooms; Sold fully furnished with carport
