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    218 Andover St Hot Springs, AR 71913
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    Property profile & analytics

    218 Andover St Hot Springs, AR 71913

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    • Residential income homes
    • 4,280 SF
    Off-Market
    Property ID
    US05-0160388
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Residential income homes

    Property Details for 218 Andover St

    Property size
    4,280 SF
    Property type
    Residential income homes

    Description

    This exceptional investment opportunity presents a portfolio of three fully furnished single-family homes in Hot Springs, Arkansas, totaling 4,280 square feet. Ideally located just one mile from the Oaklawn Race Track, this turnkey package boasts a proven rental history with active city permits, ensuring immediate cash flow. Each home is meticulously maintained, featuring low-maintenance exteriors and original hardwood floors. Recent roof replacements further enhance the value and minimize future maintenance costs. The properties are individually attractive: one features 3 bedrooms and 2 bathrooms spanning 1613 square feet

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Hot Springs
    County
    Garland
    State
    Arkansas
    Longitude
    -93.076104
    Latitude
    34.4830009

    Comparable in this City

    • $250,000
      3,930 SF

      Hot Springs Four-Unit Apartment Building

      Four-unit apartment building with income potential in Hot Springs, AR.
      124 Dawer St, Hot Springs, AR 71913
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    • $4,700,000

      Lake Hamilton Townhomes with Boat Slips

      New construction townhomes on Lake Hamilton with rooftop patios.
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    • New
      $1,200,000
      840 SF

      Hot Springs Multifamily Investment Opportunity

      Mobile home park with 16 units near Lake Hamilton.
      100 Springwood Rd, Hot Springs, AR 71913
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    • $2,500,000
      15.10 Acres

      Development-Ready Land in Hot Springs

      15-acre commercial parcel near Central Ave and Oaklawn Casino.
      222 Files Rd, Hot Springs, AR 71913
      View Details
    • New
      $495,000
      2,468 SF

      Renovated Four-Unit Investment Property

      Fully renovated, furnished four-unit property with short-term rental licenses.
      500 Burchwood Bay Rd, Hot Springs, AR 71913
      View Details
    • $230,000
      1,596 SF

      Hot Springs Income Property

      Income-producing property with room to grow in Hot Springs.
      314 Marion Anderson Rd, Hot Springs, AR 71913
      View Details

    Similar Nearby for Sale

    • $250,000
      3,930 SF

      Hot Springs Four-Unit Apartment Building

      Four-unit apartment building with income potential in Hot Springs, AR.
      124 Dawer St, Hot Springs, AR 71913
      View Details
    • $4,700,000

      Lake Hamilton Townhomes with Boat Slips

      New construction townhomes on Lake Hamilton with rooftop patios.
      203 Thornton Ferry Rd, Hot Springs, AR 71913
      View Details
    • New
      $1,200,000
      840 SF

      Hot Springs Multifamily Investment Opportunity

      Mobile home park with 16 units near Lake Hamilton.
      100 Springwood Rd, Hot Springs, AR 71913
      View Details
    • $2,500,000
      15.10 Acres

      Development-Ready Land in Hot Springs

      15-acre commercial parcel near Central Ave and Oaklawn Casino.
      222 Files Rd, Hot Springs, AR 71913
      View Details
    • New
      $495,000
      2,468 SF

      Renovated Four-Unit Investment Property

      Fully renovated, furnished four-unit property with short-term rental licenses.
      500 Burchwood Bay Rd, Hot Springs, AR 71913
      View Details
    • $230,000
      1,596 SF

      Hot Springs Income Property

      Income-producing property with room to grow in Hot Springs.
      314 Marion Anderson Rd, Hot Springs, AR 71913
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space on Central Avenue

      9,664 SF retail suite with prime visibility on Central Ave.
      3339 Central Ave, Hot Springs, AR 71913
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    • Contact for pricing
      922 SF

      Office Space Near Central Avenue

      Office space for rent near restaurants and retail.
      566 Files Rd, Hot Springs National Park, AR 71913
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      1,100 SF

      Office or Retail Space Available

      Office or retail space for lease in high-traffic area.
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    • $500 /Mo
      800 SF

      Charming Office Space For Rent

      Office space for rent with utilities included in Hot Springs.
      5380 Central Unit 2 Ave, Hot Springs, AR 71913
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    • Contact for pricing

      Retail Space in South Ridge

      Retail space for lease in a well-situated Hot Springs location.
      5401 Central Ave, Hot Springs, AR 71913
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    • $18 SF/Yr

      Medical Clinic Sublease Opportunity

      7,083 SF medical clinic available for sublease.
      154 Cornerstone Ln, Hot Springs, AR 71913
      View Details
    Request Owner's contact information
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    218 Andover St
    Hot Springs, AR 71913
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    218 Andover St, Hot Springs, AR, 71913
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