301 Hammond Dr Unit E3 · Hot Springs, AR 71913

$99,999

2 bd · 2.0 ba · 1,000 sqft · Condo public records · 21 Days on market

Built 1986 $100/sqft · 12% below area Est $114k · 12% under $184/mo HOA · 17% of rent

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +16.9/30.0
• ARV discount +13.0/15.0
• 1% rule +5.9/10.0
• DSCR +5.3/10.0
• Rent growth +4.1/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move in ready condo in the city. Owners redid 2 years ago. New carpet, tile, paint and appliances. Roomy master, eat-in kitchen and patio area off the back. Stack w/ d and new heat pump.

Key facts

• Big covered pavilion
• Swimming pool
• New roof

Tags

• SS KITCHEN APPLIANCES
• RECENT FLOORING UPDATES
• NEW ROOF
• BIG COVERED PAVILION
• SWIMMING POOL

Property features AI

Finance

• Other: Approximate living area reported as 1,000; Subdivision: CHARMARY SQUARE HPR
• Financial info: Financing options may include conventional loans, cash, trade or exchange
• HOA & community: Monthly association fee covers building exterior and grounds; other items as noted; Association fee billed monthly

Exterior

• Parking: Parking pads
• Utilities: Public sewer; Public water; Municipal electric service (Entergy); Natural gas
• Home design: Unit in a multi-unit building; Located inside city limits
• Construction: Architectural shingle roof; Slab foundation
• Exterior features: Brick exterior; Patio; Fully fenced yard; Paved road access; Level lot in a subdivision; Community amenities include swimming pool(s) and picnic area

Interior

• Kitchen: Microwave; Electric range; Dishwasher; Garbage disposal
• Flooring: Tile; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central electric cooling; Central gas heating
• Interior features: Washer connection; washer and dryer remain with the property; Gas water heater; Smoke detectors; Ceiling fans; Walk-in shower; Breakfast bar; Sheetrock walls and ceilings
• Laundry & utility: Washer connection; washer and dryer stay

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $100k.

Deal economics

• At list price, monthly cash flow is $66 ($794/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.1% vs local median 2.8% in Hot Springs — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 65/100 on livability (#140 in AR) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: schools D, crime F, amenities F.
• Hot Springs School District (urban): math 24% / reading 25% proficiency, ranked #195 of 238 in AR (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+6.4%/yr); 986 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 117 units permitted in Garland County in 2024 (24 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Garland County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 16y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $62k; list at $100k implies a 61% gain — meaningful room to come down on a strong offer.

Recommended offer $98,499 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.09% ✓
• Cap rate: 7.09%
• Cash-on-cash: 2.84%
• DSCR: 1.13
• GRM: 7.7

CMA / ARV

• ARV (median comp): $113,844
• List price: $99,999
• Delta: -12.16%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 6.43% rent growth · sell at horizon

5-year hold

• IRR: -7.5%
• Equity multiple: 0.71×
• Total profit: $-8,026
• Equity at exit: $14,910

10-year hold

• IRR: 6.5%
• Equity multiple: 1.57×
• Total profit: $15,862
• Equity at exit: $8,646

Cash invested: $28,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 92 Strongly Landlord-Friendly
• State Arkansas: 92 Strongly Landlord-Friendly · R+14
• County: — inherits STATE
• City: — inherits STATE

Only US state where non-payment is criminal. Strongly landlord-favorable; very few tenant protections.

Methodology + full state rankings →

ZIP-level market 71913

• Home prices YoY: -33.9%
• Rents YoY: 6.4%
• Active inventory: 986
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,088 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$43 /mo · $518/yr
• Insurance: −$42
• HOA: −$184
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $66

Break-even live

Break-even rent $1,004

Max offer price $99,999

Occupancy floor 89%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
150 Sun St Hot Springs National Park, AR	3.0	1.0	1120	$1,150	$1.03	44d	1	0.60mi
1036 Garland Ave Hot Springs National Park, AR	2.0	1.0	1200	$1,150	$0.96	44d	1	1.40mi
410 Oakwood Ave Hot Springs, AR	2.0–3.0	2.0	1000	$999	$1.00	44d	6	1.47mi

HOA detail condo

• Monthly dues: $184 · $2,208/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-03
   status $99,999 Under Contract 21 DOM
2. 2026-06-02
   days on market $99,999 Price Change 21 DOM
3. 2026-06-01
   days on market $99,999 Price Change 20 DOM
4. 2026-05-31
   days on market $99,999 Price Change 19 DOM
5. 2026-05-30
   days on market $99,999 Price Change 18 DOM
6. 2026-05-12
   listed $105,000 New Listing 604-char remark
7. 2011-11-22
   soldstatus $62,000
8. 2011-11-21
   soldstatus $62,000 186-char remark

   Show marketing remark (186 chars)

   Move in ready condo in the city. Owners redid 2 years ago. New carpet, tile, paint and appliances. Roomy master, eat-in kitchen and patio area off the back. Stack w/ d and new heat pump.

9. 2011-10-21
   historical 186-char remark

   Show marketing remark (186 chars)

   Move in ready condo in the city. Owners redid 2 years ago. New carpet, tile, paint and appliances. Roomy master, eat-in kitchen and patio area off the back. Stack w/ d and new heat pump.

10. 2010-03-01
    listed $70,000 186-char remark

    Show marketing remark (186 chars)

    Move in ready condo in the city. Owners redid 2 years ago. New carpet, tile, paint and appliances. Roomy master, eat-in kitchen and patio area off the back. Stack w/ d and new heat pump.

11. 2007-10-18
    soldstatus $75,000
12. 2002-10-21
    soldstatus $57,000
13. 2000-06-20
    soldstatus $48,000
14. 1999-12-28
    soldstatus $43,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast AR · Resets to sale price

• Current annual tax: $518 · $43/mo
• Projected year-2 tax: $640 · $53/mo
• Expected delta: +$122/yr (+$10/mo · 23.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $13,055
• − Mortgage interest: −$5,601
• − Property taxes: −$518
• − Insurance: −$500
• − Repairs & maintenance: −$1,044
• − Management: −$1,044
• − HOA: −$2,208
• − Depreciation: −$2,909
• Taxable loss: −$771
• Est. tax savings @ 24.0%: +$185
• After-tax cash flow: $979/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Hot Springs School District
• NCES district ID: 0507890
• Math proficiency: 24% ▼ -15.00%
• Reading proficiency: 25% ▼ -12.00%
• Median HH income: $28,817
• Composite: 19.62/100
• National rank: #8746
• State rank: #195 of 238 in AR

Livability — Hot Springs

• Score: 65/100
• State rank: #140
• US rank: #12498

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment D- Housing A+ Health & safety A- User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hot Springs, AR
• County: Garland County · 76,414 people
• City population: 76,414
• Metro: Hot Springs, AR
• Population (ZIP): 47,477
• Household income: $56,010
• Rent vs Own: 34.3% rent · 65.7% own
• Severe rent burden: 1442.0

Population outlook (Garland County) Hauer SSP2

• Today (2025): 100,343 people
• By 2030: 101,880 · +1.5%
• By 2040: 104,804 · +4.4%
• By 2050: 107,292 · +6.9%
• By 2075: 113,182 · +12.8%
• By 2100: 112,247 · +11.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Hispanic / Latino 8% Black 8% Two or more races 6% Asian 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 7% Other Indo-European 1%

Political lean MEDSL · Garland

• 2024 margin: Solid R (+36.2) · D 30.8% · R 67.0% · Other 2.2%
• 2008→2024 swing: -11.3pp toward R · 2008: -25.0pp · 2024: -36.2pp
• All cycles: 2024: R+36.2 2020: R+34.0 2016: R+34.1 2012: R+29.9 2008: R+25.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -137.67%
• Current HPI: 268.5228
• Rent YoY: ▲ 6.43%
• Metro: Hot Springs, AR
• State GDP YoY: ▲ 3.80%
• F500 in state: 10

Industry mix (Fortune 500 HQ in AR)

Industry	F500 HQs	Revenue
▸Retail	1	$681B
▸Food / Agriculture	1	$53B
▸Retail / Energy	1	$22B
▸Transportation / Logistics	1	$12B
▸Energy	1	$4B

Price history

+132.6% since first listed

13 events — show timeline

• 2026-06-02 Pending — CARMLS
• 2026-05-30 Price Changed $99,999 CARMLS
• 2026-05-24 Price Changed $97,500 CARMLS
• 2026-05-19 Price Changed $99,999 CARMLS
• 2026-05-12 Listed $105,000 CARMLS
• 2011-11-22 Sold (Public Records) $62,000 Public Records
• 2011-11-21 Sold (MLS) $62,000 CARMLS
• 2011-10-21 Listing Removed — CARMLS
• 2010-03-01 Listed $70,000 CARMLS
• 2007-10-18 Sold (Public Records) $75,000 Public Records
• 2002-10-21 Sold (Public Records) $57,000 Public Records
• 2000-06-20 Sold (Public Records) $48,000 Public Records
• 1999-12-28 Sold (Public Records) $43,000 Public Records

Property tax history

+1.3%/yr

Latest (2025): $518 · +3.0% YoY. Source: county tax records.