Hot Springs Real Estate

What an Amazing house. Standing 3 stories tall, this house has an unbelievable amount of potential. It is currently set up as a 3 bedroom 2.5 bath, but offers a full unfinished basement with 9 foot ceilings that could be easily converted into another living quarters with all of the plumbing for another kithen, bathroom and bedroom. The thought alone of a 4 bedroom 3.5 bath brings dollar signs to my eyes, especially on Lake Hamilton.

The only reason we did not make an offer or better yet, purchase this home was 4 reasons.

1. The lot has a pretty good slope and would require some hefty landscaping, about 10 trees need removed and dirt brought in or taken from the high part of the lot and brought down towards the lake. The neighbors on both sides have done exactly this and their yards look pretty good with a milder slope.
2. Getting to this house start off great with a trip down Marion Anderson Road onto Northshore where it gets pretty nasty. As soon as Northshore Drive starts, so do the mobile homes. I would say there is 2 miles of road which passes literally 50 trailers and all of them are in pretty rough condition, which brings in low $100.00 rents and attracts the worst renters in Hot Springs. Add this with bad real estate comps for when you want to sell. Keep in mind, we are looking to make a profit and sell within 5 years.
3. The neighbors on one side had 3-4 Golden Retrievers that barked constantly, while we were there. I imagined our 2 big dogs there would be joining in the gossip and nobody could sleep at night.
4. The boat dock is ok but the walk to it sucks! Plan on replacing about 75 feet of walkway to the dock if purchasing the house, also there was so much debris washed up on shore(no seawall) that it was very unsightly and was starting to stink. I did see a nice bumper to a small chevy car washed up though:)

Here is what the Hot Springs MLS service has to say about the house.

Affordable family home on the lake! Open floor plan! Living room w/fireplace and sliding door onto large deck. Spacious dining room with sliding door onto covered deck for cooking and entertaining. Updated kitchen with nice bar area. Master suite on main level with WIC. 2 bedrooms upstairs, one with private balcony. Walk out basement with lots of light makes great workshop area, or can be finished for additional living space. Easy walk to the lake. Covered boat dock.

• Lot Descriptions: 100L x 270
• Baths (full): 2
• Baths (partial): 1
• Bedrooms: 3
• Lakes: Lake Hamilton
• Listing Price: $299,900
• Property Type: Single Family Home
• School District: Lake Hamilton
• Sq.Ft.: 1772
• Waterfront: Yes
• Year Built: 1980
• Zip Code: 71913

Summary: A whole lot of Lake Hamilton house for a great price if you finish out the basement, but a terrible view getting to the house.