Contemporary Short-Term Rental
For Sale
$2,400,000
251 Thornton Ferry Rd, Hot Springs, AR 71913
Residential, Contemporary, Hot Springs, AR
Property Size12,000 SF
Price / SF$200
Days on Market206
Property Features for 251 Thornton Ferry Rd
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
20
Bathrooms
20
Full bathrooms
15
Half bathrooms
5
Rooms
Bathroom 20, Bathroom 14, Bedroom 1, Bedroom 8, Bedroom 17, Bathroom 13, Bathroom 17, Bedroom 4, Bathroom 18, Bedroom 3, Bedroom 15, Bedroom 18, Bathroom 6, Bathroom 9, Bathroom 10, Bedroom 11, Bedroom 12, Bathroom 5, Bedroom 19, Bathroom 1, Bathroom 15, Bedroom 16, Bedroom 9, Bedroom 10, Bathroom 8, Bedroom 20, Bathroom 4, Bathroom 11, Bathroom 3, Bedroom 2, Bathroom 2, Bedroom 7, Bedroom 13, Bathroom 19, Bedroom 6, Bathroom 12, Bathroom 16, Bathroom 7, Bedroom 14, Bedroom 5
Parking features
Carport
Fireplace
1
Appliances
Free-Standing Stove, Microwave, Dishwasher, Refrigerator-Stays
Subdivision
Metes & Bounds
Lot features
Level
Directions
ALBERT PIKE RD HWY 270 W TO THORNTON FERRY, DEVELOPMENT ON LEFT JUST PAST KALEIGH COURT
Standard status
Active
Size
12,000 SF
Taxes and HOA fees
Tax Description
Metes and Bounds
HOA Fee
$125 Monthly
Legal Description
Metes and Bounds
Building Details
Year built
2024
Flooring type
Wood, Tile, Concrete
Roof type
Flat
Architectural style
Contemporary
Listing Agency:
Realty One Group Lock and Key
(501) 298-3242
Listed By:
Hunter Medlock
(940) 736-3264
Added: Mar 6
Changed: Sep 25
Last Checked: Sep 28 at 5:06AM
MLS# 26008730
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 12,000-square-foot offering comprises five contemporary townhomes, built in 2024 and furnished for immediate use. Interior features include 10- to 12-foot ceilings, oversized windows, added sound insulation between units, and fireplaces. Appliances include a stove, microwave, dishwasher, and refrigerator. Wood, tile, and concrete flooring are present, with carport parking.
The property is outside Hot Springs city limits, with the city’s amenities described as minutes away. Boat slips may be purchased as they become available. Plans and specifications are available for eight additional units; the listing also notes that buyers may acquire individual units or multiple units, subject to availability.
The property is outside Hot Springs city limits, with the city’s amenities described as minutes away. Boat slips may be purchased as they become available. Plans and specifications are available for eight additional units; the listing also notes that buyers may acquire individual units or multiple units, subject to availability.
Key Highlights
- Five townhomes offered together; individual units or up to 6 units may be available
- 12,000 square feet; built in 2024
- Short‑term rentals allowed; units are furnished
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
$74,052
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
3.09%
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%
$1,481,040
$1.5M
Cap Rate 7%
$1,057,886
$1.1M
Cap Rate 9%
$822,800
$822.8K
Market Conditions
NOI Build-Up for 12,000 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
$144.0K $12.00/SF
− Vacancy
−$9.4K −$0.78/SF
EGI
$134.6K $11.22/SF
− OpEx
−$60.6K −$5.05/SF
NOI
$74.1K $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%
$1,481,040
Cap Rate 7%
$1,057,886
Cap Rate 9%
$822,800
Alternative Uses
Best Use
Apartment 5plus
$1.06M
$925.7K – $1.23M
NOI $74,052 @ 7.0% cap · market cap 3.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.19M
$1.92M – $2.56M
NOI $153,619 @ 7.0% cap · market cap 6.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
171
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Short term rental property - The furnished townhomes allow short-term rentals and are marketed together as a five-unit offering.
Where is this short term rental property located?
The property is located at 251 Thornton Ferry Rd Hot Springs, AR.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: Five townhomes offered together; individual units or up to 6 units may be available; 12,000 square feet; built in 2024; Short‑term rentals allowed; units are furnished
