8-Cabin Short-Term Rental
For Sale
$1,750,000
2777 Highway 290, Hot Springs, AR 71913
Multi-Family, Hot Springs, AR
Property Size9,264 SF
Lot Size4.90 Acres
Price / SF$188.90
Days on Market174
Property Features for 2777 Highway 290
General Information
Property type
Residential Multi Family
Property subtype
Other
Appliances
Electric Range, Dishwasher, Refrigerator-Stays, Electric Range, Dishwasher, Refrigerator-Stays
Subdivision
Metes & Bounds
Lot features
Rural Property, Out of City
High school
Lakeside
Directions
From Carpenter Dam Road, take a right onto Hwy 290, property is on your right.
Standard status
Active
Size
9,264 SF
Lot size
4.90 Acres
Taxes and HOA fees
Tax Description
PT NE
Tax Annual Amount
9177
Legal Description
PT NE
Amenities
fire pit area
Building Details
Year built
2023
Number of units
8
Flooring type
Concrete
Roof type
Shingle
Listing Agency:
Hot Springs 1st Choice Realty
(501) 525-1600
Listed By:
Tara Dixon · License #EB00080382
(501) 590-5122
Added: Apr 15
Changed: Sep 3
Last Checked: Oct 4 at 11:06PM
MLS# 26015125
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.
Built in 2023, this short-term rental property comprises eight fully furnished cabins totaling 9,264 square feet. Four cabins measure 1,308 square feet each, while the remaining four measure 1,008 square feet each. Concrete flooring and shingle roofing are among the documented improvements, and the cabins include electric ranges, dishwashers, and refrigerators.
The property encompasses 4.9 acres at 2777 Highway 290 in Hot Springs, Arkansas. Garvan Woodland Gardens and the Fish Hatchery public boat ramp serving Lake Hamilton are located just minutes away. A fire pit area is already in place, with additional land available for a pavilion or other amenities, subject to applicable approvals.
The property encompasses 4.9 acres at 2777 Highway 290 in Hot Springs, Arkansas. Garvan Woodland Gardens and the Fish Hatchery public boat ramp serving Lake Hamilton are located just minutes away. A fire pit area is already in place, with additional land available for a pavilion or other amenities, subject to applicable approvals.
Key Highlights
- Eight fully furnished cabins totaling 9,264 square feet
- Four cabins measure 1,308 square feet each; four measure 1,008 square feet each
- Built in 2023 on 4.9 acres
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
$57,168
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
3.27%
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%
$1,143,360
$1.1M
Cap Rate 7%
$816,686
$816.7K
Cap Rate 9%
$635,200
$635.2K
Market Conditions
NOI Build-Up for 9,264 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
$111.2K $12.00/SF
− Vacancy
−$7.2K −$0.78/SF
EGI
$103.9K $11.22/SF
− OpEx
−$46.8K −$5.05/SF
NOI
$57.2K $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%
$1,143,360
Cap Rate 7%
$816,686
Cap Rate 9%
$635,200
Alternative Uses
Best Use
Apartment 5plus
$816.7K
$714.6K – $952.8K
NOI $57,168 @ 7.0% cap · market cap 3.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.69M
$1.48M – $1.98M
NOI $118,594 @ 7.0% cap · market cap 6.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
13
Businesses Nearby
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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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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 - Eight furnished cabins offer an established lodging configuration near Lake Hamilton recreational access and regional attractions.
Where is this short term rental property located?
The property is located at 2777 Highway 290 Hot Springs, AR.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Eight fully furnished cabins totaling 9,264 square feet; Four cabins measure 1,308 square feet each; four measure 1,008 square feet each; Built in 2023 on 4.9 acres
