Lake-View Short-Term Rental
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For Sale
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112 HONOLULU CT, Hot Springs, AR 71913
Five-bedroom, four-bath home with recent improvements, outdoor living areas, and a private spa overlooking the water.
Property Size2,784 SF
Price / SF$174.21
Days on Market6
Property Features for 112 HONOLULU CT
General Information
Standard status
Active
Size
2,784 SF
Property subtype
Multifamily, Hospitality
Building Details
Year Built
1980
Stories
1
Units
1
Listing Agency:
Keller Williams Realty
(870) 210-1445
Listed By:
Jason Edington · License #AR EB00056069
Source:
Crexi
Added: Aug 15
Changed: Aug 18
Last Checked: Aug 19 at 7:41AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty
Investment Insights
Based on property information with market context.
This 5-bedroom, 4-bath home in Hot Springs, Arkansas, was previously operated as a short-term rental and offers a flexible residential layout. The property includes generous gathering areas, architectural details, recent improvements, and windows oriented toward lake and mountain scenery. A private spa and outdoor living spaces extend the usable area beyond the interior, while sunset views add to the setting. Built in 1980, the home also provides access to community amenities that include golf, lake recreation, a pool, and a playground. Its configuration supports use as a family residence, retreat, vacation home, or short-term rental property, as described in the available property information.
Key Highlights
- 5‑bedroom, 4‑bath home
- Previously operated as a short‑term rental
- Windows with lake and mountain views
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
$17,180
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
3.54%
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%
$343,600
$343.6K
Cap Rate 7%
$245,429
$245.4K
Cap Rate 9%
$190,889
$190.9K
Market Conditions
NOI Build-Up for 2,784 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
$33.4K $12.00/SF
− Vacancy
−$2.2K −$0.78/SF
EGI
$31.2K $11.22/SF
− OpEx
−$14.1K −$5.05/SF
NOI
$17.2K $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%
$343,600
Cap Rate 7%
$245,429
Cap Rate 9%
$190,889
Alternative Uses
Best Use
Apartment 5plus
$245.4K
$214.8K – $286.3K
NOI $17,180 @ 7.0% cap · market cap 3.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$509.1K
$445.5K – $594.0K
NOI $35,640 @ 7.0% cap · market cap 7.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
19
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Short term rental property - Five-bedroom, four-bath home with recent improvements, outdoor living areas, and a private spa overlooking the water.
Where is this short term rental property located?
The property is located at 112 HONOLULU CT Hot Springs, AR.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: 5‑bedroom, 4‑bath home; Previously operated as a short‑term rental; Windows with lake and mountain views
