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    Luxury Cottages on Little Red River Title is generated by Realmo AI

    193 & 197 Sunshine Lane, Pangburn, AR 72121

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    For Sale
    $899,000

    MULTI_FAMILY - Pangburn, AR

    Property size:
    2,900 SF
    Lot size:
    3.00 Acres
    Price / SF:
    $310/SF
    Added:
    Mar 10, 2026
    Days on Market:
    74
    Last Refresh:
    May 22 at 2:06 am

    Property Features for 193 & 197 Sunshine Lane

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    4
    Bathrooms
    4
    Rooms
    Bedroom 2, Bathroom 3, Bedroom 3, Bedroom 4, Bathroom 2, Bathroom 4, Bedroom 1, Bathroom 1
    Patio and Porch features
    Patio, Porch
    Interior features
    Washer Connection, Dryer Connection-Electric, Balcony/Loft, Breakfast Bar, Closet - Walk In, Fan - Ceiling
    Exterior features
    Patio, Porch
    Appliances
    Free-Standing Stove, Electric Range, Dishwasher, Disposal, Free-Standing Stove, Electric Range, Dishwasher, Disposal
    Standard status
    Active
    Size
    2,900 SF
    Lot size
    3.00 Acres

    Taxes and HOA fees

    Tax Description
    Lot: 1 & 2
    Tax Annual Amount
    1400

    Utilities

    Water front
    1

    Building Details

    Year built
    2024
    Floors in Building
    2
    Number of units
    2
    Flooring type
    Laminate
    Roof type
    Shingle
    Architectural style
    Craftsman

    We can help!

    Listing Contact
    Ray Ellen
    Ray Ellen

    Listing agent Ray Ellen

    Listing office Real Broker 400 W Capital Ave Suite 1700, Little Rock, AR

    Listing date Mar 10, 2026

    MLS# 26009009 Listing URL

    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.

    HighLights

    • Two brand‑new, fully furnished luxury cottages on the Little Red River.
    • Turnkey properties ideal for private retreat, vacation compound, or short‑term rental income.
    • Direct access to the Little Red River, a premier trout fishing destination, with shared covered docks.
    • Custom finishes, open‑concept layouts, fireplaces, quartz countertops, and stainless steel appliances.
    • Main‑level primary suite with walk‑in closet and custom tile shower.
    • Convenient location: minutes from town and just over an hour from Little Rock.

    Overview

    This is a rare opportunity to own two brand-new luxury cottages on the Little Red River, a sought-after trout fishing destination in Arkansas. The Ivory and The Onyx offer a unique chance to purchase two fully furnished, turnkey river properties ideal for a private family retreat, vacation compound, or income-producing short-term rental portfolio. Thoughtfully designed with custom finishes, both homes feature open-concept layouts, cozy fireplaces, quartz countertops, stainless steel appliances, and stylish details throughout. Each property includes a main-level primary suite with a walk-in closet and custom tile shower, plus upstairs guest space and flexible loft areas ideal for extra sleeping, lounging, or bunk rooms. The property is set on 3 acres. Enjoy peaceful river views, covered outdoor living spaces, and access to brand-new shared covered docks just steps away. Located just minutes from town and a little over an hour from Little Rock, these riverfront cottages offer the perfect blend of natural beauty, modern comfort, and vacation rental investment potential. The property offers 2900 square feet of living space.
    Location Intelligence

    Current Use by Public Records

    Short term rental ...

    Map

    City
    Pangburn
    County
    White
    State
    Arkansas
    Longitude
    -91.7663
    Latitude
    35.4331

    FAQs

    What type of property is this?
    Short term rental property - Two fully furnished, turnkey river properties on the Little Red River.
    Where is this short term rental property located?
    The property is located at 193 & 197 Sunshine Lane Pangburn, AR.
    What is the asking price?
    The asking price for this property is $899,000.
    What are key features of this property?
    This property features: Two brand‑new, fully furnished luxury cottages on the Little Red River.; Turnkey properties ideal for private retreat, vacation compound, or short‑term rental income.; Direct access to the Little Red River, a premier trout fishing destination, with shared covered docks.
    (501) 313-7733
    We can help!
    Listing Contact
    Ray Ellen
    Ray Ellen
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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