Furnished Short-Term Rental
For Sale
$245,000
203 Stearns Point, Hot Springs, AR 71913
Residential, Contemporary, Hot Springs, AR
Property Size1,312 SF
Price / SF$186.74
Days on Market36
Property Features for 203 Stearns Point
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 1, Den, Bathroom 1, Bedroom 2, Laundry Room
Parking features
Assigned
Patio and Porch features
Deck
Interior features
Wet Bar, Washer-Stays, Dryer-Stays
Exterior features
Deck, Inground Pool, Tennis Court
Fireplace
1
Appliances
Free-Standing Stove, Microwave, Dishwasher, Disposal, Refrigerator-Stays
Subdivision
HAMILTON HARBOR HPR
Lot features
Level
Directions
From the bypass, take Airport Road go left, right on Weston to Stearns pt.
Standard status
Active
Size
1,312 SF
Taxes and HOA fees
Tax Description
D1Hamilton Harbor HPR Phase II
Tax Annual Amount
1750
HOA Fee
$259 Annually
Legal Description
D1Hamilton Harbor HPR Phase II
Amenities
gated community
lake access
pool
tennis courts
Building Details
Year built
1983
Flooring type
Carpet, Vinyl
Roof type
Shingle
Architectural style
Contemporary
Listing Agency:
McGraw Realtors - HS
(501) 881-3331
Listed By:
Shay Ledbetter
(501) 690-6662
Added: Jul 20
Changed: Aug 24
Last Checked: Aug 24 at 6:06PM
MLS# 26034454
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 contemporary condo offers 1,312 square feet with two bedrooms, two bathrooms, a den, and a laundry room. The residence is furnished and includes a wet bar, deck, fireplace, assigned parking, and kitchen appliances including a stove, microwave, dishwasher, disposal, and refrigerator. The washer and dryer remain with the property. Built in 1983, the unit has carpet and vinyl flooring with a shingle roof.
Located at 203 Stearns Point in Hot Springs, the property is within a gated community featuring lake access, an inground pool, and tennis courts. Oaklawn and downtown Hot Springs are minutes away. A short-term rental permit and established rental history are included among the property’s operating features.
Located at 203 Stearns Point in Hot Springs, the property is within a gated community featuring lake access, an inground pool, and tennis courts. Oaklawn and downtown Hot Springs are minutes away. A short-term rental permit and established rental history are included among the property’s operating features.
Key Highlights
- 1,312‑square‑foot contemporary condo with 2 bedrooms, 2 bathrooms, and a den
- Short‑term rental permit with established rental history
- Furnished residence with wet bar, fireplace, deck, and assigned parking
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
$8,096
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
3.30%
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%
$161,920
$161.9K
Cap Rate 7%
$115,657
$115.7K
Cap Rate 9%
$89,956
$90.0K
Market Conditions
NOI Build-Up for 1,312 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
$15.7K $12.00/SF
− Vacancy
−$1.0K −$0.78/SF
EGI
$14.7K $11.22/SF
− OpEx
−$6.6K −$5.05/SF
NOI
$8.1K $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%
$161,920
Cap Rate 7%
$115,657
Cap Rate 9%
$89,956
Alternative Uses
Best Use
Apartment 5plus
$115.7K
$101.2K – $134.9K
NOI $8,096 @ 7.0% cap · market cap 3.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$239.9K
$210.0K – $279.9K
NOI $16,796 @ 7.0% cap · market cap 6.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
56
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Short term rental property - Gated community residence with lake access, recreational amenities, and an established short-term rental history.
Where is this short term rental property located?
The property is located at 203 Stearns Point Hot Springs, AR.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: 1,312‑square‑foot contemporary condo with 2 bedrooms, 2 bathrooms, and a den; Short‑term rental permit with established rental history; Furnished residence with wet bar, fireplace, deck, and assigned parking
