Furnished Waterfront Rental
For Sale
$249,000
203 Stearns Point Unit F-5, Hot Springs, AR 71913
Updated furnished unit with an STR permit in a gated community offering water access and recreational amenities.
Property Size1,134 SF
Days on Market10
Property Features for 203 Stearns Point Unit F-5
General Information
Standard status
Active
Size
1,134 SF
Property subtype
Condo/Townhse/Duplex/Apt
Taxes and HOA fees
Annual Taxes
$1,409
Building Details
Building Size
1,134 SF
Year Built
1983
Listing Agency:
McGraw Realtors - HS
Listed By:
Shay Ledbetter
(501) 690-6662
Source:
Whitestonearkansas
Added: Aug 24
Changed: Aug 31
Last Checked: Sep 2 at 12:18AM
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 McGraw Realtors - HS
Investment Insights
Based on property information with market context.
Unit F-5 is an updated short-term rental property within a gated waterfront development. The sale includes furnishings and an STR permit, supporting continued use as a furnished rental. The unit was built in 1983 and offers water views.
Community amenities include water access, a swimming pool, basketball court, and pickleball court. The property is minutes from Oaklawn, downtown Hot Springs, and a range of restaurants, placing entertainment, dining, and local attractions within convenient reach.
Community amenities include water access, a swimming pool, basketball court, and pickleball court. The property is minutes from Oaklawn, downtown Hot Springs, and a range of restaurants, placing entertainment, dining, and local attractions within convenient reach.
Key Highlights
- STR permit included with the property
- Fully furnished updated unit
- Gated waterfront development with water access
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
$6,998
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
2.81%
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%
$139,960
$140.0K
Cap Rate 7%
$99,971
$100.0K
Cap Rate 9%
$77,756
$77.8K
Market Conditions
NOI Build-Up for 1,134 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
$13.6K $12.00/SF
− Vacancy
−$885 −$0.78/SF
EGI
$12.7K $11.22/SF
− OpEx
−$5.7K −$5.05/SF
NOI
$7.0K $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%
$139,960
Cap Rate 7%
$99,971
Cap Rate 9%
$77,756
Alternative Uses
Best Use
Apartment 5plus
$100.0K
$87.5K – $116.6K
NOI $6,998 @ 7.0% cap · market cap 2.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$207.4K
$181.5K – $242.0K
NOI $14,517 @ 7.0% cap · market cap 5.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
111
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 - Updated furnished unit with an STR permit in a gated community offering water access and recreational amenities.
Where is this short term rental property located?
The property is located at 203 Stearns Point Unit F-5 Hot Springs, AR.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: STR permit included with the property; Fully furnished updated unit; Gated waterfront development with water access
