Furnished Victorian Short-Term
224 Court Street, Hot Springs, AR 71901
For Sale
$535,000
Under Contract
Commercial / Industrial, Victorian, Hot Springs, AR
Property Size3,556 SF
Lot Size0.13 Acres
Price / SF$150.45
Days on Market54
Property Features for 224 Court Street
General Information
Property type
Property subtype
Zoning description
Parking
Interior features
Subdivision
Lot features
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Building Details
Year built
Floors in Building
Flooring type
Roof type
Architectural style
Listing Agency:
CBRPM Hot Springs · Coldwell Banker Real Estate
(501) 525-7355
Listed By:
Todd Woerpel
(501) 622-8396
Added: Sep 22
Changed: Nov 11
Last Checked: Nov 14 at 3:06AM
MLS# 26039010
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.
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Investment Insights
Based on property information with market context.
Built in 1879, this restored Victorian short-term rental contains 3,556 square feet on a 0.13-acre lot. The furnished interior includes eight bedrooms, three full bathrooms and two half bathrooms, along with kitchen and living areas. Wood and vinyl flooring, ceiling fans and a metal roof are among its existing features.
At 224 Court Street in downtown Hot Springs, the property is within walking distance of Bathhouse Row, shopping, restaurants, arts and entertainment. Hot Springs National Park and the convention center are also nearby, while the Ouachita National Forest is described as steps from the back door.
At 224 Court Street in downtown Hot Springs, the property is within walking distance of Bathhouse Row, shopping, restaurants, arts and entertainment. Hot Springs National Park and the convention center are also nearby, while the Ouachita National Forest is described as steps from the back door.
Key Highlights
- Eight bedrooms, three full bathrooms and two half bathrooms
- 3,556 square feet on a 0.13‑acre lot
- Built in 1879; restored Victorian architectural style
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,944
Cap Rate
4.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$438,880
$438.9K
Cap Rate 7%
$313,486
$313.5K
Cap Rate 9%
$243,822
$243.8K
Market Conditions
NOI Build-Up for 3,556 SF
Gross rent
$42.7K $12.00/SF
− Vacancy
−$2.8K −$0.78/SF
EGI
$39.9K $11.22/SF
− OpEx
−$18.0K −$5.05/SF
NOI
$21.9K $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 Rate 5%
$438,880
Cap Rate 7%
$313,486
Cap Rate 9%
$243,822
Alternative Uses
Best Use
Apartment 5plus
$313.5K
$274.3K – $365.7K
NOI $21,944 @ 7.0% cap · market cap 4.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$650.3K
$569.0K – $758.7K
NOI $45,522 @ 7.0% cap · market cap 8.51%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
1,463
Businesses Nearby
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Demographics for 71901, AR
29,363
Population
14,952
Households
2
Avg Household Size
43
Median Age
26%
College-Educated
88%
High-School Grad
101.9 sq mi
ZIP Area
288
Density / Sq Mi
$52,410
Median Household Income
$35,604
Median Earnings
$797
Median Rent
$173,400
Median Home Value
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Market
Average Price Trend$/SF for Short term rental properties in Hot Springs, AR
Properties on Market for Short term rental properties in Hot Springs
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Short term rental property - An eight-bedroom furnished property offers space for group stays in historic downtown Hot Springs.
Where is this short term rental property located?
The property is located at 224 Court Street Hot Springs, AR.
What is the asking price?
The asking price for this property is $535,000.
What are key features of this property?
This property features: Eight bedrooms, three full bathrooms and two half bathrooms; 3,556 square feet on a 0.13‑acre lot; Built in 1879; restored Victorian architectural style
