Renovated Single-Family Rental
For Sale
$585,000
410 404 406 408 Charteroak, Hot Springs, AR 71901
Multi-Family, Traditional, Hot Springs, AR
Property Size5,147 SF
Price / SF$113.66
Days on Market60
Property Features for 410 404 406 408 Charteroak
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
11
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 1, Bedroom 8, Bedroom 6, Bedroom 10, Bathroom 4, Bedroom 5, Bathroom 1, Bedroom 7, Bedroom 2, Bedroom 9, Bedroom 11, Bathroom 5, Bathroom 2, Bathroom 3, Bedroom 4, Bedroom 3
Parking features
Carport
Patio and Porch features
Porch
Interior features
Washer Connection, Dryer Connection-Electric, Hot Water Heater-Electric, Breakfast Bar
Exterior features
Partially Fenced, Guttering, Porch
Fencing
Partial
Appliances
Electric Range, Dishwasher, Disposal, Refrigerator-Stays, Electric Range, Dishwasher, Disposal, Refrigerator-Stays
Subdivision
Metes & Bounds
Lot features
Level
Elementary school
Hot Springs
Middle school
Hot Springs
High school
Hot Springs
Directions
North on Central Ave/7S turn right onto W. Belding to left on Charteroak, homes are on the left
Standard status
Active
Size
5,147 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
04-03S-19W, Unplatted HS
Tax Annual Amount
3832
Legal Description
04-03S-19W, Unplatted HS
Building Details
Year built
1950
Floors in Building
2
Number of units
4
Flooring type
Vinyl
Roof type
Shingle, Metal
Architectural style
Other
Listing Agency:
Meyers Realty Company
(501) 624-5622
Listed By:
Sarah Bentley
(501) 520-1505
Added: Jul 17
Changed: Sep 14
Last Checked: Sep 14 at 2:06PM
MLS# 26028994
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 turnkey package includes four fully renovated single-family homes. Each home has been renovated from top to bottom down to the studs, with modern finishes and a contemporary interior and exterior finish package. Reported improvements include new heating and air units, plumbing and electrical work, insulated windows and doors, and upgraded exterior features including gutters with gutter screens, along with new interior and exterior finishes throughout.
The homes are currently leased with long-term tenants in place. Reported unit mix includes Unit 1 as a 3/1, Unit 2 as a 3/1, Unit 3 as a 3/2, and Unit 4 as a 2/1, with tenants responsible for all utilities. The properties are located on Charteroak (410, 404, 406, and 408 Charteroak) in Hot Springs, Arkansas, near Central Ave/7S and within reach of downtown, Oaklawn Racing Casino Resort, shopping, dining, and local attractions. Unit-level rents are reported in the listing as $1,400 for Units 1 and 2, $1,400 for Unit 3, and $900 for Unit 4.
The homes are currently leased with long-term tenants in place. Reported unit mix includes Unit 1 as a 3/1, Unit 2 as a 3/1, Unit 3 as a 3/2, and Unit 4 as a 2/1, with tenants responsible for all utilities. The properties are located on Charteroak (410, 404, 406, and 408 Charteroak) in Hot Springs, Arkansas, near Central Ave/7S and within reach of downtown, Oaklawn Racing Casino Resort, shopping, dining, and local attractions. Unit-level rents are reported in the listing as $1,400 for Units 1 and 2, $1,400 for Unit 3, and $900 for Unit 4.
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
$31,762
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
5.43%
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%
$635,240
$635.2K
Cap Rate 7%
$453,743
$453.7K
Cap Rate 9%
$352,911
$352.9K
Market Conditions
NOI Build-Up for 5,147 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
$61.8K $12.00/SF
− Vacancy
−$4.0K −$0.78/SF
EGI
$57.7K $11.22/SF
− OpEx
−$26.0K −$5.05/SF
NOI
$31.8K $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%
$635,240
Cap Rate 7%
$453,743
Cap Rate 9%
$352,911
Alternative Uses
Best Use
Apartment 5plus
$453.7K
$397.0K – $529.4K
NOI $31,762 @ 7.0% cap · market cap 5.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$941.3K
$823.6K – $1.10M
NOI $65,890 @ 7.0% cap · market cap 11.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
100%
Occupancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,176
Businesses Nearby
Explore this area
Business Placement
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Single family property - Four fully renovated single-family homes are sold as a leased package, with tenants paying all utilities.
Where is this single family property located?
The property is located at 410 404 406 408 Charteroak Hot Springs, AR.
What is the asking price?
The asking price for this property is $585,000.
