Furnished Four-Unit
For Sale
$445,000
500 Burchwood Bay Road, Hot Springs, AR 71913
MULTI_FAMILY - Hot Springs, AR
Property Size2,468 SF
Lot Size0.40 Acres
Price / SF$180.31
Days on Market100
Property Features for 500 Burchwood Bay Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Carport
Interior features
Washer-Stays, Dryer-Stays, Fan - Ceiling, Furnished
Exterior features
Gazebo
Appliances
Free-Standing Stove, Dishwasher, Refrigerator-Stays, Free-Standing Stove, Dishwasher, Refrigerator-Stays
Subdivision
Lackeys Lake Front #2
Lot features
In Subdivision
Elementary school
Hot Springs
Middle school
Hot Springs
High school
Hot Springs
Directions
From Central Ave., turn on Burchwood Bay Rd. to property on right (nearly across the street from Sam's Pizza).
Standard status
Active
Size
2,468 SF
Lot size
0.40 Acres
Taxes and HOA fees
Tax Description
Lt 8 & Pt Lt 9 Lackeys Lake
Tax Annual Amount
1500
Legal Description
Lt 8 & Pt Lt 9 Lackeys Lake
Building Details
Year built
1960
Number of units
4
Roof type
Shingle
Architectural style
Bungalow, Other
Additional Structures
Gazebo
Listing Agency:
ESQ. Realty Group - Hot Springs
(501) 255-0509
Listed By:
Beau Durbin · License #PB00055248
(501) 609-6493
Added: May 13
Changed: Aug 14
Last Checked: Aug 20 at 10:06AM
MLS# 26020275
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 2,468-square-foot quadplex contains four furnished units: one renovated 2BR/1BA residence, one updated 1BR/1BA unit, and two remodeled efficiencies. Separate short-term rental licenses support multiple leasing approaches, while one long-term tenant is already in place. Interior features include staying washers, dryers, ceiling fans, and refrigerators, along with stoves and dishwashers. A carport, gazebo, shingle roof, and bungalow-style construction are also included.
Built in 1960 on 0.4 acres, the property sits across from Sam's Pizza and within eyeshot of Lake Hamilton in Hot Springs. The remaining units can be used for short-term, mid-term, or traditional rental arrangements, subject to applicable licensing and operating requirements.
Built in 1960 on 0.4 acres, the property sits across from Sam's Pizza and within eyeshot of Lake Hamilton in Hot Springs. The remaining units can be used for short-term, mid-term, or traditional rental arrangements, subject to applicable licensing and operating requirements.
Key Highlights
- Four furnished units: 2BR/1BA, 1BR/1BA, and two efficiencies
- 2,468 square feet on 0.4 acres
- Separate short‑term rental licenses for each unit
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
$16,300
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
3.66%
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%
$326,000
$326.0K
Cap Rate 7%
$232,857
$232.9K
Cap Rate 9%
$181,111
$181.1K
Market Conditions
NOI Build-Up for 2,468 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
$25.2K $10.20/SF
− Vacancy
−$1.9K −$0.77/SF
EGI
$23.3K $9.44/SF
− OpEx
−$7.0K −$2.83/SF
NOI
$16.3K $6.60/SF
Area
Garland County, AR
Vacancy
7.50%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
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%
$326,000
Cap Rate 7%
$232,857
Cap Rate 9%
$181,111
Alternative Uses
Best Use
Multifamily LT 5
$232.9K
$203.8K – $271.7K
NOI $16,300 @ 7.0% cap · market cap 3.66%
Second Best
Apartment 5plus
$217.6K
$190.4K – $253.8K
NOI $15,230 @ 7.0% cap · market cap 3.42%
Theoretical Best
Office A
$451.3K
$394.9K – $526.6K
NOI $31,594 @ 7.0% cap · market cap 7.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
115
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?
Quadplex - Renovated, furnished multifamily property with licensed short-term rental flexibility and one existing long-term tenant.
Where is this quadplex located?
The property is located at 500 Burchwood Bay Road Hot Springs, AR.
What is the asking price?
The asking price for this property is $445,000.
What are key features of this property?
This property features: Four furnished units: 2BR/1BA, 1BR/1BA, and two efficiencies; 2,468 square feet on 0.4 acres; Separate short‑term rental licenses for each unit
