Building Details

Year built 2020

Listing Agency: Engel & Volkers Samara · Engel & Völkers s***@engelvoelkers.com Show Phone

Listed By: Pablo Fernandez

Added: Sep 22 Changed: Sep 23 Last Checked: Sep 26 at 10:06AM

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MLS# AM-5501254

Copyright © 2026 Engel & Völkers. 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 2,691-square-foot short-term rental property comprises a boutique collection of furnished villas completed in 2020. The accommodations include eight bedrooms, air-conditioning, full kitchens, and private outdoor areas. Shared improvements include a swimming pool, lounge spaces, landscaped gardens, hammocks, BBQ facilities, and secure parking.

The property is located in Cabuya, Costa Rica, approximately a 5-minute walk from the beach. Montezuma, Santa Teresa, and Cabo Blanco National Park are identified as nearby destinations, with restaurants, nature reserves, surf areas, and other coastal amenities in the surrounding area. The villas are presented as suitable for vacation rentals, a second home, relocation, or personal use.

Key Highlights

• 2,691‑square‑foot villa property completed in 2020
• Eight‑bedroom configuration across a boutique villa collection
• Approximately a 5‑minute walk from the beach

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

$22,429

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%

$448,580 $448.6K

Cap Rate 7%

$320,414 $320.4K

Cap Rate 9%

$249,211 $249.2K

Market Conditions

NOI Build-Up for 2,691 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

$42.3K $15.72/SF

− Vacancy

−$1.5K −$0.57/SF

EGI

$40.8K $15.15/SF

− OpEx

−$18.4K −$6.82/SF

NOI

$22.4K $8.33/SF

Area

Des Moines, IA

Vacancy

3.60%

Lease Rate

$15.72 /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%

$448,580

Cap Rate 7%

$320,414

Cap Rate 9%

$249,211

Alternative Uses

Best Use

Apartment 5plus

$320.4K

$280.4K – $373.8K (±1% cap)

NOI $22,429 @ 7.0% cap · market cap 2.81%

Second Best

Hotel Hospitality

$289.2K

$253.1K – $337.5K (±1% cap)

NOI $20,247 @ 7.0% cap · market cap 2.53%

Theoretical Best

Office A

$662.7K

$579.9K – $773.2K (±1% cap)

NOI $46,392 @ 7.0% cap · market cap 5.81%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Short term rental ...

Location Intelligence

Trade Area within ½ mile

2,104

Businesses Nearby

Explore this area Business Placement

Market

Vacancy Rate% for Multifamily in the U.S.

7.1% 2022

8.3% 2023

9.3% 2024

9.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this short term rental properties located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Short term rental property - Eight-bedroom villa collection with shared amenities, private outdoor areas, and furnished interiors near Costa Rica’s Pacific coast.

Where is this short term rental property located?

The property is located at Villas Cabuya Des Moines.

What is the asking price?

The asking price for this property is $799,000.

What are key features of this property?

This property features: 2,691‑square‑foot villa property completed in 2020; Eight‑bedroom configuration across a boutique villa collection; Approximately a 5‑minute walk from the beach