My wife and I are big fans of White Sands Cove Resort which is just north of the cut. We have been there twice and plan on going back again next year. They have one and two-bedroom condos which are much nicer than any of the other rooms we have seen on the island. The managers/owners, mother and daughter, are very nice and willing to help out whenever they can.
The resort is clean private and convenient to town and very resonably priced. The only drawback is that they don't have a restaurant on the premises, but they do have full kitchens in the units and we have eaten at Captain Morgan's and Capricorn every time we have been there and both are less than a 15 min. walk away. All of their units have futons, so I'm pretty sure that their 2-bedroom unit has three beds.
They have kayaks on the premises and they offer fishing, diving, snorkeling, etc and are the first resort north of town (7 minutes away). We'd highly recommend checking them out.