🔥 STR Homes for Sale - Scouting Report 5/25/24

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Welcome to this week’s STR scouting report, sponsored by Host Financial, your trusted STR loan experts who know how to get your STR deal across the finish line.

🔥 In this week's email:

• Trending STR Homes for Sale: Explore 34 turnkey STR homes for sale this week in 13 markets.

• AI’s Growing Role in STR’s: Hostaway’s new AI report reveals STR significant adoption of AI, here’s what you need to know.

• Trending News Nuggets: This week’s real estate, economy, travel, and str regulation headlines to keep you hand on the pulse.

Andy Thoms | STR Scout

We honor the brave souls who sacrificed for our freedom. This Memorial Day, we remember and give thanks.

Beautiful Custom Mountain Escape with Majestic Mountain Views near Glacier National Park

🏡 $1.495M | Kalispell, MT: Beautiful 5br 4ba custom home, 3312sqft with majestic mountain views near Glacier National Park.

• Revenue projections highlight an impressive range of $150k to $170k.

• Fully updated, offering magnificent views from nearly every room. This well-appointed home lives like a 5-bedroom with a huge bonus room, perfect for a bunkroom.

• Situated on a 5+ acre estate, there's ample room for outdoor activities and the potential for an ADU addition. Ideal for those seeking luxury and space.

View Property Details
STR Agent: John Hayes
Text or Call: 850-375-4113
Website

Lakefront Luxury Retreat Prime Investment Opportunity

🏡 $1.3M | Lake Lure, NC: Luxurious 5br 4ba lakefront retreat, 4873sqft with stunning views and direct access to Mirror Lake.

• Revenue projections highlight an average of $126k-$185k for hosts and up to $258k for super hosts. Ideal for large groups, boasting ample overflow space, an indoor pool, and various outdoor activities like fishing, swimming, boating, and hiking.

• Nestled in the serene Riverbend at Lake Lure community, this property is a prime STR investment opportunity.

View Property Details
STR Agent: Tyler Coon
Text or Call: 828-620-2541
Website 
Book a Call

Texas Coast Investment Vacation Home Close to The Beach!

🏡 $329K | Corpus Christi, TX: Charming 2br 3ba townhome, 1120sqft, just minutes from the beach!

• Rental history shows solid earnings with $31,933 in 2021, $28,508 in 2022, and $19,472 in 2023.

• Occupancy for 2024 is currently at 40%, with an annual average of 40%-47%.

• Fully furnished and turnkey, this townhome offers a great investment opportunity.

• Located close to NAS, shopping, and restaurants, and part of the Nemo Cay complex with a pool, wading pool with fountains, and a playground. Ideal for rental income or a relaxing beach getaway.

View Property Details
STR Agent: Debra Brock
Text or Call: 361-215-6635
Website

Host Financial has successfully financed numerous members in our group for STR purchase, refinance, and rehab loans.

Discover their full array of competitive STR loan solutions that will help you achieve your financing goals:

• STR Cash-Out Loan: Access your equity to generate cash.

• STR Bridge Loan: Use your equity for short-term needs.

• STR Rehab Loan: Upgrade or expand your STR.

• STR Pre-Approval Letter: Strengthen your purchase offers.

You need a trusted STR lender on your team. Get a quote, build a relationship with a trusted STR lending specialist, and explore how their loan solutions can help you achieve your financial goals. It’s fast and easy.

STR CLASSIFIEDS | OFF-MARKET PROPERTIES

🧮 Airdna’s Revenue Calculator: Use this link to estimate your earnings potential on any STR homes for sale.

💰 STR Loan Quote: Use this link to get your STR loan pre-approval letter.

$1.25M | Key Largo, FL: Owner financing available. 3 bed, 2 bath custom concrete unit built in 2021. Successful STR with spectacular bay sunset views from the rooftop deck. Community amenities include boat ramp, dockage, heated pool, hammock area, and playground. Low $175 HOA. View Post.

$468K | Coachella, CA: Welcome to Casa Laylow! This stylish 3 bed, 2 bath desert getaway offers luxury and comfort. Perfect for relaxing or festival-going. View Post.

$959K | Sevierville, TN: Turnkey 4-bed/4-bath cabin in Smoky Mountains. 3-year rental history, $160K gross income in 2023. Prime location, custom wood carvings, luxury fire pit, hot tub, arcade games. Fully furnished for immediate listing. View Post.

$235K | Cleveland, OH: Turnkey 3-unit Airbnb building. Quick close needed for 1031 exchange. Consistent $60-70K/year revenue. Owner selling below market. Don't miss out. View Post.

$1.999M | Kailua Kona, Hawaii: Rare opportunity to own two fully furnished, turnkey properties in a boutique oceanfront community. 6 beds, 6 baths, with potential for lucrative vacation rentals. Off-market sale, quick close available. View Post.

$519K | Preston Hollow, NY: Established 4-cabin glamping STR business with 3-bed house on 4 acres. 13-year superhost. Approved by town. Potential $80-90K revenue/6 mos. View Post.

$415K | Eugene, OR: Charming 1924 Bungalow, income-generating Airbnb. Vintage charm with modern updates, prime location near amenities, University of Oregon. Potential for higher ROI. View Post.

$749K | Cape Coral, FL: Turnkey 4-bed, 3-bath vacation rental on waterfront canal with Gulf access. Fully renovated in 2023, heated pool, in-law suite, impressive revenues. View Post.

STR CLASSIFIEDS | LISTED PROPERTIES

🧮 Airdna’s Revenue Calculator: Use this link to estimate your earnings potential on any STR homes for sale.

💰 STR Loan Quote: Use this link to get your STR loan pre-approval letter.

$489K | Hocking Hills, OH: Turnkey STR investment - Sly Fox Cabin. Cozy wood stove, hot tub, shuffleboard, near attractions. View Post.

$450K | Kissimmee, FL: Exceptional investment opportunity in Windsor Hills resort community. Fully renovated 3-bed, 3-bath home with private pool and screened patio. Minutes from Disney and Sunset Walk. View Post.

$865K | Pigeon Forge, TN: Turnkey 4-bed, 3-bath cabin with 'Guest Favorite' Airbnb rating and 'Exceptional' VRBO rating. Sold fully furnished. Features include private sauna, hot tub, game room, and smart home tech. 1 mile from Dollywood. View Post.

$1,995,777 | Volente, TX: Stunning 5-bed, 4.5-bath Lake Travis waterfront estate with panoramic views. Private, custom-built with electric tram to 2-slip boat dock. Multiple living areas, ideal for gatherings. View Post.

$695K | Stanton, KY: Investment opportunity with (2) cabins, strong projected rental income, near Red River Gorge. Includes amenities like hot tub, ping-pong, fire pit, fiber internet, and EV charger! View Post.

$1.495M | Glacier NP, MT: Custom 4-bed (potential 5th) home with stunning mountain views. Income projection: $150K-$170K. 3312 SF, 4 baths, on 5+ acres. Near Glacier NP, Whitefish Resort, Flathead Lake. Perfect for outdoor activities and future ADU. View Post.

$269K | San Antonio, TX: Ideal 4-bed, 2-bath STR just 5 mins from San Antonio Airport. Close to major attractions and universities. Managed by Vacasa, grossed $24k last year. Opportunity for optimized revenue. View Post.

$3.095M | Rockbridge, OH: Stately brick estate on 33+ acres in Hocking Hills. 10,000+ SF, 8+ beds, 7 full baths, 3 half baths. Indoor pool, gourmet kitchen, game room, and bunk room. Fenced pastures, barn, fishing ponds. Positive cash flow as STR, fully furnished. View Post.

$1.650M | Saratoga Springs, NY: Premier 5-star STR with 3 renovated cottages on a lakeside oasis. Modern luxury meets rustic charm, prime lake access, stunning deck & dock. Turnkey investment. View Post.

$599K | Broken Bow, OK: True rustic charm awaits at Eagle View Lodge. 3-bed, 3-bath cabin near Broken Bow Lake. Fully furnished. View Post.

$325K | Lynchburg, VA: Turnkey STR, 12 mins from Liberty U, 10 mins from Downtown. 3 bed, 2 bath with sunroom. No HOA, one-time STR fee. Sale includes all furnishings. 5.0 rating on Airbnb & VRBO. View Post.

$799K | Smithville, TX: Central Texas Ranch - Fully furnished 4 bed, 3 bath, ~2700 sqft on 12.8 acres. No restrictions, 2 outbuildings, 2 RV/EV hookups, entertainer's kitchen. East of Bastrop, 50 mins to Austin. Seller may consider rate buy-down. View Post.

$1.150M | Gatlinburg, TN: Stunning cabin with spectacular mountain views, close to downtown and attractions. Newly built in 2021 with 4 ensuite bedrooms, 6 baths, gourmet kitchen, game room, and hot tub. Grossing $97K in 2023. View Post.

$549K | Nashville, TN: Reduced price for side-by-side 2-bedroom units. Fully furnished, professionally designed, and located in a prime STR area. MUG Zoning for NOO STR Permitting. Each unit features 2 beds, 1.5 baths, 1,074 sqft, and 2 balconies with skyline views. View Post.

$355K | Sevierville, TN: Get into the Smokies STR market with this 2 bed, 2 bath townhome, 1,200 sqft, at 1492 William Holt Blvd. Ready to rent with projected gross revenue of $50k-$60k/year. Seller open to creative financing deals. Motivated seller with multiple off-market townhomes available for portfolio deals. View Post.

$1.125M | Hollister, MO: Brand new turnkey vacation rental on Table Rock Lake! 9 bed, 9 bath with open concept design, fireplace, and deck. Motivated seller, creative financing options available. View Post.

$799K | Nashville, TN: Fully furnished STR in NOO-STR zone. Turnkey ready with stocked supply closet. Metro permit assistance. Act now! View Post.

$409K | Mentone, AL: Warm cabin retreat on Lookout Mountain. Ideal for living, vacation, or investment. Superhost rental. Fully furnished. View Post.

$850K | Nashville, TN: Stunning 4 bdrm, 4 1/2 bath Airbnb New Construction. Rooftop terrace with city views & hot tub. Fully furnished, chef's kitchen, luxury finishes. Projected $125K-$150K income. View Post.

$1.15M | St. Augustine, FL: Meticulously remodeled 4-bed, 3-bath home in Uptown district. Thriving short-term rental history. Sunlit rooms, chef's kitchen, backyard firepit. CL2-zoned. View Post.

$115K | Orlando, FL: 1-bed condo, 2 mi from Disney. Great building. Listing agent owns 2 units here. Updated unit grossed $10k in 2023. View Post.

$450K | Smithville, TN: Motivated seller! Lake view home with 2 wrap-around decks, hot tub, furnishings negotiable. Neighborhood boat ramp. No HOA fees. View post.

RATE WATCH - TOGETHER WITH HOST FINANCIAL

💵 DSCR loans, purchase, refi, or rehab loans. Get a quote.

💸 10 Year Treasury yield INCREASED from prior week to 4.48%.

🏦 Conventional mortgage rate average DECREASED slightly from prior week to 7.59%.

TOGETHER WITH HOSTAWAY

📊 AI's Growing Role in Short-Term Rentals

The 2024 report by Hostaway reveals a significant rise in AI adoption among property owners and managers, with 70.1% now using AI, up from 57% in 2023. Key uses include price optimization (41.4%), marketing (30.1%), and chatbots (29.7%).

Despite doubts about cost savings and occupancy impact, over one-third report significant time savings. Optimism about AI remains high, with 75.6% viewing it positively, though concerns about human connection and complex issues persist.

This report is essential for property owners and managers seeking a competitive edge and insights into AI's evolving role in their industry. — Read Full Hostaway Report

Discover how Hostaway property management and channel management can help you grow your STR business. Schedule a demo.

TRENDING NEWS NUGGETS

Airbnb News

🌍 Airbnb Cuts 5,000 Experiences: Airbnb is removing 5,000 experiences from its platform, effective June 20, and canceling future reservations. The decision impacts many operators who have relied on Airbnb for bookings. The company cited the need to maintain high standards in expertise, uniqueness, and guest satisfaction. Operators expressed shock and concern over the abrupt notice and potential loss of customer reviews. This move follows Airbnb's recent launch of exclusive Icons experiences and suggests a shift in strategy towards higher-profile offerings. — Phocuswire

🏘️ Top 15 Cities Dominated by Airbnb Megahosts: Airbnb hosts with over 20 properties, or "professional hosts," control more than 50% of listings in these cities. Steamboat Springs, CO, tops the list with 68.5% of listings run by large-scale hosts, followed by Deep Creek Lake, MD (72.8%), and Lincoln City/Newport, OR (58.1%). Other notable cities include Myrtle Beach, SC, and Kauai, HI. These hosts often leverage economies of scale, but face challenges such as local restrictions and competition with smaller operators. — Insider

🏡 Airbnb Hosts Face Unpredictable Summer: With an increase in short-term rental listings, hosts are feeling the pressure to stand out. Strategies include direct bookings to avoid fees and hiring influencers for promotion. Hosts report more last-minute bookings, adding stress. Direct booking offers higher returns but comes with risks like lack of insurance. Influencers are used for marketing and driving direct bookings, with some hosts trading free stays for promotional content. This summer, hosts must navigate increased competition and unpredictable traveler behavior to maintain occupancy. — Insider

🏠 Airbnb CEO on Carbon Monoxide Detector Mandate: Airbnb CEO Brian Chesky discussed the challenges of mandating carbon monoxide detectors across 220 regions due to varying local regulations. Despite a commitment made in 2014 following carbon monoxide-related deaths, only 2.3% of listings have received free detectors. Chesky emphasized the difficulty of verification but assured that Airbnb is working to ensure safety. He also highlighted the potential of AI to enhance user experience on the platform. — NBC News

Real Estate

📈 Home Prices Continue to Rise: In April 2024, U.S. home prices rose by 0.5% from March, marking the sixth consecutive month of increases, and surged 7.3% year-over-year. Despite high mortgage rates dampening buyer demand, a low supply of homes for sale drives prices up. Listings are 20% below pre-pandemic levels as many homeowners stay put, benefitting from low rates secured during the pandemic. — Redfin

🏠 Existing Home Sales Decline: April saw a 1.9% drop in existing home sales from both March and the previous year, but inventory is up 16%, especially in higher-end homes. The median home price hit $407,600, the highest ever for April. Rising inventory is making the market more buyer-friendly despite high interest rates. — Real Estate News

🏡 Rise of 'Rentvesting': Increasingly, Americans are renting in expensive cities while buying investment properties in more affordable areas. This trend allows them to build equity and generate rental income without compromising their desired urban lifestyle. High real estate prices and mortgage rates, coupled with the appeal of passive income and wealth building, drive this practice. Challenges include managing dual housing costs and landlord responsibilities. The trend, seen as a strategic financial move, is expected to grow as urban housing affordability remains a concern. — Realtor.com

🏡 Homes Overvalued in Most of U.S., Worst in 5 States: A report by Fitch Ratings reveals that U.S. homes were overvalued by 11.1% at the end of 2023, affecting 90% of metro areas. Tennessee, Arkansas, South Carolina, Montana, and Alabama saw the sharpest rises. Underbuilding, high mortgage rates, and expensive construction materials are key factors. A housing shortage, worsened by sellers' reluctance to sell due to low pandemic-era mortgage rates, limits supply. Mortgage rates remain elevated, with the average 30-year loan at 7.02%, pushing the median monthly housing payment to a record $2,775. — FOX Business

Economy

💰 Freddie Mac's Proposal to Tap Your Equity: Freddie Mac plans to purchase single-family closed-end second mortgages to help homeowners tap into their home equity without losing their low first mortgage rates, potentially offering a lower-cost alternative to cash-out refinances in a high interest rate environment. This move aims to allow home owners to tap into $850 billion of trapped home equity like a piggy bank. — Moneywise

🌍 Jamie Dimon Warns of Lingering Inflation and Financial Strain: At JPMorgan's investor day, CEO Jamie Dimon highlighted concerns about persistent inflation, high interest rates, and dwindling savings. He warned that inflation could remain at 4% for the next year, impacting investment appeal. Dimon noted rising rates could make risk assets less attractive and emphasized the financial strain on consumers and small businesses. He also cautioned about the worsening budget deficit and national debt, predicting future economic challenges. Dimon's outlook reflects broader anxieties about economic and geopolitical uncertainties. — Insider

Travel Trends

✈️ Experiential Travel Boom: Summer 2024 sees a surge in experiential travel, with the industry expected to reach $1.6 trillion. Travelers prioritize unique experiences, with Airbnb's Summer 2024 Icons Program offering exclusive adventures. Adventure, culture, and nature are top draws, with destinations like Puerto Rico and Vietnam gaining popularity. Wellness and domestic tourism also thrive, highlighting a shift towards meaningful, transformative travel. — Hospitality Net

🌍 Travel Trends 2024: Very interesting report. Despite economic challenges, travel spending remains strong with longer trips and record-breaking passenger traffic. Notable trends include growth in cruise travel, increased spending on experiences, and more strategic travel planning. Top destinations like Japan, Ireland, and Romania see significant tourist spending boosts. Elevated prices due to demand-pull and cost-push inflation persist, but travelers continue to prioritize meaningful, immersive experiences. Think and invest globally? — Mastercard Economics Institute

🌴 Boomer Couple Finds Financial Freedom in Portugal: Ann, 67, and her husband moved from Arizona to Portugal two years ago, alleviating financial worries they faced in the U.S. Their expenses, such as $82 monthly for TV and internet and $275 for health insurance, are much lower. Despite bureaucratic challenges, their quality of life has significantly improved, allowing them to enjoy travel and leisure. The move highlights the difficulties many older Americans face in retiring comfortably in the U.S., pushing some to consider more affordable international options. — Business Insider

STR Regulations

🏠 Honolulu Officials Consider New Short-Term Rental Regulations: Following a new state law empowering counties to control short-term rentals, Honolulu is deliberating on how to enhance enforcement. The city previously attempted to extend the minimum rental period from 30 to 90 days, but a federal court blocked this. The new state law now allows phasing out non-conforming use permits for rentals in residential areas. Councilmember Tyler Dos Santos Tam advocates focusing on bad actors and reassessing enforcement measures. The economic impact remains a concern, as short-term rentals contribute significantly to state and city revenue through the Transient Accommodations Tax. — Hawaiʻi Public Radio

🎉 York Voters Reject Short-Term Rental Rules: Finally, a WIN for STR! York residents narrowly defeated a proposal to regulate short-term rentals, requiring owners to register and obtain a three-year permit. The referendum failed by 241 votes, sparking debate over property owner burdens and neighborhood quality of life. — Maine Public

⛷ Keystone Plans Short-Term Rental Regulations: Keystone, Colorado, aims to establish its own short-term rental licensing and enforcement by September 30 as Summit County ends its administration. The town council must pass an ordinance by early July and is considering AI tools for application processing and enforcement. With only 17 complaints logged this year, officials debate the need for a chatbot or an on-call hotline for managing violations. — Summit Daily News

📣 Plano Limits Short-Term Rentals: Plano City Council enacted regulations prohibiting new short-term rentals in single-family neighborhoods, requiring registration and zoning compliance. Existing rentals from before a 2023 interim ban are allowed if continuously listed. The regulations, influenced by other cities’ policies, aim to address complaints about noise, parties, and trash, while mandating $1 million liability insurance and $300 annual registration for operators. — Community Impact

🏠 Cleveland Proposes Strict Short-Term Rental Rules: Cleveland City Council introduced legislation requiring annual licensing for short-term rentals, limiting their number in residential areas, and imposing fines for violations. The proposal includes a $150 annual license fee, $300,000 liability insurance, and a local contact requirement. Existing rentals are exempt from new limits, but new ones face stricter controls. Council members aim to address neighborhood complaints while balancing economic benefits for hosts. — News 5 Cleveland—