🔥 (14) Turnkey STR Homes for Sale | 6-12-24

^{TOGETHER WITH:}

Our midweek STR scouting report is sponsored by Vacasa. There is still time to fill up your summer calendar. Get your personalized income estimate to see how much money you may be leaving on the table.

🔥 In this email:

• Trending STR Homes for Sale: This week we have 14 new STR Homes for Sale

• STR Event Austin: There is still time to register for IMN Short Term Rental Forum in Austin, we hope to see you there!

• Trending News Nuggets: This week’s real estate, economy, and travel headlines.

Thank you for being a valued subscriber.

Best regards,

Andy Thoms
STR Scout

Please take our 60-second STR Scout survey to help us tailor our services to your specific needs!

One Twenty Brickell Residences (Miami Project)

🏡 $714K | Miami, FL: One Twenty Brickell Residences, modern studio, 465sqft in the heart of the city.

• All studios, 1, 2, and 3-bedroom residences come fully furnished and finished, each with a spacious balcony.

• Included in the purchase is a deeded office suite, providing an opportunity for additional rental revenue.

• Located next to Brickell City Center, the busiest neighborhood in Miami, this property promises both luxury and convenience.

View Property Details
Contact: Michael Barnard
Cell: 954-459-6266

TOGETHER WITH VACASA

See how much you could earn. Vacasa makes short-term rentals effortless.

Discover full-service vacation rental management. Get a personalized income estimate to see how much you could earn.

STR CLASSIFIEDS | OFF-MARKET PROPERTIES

$585K | Westminster, CO: Profitable STR near downtown, 15-20 mins from Boulder and Denver. Remodeled 4 years ago, 1690 sq ft, 4 beds, 2 baths, one-year-old hot tub, no HOA, and short-term rental license. Generates $60k/year with no advertising. Fully furnished and turnkey for investors. View Post.

$399K | Tucson, AZ: Fully remodeled 2 bed/2 bath condo for sale. Turnkey for investors. HOA allows short-term rentals. Grossed over $13.8K with Vacasa this year. View Post.

$950K | Kimberling City, MO: Stunning, fully furnished vacation home in Wilderness Mountain Resort. Features 5 beds, 5 full baths, private indoor pool, and resort amenities. Perfect for large families or groups. View Post.

STR CLASSIFIEDS | LISTED PROPERTIES  

$999K | Wittmann, AZ: Custom home on 5.7 acres with horse facilities. Built in 2020, 2 beds, 2 baths, open floor plan, and custom finishes. Features a fully equipped barn with nine stalls, arena, tack room, shop, and corrals. Ideal for horse enthusiasts. View Post.

$1.270M | Sevierville, TN: Two houses on 2 acres, perfect for families or rental investment. Main house and game house, each with 5 beds, 4 baths, sleeping 8 guests. Gourmet kitchen, stunning views, move-in ready. Ideal for serene countryside living or rental income. View Post.

$385K | Reliance, TN: Turnkey investment opportunity or serene vacation home. Fully furnished new construction, 2bd/1ba on 1.85 acres with river views. Minutes to hiking trails and boat launch. Ideal for rental income or personal retreat. View Post.

$1.8M | Lansing, MI: Portfolio of 8 properties with option for 2 more. Generating $25k+/mo, with NOI $16-19k/mo. Option to rezone for additional units. Includes website and future bookings. Financing available with 20% down. Serious inquiries only. View Post.

$595K | Ellijay, GA: Secluded riverside retreat on the Ellijay River. Fully furnished turnkey vacation rental. Features spacious deck, gazebo with fire table & hot tub. Cathedral ceilings, large windows for stunning river views. Direct river access with 190' frontage. Newly renovated lower level with private entrance. Unparalleled privacy & connection to nature. View Post.

$1.099M | Nashville, TN: 8 units available. Downtown skyline views. 4 beds, 4 baths, 1771-2146 SQFT. Front units with one rooftop, rear units with two, each with hot tubs. Multiple floorplans available. View Post.

$1.090M | Sarasota, FL: Profitable Airbnb property, 4 beds, 2.5 baths, 2347 sqft on 1/2 acre lot. Fully remodeled, high-end finishes. Heated pool, resort-style backyard. New roof, water heater, pool pump, HVAC, dishwasher. Close to Sarasota Bay, not in flood zone. Sleeps 12, gross revenue: 2022 - $202,905, 2023 - $183,291, YTD - $72,702. Fully furnished, turnkey. View Post.

$575K | Chattanooga, TN: 4-bed, 4-bath cabin near Rock City. Generated $60k/year past two years with no advertising. Listed on Airbnb and Vrbo. Possible owner finance with decent down payment. View Post.

$319K | Sevierville, TN: Investment opportunity in the heart of the Smoky Mountains! Modern amenities including electric fireplace and granite countertops. Outdoor charcoal grill and wood-burning fire pit. Additional exterior features include a 220v hot tub connection. View Post.

$269,900 | Gulf Shores, AL: 1/1 condo perfect for couples or small groups. Grossed $38k last year. Fully functional kitchen, swimming pool, and parking on-site. Short walk to the beach. View Post.

$895K | Kenai, AK: Custom home with 7 beds, 7 baths, and 2800+ sqft. Also includes 3 additional income-producing cabins on 4.8 acres. Minutes from Kenai River boat launch. Perfect income opportunity! View Post.

UPCOMING STR EVENT

We have attended IMN conferences since 2014! Join us for a fantastic event designed for STR real estate investors to network, learn, and grow. STR Scout subscribers and STR Homes for Sale members can enjoy a 10% discount using the coupon code SCOUT.

Don't miss this opportunity to enhance your STR investment strategies and connect with industry peers! Register

TRENDING NEWS NUGGETS

❄️ Cooling Florida Markets: Housing markets on Florida's west coast are cooling the fastest in the U.S. due to new construction, natural disasters, and rising insurance costs. North Port, Tampa, and Cape Coral lead the trend, with significant increases in inventory and price drops. While high costs are slowing many markets, areas like Rochester and Buffalo are heating up with more affordable options. — Redfin

📉 30-Year Mortgage Rates Drop: For the fifth consecutive day, 30-year mortgage rates have decreased, now at 6.85%, the lowest level in nearly three weeks. Rates for most other mortgage types also fell, with notable declines in 15-year fixed and jumbo 30-year rates. This drop comes as a relief from the recent high of over 7% and remains well below the historic peak of 8.01% seen in October. — Investopedia

💸 Mortgage Junk Fees Investigation: The Consumer Federal Protection Bureau (CFPB) has launched an inquiry into rising "junk fees" in mortgage closing costs, such as discount points, credit report fees, home appraisal fees, title insurance fees, and mortgage origination fees. These fees have increased significantly due to inflation, labor costs, and rising home prices, potentially impacting homebuyers' ability to afford down payments and maintain mortgage payments. The CFPB is considering new regulations or eliminating certain fees to ease the burden on homebuyers. — CBS MoneyWatch

🏡 Home Prices Decline Amid High Rates: Home prices are falling at the fastest rate since 2022 due to persistently high mortgage rates, with 6.4% of sellers cutting prices by late May. The median home price dropped by $3,000 to $416,623 last week, marking the first decline of 2024. Despite this, prices are still up 4% year-over-year. Real estate experts predict improved affordability as inventory increases and borrowing costs decrease. Pending home sales are down 3% year-over-year, while new listings rose by 7.8%. — Business Insider

📉 Rising US Debt Threatens Treasury Market: The US fiscal outlook appears bleak as the national debt has surged to $27 trillion from $12 trillion a decade ago. Market experts at the ISDA/Sifma Treasury forum highlight concerns that neither spending cuts nor tax increases are likely, regardless of election outcomes. The Congressional Budget Office projects the debt to hit $48 trillion by 2034. Elevated long-term Treasury yields, currently around 5.25%, reflect these risks. The growing debt and deficits pose significant challenges for investors and the broader economy. — Bloomberg

💼 White-Collar Hiring Slows: The U.S. labor market is cooling, significantly impacting white-collar workers. Vanguard data shows hiring for high-income employees (earning over $96,000) has dropped to 0.5%, the lowest since 2014, excluding the pandemic drop. In contrast, hiring for lower-income workers remains above pre-pandemic levels. Tech companies, which over-hired during the pandemic, are now cutting jobs and halting new hires. High interest rates and increased job retention due to flexible work options are also contributing to the slowdown. — FOX Business

⬇ California Condo Prices Plummet: Condo prices in California have dropped by up to 40% in some areas, with significant reductions in San Francisco, San Jose, and Los Angeles. As of June, 1,973 of the 8,476 condos listed on Zillow had their prices slashed. A San Francisco condo that sold for over $2 million in 2015 was recently sold for $1.17 million, a 41% decrease. The decline is attributed to high mortgage rates and the post-pandemic exodus from urban areas, despite a recent uptick in home prices. — Newsweek

👷‍♂️ US Job Openings Hit 3-Year Low: Job openings in the US fell to 8.06 million in April, marking a three-year low as the labor market cools. This is the second consecutive monthly decline and below economist expectations. Despite a slight increase in new hires to 5.64 million and a steady quits rate at 2.2%, layoffs remain low, indicating net job growth will likely continue. The Federal Reserve views this slowdown as positive for its inflation control efforts but expects to maintain current interest rates until more consistent data supports a reduction. — CNN

💰 $517 Billion in Unrealized Losses Hit US Banks: The FDIC reports that unrealized losses in the US banking system have surged to over half a trillion dollars due to higher mortgage rates impacting residential real estate securities. This marks the ninth consecutive quarter of high unrealized losses. The number of problem banks, at risk of insolvency, increased from 52 to 63, with total assets of these banks rising to $82.1 billion. Despite no imminent risk to the banking system, the FDIC warns that inflation, market volatility, and geopolitical issues continue to pressure the industry. — Daily Hodl

🧰 STR TOOL & RESOURCES

💰 STR Loan Quote: Use this link to get your STR loan pre-approval letter, get a DSCR loan, STR cash-out refi, or rehab loan.

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

🏘 STR Property Management, get a free STR income report, from pure data that comes from “actual STR rental comps” near you! Discover full service management with Vacasa, the nations largest manager.

⛑ STR Insurance Quote in seconds from Steadily to see how much you can save.