Best areas in Charlotte for ST rentals

Member since 2023 · 3 posts · 2 votes

Hello all,

I am new to Charlotte, we moved last year. Wondering if you would share your knowledge on the best areas to purchase property for ST rentals. I have one in Gatlinburg TN, would love to add more there but the market has increased like crazy, we got lucky, we purchased a few years ago. If you can share what areas are best areas to invest in ST rentals in Charlotte, would appreciate it. Thank you

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Angie CastroBusiness Member

Real Estate Broker · Charlotte, NC · Member since 2022 · 133 posts · 127 votes

Hey There! I'm Angie Castro a local Airbnb host and Real Estate Agent. I will always say that the best area for a short term rental is the one that specifically matches your needs. With that being said, if you have a budget between $500k-$750k I would suggest Noda, South End ( Wilmore), Wesley Heights, Plaza Midwood and Elizabeth. You definitely have to search thoroughly to find a good one but it's possible!

If your budget is between $350k-$500k I would suggest steering away from Charlotte as this price point is much more competitive and head to surrounding cities such as Kannapolis, Kings Mountain, Salisbury, Winston Salem, Denver, and many more. Many people ask why someone would stay in an Airbnb in non touristy areas but people travel for all kinds of reasons such as weddings, funerals, graduations, family reunions, and many more. Smaller towns also tend to lack nice hotels.

These suggestions are just to guide you but ultimately you have to find the one that makes sense for you. I suggest properties with 3+ bedrooms, and add something unique. For example, my Airbnb performs better than competitors even though is smaller because I commissioned an artist to paint a mural in every single room and that made it unique.

[email protected]704-318-5494

Angie Castro with Monarch Group4.847 Reviews

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Angie CastroBusiness Member
Real Estate Broker · Charlotte, NC · Member since 2022 · 133 posts · 127 votes
2y
Hey There! I'm Angie Castro a local Airbnb host and Real Estate Agent. I will always say that the best area for a short term rental is the one that specifically matches your needs. With that being said, if you have a budget between $500k-$750k I would suggest Noda, South End ( Wilmore), Wesley Heights, Plaza Midwood and Elizabeth. You definitely have to search thoroughly to find a good one but it's possible!
If your budget is between $350k-$500k I would suggest steering away from Charlotte as this price point is much more competitive and head to surrounding cities such as Kannapolis, Kings Mountain, Salisbury, Winston Salem, Denver, and many more. Many people ask why someone would stay in an Airbnb in non touristy areas but people travel for all kinds of reasons such as weddings, funerals, graduations, family reunions, and many more. Smaller towns also tend to lack nice hotels.
These suggestions are just to guide you but ultimately you have to find the one that makes sense for you. I suggest properties with 3+ bedrooms, and add something unique. For example, my Airbnb performs better than competitors even though is smaller because I commissioned an artist to paint a mural in every single room and that made it unique.
[email protected]704-318-5494
Angie Castro with Monarch Group4.847 Reviews
Website View Page
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Wyatt WolffPro Member
Lender · Charlotte, NC · Member since 2019 · 466 posts · 278 votes
2y
I would definitely check out the Denver area, and the Lake Norman area as well!
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Evans WrightPro Member
Rental Property Investor · Charlotte, NC · Member since 2014 · 101 posts · 92 votes
2y
Hey Sanjita! As Angie mentioned, your budget will determine what areas are the best to invest in Charlotte proper but I do think the areas surrounding uptown will perform well if you are willing to put the effort and resources to distinguish yourself from the competition. To get the most bang for your buck, I would focus on 4+ bedrooms since they are the least saturated in terms of inventory. AirDNA confirms this and has great resources for helping understanding STR performance and data.
Additionally, it is no longer good enough to have a nice house with furniture so focus on design that can distinguish yourself but also you must add amenities. Focusing on amenities was one of our top priorities when we were working with a my PM and interior designer. I own an STR by Lake Norman so I also agree with Wyatt that looking by there could provide fairly lucrative opportunities and the ease of access to the city. One of the things I was most surprised by is the amount of people that want to stay at our place for 30+ days in that area.
I am happy to provide additional info or connect you with people to help you continue building wealth. :-)

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Laura ShinklePro Member
Realtor · Charlotte, NC · Member since 2017 · 357 posts · 292 votes
2y
@Sanjita Pradhan I think Angie laid it out well. There's lots of potential in Charlotte, it just depends on what type of STR you want, and your price point. I would start with your ideal price point. That may dictate where would be the best location. Then an agent experienced in STRs would be able to point you in a few directions!
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Sanjita Pradhan
OP
Member since 2023 · 3 posts · 2 votes
2y
Quote from @Evans Wright:

Hey Sanjita! As Angie mentioned, your budget will determine what areas are the best to invest in Charlotte proper but I do think the areas surrounding uptown will perform well if you are willing to put the effort and resources to distinguish yourself from the competition. To get the most bang for your buck, I would focus on 4+ bedrooms since they are the least saturated in terms of inventory. AirDNA confirms this and has great resources for helping understanding STR performance and data.
Additionally, it is no longer good enough to have a nice house with furniture so focus on design that can distinguish yourself but also you must add amenities. Focusing on amenities was one of our top priorities when we were working with a my PM and interior designer. I own an STR by Lake Norman so I also agree with Wyatt that looking by there could provide fairly lucrative opportunities and the ease of access to the city. One of the things I was most surprised by is the amount of people that want to stay at our place for 30+ days in that area.
I am happy to provide additional info or connect you with people to help you continue building wealth. :-)

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