Can you value a property based on AirBNB rental rates?

[Ran Iarovich]

Hi everyone,

I was curious as to how you would value a property that is primarily suited for an Airbnb? The specific property has no comparables, has lakefront access, and a very unique design.

More specifically: 

The home comprises 3 different attached dwelling units that can each be turned into a short-term or long-term rental. 

The uniqueness of the property has me gearing towards using it for Airbnb. Each unit can rent for $300/day - $900/day if fully occupied. 

It has a 75% vacancy rate, 3300 sq/ft, and fully remodeled. 

With utilities accounted for, how can I value the listing price that this property will bear? 

What is a good cap rate in Washington for AirBNB? 

[KiKi Chase]

For listing price, it really is unique to that area, amenities, etc. What's most important is that in the listing, if you're really trying to lean in to the ADUs being Airbnbs, then I would add to the listing all the research you have done for the revenue, nightly rates, etc. It may help highlighting these features by staging the ADUs with furniture, further show it. If the numbers make sense, I think it is worth marketing it as such. Good luck!