Short Term Rental in Mesa, Arizona
Hello everyone!
I am from the Central WI area in Green Lake, WI. I am looking to start my portfolio with an STR in a vacation market. An opportunity has come up to me in Mesa, AZ. I was wondering if anyone has information on that market. Also, I am wondering what resources you guys might use to study/ learn a market that is across the country from you. Thank you!!
#2 Short-Term & Vacation Rental Discussions Contributor
- Olympia, WA
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#2 Short-Term & Vacation Rental Discussions Contributor
- Olympia, WA
Hey @Garrett Jennings, we flew down there last week. Looking more in Sedona/Cottonwood/Flagstaff. For us, nothing beats going there in person. It was a nice getaway for the wife and I.
Otherwise, posting here will get things rolling. Look for a local investor agent as well.
Hey there! I’m a host in Phoenix and Scottsdale with 12 units. None in Mesa specifically, but I think I can help you.
The best place to start researching market data is strinsights.com. A friend of mine Kenny Bedwell created this software to extract the revenue and average valuation of properties by city. And you can also search by bedroom count. Look at ROI data.
Next you can go to Airdna.co. AirDNA is the most popular research tool for your purpose. I don’t particularly like it. It has limitations and some in accurate information. But it’s about as good as it gets for a specific short term rental market data.
That’s why I always go to step three, which is a grassroots evaluation of every similar property in your area. Literally just go to airbnb.com and stalk competitive listings to see their pricing.
Rankbreeze is other tool I haven't used yet but I know is amazing from hosts in my STR mastermind group. Kelvin Mah is the owner there, he's a genius too. It'll show you what price other comps have actually booked at! And you can search by bedroom count and city and everything too. Do your research and trust your gut. Healthy balance of both!
I also have elite Real estate agents here in AZ that can help you find an ideal spot, and I can run you an appraisal before you buy!
if you have any questions feel free to reach out to me on Instagram @MStone_Str
I personally wouldn't consider Mesa a vacation market and the main street corridor has always been known for being a C grade area. The only real attraction is the Cubs? spring training stadium in the north part. But what's gonna bring people the rest of the year? Scottsdale is what brings the out of state guests to vacation or attend events. Or possibly downtown Phoenix for conventions, business events, and what not. You also need to consider that the summers in the Phoenix metro are slow for STRs since it's so hot, most people can't hang.
Hey Garrett, if you're still looking for a STR, I would recommend taking a look around Downtown Gilbert and Downtown Chandler. Both growing cities and popular among tourists. I have a couple investors that are doing pretty good with their STRs there!
Hey Garrett. I'm a Phoenix based REI agent. Been living in Arizona for 8 years total now with a great understanding of the market here. I would suggest looking at info sparks' data on the current and historical status of the Phoenix RE market to get an understanding of what to expect. I can give you suggestions on certain neighborhoods that are highly desirable for vacation STRs. Phoenix metro is a hotbed for STRs from September to April. Reach out if you want some tips/advice!