I'm working with a property in Brown County, Indiana that is fully approved for STR use under current regulations and has a documented operating history ($70k–$110k gross; ~$450 ADR).

Zoning restrictions prevent adding additional rental units on the parcel, so this is a single-asset STR where value is driven by privacy, acreage, and guest experience rather than scale.

Curious how other STR owners think about long-term value and defensibility in markets where zoning has tightened significantly.

Appreciate any operator insight.