Maggie Valley, NC Airbnb/Vaca Rentals

Short-Term & Vacation Rental Discussions
5yFollow

Maggie Valley, NC Airbnb/Vaca Rentals

Aaron Akins
Investor · Boise, ID · Member since 2021 · 52 posts · 11 votes

Hi All...

I'm just reaching out to see if anyone knows how well Maggie Valley vacation rental properties might do. I'd figure fall and winter might be the busy season around there, but I'm wondering how many tourists flock to that area in the Spring and Summer. Any thoughts or suggestions would be great. Thanks!

0Reply
157 views

Most Popular Reply

Loriel Keaton
Property Manager · Maggie Valley, NC · Member since 2021 · 16 posts · 12 votes
5y

We currently own a few STRs in Maggie Valley and do well year round. Happy to chat if you have more questions.

8Reply
See this reply in the discussion

26 Replies

Jump to latestLatest
  • Beau Watson
    Rental Property Investor · Atlanta, GA · Member since 2019 · 90 posts · 73 votes
    5y

    @Aaron Akins

    Hey Aaron, Asheville native, worked in Waynesville for 5+ years and frequent the area as I go to the casino and Cataloochee.

    All depends on marketing. You are 100% correct fall is the busy season. Cataloochee is a good winter attraction but is not a major resort that brings in huge numbers. If you market correctly you can hit the casino crowd year around. Cataloochee in the winter. Leaves in the fall. And hikers and kayakers in the spring and summer.

    Im doing a STR in Lake Lure area that will capture summer and fall mostly.

    2Reply
  • Ryan Lehman
    Rental Property Investor · Seattle · Member since 2019 · 50 posts · 21 votes
    5y

    @Aaron Akins me and my partners are currently in contract for a house in Maggie Valley as a STR. More than happy to answer any questions you have even though we are new to the area we have done a lot of research

    1Reply
  • Robert Wynne
    Rental Property Investor · The Woodlands, TX · Member since 2020 · 7 posts · 1 vote
    5y

    @Ryan Lehman

    We have been looking at Maggie ever since we went to the park last year. Sleepy little town, Kind of the anti-Gatlinburg. Seems like a lot of potential for rentals as people try to get away from the crowds. I am curious how summer rentals go there.

    0Reply
  • Ryan Lehman
    Rental Property Investor · Seattle · Member since 2019 · 50 posts · 21 votes
    5y

    @Robert Wynne, 

    The summer and October month are a huuuge hit and you will most likely see the highest occupancy rates. There are an abundance of activities: hiking, swimming, rafting, kayaking, tubing, zip lining, & farmer markets. People are coming to also see the water falls, adorable small towns to walk through, and the Blue Ridge.

    During the October month the leaves change and its truly just a beautiful site to see. Feel free to send me a direct message, I'm more than happy to jump on a call to talk more about the area and also provide you with any resources you might need.

    0Reply
  • Loriel Keaton
    Property Manager · Maggie Valley, NC · Member since 2021 · 16 posts · 12 votes
    5y

    We currently own a few STRs in Maggie Valley and do well year round. Happy to chat if you have more questions.

    8Reply
  • Gerald Pitts
    Lender · Asheville NC · Member since 2016 · 469 posts · 317 votes
    5y
    Originally posted by @Loriel Keaton:

    We currently own a few STRs in Maggie Valley and do well year round. Happy to chat if you have more questions.

     Hi Loriel, would you mind sharing bedroom count and annual gross?

    1Reply
  • Culin Tate
    Rental Property Investor · Maryland / Virginia / Caribbean · Member since 2018 · 53 posts · 43 votes
    5y

    You can get occupancy and seasonality data from AirDNA

    0Reply
  • Loriel Keaton
    Property Manager · Maggie Valley, NC · Member since 2021 · 16 posts · 12 votes
    5y

    Ryan is right about summer and fall!

    0Reply
  • Collin HaysBusiness Member
    Property Manager · Gatlinburg, TN · Member since 2020 · 3k+ posts · 4k+ votes
    5y

    I really like the Maggie Valley area.  As someone else so aptly said, it is the "anti-Gatlinburg" and there are many tourists looking for that vacation experience.

    [email protected]806-672-7102
    SMOKY MOUNTAIN FALLS INC.51 Review
    WebsiteView Page
    1Reply
  • Ryan Lehman
    Rental Property Investor · Seattle · Member since 2019 · 50 posts · 21 votes
    4y
    Originally posted by @Collin Hays:

    I really like the Maggie Valley area.  As someone else so aptly said, it is the "anti-Gatlinburg" and there are many tourists looking for that vacation experience.

    Do you currently invest in the Maggie Valley area?  

    0Reply
  • Aaron Akins
    OP
    Investor · Boise, ID · Member since 2021 · 52 posts · 11 votes
    4y

    @Collin Hays

    I'm curious to know what you mean by your comment? Are you suggesting (or agreeing with those who suggest) that Maggie is more desirable than Gatlinburg? 

    0Reply
  • Collin HaysBusiness Member
    Property Manager · Gatlinburg, TN · Member since 2020 · 3k+ posts · 4k+ votes
    4y
    Originally posted by @Aaron Akins:

    @Collin Hays

    I'm curious to know what you mean by your comment? Are you suggesting (or agreeing with those who suggest) that Maggie is more desirable than Gatlinburg? 

     Everyone’s idea of a vacation experience is different. I go to the Smokies to get away from people - fly fish, hike, etc.  So Gatlinburg isn’t attractive to me personally.  (Although I own two rentals in Gatlinburg for investment purposes).

    Vacationers that stay near Gatlinburg are there to be around other people.  Shows, rides, restaurants.

    I prefer lest touristy places in the smokies - such as Cosby.  I have rentals there that do amazing too.  Folks don’t stay in Cosby to go to Dollywood.  They’re there because their vacation experience preference is one of peace and quiet.

    Purely from an investment perspective, you can own properties in either of these spectrums and do fine.

    [email protected]806-672-7102
    SMOKY MOUNTAIN FALLS INC.51 Review
    WebsiteView Page
    4Reply
  • Jeff Tomkinson
    New to Real Estate · Raleigh, NC · Member since 2021 · 9 posts · 4 votes
    4y

    Interesting thread! We don't have any rental property in Maggie, but me and my family lived there for several years. Built a house right on the mountainside there, a couple minute drive from the town event space some 30 years ago! If they could ever get Ghost Town back in working order, that would certainly help with some increased renters through the town.

    2Reply
  • Jose Menendez
    Member since 2018 · 4 posts · 1 vote
    4y

    Very interested in the a Maggie Valley area for a vacation cabin. Do any of you know realtors in the area that work with short term rental investors? Thanks!

    0Reply
  • Aaron Akins
    OP
    Investor · Boise, ID · Member since 2021 · 52 posts · 11 votes
    4y
    Originally posted by @Jose Menendez:

    Very interested in the a Maggie Valley area for a vacation cabin. Do any of you know realtors in the area that work with short term rental investors? Thanks!

     I don't know of any, but I'm sure someone on BP does!

    1Reply
  • Brandon Jones
    Rental Property Investor · Maggie Valley / Waynesville & Charlotte, NC · Member since 2019 · 7 posts · 5 votes
    4y

    I own and manage 6 STR in Maggie Valley/Waynesville and they all do amazing year round. Started investing in the area back in 2014. Maggie Valley / Waynesville is truly a year-round destination that attracts lots of families and couples- the best STR renters! I typically run at an 80% occupancy rate although last year was closer to 90%. Winter brings the skiers to Cataloochee and is the slowest time with usually just Friday and Saturday night bookings. April - December I require a 3 night minimum and get lots of week long bookings. Like all areas Maggie Valley / Waynesville Real Estate market is hot and lots of homes selling are being converted to SRT. The majority of bookings come via AirBnB and VRBO. You can check out my AirBnB listings here to get an idea on what nightly rates go for as well as my calendar (which will usually start filling up in the next few weeks for the year).  I know this thread is older but happy to answer any questions if you still have them. 

    I have used the same Realtor since 2014 and she is fantastic, Ellen Sither. While she doesn't specifically work with Investors she is savvy and know what makes a good STR. I would recommend her to any investor!

    3Reply
  • Loriel Keaton
    Property Manager · Maggie Valley, NC · Member since 2021 · 16 posts · 12 votes
    4y

    We also have a fantastic realtor that has helped us purchase 4 STRs in the area. She knows what to look for to make a great vacation rental. Happy to share her info if anyone is interested.

    0Reply
  • Brady Richard
    Brusly, LA · Member since 2017 · 44 posts · 36 votes
    4y

    @Brandon Jones I have some questions regarding Maggie Valley. How may I contact you?

    0Reply
  • Mitch Davidson
    Lender · Asheville, NC · Member since 2020 · 463 posts · 507 votes
    4y

    Hi @Aaron Akins. I'm also local in AVL. My family and I have spent tons of time in the general region that Maggie is in, and are under contract for a new STR just a bit south of there. I feel 100% the same as @Collin Hays about a quieter mountain experience. 

    Beyond the average nightly rate and occupancy, which PriceLabs seems better for compared to AirDNA, I would recommend looking through a strong sampling of AirBNB/VRBO listings. Some of our towns may be similar in saturation, but one may be easier to compete in than another. Meaning, some of them have a noticeably higher frequency of drab décor and lousy photos, which to me spells opportunity. 

    If you're considering Maggie, perhaps also consider Waynesville, which is a hair closer to Asheville and is also hot regarding appreciation potential. 

    Like others have said, I think you'll be surprised at how much winter business you'll have, albeit at a lower price, in part because some of your competition will go offline for the winter. 

    Finally, beware that some HOA's in Maggie and the surrounding area don't allow STR, and you don't always get that from the listing.

    Happy to connect more by phone if you like. And to help with financing strategy, mortgage, whatever. 

    2Reply
  • Mitch Davidson
    Lender · Asheville, NC · Member since 2020 · 463 posts · 507 votes
    4y
    Recent local article about Maggie Valley's growth and future: https://wlos.com/news/local/ch...
    0Reply
  • Ryan MoyerBusiness Member
    Property Manager · Orlando Kissimmee Davenport Salt Lake City, Park City · Member since 2019 · 991 posts · 1k+ votes
    4y

    I've visited before and liked the area, so would love to own there.  The nightly rates look unimpressive though even at 80% occupancy.  Looking at some of the listings above a 4br/3ba with a view renting for $300/nt at the absolute peak of summer with rates generally going down from there the rest of the year.

    What does the ADR end up at for the whole year that 80% occupancy?

    I guess maybe it could make sense if you think it will one day blow up like the Smokies and that $500k-$600k property will be a bargain.  But at that price range grossing $70k-ish during a potential market top doesn't seem exciting.

    My mind can be changed but that's the impression I'm getting with a cursory look.

    Cosmic Vacations4.9174 Reviews
    WebsiteView Page
    0Reply
  • Matt Payne
    Real Estate Agent · Asheville NC · Member since 2019 · 69 posts · 54 votes
    4y

    I've helped a handful of investors buy in Maggie Valley and I think there is room for growth. Growth in the nightly rates based on the quality of the product that is starting to become available and be developed. I think many homes were just being tossed on VRBO without much professional touches and to @Mitch Davidson point many of these homes do not resonate or are able to command a higher price point. The more savvy investor or better STR marketing investor can make inroads in raising that nightly price point by upping the aesthetic game of the STRs. The location is ideal, with options galore, just a bit more rough around the edges than the more higher profile areas on the Blue Ridge. Maggie has the small mountain town vibe which is nice get away from it all feeling and only 45 mins from DT Asheville it makes for a sweet spot.

    1Reply
  • Mitch Davidson
    Lender · Asheville, NC · Member since 2020 · 463 posts · 507 votes
    4y

    My thoughts exactly, @Matt Payne. 

    @Ryan Moyer, I think you've asked a really great question here. For many of the STR listings in our general market, if you had to buy the home at today's price, and if it performed like some of the samples, it'd be less exciting.

    It would likely still be a better cashflow play than LTR though. And, although a bit less passive, your asset would be preserved like a fire truck due to constant cleaning and maintenance. I think that benefit is often overlooked.

    Also, when looking at sample listings, I think it's important to consider which homes are using dynamic pricing, and to look at which aren't allowing bookings for more than 90 days in advance. Meaning, some samples are leaving money on the table by way of non-changing pricing and allowing people to book as much as a year in advance. 

    And other samples are just poorly managed, poorly decorated, and/or poorly photographed. You can see this even in large homes that rent for $800-$1K/night. Thrift store qualify furniture, dark photos, etc. 

    If you're going to make your place great instead of good, I think you can assume you'll make at least 10-20% more than many of the samples.

    1Reply
  • William Beck
    Realtor · Branson, MO · Member since 2018 · 272 posts · 283 votes
    4y
    Quote from @Loriel Keaton:

    We also have a fantastic realtor that has helped us purchase 4 STRs in the area. She knows what to look for to make a great vacation rental. Happy to share her info if anyone is interested.

    @Loriel Keaton

     Who's the agent? Just curious to know. Have worked with agents there in the past. They were all flakey and never returned calls/didn't seem to care. 

    0Reply
  • Jacob F.Pro Member
    Investor · OR · Member since 2022 · 28 posts · 11 votes
    3y

    Wanted to restart this thread. Who ended up investing in Maggie Valley or Waynesville area in NC? I would like to connect with you and ask some questions. 

    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free