PCB (Panama City Beach) 3/3 2k SqFt Townhome
Hello. I'm looking at a Townhome that is 3 bed 3 bath, 2,000 sq ft, 2 kitchens on two different floors, peekaboo views of the ocean and is less than 1,000 ft from the water. The city is revitalizing the street with a new expanded and beautified road (palm trees, lights ect), and several old buildings are coming down and being replaced with new shops/restaurants. We've always wanted to live in FL and my goal is to live in the home as a primary residence as our family grows and then do STR in the future. My questions for those with PCB properties near the water:
1. AirDNA estimates my gross will be around $82k but Airbnb says a night rate of $180 is avg. (seems low for 2k sq ft w two kitchens) what have you found to be your gross for STR?
2. What advice would you give someone with no STR experience in this specific area?
3. In terms of remodel, what are the biggest pay offs if the target customer is multiple family clients, or clients with several children?