Predicting STR Income
Hello! STR newbie here - I am looking at investing in a STR in the Durham, NC area and am trying to predict rental income. I've looked on Air DNA and used google / AI in addition to talking with a friend who has a few STR in the area. According to my friend he feels AirDNA is not totally accurate as his rentals have always out performed what AirDNA predicts
With that being said, are there any other suggestions on how to predict this in order to really accurately analyze the deals I'm looking at?
Additionally, any advice for a STR newbie would be appriciated!
Most Popular Reply
#2 Short-Term & Vacation Rental Discussions Contributor
- Tampa, FL
- 3,323
- Votes |
- 3,889
- Posts
#2 Short-Term & Vacation Rental Discussions Contributor
- Tampa, FL
Piggybacking a lot of the great responses above, I am an STR PM in Tampa FL as well as a sales broker. When I underwrite I use AirDNA (premium) where I can see the actual comps. I then look at the actual closest comps in terms of quality and amenities to the subject property. So if the subject house is a 3/2 basic renovated pool home I am looking for the closest in proximity and quality to the subject and using the 3 to form a bracket of high/low/mid and average. If its a popular area there should be plenty of data - if its a niche area it can be a bit trickier.
- Andrew Steffens
- [email protected]
- 813-563-0877
