airbnb property for sale Park City Utah
Vastly known as the vacation capital in Utah during the winter season, Park City offers plenty of exciting restaurants and outdoor activities. It also features adventurous activities such as snowboarding and skiing, which attracts numerous tourists to the Sundance Film Festival!
If you are considering investing in Park City, it’s highly recommended to learn about buying a property for Airbnb in order to make sure that it’s profitable. To begin with, it’s certainly important to consider the major costs and revenue before deciding to purchase a property in Park City. Another excellent option is to do rental arbitrage as it’s fairly popular and does not require you to purchase a property.
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“Park City is a segmented market, that differs greatly from one neighborhood to the next.
Overall, the market for Park City does feel a little slower, perhaps a healthy change from the red hot market of the last two years. Inventory has been low but is building, which is encouraging for buyers. ”
Aside from looking at a property’s fascinating architectural design, proximity to major tourist areas, and accessibility to the best go-to places, the primary step is to determine profitability. In this article, we’ll discuss the metrics in order to gauge the best property investment.
This includes the best website recommendations for property investment in Park City, property gross rental yield, cash-on-cash return, and annual revenue, along with some of the most ideal and profitable properties according to their location. Stoked to learn more? Continue reading!
Is Property Investment Profitable in Park City Center?
Using an Airbnb estimator, it was discovered that a 2-bedroom apartment in Park City Centre can generate an annual revenue of $82,951 with a steady occupancy rate of 53% and a nightly rate of $365.
airbnb property for sale Park City Utah
Park City Properties: Home for Sale
Finding the best properties that have the potential to produce high yields and capital growth are certainly some of the preferences of major investors. It’s always best to ask for assistance from real estate agents to access exclusive and unique properties during the development stage.
At the same time, it’s even better when a property investor like you conducts research about predicted growths and market forecasts. Here are some of the profitable properties in Park City Centre along with the calculated gross rental yield, cash-on-cash return, and annual revenue:
3855 N Grand Summit Dr Unit 409Q4, Park City, UT 84098
1. Studio-type Property for Sale in Park City
Near Grand Summit Dr
Asking Price: $125,000
| GROSS RENTAL YIELD | 23.94% |
| ANNUAL REVENUE | $29,921 |
| CASH ON CASH RETURN | 46.04% |
3855 Grand Summit Q1 Dr Unit 460, Park City, UT 84098
2. 1-Bedroom Property for Sale in Park City
Near Grand Summit Dr
Asking Price: $187,000
| GROSS RENTAL YIELD | 20.54% |
| ANNUAL REVENUE | $38,417 |
| CASH ON CASH RETURN | 35.86% |
433 E 790 S, Pleasant Grove, UT 84062
3. 2-Bedroom Property for Sale in Park City
Near State St
Asking Price: $275,999
| GROSS RENTAL YIELD | 25.41% |
| ANNUAL REVENUE | $70,139 |
| CASH ON CASH RETURN | 50.47% |
315 S Center St, American Fork, UT 84003
4. 3-Bedroom Property for Sale in Park City
Near Veteran memorial Hwy
Asking Price: $299,000
| GROSS RENTAL YIELD | 31.58% |
| ANNUAL REVENUE | $94,430 |
| CASH ON CASH RETURN | 68.98% |
1474 W 220 N, Pleasant Grove, UT 84062
5. 4-Bedroom Property for Sale in Park City
Near State St
Asking Price: $524,990
| GROSS RENTAL YIELD | 28.92% |
| ANNUAL REVENUE | $151,836 |
| CASH ON CASH RETURN | 61.00% |
Conclusion
Since Airbnb is rapidly increasing and constantly changing for each city in the world, it is crucial to make decisions based on wild guesses. The data points mentioned in this article for Park City such as Airbnb occupancy rates, annual revenue, and average daily rate should be the primary basis before investing in a property.
Hence, if the data presented above has given you ideas to boost your strategic pricing plan for your business, then an Airbnb rental arbitrage calculator is certainly what you need for success in the long run. It’s a fact that some of the STR investors are also considering Airbnb Rental Arbitrage, but they still need to have a reliable data tool on which to base their conclusions!
As we live in a digital era, an accurate data analytics tool can help your business stand out among your surrounding competitors and benchmark your property by tracking the occupancy rates of competing listings in your preferred city.
