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Updated about 2 years ago on . Most recent reply

Rental expectations for a beach house split into a tri-plex?
I'm trying to run the numbers for a beach house in South Carolina and am having trouble figuring out the expected income. The house is 7 bed 4 bath in the Myrtle Beach area, but the house has been split up into a triplex consisting of a 3/2 top floor and two 2/1s beneath that. When I use the STR estimate tool here on BP I get the units bringing in somewhere around $45k each per year. I've also discussed the house with a property manager in the area and they estimate that the entire house would bring in around $75k a year once it acquired an established rental clientele. The two numbers ($135K from str tool and $75 from prop mgmt) are really far off.
Does anyone have any experience with a house like this? I was thinking that the units would be full in the summer and that they would also do much better in the off season than a regular 7 bed house because in the off season there are many more people looking for smaller units and not entire families coming for vacation.
Most Popular Reply

Hello Palmer,
Because the STR is subjected to the spring/summer season (April to September) of the rental year, and varies according to traffic during that season, I would be more inclined to trust the property management companies like (Elliott, Thomas, Dunes or Palmetto).