STR Beach Property in NC

[Parker Brand]

Hi BP Community!

I have been studying the short term vacation market on the North Carolina coast for the last few weeks, particularly Carolina Beach. From in-person chats with STR owners and data from AirBNB/HomeAway, the rental market is incredibly strong and very profitable in these areas.

For example, one half of a duplex (4bed/4bath) two blocks from the beach is for sale for $375,000. The opposite unit has 3 years of rental history averaging $2,250 a WEEK at ~70% occupancy. 

I understand there are additional costs involved with STR's, like property management fees, but I have run the numbers again and again and this property in particular would net ~$60k/yr performing at market average.

Is there something I'm grossly overlooking, or are the numbers really that good?