Cape Cod Short Term Rental

[Joe Delgrosso]

Any folks out there have a short term rental in or near Cape Cod?

We have one in the Smokies but have family up in Boston. Curious about the pros and cons of an STR in that type of seasonal market.

Any advice or intel is much appreciated!

[Mike Gorius]

There is definitely a big market. A few buddies and I spent a week at a STR in the middle of July and they were charging $1,050/night. The property is your average single-family home (except for the 12 beds) in a quiet neighborhood about 15 min from the beach. I spoke with the owner and he said it was his first STR. They bought it in February for 620K and put another 40K into it. He listed it on Airbnb and within 10 days he had all of memorial day weekend through labor day weekend booked. My jaw dropped lol.

My folks are about to close on their first STR in Plymouth. The sellers put them in touch with a long-term renter who rents it from November - March at 3K/month. They plan to list it as a STR for the remaining months of the year.

@Mark Zippo and @Steven Malatesta I'll send a DM as well, if that's okay.