What is the ROI (gross and net) for STR in OBX?

[Nick Harz]

I am looking into STR in OBX, what my research shows so far is you get around 10% of house value gross rents annually. So if I buy for $500K, $50K in annual rents.

Sales Price: $500K

Gross ROI: 10% = $50K

PM + Maintenance Expenses: 20% of rents = $10K

Net ROI: $40K

Mortgage, Insurance ($2.2K/month): annually $26400

Down payment: $100K

Closing: $5K

Net profit: $50K - $10K - $26.4K = $13.6K

Net Cash on Cash return: $13600/$105000 = 13%

I am getting 12% on LTR in the same city as I am in. Is STR for this return worth it?

What am I missing here?