Family groups were the main segment of demand in the area so we added a PS5, next level colorful beach chairs, Nintendo switch, hammocks on the deck, re-staged, retook the photos and increased revenue to $67k in a year that RevPars had decreased for the market   Woah Zach !

With rates dropping to under 3% now with extremely limited inventory any bump in demand will cause prices to increase not decrease but again it’s all economics that will determine value.

.- Mobile’s low cost of living and doing business provides a desired aspect to renters that can’t be achieved elsewhere, which provides a steady influx of renters thereby decreasing vacancy rates.

It's even more irrelevant if you are buying a similar home in a market that also has decreased in value.

Despite a slight decrease in total sales (-1.2% compared to 2023), average home prices have risen by 8.5%, with median home prices around $275,000 as of August 2024.

Timing wise as well, though the good STR properties haven’t seen much if any decline in prices have seen a decrease in competition to buy.

Feel free to reach out though if you'd like another look, certain areas have decreased rates for investors based on the area and price so might be eligible.

Interest rates decreasing a little more will be necessary to make this possible, too (DSCR loan).Also I will have another deal refinanced by then and gain about $70,000 of capital from refinancing that.

I'm a mortgage broker for DSCR loans, so maybe I'm biased, but I hate when the market blesses us with a 200 bps rate decrease in 6 months and folks want a larger blessing.Keep in mind, just 12 months, 8% was the average DSCR rate.

Create a list of properties you think are very similar to yours based on their listings and use those revenues to create your estimate.Keep in mind if you are just starting, expect about a 20% decrease in year 1 revenue compared to comparable listings.