🏔️ 18% ROI Banner Elk STR That’s Clearly Underperforming (Big Upside)

💰 Did $75K — comps show $120K–$180K potential just minutes from skiing and downtown

Author

Alex Veytsman
March 28, 2026

💰 Fully Furnished • Walk to Town • Ski Access • $120K+ Potential

🔥 This One Is Mispriced (Here’s Why)

This deal looks solid at first glance…
But once you dig in, it’s clearly underperforming relative to what it should be doing.

👉 Did ~$73K in 2024
👉 With basically ZERO Q4 revenue (Hurricane impact)

And still…

👉 Pulled $12K in January alone (2026)

That tells you everything:
Demand is there. The asset just hasn’t been fully optimized.

🏡 The Asset

  • $640,000

  • 5 Bed / 4 Bath

  • 2,337 sqft

  • Nearly 1 acre lot (.95)

  • Located in Highlands community (highly desirable)

  • Fully furnished + operating STR

Layout is a winner:

  • Open main level built for groups

  • Large dining setup (everyone at one table = huge)

  • Multiple decks (key for mountain stays)

  • Walkout basement with:

    • Extra bedrooms

    • Game room (arcade + movie setup)

And yes:

👉 Hot tub included (must-have in this market)

💰 The Numbers (Pay Attention Here)

List Price: $660K

Gross ROI: 18%

Historic Revenue: ~$75K

Projected Revenue: ~$120K

Now look at comps:

👉 This property is sitting well below its potential band

🎯 Why This One Works

1. 📍 Location That Drives Bookings

  • ~1 mile to downtown Banner Elk

  • 5 miles to Sugar + Beech Mountain (ski demand)

  • No AWD/4WD required (underrated but huge)

This is year-round demand:
👉 Ski season
👉 Summer hiking
👉 Fall foliage

2. 🏡 Built for Groups (This Is the Money)

5 bedrooms is the sweet spot.

But more importantly:

  • Large shared spaces

  • Game room + movie setup

  • Multiple sleeping zones across floors

👉 This maximizes ADR + occupancy

3. 📈 Built-In Demand Advantage

Seller is handing over:

👉 3+ years of renter data + contacts

That is extremely rare.

You’re not starting from scratch — you’re stepping into:
✔ Repeat guests
✔ Direct booking potential
✔ Immediate revenue continuity

🚀 The Upside (This Is Where You Win)

This is not a heavy lift — just smart upgrades:

  • Light interior refresh → modern mountain aesthetic

  • Improve outdoor spaces (fire pit / seating / lighting)

  • Optimize pricing + listing strategy

  • Lean harder into group positioning

You’re not guessing — comps already prove $120K–$180K range is achievable.

💸 Financing Angle

If you’re looking to structure this as an STR investment:

⚡ Bottom Line

This is a high-margin Banner Elk STR with:

✔ Proven revenue (even through disruption)
✔ Strong comps well above current performance
✔ Prime location near town + ski resorts
✔ Turnkey setup with furnishings included
✔ Built-in guest pipeline

This is exactly the type of deal where:
👉 You buy right
👉 Optimize slightly
👉 And let it run

📲 Interested?