💰 $180K+ a Year from a Fully Furnished Lake Norman Waterfront STR

🌊 $1.935M • $180K+ Annual Rental Revenue • 4 Bedrooms • 4 Bathrooms • 4,154 Sq Ft • Fully Furnished • Brand-New Dock • Crow’s Nest with 360° Views • Fire Pit • Multiple Waterfront Decks

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🚨 $180K+ in Annual Revenue—with Lake Norman in the Backyard

There's a pretty straightforward investment story here:

Buy a proven $180K+ vacation rental on Lake Norman—and get more than 4,100 square feet of furnished waterfront real estate underneath it.

Offered at $1,935,000, this property is currently operating as a successful vacation rental generating more than $180,000 per year.

But the revenue is only half the appeal.

The home sits directly on Lake Norman with a brand-new private dock, multiple lakeside decks, an oversized screened porch, fire pit steps from the water, and an incredible crow's nest offering 360-degree panoramic views.

Inside, there's more than 4,150 square feet of living space, five sleeping areas with water views, and enough room to accommodate the large family and group trips that make lake houses such natural vacation rentals.

And it's being sold fully furnished, allowing a buyer to continue the existing operation rather than starting from scratch.

👉 🏡 Express Interest in this property here.

🏡 The Asset

219 Penicillin Point

Troutman, NC 28166

💰 Offered at: $1,935,000

🛏️ 4 Bedrooms

🚿 4 Bathrooms

📐 4,154 Sq Ft

💰 $180,000+ in Annual Vacation Rental Revenue

🌊 Direct Lake Norman Waterfront

🚤 Brand-New Private Dock

🛋️ Fully Furnished

🛏️ Five Spacious Sleeping Areas

🌅 Water Views from Every Sleeping Area

🦅 Crow's Nest with 360° Panoramic Views

🔥 Lakeside Fire Pit

🌲 Multiple Waterfront Decks

☀️ Oversized Screened Porch

🎨 Renovated Interior

🏠 Freshly Painted Exterior

🏄 Boating, Swimming & Paddleboarding from the Property

This isn't simply a high-performing rental that happens to be near Lake Norman.

The lake is the experience.

💰 $180K+ in Proven Annual Revenue

Let's start with the number.

According to the listing, the property is currently generating:

$180,000+ Per Year

in vacation rental revenue.

Against the $1.935M asking price, $180K represents gross annual revenue equivalent to approximately 9.3% of the purchase price.

Of course, gross revenue isn't profit.

A buyer will want to review management costs, utilities, cleaning, maintenance, insurance, property taxes, dock upkeep, landscaping, platform fees, repairs, occupancy, and the complete booking history.

But this isn't an investment thesis built around a projection.

The home is already operating successfully as a vacation rental.

🌊 You're Buying Lake Norman Waterfront

Revenue is important here, but so is the underlying asset.

This is a 4,154-square-foot waterfront home directly on Lake Norman.

Guests aren't driving somewhere else to access the primary attraction.

They can wake up, walk outside, and spend the day:

🚤 Boating

🏄 Paddleboarding

🏊 Swimming

🎣 Fishing

☀️ Relaxing on the dock

🔥 Sitting around the fire pit

🌅 Watching the lake at sunset

For a vacation rental, that creates a strong built-in experience.

And for a second-home buyer, it means the property can be something you'd actually want to use yourself.

🚤 A Brand-New Dock

The home recently received a brand-new dock, which is a particularly notable improvement for a lakefront property.

It creates direct access to the water and gives guests a natural centerpiece for their stay.

Morning coffee on the dock.

Swimming in the afternoon.

Boat days on Lake Norman.

Sunset by the water.

The best STR amenities are often the ones that don't need much explaining in the listing photos.

A private dock on Lake Norman qualifies.

🦅 Then There's the Crow's Nest

This may be our favorite feature.

At the top of the property is an incredible crow's nest with panoramic 360-degree views across Lake Norman and the surrounding landscape.

It's one of those spaces that can become whatever the owner—or guest—wants it to be:

💻 Home office

🧘 Fitness or yoga room

🎨 Art studio

📚 Reading retreat

☕ Morning coffee spot

🌅 Sunset lookout

For an STR, it's also exactly the kind of distinctive architectural feature that helps a property feel memorable rather than interchangeable.

There are plenty of lake houses.

Not all of them have a lookout above the treetops.

🛏️ Five Sleeping Areas—and Everyone Gets a View

Although the property is listed with four bedrooms, the home offers five spacious sleeping areas.

Even better, according to the listing:

Every sleeping area has a water view.

That's a pretty nice solution to the classic group-vacation problem where one couple gets the spectacular lakefront bedroom and somebody else gets a view of the HVAC unit.

The layout is designed to accommodate larger gatherings while still providing guests with privacy.

For a vacation rental, that helps the entire group feel like they're getting the lake-house experience.

☀️ The Screened Porch Might Be Where Everyone Actually Lives

One of the property's major improvements is its expansive screened porch.

With soaring wood ceilings and direct connection to the waterfront setting, it's designed to function as a true extension of the house.

That's particularly useful for a vacation rental.

Guests can enjoy the outdoors without necessarily dealing with every insect in North Carolina wanting to join them for dinner.

Between the screened porch and multiple lakeside decks, the property has substantial usable outdoor living space.

🔥 Fire Pit Steps from the Water

Then there's the lakeside fire pit.

It's simple, but it's exactly right for the setting.

After a day on the boat:

🔥 Light the fire

🍷 Grab a drink

🌅 Watch the sunset

🌊 Sit by the lake

For group vacation rentals, these gathering spaces matter.

They give guests something to do at the property after the day's activities end—and help turn the home itself into part of the vacation.

🔨 Recently Updated Inside & Out

The sellers have also invested in the physical property.

Recent improvements include:

🎨 Beautifully renovated interior

🏠 Freshly painted exterior

🚤 Brand-new dock

☀️ Expansive screened porch

Combined with the home's existing decks, outdoor entertainment areas, and furnished interior, a new owner isn't starting with a dated lake house requiring an immediate overhaul.

The property is positioned to continue operating.

🛋️ Fully Furnished

And that's particularly important because the home is being offered:

Fully Furnished

For a 4,154-square-foot property, furnishing from scratch can be a significant project—and a significant check.

Here, the existing furniture comes with the property, allowing a buyer to potentially continue using it as an investment or vacation home without rebuilding the entire setup.

Buyers should confirm the exact furnishing inventory and any exclusions during diligence.

👨‍👩‍👧‍👦 Built for the Group-Travel Segment

The layout is particularly interesting from an STR perspective.

You have:

🛏️ Five sleeping areas

🚿 Four bathrooms

📐 4,154 square feet

🛋️ Large gathering spaces

☀️ Screened outdoor living

🌲 Multiple decks

🔥 Fire pit

🚤 Dock

🌊 Lake access

That's the kind of setup that works naturally for multi-generational families, groups of friends, reunions, and lake weekends.

Large groups want enough communal space to be together—but enough separate space that they don't have to be together every second of the trip.

This house appears designed around that balance.

📈 The Investment Story

The numbers and underlying asset break down pretty simply:

🏡 Asking Price: $1,935,000

💰 Annual Rental Revenue: $180,000+

📊 $180K Revenue / Price: ~9.3%

📐 Living Space: 4,154 Sq Ft

🛏️ Sleeping Areas: 5

🌊 Lake Norman Waterfront: Yes

🚤 Private Dock: Brand New

🛋️ Furnished: Yes

🔑 Existing Vacation Rental: Yes

This isn't the highest revenue-to-price ratio we've featured.

But that's not really the whole story here.

You're buying a large, updated, fully furnished Lake Norman waterfront home with an existing six-figure rental business attached to it.

That creates an interesting hybrid between lifestyle real estate and an income-producing asset.

🏡 The Second-Home Angle Is Strong Here

Some STRs make perfect sense in Excel but aren't necessarily properties you'd be excited to spend a month in yourself.

This one is different.

You could use it as:

💰 Full-time vacation rental

🌊 Personal lake house

🏡 Primary residence

🔀 Hybrid second home + rental

And when you're there yourself, you're getting direct lake access, boating, paddleboarding, swimming, multiple decks, a screened porch, a fire pit, and panoramic views.

That's a compelling proposition for a buyer who wants their investment property to also be a place their family actually uses.

💡 What We'd Want to See

For an investor, the $180K+ revenue figure warrants a deeper look at the operating history.

We'd ask for:

✔ Trailing 12- and 24-month booking statements

✔ Monthly revenue breakdown

✔ ADR and occupancy

✔ Management fees

✔ Cleaning costs

✔ Utilities

✔ Insurance

✔ Property taxes

✔ Dock and waterfront maintenance

✔ Existing future reservations

✔ Furnishing inventory

✔ Any applicable STR rules and permits

The property has proven it can generate meaningful gross revenue.

The next question is what actually falls to the bottom line.

💸 Financing & Tax Angle

At $1.935M, buyers have several potential financing routes depending on how they plan to use the property.

👉 Explore STR financing options here.

Potential financing structures may include:

✔ Conventional investment financing

✔ DSCR financing

✔ Portfolio lending

✔ Second-home financing, depending on the buyer's intended use and lender requirements

For investors looking specifically at a high-performing STR like this, it can be worth comparing multiple structures rather than assuming a conventional investment loan is automatically the best fit.

👉 See STR financing options and get matched with a lender here.

And for buyers who may be able to benefit from accelerated depreciation, cost segregation is another piece worth discussing with your CPA or tax professional.

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Depending on the property, purchase allocation, tax status, participation requirements, and current tax rules, a cost segregation study may allow qualifying investors to accelerate a meaningful portion of a property's depreciation into earlier years.

That's especially worth exploring on a property at this price point—but the actual benefit will depend heavily on the individual buyer, so we'd run it by a qualified tax professional before underwriting any tax savings.

Waterfront properties can also carry unique insurance, maintenance, and financing considerations, so buyers should investigate those costs carefully when underwriting.

🏡 Need Help Finding Your Own STR?

If you've been thinking about buying a vacation rental but keep getting stuck on what to buy or where to invest, we partner with a team that helps investors identify fully underwritten, data-backed STR opportunities.

Within approximately 48 hours, they'll match you with investment opportunities complete with:

✔ Revenue projections

✔ Market selection

✔ Property recommendations

✔ Design guidance

✔ Listing optimization

✔ Management recommendations

✔ Pricing strategy

👉 See available STR opportunities here.

In order to work with them, they typically require having around $150,000 available for your down payment, furnishing, design, and revenue-driving amenities so you're positioned for success from day one.

To date, they've helped investors acquire:

🏡 375+ properties

💰 $60M+ in rental revenue

📉 $25M+ in estimated tax savings

👉 Get matched with an STR investment opportunity here.

🏡 Looking to Sell Your STR?

Own a high-performing vacation rental?

The Offer Sheet may be interested in:

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📩 Simply reply to this email if you'd like to have a conversation.

🎯 Why This One Stands Out

1. 💰 $180K+ in Proven Annual Revenue

It's already operating as a successful vacation rental producing more than $180,000 annually.

2. 🌊 It's Actual Lake Norman Waterfront

The property's biggest amenity isn't something you can add later. Guests get direct waterfront access on Lake Norman.

3. 🚤 The Dock Is Brand New

A major component of the lake-house experience has already been replaced and upgraded.

4. 🦅 That Crow's Nest

The 360-degree panoramic lookout gives the property a genuinely distinctive feature—and potentially one of the best coffee spots in the house.

5. 🛋️ It's Furnished and Ready to Go

The home is being sold fully furnished, giving a buyer the ability to potentially continue the existing vacation-rental operation from day one.

⚡ Bottom Line

At $1.935M, you're getting a 4,154-square-foot, fully furnished Lake Norman waterfront home generating more than $180K per year as a vacation rental.

But this isn't really a story about squeezing rental revenue out of an ordinary house.

The property has the fundamentals guests actually travel for:

Direct waterfront. A brand-new dock. Multiple lakeside decks. A huge screened porch. Fire pit. Water views from every sleeping area. And a crow's nest with 360-degree views over the lake.

The rental history has already proven there's demand.

And underneath the STR business is a legitimate luxury lake house that can work just as well as a personal retreat.

For a buyer looking for income plus a waterfront property they'd actually want to own, this is one worth digging into.

📲 Express Interest

Ready to learn more or request the rental history?

👉 🏡 Express Interest in this property here.