Two incredible off-market STR properties, grossing $130k and $77k

Proven rental history, many repeat customers & stellar ratings

Author

Alex Veytsman
August 13, 2023

The Offer Sheet readers —

This Sunday, we’re excited to share two incredible off-market STR deals with our subscribers, both located in the Poconos. They are two from a very high grossing portfolio of five that the owners, Jessica and Scott have decided to bring to market (just this newsletter for now) as they look to re-invest some of their cash into other real estate.

We’re honored to share these with you, not only because they are amazing deals - with proven rental history ($130k in 2022 revenue for one and $77k for the other), part of an established brand (Poconoland.com), many repeat customers, stellar reviews and ratings on Airbnb, in a community with stabilized STR laws - but also because the owners shared their full backstory in their own words lower down below, which shows just how much love and care they’ve invested in every detail of each property.

If you would like to make offers, ask questions, arrange appointments on one or both of these, please contact [email protected]. OK, on to the reveal!

113 Aaron Drive, Pocono Lake, PA 18347

Off-market asking price: $515,000

2022 revenue: $130,000

Contact Info: [email protected]

3 BR* / 2.5 BATH

2500 sq ft

*NOTE: The house technically has 5 real bedrooms, but we rent it as a 3-bedroom to comply with the local township rental ordinance. If the septic system is upgraded with capacity for 2 extra bedrooms, the house could be rented as a 5 bedroom.

STUNNING, SPACIOUS, STYLISH!!!

A rarely available fairytale Cedar Chalet in desirable, STR-friendly Locust Lake Village! The house is a turnkey STR property with $130k annual gross in 2022.

  • Fully updated in 2019, the house features 5 bedrooms and 2.5 baths, including an owner’s suite with en suite half bath on the top floor.

  • House was professionally designed and optimized as a vacation rental property, and is featured in Airbnb's Design category. Furnishings and decor available for additional consideration.

  • Three floors and two living/TV areas, providing families with plenty of room to spread out.

  • The main living area features original cedar paneling, wood burning stove, and a lofted library area with carved balcony railing for an alpine chalet feeling.

  • Fully-updated kitchen with new granite countertops, deep stainless sink & new stainless steel appliances, modern open shelving, opens to a generous living & dining area and a ‘Wall of Windows’ looking out onto the deck and mature trees. It’s like living in a treehouse!

  • The main floor has 3 additional bedrooms and a new full bath.

  • The ground floor offers a 2nd living room and game area, a large bedroom and another full bathroom, plus a generous entryway / mudroom area with a large closet to store all your seasonal toys.

  • A custom walk-in owners’ closet to make rental management a breeze.

  • Fujitsu HVAC mini-split units in every room provide energy efficient cooling and heating, plus they save 50% over the electric baseboard heating costs during the winter months.

  • Oversized .75 acre lot is surrounded by woods on 2 sides, providing privacy for the 6-person hot tub and landscaped fire pit. Located on a cul-de-sac with only 1 other house

  • The property is located walking distance to Pines & East lakes, the Cottontail boat ramp and the tennis courts.

  • COMMUNITY AMENITIES are included for your rental guests (with a required annual rental permit):

    • 3 swimmable lakes with sandy beaches (non-motored watercraft)

    • 3 playgrounds

    • Tennis courts

    • Boat ramps with storage for non-motored boats

    • Fully-stocked fishing lakes

    • Archery range

    • Basketball court

    • Ski hill with rope toe (weather permitting)

    • Sledding hill

    • Ice skating & Ice fishing

    • Community center with extensive recreational programming, including bbqs, crafts, bingo, cards, movie nights, educational series, etc.

    • ATVs and UTVs permitted

  • Property currently has 2023 Tobyhanna Township and Locust Lake Village STR permits. Buyer will need to re-apply for new permits in their name, but Seller can provide all necessary application materials.

Contact [email protected] for offers or questions.

313 Monarch Way, Pocono Lake, PA 18347

Off-market asking price: $325,000

2022 revenue: $77,000

3 BR / 1.5 BATH

1350 sq ft 

CHARMING! BRIGHT & AIRY! CUSTOM BUNK ROOM!

A classic chalet-style lake house, steps from Pines Lake in the heart of STR-friendly Locust Lake Village. The house is a turnkey STR property with $77K annual gross in 2022. Very popular, with a large percentage of repeat business.

  • Fully updated in 2020, the house features 3 bedrooms and 1.5 baths, including an en suite primary bedroom with half bath on the ground floor and a custom bunk room with 4 built-in twin beds on the upper floor.

  • House was professionally designed and optimized as a vacation rental property, and is featured in Airbnb's Design category. Furnishings and decor available for additional consideration.

  • Wall of windows in the front of the house and 20’ peaked ceiling gives a sense of spaciousness and ensures that the house is bright and welcoming all year long.

  • The main living area features a wood burning stove, living & dining areas and an open kitchen, plus a reading nook/workspace (aka ‘the library’) and laundry area.

  • Updated kitchen with new granite countertops, deep stainless sink & stainless steel appliances, modern open shelving.

  • The main floor has 2 additional bedrooms and a new full bath.

  • The upper floor has been set up as a ‘kids zone’, with 4 custom built-in twin beds and a TV/game lounge area.

  • Screened porch extends the living area and provides storage for seasonal toys.

  • Huge wrap-around front deck with Adirondack chairs, grilling area, and built-in dining area.

  • New hot tub and deck added in 2023. This addition has increased occupancy and nightly rate as soon as it went into service in April 2023.

  • Fujitsu HVAC mini-split unit in the living room provides energy efficient cooling and heating. Electric baseboard heating in all rooms have MYSA thermostats for remote wifi control of heating.

  • Wooded lot with landscaped firepit and kids pirate-themed treehouse.

  • The property is located ½ block to Pines Lakes and the Cottontail boat ramp. Also easily within walking distance of East Lake and the tennis courts & basketball court and 2 playgrounds.

  • COMMUNITY AMENITIES are included for your rental guests (with a required annual rental permit):

    • 3 swimmable lakes with sandy beaches (non-motored watercraft)

    • 3 playgrounds

    • Tennis courts

    • Boat ramps with storage for non-motored boats

    • Fully-stocked fishing lakes

    • Archery range

    • Basketball court

    • Ski hill with rope toe (weather permitting)

    • Sledding hill

    • Ice skating & Ice fishing

    • Community center with extensive recreational programming, including bbqs, crafts, bingo, cards, movie nights, educational series, etc.

    • ATVs and UTVs permitted

  • Property currently has 2023 Tobyhanna Township and Locust Lake Village STR permits. Buyer will need to re-apply for new permits in their name, but Seller can provide all necessary application materials.

Contact [email protected] for offers or questions.

The backstory:

CONTACT for more info: [email protected]

In 2018, we decided to invest in vacation rental properties within a few hours of our home in Brooklyn, so we started by looking at the Hudson Valley and the Catskills… but we very quickly discovered that the home prices & taxes were high but the Airbnb rates and occupancy were inconsistent. High in the summer and around holidays, but virtually non-existent at other times of the year.

Exploring only 30 miles west in Pennsylvania, we found that homes were listed at roughly 50% (!) of the price of upstate NY homes (with significantly lower taxes), but nightly STR rates were fairly consistent with NY prices. Plus the potential for year-round occupancy is much higher. So we started buying and we now have 5 properties that collectively grossed $572,000 in 2022.

Our company, Poconoland Cabins, is a collection of 5 rental houses in the Pocono Mountains in Northeast Pennsylvania. Starting in 2018, we bought 5 dilapidated vacation properties and lovingly renovated them with modern comforts, curated design & kid-approved amenities so that “everyone can share our 'mountain cabin getaway' fantasy for a few days at a time.” We curated each house to be more than just a clean, comfortable rental property – there are plenty of those.

Our cabins set themselves apart because we essentially build & stock each cabin with all the things we’d want in a family vacation home – curated new & vintage furniture, textiles, board and video games, kitchens stocked with chef-kitchen level gear… everything short of family photos – and then we hand the keys over to renters. It’s a model that has been tremendously successful for us! The Poconoland brand is now an upscale product that stands out in a very busy rental market. And given that the Poconos is within a 6 hour drive of 70% of the population of the US, we have a huge, constant audience of vacationers that are willing to pay a premium for the ‘personalized cabin getaway’ that we offer!

Our unique brand of modern cabin experience and design is recognized over & over in guest reviews and significant repeat business – our 700+ 5 star reviews speak for themselves. We sought to capture the attention and business of upscale families and groups from the urban centers along the Northeast corridor, curating our cabins to be a cut above the competition in our lucrative but way-underserved market.

The Poconos vacation rental inventory lags far behind more modern, sophisticated offerings in the upstate NY and NJ shore markets, but it offers something those vacation rental markets do not – the Poconos is truly a 4-season destination. There is a steady stream of rental demand all year long, with nightly rates and occupancy remaining strong through other regions’ off-seasons.

The Poconos remains one of the best, most lucrative STR markets in the country. After a few years of uncertainty, local STR regulations are finally in place as of January 2023, and they ensure that STRs will remain legal in Tobyhanna township. Locust Lake Village, the HOA where these two featured properties are located, has also put an STR permitting process in place to ensure that existing STRs will continue to be welcomed.

We have a growing business of returning guests, and we have never had a vacant weekend at any of our Poconoland homes since each was put into service. We rarely make exceptions to our 3-night minimum, and this has kept revenue strong.

We are at a crossroads with 2 of our strongest properties, Heidi’s Chalet and Monarch Cottage. While both houses are performing well, we have an opportunity to invest in mid-term rentals in Wilmington, DE for traveling nurses. We’re really excited to start a new business and diversify our portfolio to include mid-term rentals along with our existing short term business. It will be hard to say goodbye to our first two Pocono properties, but we’re excited to take the equity we’ve built and grow an exciting new business in Delaware!