Wow, Navarre Beach tops the list of the most profitable beach rentals! Check it out, and then call me to find your Navarre Beach investment today!!
(From the Florida Association of Realtors.)
Seven of the top 10 most profitable areas were in the South, including Fla.’s Navarre Beach, Daytona Beach and Port St. Joe.
NEW YORK – Property management company Vacasa assessed the profitability of rental beach houses in various U.S. destinations, based on the towns’ capitalization rate.
The data was used in areas where Vacasa managed at least 50 units. Average taxes, homeowners association fees, utilities, insurance and management fees in each area were removed from average annual rental income to calculate the cap rate.
Seven of the top 10 most profitable areas were in the South, including the Florida cities of Navarre Beach, Daytona Beach and Port St. Joe.
Navarre Beach has a 6.6% cap rate, a median home price of $382,392, and average annual gross rental revenue of $43,202. Daytona Beach has a 6.5% cap rate, a median home price of $247,960, and average annual gross rental revenue of $31,913. Port St. Joe has a 6.1% cap rate, a median home price of $360,721, and average annual gross rental revenue of $39,688.
Source: New York Times (04/28/22) Kolomatsky, Michael
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