VaultSTROriginal data
The STR deal market report.
What 196 currently listed short-term rental properties actually look like when you underwrite them all with one consistent model: median prices, gross yields, cash-on-cash returns — and how many deals genuinely pencil.
Deals underwritten196
Median asking price$524,950
Median gross yield12.3%
Median cash-on-cash0.9%
How many deals actually pencil
| Verdict at baseline | Deals | Share |
|---|---|---|
| Pencils at baseline (6%+ CoC) | 41 | 21% |
| Workable (2–6%) | 47 | 24% |
| Thin (0–2%) | 47 | 24% |
| Doesn't pencil (negative) | 61 | 31% |
The honest headline: most listed properties do not pencil at baseline financing. That is the point of underwriting before you offer — and why the rare deal that clears 6% cash-on-cash deserves a fast, disciplined look.
By state
| State | Deals | Median price | Median est. revenue | Median yield | Median CoC |
|---|---|---|---|---|---|
| California | 40 | $524,950 | $68,921 | 12.3% | 0.9% |
| Florida | 24 | $487,450 | $55,021 | 12.4% | 0.8% |
| Arizona | 22 | $594,900 | $62,955 | 11.0% | 0.5% |
| New York | 12 | $699,450 | $73,500 | 11.0% | -2.5% |
| North Carolina | 12 | $492,000 | $56,375 | 13.0% | 2.9% |
| Texas | 11 | $499,900 | $60,334 | 14.4% | 0.5% |
| Georgia | 10 | $399,000 | $52,469 | 13.7% | 6.1% |
| Tennessee | 8 | $557,000 | $66,029 | 12.6% | 3.5% |
| South Carolina | 6 | $399,950 | $54,283 | 12.3% | 2.8% |
| Oklahoma | 6 | $377,450 | $48,910 | 12.7% | 1.8% |
| Oregon | 5 | $849,000 | $78,000 | 11.2% | 0.5% |
| Colorado | 5 | $825,000 | $86,688 | 10.7% | 1.6% |
| Pennsylvania | 4 | $492,500 | $65,938 | 13.8% | 4.7% |
| Arkansas | 3 | $479,900 | $55,206 | 12.4% | 1.2% |
| Virginia | 3 | $279,900 | $40,150 | 15.2% | 13.3% |
| Idaho | 3 | $799,995 | $60,225 | 10.4% | 0.1% |
States with fewer than three underwritten deals are excluded. Browse individual markets: Joshua Tree, CA · Phoenix, AZ · Blue Ridge, GA · Hudson Valley, NY · Poconos, PA · Big Bear, CA · Lake Arrowhead, CA · St. Petersburg, FL — or the full markets index.
Where does this data come from?
Every property in the VaultSTR Deal Vault — currently listed short-term rentals sourced daily and underwritten with one consistent model. It is deal-level data, not scraped listing averages, which is why negative results appear alongside good ones.
Can I cite these numbers?
Yes — cite "VaultSTR Deal Market Report" with a link to this page. The report recomputes daily as deals enter and leave the vault, so quote the access date alongside the figure.
Why is median cash-on-cash so low?
Because we underwrite every listed property, not a curated winners list, at conservative baseline assumptions: 20% down, market-rate DSCR debt, full operating costs and reserves. Better financing, self-management, or off-market pricing all improve on the baseline.