VaultSTROriginal data
The STR deal market report.
What 310 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 underwritten310
Median asking price$522,450
Median gross yield12.6%
Median cash-on-cash2.9%
How many deals actually pencil
| Verdict at baseline | Deals | Share |
|---|---|---|
| Pencils at baseline (6%+ CoC) | 89 | 29% |
| Workable (2–6%) | 94 | 30% |
| Thin (0–2%) | 66 | 21% |
| Doesn't pencil (negative) | 61 | 20% |
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 | 57 | $519,999 | $68,656 | 12.6% | 2.6% |
| Florida | 35 | $479,900 | $55,188 | 12.9% | 3.0% |
| Arizona | 30 | $607,450 | $64,870 | 11.1% | 1.4% |
| North Carolina | 21 | $595,000 | $68,985 | 12.8% | 2.8% |
| Tennessee | 20 | $570,000 | $67,616 | 12.1% | 4.5% |
| Texas | 20 | $497,450 | $68,492 | 14.4% | 3.6% |
| Georgia | 16 | $424,450 | $62,000 | 13.2% | 4.9% |
| New York | 15 | $699,000 | $74,898 | 12.8% | 0.5% |
| Oklahoma | 12 | $399,839 | $52,159 | 13.0% | 4.0% |
| Pennsylvania | 10 | $437,500 | $63,875 | 15.9% | 8.6% |
| Colorado | 8 | $674,500 | $66,394 | 11.8% | 4.8% |
| Oregon | 7 | $849,000 | $90,830 | 11.8% | 2.6% |
| Arkansas | 6 | $439,900 | $52,371 | 12.5% | 3.5% |
| South Carolina | 6 | $399,950 | $54,283 | 12.3% | 2.8% |
| Ohio | 4 | $483,735 | $76,650 | 13.8% | 6.7% |
| Michigan | 4 | $467,450 | $62,014 | 12.8% | 3.4% |
| Virginia | 4 | $339,950 | $51,830 | 14.7% | 11.7% |
| Washington | 3 | $885,000 | $109,500 | 11.7% | 1.1% |
| New Hampshire | 3 | $475,000 | $58,218 | 12.3% | 1.5% |
| Utah | 3 | $650,000 | $67,000 | 10.7% | 0.7% |
| Idaho | 3 | $799,995 | $60,225 | 10.4% | 0.1% |
States with fewer than three underwritten deals are excluded. Browse individual markets: Blue Ridge, GA · Joshua Tree, CA · Poconos, PA · Phoenix, AZ · Hochatown, OK · Smoky Mountains, TN · Big Bear, CA · Gatlinburg, TN — 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.