Episode Transcript
[00:00:00] Speaker A: Brought to you by the short term shop.
It's short term shopping.
All right. Short term shopping.
We're going to Pennsylvania. Let's do this thing, man. Tristan. Brand new dad. I love it. Dude. Just had a second kid. How exciting.
[00:00:20] Speaker B: That's what it's all about, right?
[00:00:22] Speaker A: 100.
Yeah, yeah, yeah, yeah. It literally is all that matters, you know?
So great. Good for you. Baby's doing well and it's wonderful.
So let's. Let's take a look at some houses, man, if you don't mind or. Oh, actually, hold on. Let me hear a little bit about you. You're obviously a real estate agent, but tell us a little bit about your market and about yourself and take it from there.
[00:00:47] Speaker B: Awesome. Yeah, yeah. So I am a Poconos. I'm a real estate agent in the Pocono mountains here in Pennsylvania.
Really big drive in market.
You know, a lot of heavy, heavily populated areas nearby. New York City, Philadelphia, New Jersey. A lot of people driving in legacy market. You know, people have been coming here for a hundred years and there's a lot of demand right now, so.
[00:01:13] Speaker A: All right, cool.
And you're with the short term shop?
[00:01:18] Speaker B: Yes, yes, I am.
[00:01:19] Speaker A: Gotta plug that baby. Short term shopping after all, but yeah. All right, cool, man. Well, let's dive into some of these houses already. The first one you showed me already looked pretty cool. But if you don't mind sharing screen and let's. Let's rip.
[00:01:32] Speaker B: Absolutely. All right.
All right. So, yeah, so what's nice about the Poconos is that it's really large and each area in it is basically its own submarket. A lot of different attractions, you know, six ski mountains and a lot of different proximity to different areas. This home right here, 317 Robinwood Terrace. Located in Penn State's community in East Stroudsburg. Very popular short term rental community here.
You know, you're not too far away from east strasburg downtown, about 10, 15 minutes away from Campbellback ski mountain.
And really nice curb appeal here. What's nice about this home is like it really pops out, really large windows, really good natural light permitted as a four bedroom home. So basically works is there's three bedrooms up here. The whole downstairs is a bedroom.
There is room. It's on sewer, so there's no septic here. Usually there's. There's a couple areas in the Poconos that are on sewer. It makes it easier to add bedrooms if you wanted to. What I see a lot at a times is that again and you could buy this Home. And you could add the amenities in the backyard, like the hot tub, barrel, sauna, fire pit. That's really popular here. The home backs up to the woods here. If I can go back a little more.
So, yeah, it backs up. There's no one behind you, so you get really nice, you know, views of the forest.
My recommendation that I see if you really want to maximize revenue here is. And again, it couldn't be a turnkey property. Absolutely. But if you wanted to turn this loft into a bedroom, I see that a lot in these areas, especially that if the loft's big enough, you convert this to a five bedroom home. What's nice about that is five bedroom homes max for the community. And then there's a lot of like, you know, five bedrooms, 12 people occupancy.
And, you know, it just. It allows for. Not only to sleep more people, but, you know, really take the advantages of being able to host large groups.
[00:03:41] Speaker A: So when was this built? It's.
This thing could either be brand new or from 1986. I can't tell.
[00:03:48] Speaker B: Yeah, Yeah, I can pull the
[00:03:53] Speaker A: photos there on the. I do this way too often. Go back to listing on the top left. Back to listing.
And it should say right there, scroll down. 85. I was right. Look at that. I almost nailed it. 85.
[00:04:03] Speaker B: Yeah. So a lot of these homes in the Poconos are older, which is very normal. But with that, you can just. Usually people just renovate it and then kind of make it look brand new.
[00:04:13] Speaker A: Yeah, because this looks very modern. Like the kitchen's been redone for sure. Definitely.
I would say probably original floors, but the paint scheme is great. I like the green pops with the couch in the wall, some of the walls, not all of the walls above the kitchen cabinets. I think it's tastefully designed as is. I wouldn't change anything. I just let it rip like this. What's the gross? I mean, you know, I'm not. We're not here to talk numbers in any way, shape or form on short term shopping, but, you know, ballpark gross number on this thing.
[00:04:47] Speaker B: Yeah. So it was bought about a year ago, and the intention was for the owner to basically put all the backyard amenities in the home. And that's as here in the Poconos as you put more backyard amenities.
You know, it obviously designed well, managed well, good flow. It has potential to do better.
This person, the. The owner, the current owner, decided to kind of use it as a second home to a degr.
Yeah. So he used it for a second home to some degree. Didn't he rented it out. Some wasn't hosted very well. Like if you go in there, Airbnb and Verbo really bad reviews, like average ratings like a two out of five. So, you know, Airbnb is not for everybody. Completely understand that is the hospitality business. But before that, that owner was doing about 75,000, 80,000 gross revenue.
It hasn't even touched the surface of what the home's capable of doing.
[00:05:48] Speaker A: Okay, I noticed the baseboards and the mini splits. Is that normal?
[00:05:53] Speaker B: Completely normal, yeah. So mini splits again. A lot of these homes were built a while ago, so. And you know, instead of doing central ac, doing the duct work, you know, ripping down walls or opening walls up, mini splits is very common as a alternative. And then, yeah, baseboard. He is extremely common here in the Poconos.
[00:06:14] Speaker A: Okay, cool. All right. Would you say this is a deal?
[00:06:18] Speaker B: Absolutely.
[00:06:19] Speaker A: Price.
[00:06:21] Speaker B: Price could be a little lower. What I not. It's not really too high again, it's really just going with the market right now. Seeing, especially in this specific community, these larger homes. Seeing a lot go over ask, you know.
Yeah. Multiple offers, highs and best. Just had. Just had a different one. It was a 5 bedroom bi level and it went 50k over ask. Had 10 offers, so.
[00:06:47] Speaker A: Kidding.
[00:06:47] Speaker B: Yeah, this.
[00:06:48] Speaker A: This.
[00:06:48] Speaker B: Yeah. There's a lot of people looking here right now and it's just because, you know, there's. There's a lot of good demand and a lot of people coming here.
[00:06:55] Speaker A: Is a lot of good particular neighborhood or is that what you're saying?
[00:06:58] Speaker B: This particular neighborhood for these larger homes, like these four or five bedrooms that have really good curb appeal, have good space in the backyard.
Yeah, a lot, A lot of people are looking.
[00:07:09] Speaker A: Love it. Okay, cool. All right, let's go on to this 37 frost here. Cool.
[00:07:14] Speaker B: So that was so East Strasbourg, where we are just now 4th317 Robin Wood Terrace, kind of the east side of the Poconos. Now we're moving over to the west side of the Poconos.
This, this, this is Tal Mencing trails in Albrightsville. About. I mean, it's probably. I mean, a lot of people know Lake Harmony, so it's about 15 minutes south of Lake Harmony, right off the highway. So you get a lot of a. You get a lot of guests from the Philadelphia area coming to this community located in between two ski mountains. So you get really nice winter demand as well as summer demand. Have 190 acre lake here. This is a five bedroom, three bath. This area septic. The. The. The bedroom size or the Septic is a five bedroom. So that is important. That's something to keep in mind about because if this home had a three bedroom septic, you can only rent it as a three bedroom. So this one's a five bedroom septic built in 2022. So newer build here has really nice curb appeal. These chalets are really popular here. They really show well.
Yeah, newer homes on mini splits.
You have propane here for, you know, the, the fireplace, but then also the mini splits.
Cooling septic is a lot of the septic tanks here are mound septics usually either in the front or the back of the home. This one's in the back of the home. If I can show it right here. So in this picture right here, if you can see my cursor, that's the septic tank. You just can't see it from that high. But you still have room for the amenities. Like I again, this one has a hot tub. I recommend a barrel, sauna, fire pit. Again, not like costly things in the sense of amenities, but really move the needle regarding, you know, potential revenue because people are coming from the city, they want to get outside and they want to, they just want to be outside into the forest. So kind of leaning into that. Wellness retreat is always preferred.
[00:09:15] Speaker A: Why is this one 200 grand more than the other one?
[00:09:18] Speaker B: Yeah, yeah, yeah, absolutely. So like the Pocono, like I said, the Poconos is really big and each submarket might as well be its own market. So like a five bedroom home here in town trails. It's, you know, right around this price could be slightly lower. A five bedroom home in Lake Harmony, you know, might be hitting 800, 900,000. So it's like, it's just the different markets.
That's why it's like it's, you know, comparing each like one submarket to another submarket usually doesn't make sense just because it's all about that specific submarket. But it is fine to compare in the sense it's like, okay, which one can do better as a short term rental, but then also which one's the better deal?
[00:10:04] Speaker A: How long has this thing been listed? If you don't mind going back to the.
[00:10:07] Speaker B: Yep, yeah. This one, this one, they priced it, I think they listed it right around 800. So it's been sitting for a little bit here. They're getting back within range.
Think it's been listed for about four months.
Let's see.
Yeah, so they're just doing very small price cuts every three to four weeks.
It was listed on May 21, so again, 800,000 for this home, for a five bedroom is. Is high.
You know, if it was like a six bedroom, completely understand. But it's starting to get back within range, so.
[00:10:45] Speaker A: So yeah, okay, I like that. I. I like that price history. We didn't see what they paid for it or how long they've owned it, but it is getting to the point, I think, where you've got somebody that's ready to. Ready to sell.
[00:11:00] Speaker B: Yeah, yeah, yeah. 100. And again, it's.
It's getting within range. I think value wise, it's. It's definitely there. But yeah, how the reason it's been sitting is it's usually. It's not usually the home. It's usually the price or it's either the price or the home. And the home's great. But yeah, the price was a little too high to start out, even as a one of a newer build home. But yeah, it's come. It's starting to come down within range.
[00:11:27] Speaker A: Yeah, it's pretty well ready to go. Could use a few decorating items, but in general, pretty good shape. Okay, cool.
[00:11:35] Speaker B: Yeah, awesome.
[00:11:36] Speaker A: 37 frost. Not a. Not a bad one there. What do we got here? 623.
Yep.
[00:11:42] Speaker B: Yeah. So Albrightsville is like the two main communities is Talmuding Trails, where we just looked at Tomilton Trails on the left side of Albrightsville, and then Indian Mountain Lakes is on the right side of Albrightsville, where this is where this home is.
3 bedroom, 2 baths. Already operating as a short term rental.
Now, usually three bedroom, two bathroom homes have a hard time performing in the market, but it's you. It depends on the area. There's some areas statistically where three bedroom homes can do better.
Like. So this one in the Mountain Lakes is an area. The Penn State's one that we just looked at is an area that can make sense for three bedrooms. This home is already operating as a short term rental. 2024, it did 78,000 gross revenue. And then 2025, it did 72,000 gross revenue.
[00:12:36] Speaker A: That's very attractive to somebody who's new to the area. That's a pretty good number, really.
[00:12:43] Speaker B: Yeah. So. And it has room to do even better with like a couple, you know, tweaks here and there. But other than that, I mean, not too much to do with this one. It does have central air, which is. Might as well be a premium amenity here in the Poconos. Not a lot of homes have it
[00:12:58] Speaker A: so attractive to me. I like that. But again, it's Because I'm. I live in Florida.
The concept of no central areas is. Is mind blowing, you know?
[00:13:09] Speaker B: Yeah. 100. Yeah. And you'd be surprised how many homes here that do not have any cooling at all. And they're just renting as short term rentals. But yeah, this home has, you know, good design, a lot of good natural light.
[00:13:21] Speaker A: Furniture is great.
[00:13:22] Speaker B: Yeah. So, yeah, good design here. It's spaced really well. It's a good size three bedroom, hitting over 2, 000 square feet. Had like a little game area downstairs for the kids, which should be coming up here. Here we go. Yeah, so like, okay, they got the.
[00:13:38] Speaker A: The grass wall with the neon. The whole thing.
[00:13:42] Speaker B: Yeah, yeah. And that's the thing. It's like you can. You can do tweaks to this home if you want, but if not, it's also, you could keep renting as is.
You know, it's. And again, the. The prior revenue does help in the sense that, okay, like, there is potential here, but prior revenue is not guaranteed. It does come down to the management design and amenities.
[00:14:04] Speaker A: But yeah, this, this, this seller, I mean, the owner, current owner, has definitely set this thing up for str, if you will.
Yeah, it's done a nice job too.
[00:14:16] Speaker B: Yeah. In this area and then any mountain lakes, the parcels are bigger. So, you know, you get like. The home's pretty, like. So in this sense, the septic is in the front, which is kind of nice because it kind of opens up all this space and then the roads right here. So you have like a lot of privacy in between the neighbo.
You know, it's kind of covered in trees to where you have your own privacy. You're not really worrying about anyone.
[00:14:43] Speaker A: This is cool. I like the setting there. That's really cool.
When you say three bedrooms are, you know, not that ideal. What. What do you mean by that?
[00:14:52] Speaker B: Yeah, so in this market as a Poconos as a whole, three bedroom, two bath is the most popular bedroom, bathroom.
[00:14:59] Speaker A: Oh, they're most common.
[00:15:01] Speaker B: Yeah.
[00:15:01] Speaker A: Yeah.
[00:15:01] Speaker B: It's kind of like you're in the middle, so, you know, it's like the two bedrooms and below are, you know, for the couple getaways.
You know, these homes that are anywhere between 600 square feet to 1100 square feet. Then on the other side, it's, you know, four bedrooms. It's like larger families. It's either one large family or you're hosting multiple families. The three bedroom can get in the middle in the sense it's like, okay, it's like the target market. You Know, like kind of small families. But like I said, it does depend on the area. It's not like I'm saying three bedroom, two baths will never work anywhere in this market. This is a good example as it can work. It just depends on the area statistically of what.
What can. Like where can it work and where can it not?
[00:15:45] Speaker A: I wonder what they paid. Can you go back to listing and go to.
[00:15:52] Speaker B: Yeah.
[00:15:53] Speaker A: Way down to the price history and see what they paid for? Sold right there. 22 294. Oh, they got a lot of wiggle room.
[00:16:00] Speaker B: Yeah, yeah, yeah. So. And that's. That's the thing that we're seeing here in the market is that like, this is an uncommon to see like a jump from here to here.
Also, probably leveraging the. The prior history, I usually see that, you know, prior revenue can tend to increase the. The price just given it is Turnkey. But yeah, 20, 22, 2021 here in the Poconos was a little different market. So, yeah, seeing an increase, especially as prices are going up. Totally normal.
[00:16:31] Speaker A: Okay. All right, cool, cool.
[00:16:35] Speaker B: All right.
And so the next one here, lakefront property in Lake Harmony. So we do have some bigger homes here that also sit on the Lakers. Nine bedroom.
Sorry.
[00:16:51] Speaker A: I'm sorry. Are the neighbors there in the picture? Are those also rentals?
[00:16:57] Speaker B: They. I believe this one is. So, yeah, the parcels sit a little closer to each other and that. That's common in Lake Harmony.
[00:17:05] Speaker A: I mean, I didn't. I didn't. I didn't mean, like, I need you to know if. Exactly. If that. You know what I mean? Like, in general, with this setting that I'm looking at right now, are those most likely to be rentals or not?
[00:17:20] Speaker B: Yeah, yeah, yeah. So Lake Harmony. Lakefront is. It's split. So it's half lifestyle. You know, people live here full time. The other half is rentals. It's pretty even, but yeah.
[00:17:33] Speaker A: Okay.
[00:17:34] Speaker B: Yeah. It's not like every single lakefront property in Lake Harmony is. Is a rental.
[00:17:38] Speaker A: I got you. Cool, cool.
2.3.
This is a monster.
[00:17:44] Speaker B: Yeah. 2.3 homes have been on the market for a little bit, mainly because of price. So I think they started right around 3 million. They're coming down a good bit. And, you know, there's definitely room for. For more movement there.
[00:17:59] Speaker A: Nine bedrooms.
[00:18:01] Speaker B: Nine bedrooms. Yep. Nine bedrooms can sleep over 20 people.
So, yeah, again, it's like as the bedroom count goes up, like any market, similar, you know, same thing for the Poconos. As bedroom count comes up, you know, depending on location, potential Revenue increases as well. And then being on a lake here is. Is essentially being oceanfront in like a beach market.
[00:18:26] Speaker A: Is when you say sleeps 20, is that it permitted or is that you just. Is it wild west? You can do what you want. Yeah, yeah.
[00:18:32] Speaker B: So this home sleep would sleep 22. So two per bedroom plus four.
[00:18:37] Speaker A: Okay.
[00:18:38] Speaker B: And that's just a township occupancy, but yeah. So again, really nice natural light. Has the chalet look.
You know, natural light with the big windows is really. Is received well here. So believe the home was built 10 years ago, so not. Not. And then for. For this area, for the Poconos, that's kind of considered newer.
[00:19:02] Speaker A: Is the price tag, you know, getting closer or still too high?
[00:19:09] Speaker B: Probably slightly. Like, currently, as is probably slightly too high. But it's. It's very close. It's close to being in range. I mean, there's other homes on this lake that are smaller and they're in like the three millions. So as far as. If we're looking at it from a value perspective, like, again, I'm not an appraiser by any means, but I don't see any issues with this, you know, given the value. And then if we're talking about it from a short term rental perspective.
Yeah, no, we're really close on value here.
[00:19:46] Speaker A: You can't beat the lot.
[00:19:48] Speaker B: Can't do it. Can't beat it. Sits right at the end of lake Harmony. Lake Harmony is probably the most popular and well known area in the Poconos. Like, when people think Poconos, they're thinking Lake Harmony. Really nice. You know, kind of like you're driving around, you kind of get a good, like, hey, we're on vacation. Has like a nice little downtown.
[00:20:11] Speaker A: Could. Could be jazzed up for sure. It's definitely a little on the boring side for me, but again, you're buying a lot, you know?
[00:20:20] Speaker B: Yeah, 100. Yeah. And that's. And that's very common with these. These homes. It's. It's like if you look at these chalets, lakefront or not lakefront, it seems like they're all kind of built around the same time and they don't have a lot of good design.
So that's what's nice. It's like the bar is not set high in the sense that, you know, everyone has all the bells and whistles. Everyone has really good professional design or really good, like, interior professional design.
So it's, you know, a couple tweaks here and, you know, it has really good potential.
[00:20:53] Speaker A: Okay, cool. I like it.
Nice 32 awesome South Lake Drive.
[00:21:00] Speaker B: There it is, heading over to Emerald Lakes. Central location.
You know, I mean, Emerald Lakes, this is, this part is the estates of Emerald Lakes. So Emerald Lakes is essentially, you know, very central location. You're right near Mount Airy Casino. Camelback, Camelback Mountain, which is the largest ski mountain in the Poconos. The only ski in, ski out ski mountain. Not too far away from Pocono Raceway, not too far from Kalahari. But in the estates of Emerald Lakes, which is, you know, you still get access to all the same amenities like the indoor pool. There's only a couple communities in the Poconos that has an indoor pool. The estates of Emerald Lakes is, gives a more secluded vibe. So it's like the parcels are a little bigger, you get a little more privacy.
Something worth noting about this home. And this is very important for any home in the Poconos that is on septic. It's important to know the septic tank size and what it's permitted for. This is a five bedroom home, but it's permitted for four bedroom. Now it doesn't. It wouldn't affect potential revenue too much, but it does. So it's just something to keep in mind there. And talking a little more about septic tanks. So, and this is newer, probably within the last 10 years or so given each township. And it's kind of universal across the Poconos is, you know, they kind of grade the septic tank size for structure.
Like you need a certain size. So again, typically a thousand gallon tanks, a three bedroom, 1250 gallon tank is a four bedroom. And you know, 1500 septic tank plus is for the larger properties now it is 100 dependent on the township. So and there are. And it's, it's asking the questions like, okay, is this a four bedroom septic? Can I upgrade it to a five bedroom septic? It's involved in the sense, it's like you have to get a septic company to come out to see like, oh, how old the tank is. If it's a, you know, over 30 years. And it's like, hey, you got to replace the whole tank. And the tank could cost anywhere between 50,000 to 55,000. If it's a newer tank, it's like, okay, you can, you know, they could add like an additional tank to it to where it's almost essentially like a dosage tank to where it's like, okay, that, that costs a little more. But then it has to go through permitting. So you have to go through the township for sewage enforcement. Officer, they have to come out, kind of check it all out. So I personally would never, you know, depend on a deal to upgrade the septic just because there's a lot of unknowns with the township. So it's like for example for this is a five bedroom.
If it's going to have a four bedroom septic, the numbers need to make sense for you at four bedroom and then. Okay. It's like if there's upside to where you can get to the five room, that's good. But I essentially wouldn't make it the, the make or break on the deal.
But the home as is looks great.
[00:24:06] Speaker A: Yeah. This one is probably the most attractive thus far as far as design.
[00:24:15] Speaker B: Yeah. 100. A lot of upside.
You know, the inside.
[00:24:19] Speaker A: Sorry.
[00:24:20] Speaker B: Oh, sorry.
[00:24:21] Speaker A: Sorry. Price tag looks good too. I mean where's, where's the price tag in, in comparison to the neighbor to the area, like location wise?
[00:24:30] Speaker B: Yeah. So in, in the estates of Emerald Lakes where this home is located, price looks good. You know, I mean it could come down slightly, but other than that, I mean the, you know, the price tag looks good. This home was listed for sale not too long ago.
It's been on the market for nine days. So yeah, I think it's priced very fairly for the potential of what it can do. Again, there's always upside to where you can add more to it. But other than that, again, it has a really nice vibe in the backyard. Again, woodsy. The woodsy vibe is well received here.
Have some nice lights with the hot tub.
And then it's really private. So there's really no one around you.
[00:25:12] Speaker A: I'm, I'm a little. Go back to that. Up just a little bit. Right there.
One down
[00:25:20] Speaker B: here.
[00:25:20] Speaker A: Yeah, right there. I, I think this was a garage. Maybe on the front it's a little partic. It's a little peculiar looking. And then also those doors there, that may be a converted garage. I might look into that. Not that I, you know, necessarily care, but it's catching my eye. You see how that garage.
[00:25:37] Speaker B: Yeah.
[00:25:37] Speaker A: Garage door.
[00:25:38] Speaker B: Yep. 100. And again, anything along those lines would have to be no to end the seller's disclosure. And then it's important that you know if they're doing that work, that it is permitted.
[00:25:51] Speaker A: And it's got the solar panels as well.
[00:25:53] Speaker B: Yeah, yeah, yeah. So again, same thing with solar panels. It's like, okay, are they paid off? Is there a loan on it?
These are good questions to ask because again, the house looks awesome. And it's like, oh yeah, we have these Solar panels.
And the loan's like 30,000 and it's tran. It's going to transfer to you. It's like, okay, like, this is just more information to ask. You know, you always negotiate to say, hey, can the seller pay this off before? And things like that. So when you see solar panels, it's not like, okay, we have to stay away. But it's like, hey, tell me more about that.
[00:26:22] Speaker A: Yeah, yeah, I bought one recently. That was my first experience with solar panels, and I didn't even really look into it. I knew I wanted the house.
This was the house. There was no stopping me on this thing. And it had solar panels, and I didn't even ask questions. I didn't even care. But they. What happened was the seller paid it off in the transaction.
So. No. Yeah, that was a garage on the right there.
[00:26:48] Speaker B: 100.
[00:26:49] Speaker A: Yeah. And. And now I have these solar panels that I don't even know how they work. But they're paid off.
[00:26:56] Speaker B: That's what matters, right?
But yeah, really good spacing in here.
Design looks pretty clean on the inside. You know, kind of leaning into, like, more modern look.
[00:27:09] Speaker A: Yeah.
All right, this could be an option here if you're not turned off by the converted garage, which.
[00:27:18] Speaker B: Very common here.
[00:27:19] Speaker A: Hey, very common.
[00:27:20] Speaker B: Very common to convert a garage into livable space.
[00:27:23] Speaker A: Is the solar common?
[00:27:25] Speaker B: Solar is common too. Just. It's important just to ask the questions. It's like, hey, is it paid off? What's the loan? Are they willing to pay it off at close? Things like that. Because the last thing you want to do is, okay, we get to the closing table and they're like, hey, by the way, forty thousand dollar loan or whatever it is that's yours now. It's like, okay, it's like just again, more. So this is stuff to ask, like, before, like putting an offer or, you know, during the due diligence period.
So when you see the solar panels, there's just something to keep in mind.
[00:27:55] Speaker A: Yeah, we don't see those hardly ever where. Where I live.
They're not unheard of, but they're not common.
[00:28:02] Speaker B: Yeah, 100%.
Awesome. All right, going to the next one. And Toby, Hana, a little more north in the Poconos. I mean, you're probably 25 minutes away or 20 minutes away from Camelback. They have really nice summers here. So this is in a Pocono country place.
[00:28:20] Speaker A: The.
[00:28:21] Speaker B: The bedroom count's interesting at a five bedroom, two bath. Usually it's like here, like, it. It's not too much of an issue from a Functionality standpoint. Personally, me, I always like to see the third bathroom. But this home was just listed yesterday.
Attractive price. And the prior revenue is 95, 000.
So again, even showing, it's like.
And that's noted here, have a copy of the revenue. But it's even showing, it's like, okay, even with the sec, only two bathroom, from a functionality standpoint, for this large group, it's not holding up revenue.
Again, curb appeal could be a little better. But in the sense, it's like, you know, the interior is really nice. It's, you know, nicely updated. Always could use more amenities. But yeah, this one, you know, is a little price. Price friendlier.
[00:29:16] Speaker A: Yeah, this one's 200 grand cheaper than anything we've seen so far.
[00:29:19] Speaker B: Is that location completely location. As you go this good. Rule of thumb, as you go more north in the Poconos, again like right, like right here, this is Toby Hana.
You get into Toby Hana, Goldsboro, prices start to come down more. So you kind of in the sense get more bang for your buck. But at the same time, as you get a little further away from a ski mountain, your winters may be a little lighter compared to other areas. So it's like give and take. It's like as you go a little more north, you can get a little more for the price, but you have like little lighter winters, but your summers are still awesome. Or as you go more central or, you know, closer to other attractions, the price can get a little higher.
So again, we're seeing five bedrooms at 750,000. We're seeing them at 400,000. It is. That's why I said each submarket in the Poconos is basically its own market.
[00:30:19] Speaker A: How many miles are we talking here? Like north to south, like this one here. How far away is it from the ones that are comparable that are 200 grand more?
[00:30:27] Speaker B: Let's do it. Let's pull up a map.
[00:30:29] Speaker A: All right.
[00:30:33] Speaker B: Okay. So Poconos geography. So this is Toby Hana right here. This is where this home's located. 400, 000 home, you know, 95k gross revenue. This is what I said. Goldsboro, this area as you get more north. So that estates of Emerald lakes home was right here. Tal mincing trails is right here. Penn estates is right here. These are all the homes that we already looked at. So as you get more. And the closest ski mountain for this home is right here.
So you just got to go off the highway, but it's about a 20 minute, 25 minute drive. That's why I said as you get more north here, prices start to come down. But from an str perspective, the winters can be a little lighter. I'm not saying it's non existent, but again, as you get further from the ski mountains, it gets, you know, a little less occupancy. But the summers are really good to where annual revenue basically balances it out. So. But again, it always comes down to the deal.
[00:31:37] Speaker A: Okay, great, great.
Good explanation. I don't mind that one because you know, you could play the low price per night on a, on a house like that for 400 grand for five beds. That's something that may be worth looking at in real life.
[00:31:51] Speaker B: Absolutely. Okay.
[00:31:53] Speaker A: It's brand new. 17 hours.
[00:31:55] Speaker B: Yeah, yeah, this, this just listed. I just got the notification for this one last night. So.
[00:32:00] Speaker A: Cool.
[00:32:01] Speaker B: Good stuff. Awesome. All right, next one lakefront property.
So as you've seen, we saw a lakefront property that was over $2 million. Now this is a lakefront property in Emerald Lakes. So the estate of Emerald Lakes, like we just looked at that one Property that was 600,000 that is to the west side of Emerald Lakes. This one is just regular Emerald Lakes east side. Three bedroom, two baths, you know, 675, 000 good size home. They converted the girl.
Different lakes. Yeah, Emerald Lakes has like five lakes. So. So different lake here, but this is a smaller lake. It's really, I think it's called a pond almost, but still have some really nice appeal.
[00:32:47] Speaker A: You know, you'll be fishing there say one time we fish in there.
[00:32:51] Speaker B: You could fish. There's fish. There's fish in there.
You could even take a kayak out there if you want.
But this is a three bedroom, two bath, three bedroom septic. It's actually a four bedroom but it's permitted for SDR purposes as a three bedroom which is completely fine. It's a very attractive price for a three bedroom. The house over is a three bedroom also for sale and it's at 800,000 and it's like updated slightly. So in the sense like this, you know, they use the two car garage as a game room, which I always recommend, you know, make usable space of the garage because not really anyone's just looking to park their cars there here in the Poconos.
But yeah, yeah, this one could use a design refresh, use a couple amenities. But price is good for, for what it is.
[00:33:44] Speaker A: This is very attractive to me.
Again, I need to see it in real life.
[00:33:50] Speaker B: Baseboard heat. Very. Yeah, baseboard heat is very common.
[00:33:53] Speaker A: I love the pond. I love the pond.
Go back up. Hold on. Let me see the neighbors there.
[00:34:00] Speaker B: Yeah, one there and one there. And there's trees in between both.
[00:34:05] Speaker A: Okay. A little swampy.
[00:34:07] Speaker B: Yeah, yeah, yeah. That's a little bit, right?
[00:34:14] Speaker A: Oh, very attractive. Okay, cool. I like this vibe. It's cool.
Yeah.
[00:34:19] Speaker B: So three bedroom, two baths. It, you know, it just depends, but usually for lakefront, it's as long as it makes sense at a price. Price perspective. Anytime. With lakefront, sometimes the price can get a little too higher for it to make sense from a short term rental perspective. But this, this is a. There's a good price for. For what this is.
[00:34:39] Speaker A: I mean, it's four times less than the other lakefront house we looked at.
[00:34:44] Speaker B: There you go. Yeah. Again, it's all these submarkets. Might as well just be. It's up market, so.
[00:34:49] Speaker A: Yeah, I got you.
My guess is that other lake is probably more desirable.
[00:34:55] Speaker B: Yes. 100.
[00:34:56] Speaker A: Okay, cool. Yeah.
[00:34:59] Speaker B: All right. And many splits. Very common here. Yeah, so got many splits, baseboard heat.
That combination is very, very common here. So.
All right.
Okay. And get into the next one here. So hopping all over the place. So this is in Locust Lake Village.
Lake view. So. Or it's essentially like it's on the other side of the road. So the other side of the road's lakefront. This is on the other side of the road across the street.
4 bed, 3 bath in locust Lake Village. Very popular short term rental community location wise. Locust Lake Village is at the bottom of Pocono Lake. The top of Pocono Lake is Arrowhead Lake. Two different communities.
[00:35:51] Speaker A: And.
[00:35:53] Speaker B: And this one has lakes, beach access.
Very popular.
And this.
Yeah, Yeah. A lot of the wood, like, like, it's very, very common here. You got some really big windows, which is always good.
[00:36:13] Speaker A: I see lots of skylights, too.
[00:36:15] Speaker B: Yeah, ton of skylights here. Ton of skylights. And again, it's, it's. It's preferred. Again, the more natural light. You can have, like, guests like that.
[00:36:31] Speaker A: Think of all the beers that have been drank drunk and the stories that have been told in that room.
[00:36:37] Speaker B: More than we could count, probably.
[00:36:38] Speaker A: Yes.
[00:36:46] Speaker B: Yeah, same thing in this area. It's very woodsy. So homes aren't on top of each other.
Surrounded by a lot of trees. The. All the wood is. Is very common here.
[00:36:57] Speaker A: Drop ceiling.
[00:36:59] Speaker B: Yeah, a lot of wood.
[00:37:01] Speaker A: It's got a grandma vibe going on here.
[00:37:04] Speaker B: A little bit. A little bit. Could use a design refresh for sure.
[00:37:09] Speaker A: Hot tub's new.
[00:37:12] Speaker B: Yeah, hot tub looks good. And it has the privacy Too. So that's important, too, is having some type of privacy for the hot tub. Because if you just have a hot tub out. Out and about, you know, people, it could make guests uncomfortable. So creating some type of privacy is important.
And this is just the nearby. Nearby lake.
And then it goes into everything that the lake, the community offers.
Awesome.
[00:37:49] Speaker A: Wait, wait. Go back up. How close is it to the lake?
Man, this thing is. I'm like, I'm starting to smell it. You know what I mean? From the pictures. Like, what is this?
What does this thing smell like?
[00:38:02] Speaker B: Yeah, see if I can get this.
Here we go.
[00:38:07] Speaker A: Oh, it's, like, right there.
[00:38:09] Speaker B: Yeah. So right across. So all this is trees and everything.
Like, this lakefront's not being used at all. So it's right across.
[00:38:17] Speaker A: Oh, I got you. Okay, hit that street view on the. Hit that street view. Let's see what that pulls up on the top, right? That little corner, that little square.
[00:38:23] Speaker B: It might just be all trees, but here. Oh, no. Oh, yeah, that's the thing. So in the. In the Poconos, all these communities, there's really no street views that you can look at, so. Yeah, not too far.
Not too far.
[00:38:39] Speaker A: Okay. I like that one. I would want to see that one.
Yeah.
[00:38:43] Speaker B: 100.
All right.
Same community getting a little smaller now. So, you know, couple. Couple getaways. Two bed, one bath on naughty. Right around 700 square feet.
Very common, you know, home like this, sleep two to four people.
[00:39:01] Speaker A: And again, same 72.
[00:39:04] Speaker B: Yeah, yeah, yeah, yeah.
So, yeah, same thing, same community, same type of vibe. You know, the woods a little brighter, maybe more lighting in here. But right now, they have it set up as, you know, parents and then, you know, kids. For small family, I always recommend, you know, couple getaways usually moves the needle here, especially in this community.
Well, it's something small and affordable.
[00:39:34] Speaker A: This could be pretty easily done.
Like more of a modern, kitschy.
[00:39:42] Speaker B: Yeah.
[00:39:44] Speaker A: And again, small space like that would be easy to. To design because it's.
It's tiny. Oh, look at this.
I miss them sometimes.
[00:39:54] Speaker B: Yeah. Yeah. This home's perfect for anyone that's, you know, maybe, you know, haven't invested before, and, you know, you don't want to go too big. You want to start with something small and then kind of, you know, get your reps in as you get better. As a host, like I said, two bedroom, one bath. The max this thing could sleep is I. I'd recommend four, maybe two to four. Like, that's going to be the common target market here. And there's a large demand for a couple getaways in this specific area of Locust Lake Village.
[00:40:23] Speaker A: And what does this rent for a year,
[00:40:27] Speaker B: this one? I don't have the numbers on this one, but guess as is maybe 40, 000. It can get a lot higher. You'd be. You'd be surprised what these two bedrooms, these little ones can do.
[00:40:43] Speaker A: So I don't see any sort of heat or error.
[00:40:48] Speaker B: Yeah, this one. Yeah. So this one has no cooling.
No cooling at all. So that is something to think about.
You know, it could be a mini split system. A place this large or placed at this size doesn't need. You know, it might. You could probably be fine with just one zone outside and then have you get one of the newer ones. You get three heads in here or two to three heads and you know, that's. That's probably fine. You could probably be all in around like 5,000.
[00:41:20] Speaker A: Yeah, mini splits are not a big deal.
[00:41:22] Speaker B: Yeah. So baseboard heat again, very good.
[00:41:24] Speaker A: Yeah, I thought I saw a little baseboard thermostat, but I didn't see any.
[00:41:27] Speaker B: Yeah, yeah, yeah, baseboard.
The thermostats in each room are common, you know, so each, each little thermostat in each room controls that baseboard.
[00:41:38] Speaker A: So that.
[00:41:39] Speaker B: That's common here in the Poconos. But yeah, for cooling something of this size, it would be costly.
[00:41:51] Speaker A: All right, some potential here for somebody looking for something easy and small.
Well, it won't be. I don't know about easy, but, you know, high occupancy is a better way.
[00:42:03] Speaker B: Yeah, you can get some high occupancy in here. So. But awesome. All right, next one.
So same. This is entailmenting trails. So it's like, okay, like five bedroom. We saw that other one that was newer at 750.
What's the price difference there? So this home, little on the. I mean, it's a little older, so that one is newer. So this one is built in 2006. It's not too old.
But one thing that's very worth noting about this home is, is that it has a three bedroom septic. Now, you can only rent it as a three bedroom. So, like that is something to keep in mind. So if you're looking at it from an investment standpoint of, oh, this five bedroom house, it's a little over 500,000.
That's a great deal. Well, if you don't know that the septic needs to be upgraded, then this might not make sense. Now, in the MLS notes, it did say that the owner Plans to upgrade the septic per. Like before closing. So if that's the case, then this is, this is a great deal. But just something to get in writing and make the agreement contingent on that because again, the swing in this area from three bedroom to five bedroom is, is huge. And even if you like something like this would be hosted as currently as is a three bedroom plus two bonus rooms. But you don't get the, you don't get the upside of being able to host what a five bedroom can. It'll only be a three bedroom. So something like this very again, you know, has nice inside. Could use a design up update.
But it's just important to keep in mind especially in these septic areas. Like what is septic or like what is the septic permitted for?
[00:44:02] Speaker A: Yeah, I'm not super crazy about this one.
[00:44:05] Speaker B: Yeah, yeah. I, yeah, I think, I think from a deal this is, this is one of my.
Because all the homes that I showed previously, I think they're great deals. I don't think this one's a good deal. So this one and the next one, I don't think this is a good deal. I think, I think the price is too high for what it is because it's not turnkey. So. It's not turnkey. It's like you're gonna have to do a design refresh. You're gonna add some amenities in the backyard, but then you're gonna have to figure out something regarding the septic.
So I would put this on one of the deals I likely would not recommend.
[00:44:37] Speaker A: Yeah, I mean, Yeah, I get it. 519, five bedroom.
But other than that, it doesn't have a whole lot going on for it.
[00:44:44] Speaker B: No, no, no. And again, something. Yeah. So that, that is like again, when you see 5 bedroom, see this price point in this area, that's very attractive. But again, if it's only permitted as a three bedroom currently and there's work to be done, you know, makes it, makes it less attractive.
[00:45:05] Speaker A: Yep. And for the right price, I'll take it.
[00:45:07] Speaker B: Absolutely.
[00:45:08] Speaker A: Hey, hey.
[00:45:09] Speaker B: There's a price for everything. There's a right price for any home.
[00:45:11] Speaker A: That's right. I'm. I don't mind doing work. Let's do some work.
[00:45:13] Speaker B: Yeah, yeah, yeah. Add some value.
[00:45:15] Speaker A: You got to give me some, you know, give me something to work with.
[00:45:18] Speaker B: Need some concession.
[00:45:19] Speaker A: So let's go.
[00:45:22] Speaker B: So. And then I got one more home here. This is Emerald, if it lets me click on it. If it's in Emerald Lakes, when you look at the home, you know, it so the, the colonial look here on Emerald Lake is very common. So but the inside, you know, six bedroom, three bath, it's clean, has central air.
The backyard is a little backyard. But you know it's a really nice inside.
Again could, you know it has some nice flooring. Kitchen looks good.
The only thing with this and why I wouldn't recommend this as a good deal.
The, the, the septic in the front is a three bedroom septic and you can only host this as a three bedroom. So you might as well look at this, look at this as a three bedroom home that's listed for almost 500,000 which in this market is extremely high.
That's why this home's been sitting for a while because.
And, and that's the thing too. It's not like okay, if the septic's smaller doesn't make it a dead deal. Right. Again, it really just depends on how involved you want to get with it.
But this again, it's listed as a four bedroom plus two additional room. It's really a three bedroom septic. It's a thousand thousand gallons. That's why it's been sitting for 206 days because the mound sits right in the front here.
And there's no way to upgrade this. It runs right into the driveway. So septic company is going to come out and say hey, we can't upgrade this. So you're really stuck with a three bedroom house. But it's advertised at six for almost 500 000.
[00:46:59] Speaker A: More of a primary I think.
[00:47:01] Speaker B: More of a primary, yeah. It just wouldn't make sense from a rental perspective. Again, you know, has good potential when you look at it from the inside. But there is a reason why it's been sitting for over 200 days is because this area is very popular for short term rentals. A lot of short term rental investors are looking here and you know, when they see six bedroom, you know, catches their eye. But now it's only can be a three bedroom septic. This home was under contract, fell out of contract because he made a contingent on the home being six bedroom septic and it couldn't be upgraded.
[00:47:40] Speaker A: I see.
So we already, we already know can't do that. So based on what you said earlier, this thing sleeps eight.
[00:47:47] Speaker B: This, this home sleeps eight people per bedroom. Three per bedroom plus two. Yeah. Well so townships are different. Yeah. So each township's different. So this particular township it's a, it's two per bedroom plus two. There's some townships that it's, it's usually one of the two, it's either two per bedroom plus two or two per bedroom plus four. It just depends on which township it is. This one is. Can only sleep eight people.
[00:48:13] Speaker A: Yeah. Nice second home, though.
[00:48:15] Speaker B: Absolutely. Yeah, absolutely.
[00:48:18] Speaker A: Your second home, you're never even gonna.
You could have a one bedroom septic and, you know.
[00:48:23] Speaker B: Yeah, yeah, yeah. Well, that's the thing too. Everything checks out for this home in the sense, like, okay, it's a good size. If it was a six bedroom, like septic, then like, the price is attractive.
It's right down the street from a lake. But the only thing holding it up is the septic tank right here.
Got it.
All right. That is all the homes I have.
[00:48:46] Speaker A: Wonderful. All right, well, I enjoyed it. Thank you. Short term shopping, Poconos.
How do we get a hold of you?
[00:48:54] Speaker B: Yeah, my email is tristan the shorttermshop.com. so feel free to send me an email.
[00:49:01] Speaker A: Yeah, shoot them an email. And of course you can find us. Every Wednesday we do live calls, which is str.questions.com. love to have you on that. Any. Any given Wednesday. And I'm Luke from the short term shop. And thank you. Don't overthink it.
