Raleigh STR market context
Raleigh is primarily a long-term-rental market. STR demand exists but the revenue uplift over LTR is modest and operational complexity is meaningful.
Raleigh is a premium-appreciation market. Best results come from Class-A SFR rentals in well-rated school districts.
Underwriting cautions
- Verify STR permit availability at the parcel level before closing.
- Apply a 75% haircut to top-quartile AirDNA comps when projecting revenue.
- Budget 35–45% expense ratio (cleaning, supplies, management, channel fees, utilities).
- Model a long-term-rental fallback scenario in case STR rules tighten.