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Prospect analysisArchived
121 Garnet Street
Asking$1,399,000
Sunapee · Sunapee, NH · 3 bd · 2 ba · 1,440 sq ft · Built 1989
Underwritten as a short-term rental
Lake Sunapee waterfront property with private dock and strong short-term rental income potential.
This 3-bedroom, 2-bath home offers direct lake access, a private dock, and proximity to both Sunapee Harbor and Mount Sunapee Resort. High-confidence underwriting metrics indicate robust projected cash flow and returns, though the investment thesis depends on sustaining premium ADR and occupancy assumptions.
Est. ADR
$950
Est. occupancy
62%
Gross rev / mo
$17,915
Cash-on-cash
27.6%
Airfolio market estimates · 20% down · detail in the underwriting panel.
Investment thesis
This property stands out as a rare direct waterfront offering on Lake Sunapee, with a private dock and four-season appeal, making it well-suited for high-end short-term rental strategies. The combination of lake access, proximity to year-round recreation, and a functional 3-bedroom layout positions it to attract both summer and winter guests. Underwriting metrics suggest strong income and cash-on-cash returns, assuming the property can consistently command premium nightly rates and maintain solid occupancy. The primary caveat is the high purchase price, which requires continued strong demand and operational execution to achieve projected returns. Investors should confirm local STR regulations and diligence the physical condition given the 1989 construction.
Highlights
- Direct Lake Sunapee waterfront with private dock
- 3 bedrooms, 2 bathrooms, 1,440 sqft
- Open-concept living with sunroom and large deck
- Two-car garage and ample guest parking
- Listed at $1,399,000
- Proximity to Sunapee Harbor and Mount Sunapee Resort
- High-confidence underwriting with projected 27.6% cash-on-cash return
Risks
STR permitting: verify local ordinance and zoning allow short-term rental at this address before offering. Not verified.
STR regulations and permitting should be verified for Sunapee
Returns are sensitive to achieving premium ADR and occupancy
Seasonal demand swings may impact income consistency
Older construction (1989) may require maintenance or updates
High price point narrows the buyer pool for future resale
Operational complexity of managing a waterfront STR property
Market
Sunapee, NH is a desirable four-season destination, anchored by Lake Sunapee and Mount Sunapee Resort, attracting both summer and winter visitors. The market supports premium STRs, particularly those with direct lake access and recreational amenities. While demand for waterfront rentals is strong, the high price point and reliance on continued tourism trends introduce some sensitivity to broader market shifts.
Neighborhood
The property is situated in a lakeside residential area with direct water access and is minutes from Sunapee Harbor, offering guest appeal for both relaxation and recreation. The neighborhood likely attracts families and groups seeking a classic New England lake experience, with additional draw from nearby ski and outdoor activities. Conclusions about guest demand are high-confidence given the location, though detailed neighborhood-level demand signals are limited.
Underwriting notes
At a $1,399,000 purchase price, underwriting projects a monthly expected income of $17,915 and cash flow of $6,436, with a 27.6% cash-on-cash return based on a 20% down payment, 6.4% interest rate, and 25% expense ratio. These high-confidence figures are driven by an estimated $950 ADR and 62% occupancy, which are aggressive but plausible for premium waterfront inventory in this market. Returns are highly sensitive to maintaining these performance levels, and investors should confirm all assumptions during diligence.
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