30 photos
Prospect analysis
1300 Lake Rd
Asking$995,000
Conneaut · Conneaut, OH · 7 bd · 8 ba · 12,250 sq ft · Built 1963
Underwritten as a short-term rental
Expansive 7-bedroom, 8-bath waterfront estate on Lake Erie with strong short-term rental income projections and multi-family layout flexibility.
This property offers nearly 13,000 square feet of living space on over 2.5 acres, designed for large groups and multi-generational stays. High-confidence underwriting projects robust cash flow and a compelling cash-on-cash return, though the unique scale and location require careful diligence on demand and operational complexity.
Est. ADR
$719
Est. occupancy
62%
Gross rev / mo
$13,559
Cash-on-cash
31.3%
Airfolio market estimates · 20% down · detail in the underwriting panel.
Investment thesis
This Lake Erie waterfront estate stands out for its rare combination of size, privacy, and flexible multi-wing layout, making it well-suited for large group short-term rentals or luxury retreats. The property’s design supports high occupancy and premium ADRs, as reflected in the high-confidence underwriting metrics. Its appeal is strongest for investors targeting group travel, family reunions, or corporate retreats in a region with limited comparable inventory. The primary caveat is the operational complexity and market depth for such a large-scale rental in Conneaut, which should be further validated during diligence.
Highlights
- 7 bedrooms and 8 bathrooms across 12,250 square feet
- Multiple private living areas (east wing, west wing, 2nd floor, lower level)
- Direct Lake Erie frontage on over 2.5 acres
- Expansive outdoor entertaining areas, firepit, and private shoreline access
- Heated solarium and 3-season room for year-round use
- Heated four-car garage with space for recreational vehicles and boats
- Projected monthly STR income of $13,559 and cash-on-cash return of 31.3% (high-confidence underwriting)
Risks
STR permitting: verify local ordinance and zoning allow short-term rental at this address before offering. Not verified.
STR regulations and local permitting requirements should be verified for Conneaut
Returns are sensitive to occupancy and ADR assumptions, especially for large group rentals
Operational complexity due to property size and multi-wing layout may increase management costs
Seasonal demand swings typical for Lake Erie region could impact income stability
Higher-end, large-scale inventory may have a smaller buyer pool and longer resale timelines
Market
Conneaut, OH is a Lake Erie shoreline community with a mix of residential and vacation properties. The short-term rental strategy here is focused on group and family travel, leveraging the property’s size and waterfront location. While the underwriting metrics are high-confidence, the market for such large-scale rentals is niche, and demand should be validated against regional travel patterns and competition.
Neighborhood
The property’s private, lakefront setting offers strong guest appeal for those seeking seclusion, recreation, and scenic views. The residential character is likely quiet and low-density, with limited walkability to amenities. Given the unique scale and location, conclusions about neighborhood demand are moderate-confidence and should be supported by further diligence into local STR performance and guest preferences.
Underwriting notes
At a $995,000 purchase price, underwriting projects a monthly STR income of $13,559, monthly cash flow of $5,190, and a 31.3% cash-on-cash return, assuming a 62% occupancy rate, $719 ADR, 25% expense ratio, and 20% down payment at a 6.4% interest rate. These high-confidence figures suggest strong income potential, but are sensitive to occupancy and ADR performance, which are driven by the property’s ability to attract large groups consistently throughout the year.
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