I’m in the process of purchasing a second home in Aspen, CO, which will also serve as my first STR property. It’s a newly renovated 3-bedroom, 2-bathroom townhouse located in Aspen’s lodging district, where STRs are fully permitted. The property is just one block from the ski slopes and four blocks from downtown.

The current owner occasionally rented it out for $30,000 per month during the peak winter and summer seasons. Over the next couple of years, I don’t plan to use the property often, though I may stay there occasionally when it’s not occupied. My primary focus is on maximizing cash flow.

Here are some facts:

• Price: $4,250,000
• Taxes: $9,000 annually
• HOA Fees: $9,000 annually
• Insurance: $4,000 annually
• Mortgage Payment: $18,000 monthly

The realtor involved in the deal has shared the following rental rate estimates:

• Daily: $2,000
• Weekly: $10,000
• Monthly: $30,000
• Long-Term Monthly: $25,000
• Holiday Daily: $3,000
• Holiday Weekly: $15,000

My Question:

Do you think it is possible for this property to cash flow? I’m looking for insights from anyone with experience in this market to help determine if these numbers are realistic. Any advice would be greatly appreciated!