Blog > 44 Penley Rd, Fletcher, NC - $850,000

44 Penley Rd, Fletcher, NC - $850,000

by Tyler Coon

This STR is the crown gem of our very own STR king and CEO of Savvy Realty, Tyler Coon. Tyler made $1,000,000 on this house outside of any guest bookings! This home was purchased in 2023 for $850K. The property did $200K+ for two years in a row. In 2025 Tyler had the house re-appraised to pull PMI off and it appraised for $1.17M! Then Ishita Interiors redesined the whole house for $300K. To access some of the equity in the house, Tyler had Brenna Carles begin the cash out re-finance process... and the house appriased for $2.19M!! and the house is now on track to make $300K/year as an STR!

Deal Metrics:

Purchase Price : $850,000 - $50k Seller Credit

Down Payment: $85,000

Closing Date: March 7, 2023

Listing Live: June 9, 2023

Initial Projected Revenue: $165,000/year

First two Years Revenue: $200,000+/year

2025 Redesign: $300,000

2025 Re-appraisal: $2,190,000

2025 Revenue: On Track for $300K/year

AirDNA Revenue