Lofty 25 Rocky Ridge Rd

Guest Favorite Short-term Rental located minutes from resorts in Killington, Vermont.

Offering Details

• Dave McComb transferred his property's deed to a new LLC and is selling a portion of the LLC on the Lofty Marketplace. This property is the only asset owned by the LLC.
• Tokens represent direct ownership in the LLC that owns the property. Dave will maintain at least 10% ownership in the LLC indefinitely.
• View proof of Dave's ownership prior to the title transfer here. View proof of title transfer to the LLC here. View the LLC documents here.

Property Details

• This property is a Guest favorite Short-term rental with $105k in gross revenue Year to Date (2024) as of October. View Year to Date P&L. The "Projected Rental Yield" is the average yield per month based on the 2024 P&L.
• The highest revenue months are from January through March. The gross revenue in October is $5,084, whereas the gross revenue in February, 2024, was $24,524.
• This property is a spacious 6-bedroom, 3.5-bath, three-story home located near Killington Mountain, offering privacy on 1.1 acres but close to shops, restaurants, and bars.
• Fully equipped kitchen with modern appliances, cooking essentials, and outdoor deck featuring a hot tub (fee applies mid-Mar to mid-Dec) and BBQ grill.
• Living room with 55" LCD TV, wood-burning stove, sound-bar, Netflix, and media room with Roku, cable, DVD, and gaming console.
• Additional amenities include a game room with darts and foosball, office space with two desks for teleworking, Wi-Fi, and smart TVs throughout.
• Pet-friendly option (fee may apply) with AC on the main floor and portable AC units in upstairs bedrooms for added comfort.
• Dave has owned this property since 2003. This property was first used as a ski share house before being converted into a short-term rental.
• The town of Killington has plans to develop a ski village complete with turn-key condominium residences, townhomes, and prestige mountain home sites. Perfectly situated at Killington, a jewel in the portfolio of POWDR, one of the largest mountain operators in North America. Learn more here.
• Dave purchased $11,243.76 in replacement windows in 2022 (view receipt). The work to install these is not critical and has not yet been completed.
• All flooring was replaced in 2021 at a cost of $17,988.96
• Dave advised that their ski resort was just sold to a group of private investors who did not want a large conglomerate like Vail to take control. They have a 10 year plan to reinvest in the ski resort as well as work on the development of a ski village - just 5 minutes from the property. Read more here.
• Dave decided not to add furniture costs on top of the total property value.

Property Management and Insurance

• Managed by Dave's Property Management company, Simple Vacation Rentals, a Superhost on Airbnb with over 1,700 reviews and a 4.85/5 rating.
• Property Management Agreement
• The Property Management fee will be 10% of monthly gross revenue in the months of May through October. The Property Management fee will be 25% of gross revenue in the months of November through April.
• Insurance Policy from Vermont Mutual Insurance Company.

Property Leverage

• This property has a loan balance of $333,900 View the loan documents here
• As the seller, Dave McComb pays down 100% of the loan payments, his equity percentage in the property will increase and the levered rental yield of investors will decrease over time. Investors have the ability to change this structure via a governance vote.

Occupancy Status

• Rented on Airbnb
• Airbnb link

Location Data

• "A-" Rating for Zip Code on Niche
• The town of Killington has plans to develop a ski village complete with turn-key condominium residences, townhomes, and prestige mountain home sites. Perfectly situated at Killington, a jewel in the portfolio of POWDR, one of the largest mountain operators in North America. Learn more here.
• Ski resorts: Killington Snowshed Base (2.4 miles), Killington K1 Base (3.0 miles), Pico Mountain (4.7 miles), Mountain Meadows Cross Country Skiing (2.4 miles)
• Golf: Killington Golf Course (2.3 miles), Green Mountain National Golf Course (4.9 miles)
• Nightlife: Pickle Barrel (0.6 miles), Wobbly Barn (0.7 miles), Mary Lou's (1.3 miles), The Foundry at Summit Pond (1.2 miles)
• Weddings: Killington Grand Resort (2.4 miles), Mountain Top Inn & Resort (15.6 miles)
• Airport: Rutland Regional Airport (18.6 miles), Burlington International Airport (74.4 miles), Albany International Airport (113 miles), Manchester-Boston Regional Airport (116 miles)

Due Diligence Documents

• Quitclaim Deed
• Title Report
• 2024 Booking Report
• Appraisal
• Inspection Report
• Operating Agreement
• View All Documents