Compare all four rental strategies on the same property — including the seasonal hybrid
Pure Airbnb, mid-term rental, long-term lease, and the hybrid that beats them all in seasonal markets. Enter your numbers and see exactly which strategy wins — and why.
Defaults match a seasonal coastal market ($320K purchase). Update any input — results update instantly.
Property & Financing
Short-Term Rental (Airbnb / STR)
Mid-Term Rental (MTR)
Long-Term Rental (LTR)
Hybrid Season Split
In Pure STR, slow months run at slow occ. %. In Hybrid, those months switch to MTR instead — that's the key difference.
Pure MTR produces the highest NOI: $25,616 (8.00% cap rate, $538/mo cash flow)
| Metric | STR | Hybrid | MTR ★ | LTR |
|---|---|---|---|---|
| Gross Revenue | $34,700 | $39,795 | $34,800 | $24,000 |
| Operating Expenses | $19,403 | $16,606 | $9,184 | $7,680 |
| NOI | $15,296 | $23,188 | $25,616 | $16,320 |
| Cap Rate | 4.78% | 7.25% | 8.00% | 5.10% |
| Monthly Cash Flow | -$322 | $336 | $538 | -$237 |
| Cash-on-Cash | -4.83% | 5.03% | 8.07% | -3.55% |
| DSCR | 0.80x | 1.21x | 1.34x | 0.85x |
STR expenses include 3% platform fee, per-turnover cleaning, and management fee (0% default = self-managed). MTR expenses use Furnished Finder flat subscription + per-placement cleaning at ~$100/turnover. Base expenses (taxes, maintenance, insurance) apply equally to all strategies. Mortgage included in cash flow metrics only.
Free — includes scenarios, risk radar & reports
The calculator models each strategy's true expense structure — not a flat percentage. STR and MTR have fundamentally different cost profiles, and the comparison only means something if those differences are accurate.
Pure STR, Pure MTR, Pure LTR, and the Hybrid (peak-season Airbnb + slow-season MTR) — all on the same property, instantly.
Set how many months run as STR and how many flip to MTR. Watch the Hybrid pull ahead of Pure STR as slow-season occupancy drops.
NOI, cap rate, cash-on-cash return, monthly cash flow, and DSCR — calculated correctly for each strategy with its own expense structure.
STR expenses (platform fee, turnover cleaning, management, utilities premium) are modeled separately from lower-cost MTR and LTR structures.
Pure STR has a fundamental problem in seasonal markets: slow-season occupancy. A beach property might run 73% occupancy in summer — and 38% in January. The annual average looks acceptable, but the slow months produce near-zero cash flow while fixed expenses continue unchanged.
The hybrid replaces those slow months with MTR. A 13-week travel nurse placement fills the property at near-100% occupancy, with none of the turnover costs, platform fees, or management overhead that make STR slow months so expensive. The result: the hybrid generates less gross revenue than pure STR, but significantly higher NOI — because the expense savings on 4–5 months of MTR operations exceed the revenue difference.
The calculator makes this visible. Move the Peak STR Months slider down from 12 to 7 and watch what happens to the Hybrid column vs. Pure STR. The crossover point — where hybrid NOI exceeds pure STR — is typically when slow-season occupancy falls below 55–60%.
| Expense | Pure STR | Pure MTR | Pure LTR |
|---|---|---|---|
| Platform fee | 3% of gross | $149/yr flat | None |
| Cleaning | Per turnover (high) | Per placement (~13 wks) | Annual only |
| Variable overhead | ~$200/mo (utilities, supplies) | ~$120/mo | ~$40/mo |
| Typical expense ratio | 45–60% of gross | 30–40% of gross | 25–35% of gross |
Fixed expenses (property taxes, maintenance reserve, base insurance) are the same regardless of strategy. Variable expense differences drive the NOI gap.
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STR (short-term rental) is nightly Airbnb-style bookings — high revenue potential but high expenses, occupancy volatility, and regulatory risk. MTR (mid-term rental) is furnished housing rented for 1–6 months, typically to travel nurses, contractors, and corporate relocators — lower gross revenue than peak STR but near-100% occupancy and dramatically lower operating costs. LTR (long-term rental) is a traditional 12-month unfurnished lease — lowest revenue, lowest expenses, lowest risk, least management.
The hybrid strategy outperforms pure STR when slow-season occupancy drops below roughly 60%. In seasonal markets — coastal, mountain, resort — slow months often run 35–45% STR occupancy. At that level, replacing those months with MTR (at near-100% occupancy and much lower operating costs) increases annual NOI even at a lower gross monthly rate. The hybrid captures peak-season STR rates when demand is strong, then eliminates the slow-season cash flow drag.
Almost always, on a furnished property. MTR typically commands 10–30% above equivalent unfurnished long-term rent on the same property — and with only modestly higher expenses. The NOI advantage of MTR over LTR is usually significant: the rent premium more than offsets the cost of furnishing and slightly higher operating expenses. The only scenario where LTR wins is when a furnished premium is not achievable in the local market.
Because pure STR performance is different in peak vs. slow seasons. A coastal property might run 73% occupancy in summer and 38% in winter. The hybrid uses peak occupancy for the STR months (accurate for when the property actually runs as Airbnb) and swaps the slow months to MTR at near-100% occupancy. This correctly models what the hybrid actually produces — rather than blending to a misleading annual average.
STR carries significantly higher variable expenses: Airbnb host fees (~3% of gross), per-turnover cleaning costs (8–12 turnovers per month at an average 3-night stay), STR insurance premiums, and higher utility costs from frequent guest turnover. MTR pays a flat Furnished Finder subscription (~$149/year, no commission), one cleaning per 13-week placement, and lower monthly overhead. The expense ratio gap — roughly 45–55% for STR vs. 30–38% for MTR — is what makes MTR's lower gross revenue competitive on NOI.
DSCR (Debt Service Coverage Ratio) is NOI divided by annual mortgage payments. Lenders require a minimum DSCR of 1.20–1.25 for investment property loans — meaning NOI must be at least 20–25% above the mortgage payment. A DSCR below 1.0 means the property cannot service its debt from rental income alone. The calculator shows DSCR for each strategy so you can see which approaches meet lender thresholds.