This area does very well with vacation rentals. The rental rate is determined primarily by the number of people the house can sleep i.e. 3 bedrooms VS. 4 bedrooms. The other factor is the age of the home and condition along with any amenities you have (outdoor shower, deck/patio, air conditioning, premium cable TV etc.).
Using the assumption that you have an average home in this location, with 3 bedrooms & 2 full baths, basic amenities and parking for 3 cars, I would estimate a ball park weekly rate of $1,750 - $2,400 if you're on the east side of Ridge Road and $1,400 - $1,950 if you're on the west side of Ridge Road. With these rates, I would expect you to book all of July & August and then if you drop the rate for the "shoulder" seasons (May, June and September, October) I would expect you'll rent a fair number of those weeks too.
If you hire a rental manager, you can expect to pay 20% +/- depending on whether they include cleaning, repair services, linens etc.
Hello. This site- Trulia- automatically does a $$/ SF calc for all the home listings it has posted. You should be able to check those out. Of course, not all homes for sale or on Trulia.
$$/ SF is an important pricing tool, but it has its limitations for sure. Its a good first thing to use, but it goes much deeper than that and can easily blur a buyer's vision. Part of it is- who came up with the SF number- and is that accurate? In many cases, it is not.
If you have 4 people come up with a SF of GLA for a home, you will likely get 4 different answers- somewhat. So be careful relying on any of that too much. If you are going to buy a house, do the measurements yourself or compare it to what the appraiser measures. Sometime the listings can "inflate" the # a little.
Hope that helps. Please contact me if I can help in any way. Thanks and good luck,
Ken L.... more