Case Studies

Proof Is in the Returns.

Five case studies from properties I've owned. Each one I found, bought, designed and launched myself, and each shows the purchase, the work, and what it earns. Every number is real, and it's the same process I run for clients.

This is not a complete list of all properties acquired or managed through Covest and AirSimplicity.

5
Properties Shown
$3.96M
Combined Asset Value
12.0%
Avg 4-Yr Cash-on-Cash
~$2M+
Total Equity Built
STR – 2 Units (1 Active, 1 Converted to LTR)
Aug 2021
The Stargazer
Twin Lakes, CO
4 beds·2 baths·1,520 sq ft·4.98 on Airbnb

Two units in Twin Lakes, at the foot of Colorado’s highest peaks. One operates as a short-term rental; the other was converted to a long-term rental for stable cash flow diversification. Combined financials shown below.

$570,000
Purchase Price
$130,000
Reno Cost
$560,000
Asset Value
4-Year Avg Returns
Avg Gross Revenue$56,751
Cash-on-Cash12.1%
Cap Rate8.2%
Total ROI56.3%
View full breakdown
STR – 4 Small Cabins
Nov 2020
Mt. Hope
Twin Lakes, CO
6 beds·3 baths·4,200 sq ft (combined)·4.97 on Airbnb

Four independent cabin units in one of Colorado's most coveted mountain locations. Each cabin operates separately — maximizing occupancy and revenue. Strong year-round demand from hikers, climbers, and mountain retreat seekers.

$496,000
Purchase Price
$58,000
Reno Cost
$1,000,000
Asset Value
4-Year Avg Returns
Avg Gross Revenue$131,635
Cash-on-Cash12.8%
Cap Rate8.4%
Total ROI61.3%
View full breakdown
STR – Single Family
Mar 2022
68th Ave Retreat
Arvada, CO
5 beds·3 baths·2,487 sq ft·4.95 on Airbnb

A Denver Metro urban retreat positioned at the premium end of the market. Strong year-round demand from corporate travelers, weekenders, and event attendees. Proves the Covest model works outside mountain markets.

$772,000
Purchase Price
$79,000
Reno Cost
$750,000
Asset Value
4-Year Avg Returns
Avg Gross Revenue$58,616
Cash-on-Cash14.1%
Cap Rate9.2%
Total ROI84.7%
View full breakdown
STR – Single Family
Jun 2019
Sheridan Bungalow
Denver, CO
4 beds·2 baths·1,820 sq ft·4.96 on Airbnb

A Denver neighborhood home with strong proximity to events, attractions, and the mountains. Renovated for premium positioning — this one attracts corporate groups and families seeking urban convenience with local character.

$375,425
Purchase Price
$61,000
Reno Cost
$850,000
Asset Value
4-Year Avg Returns
Avg Gross Revenue$50,491
Cash-on-Cash10.9%
Cap Rate7.3%
Total ROI43.7%
View full breakdown
STR – Duplex + Garage Conversion (3 Units)
Aug 2022
Perry Jr & Perry Sr
Salida, CO
5 beds·3 baths·2,350 sq ft (each unit avg)·4.97 on Airbnb

A Salida duplex acquisition where we renovated the detached garage into a third independent STR unit. Two primary units (3-bed, 2-bed) plus the garage conversion creates exceptional portfolio flexibility. Rare multi-unit Salida find.

$475,000
Purchase Price
$112,000
Reno Cost
$1,050,000
Asset Value
4-Year Avg Returns
Avg Gross Revenue$152,800
Cash-on-Cash13.8%
Cap Rate8.9%
Total ROI78.4%
View full breakdown

Want Your Name on the Next Covest Deal?

Every deal above started with a conversation. Let's talk about what the right Colorado STR looks like for you.

Book a Call