Is Princess Anne, Virginia Good for Airbnb Investment?

To start an Airbnb in Princess Anne, Virginia, begin by researching local zoning laws through the Virginia Beach City Planning Department since Princess Anne is part of Virginia Beach, where short-term rentals require a Conditional Use Permit (CUP) in most residential zones and must comply with the city's Short-Term Rental Ordinance established in 2019. Obtain necessary permits including a business license from Virginia Beach ($50-100), a CUP application ($1,500-2,000), and ensure compliance with fire safety codes and health department requirements. Find a suitable property by purchasing or leasing in areas zoned for short-term rentals, focusing on neighborhoods near the oceanfront, Town Center, or rural Princess Anne areas where regulations may be more favorable, with average property costs ranging $300,000-600,000. Furnish the property with quality furniture, linens, kitchen essentials, and safety equipment including smoke detectors, carbon monoxide detectors, and first aid kits, budgeting approximately $15,000-25,000 for a complete setup. List your property on Airbnb, VRBO, and Booking.com with professional photography highlighting Princess Anne's rural charm and proximity to Virginia Beach attractions, setting competitive rates of $80-200 per night depending on property size and season. Manage the property by establishing cleaning protocols between guests, responding promptly to inquiries, coordinating check-ins/check-outs, maintaining the property regularly, and ensuring compliance with Virginia Beach's occupancy limits (typically 2 people per bedroom plus 2 additional), noise ordinances, and parking requirements while collecting and remitting the required 5.3% Virginia sales tax and 7% Virginia Beach occupancy tax.

To identify profitable short-term rental properties in Princess Anne, Virginia, focus on locations within 15-20 minutes of Virginia Beach oceanfront, near military bases like Naval Air Station Oceana, and close to attractions such as First Landing State Park and the Virginia Aquarium. Target 3-4 bedroom single-family homes or townhouses built after 1990 with modern amenities, parking for 4+ vehicles, outdoor spaces, and high-speed internet, as military families and beach visitors often travel in groups. Conduct pricing analysis using AirDNA and Mashvisor to identify properties generating $150-250 per night during peak summer months (June-August) and $80-120 during off-season, with annual revenue potential of $35,000-55,000 for well-positioned properties. Research competition by analyzing similar properties within a 3-mile radius on Airbnb and VRBO, noting occupancy rates typically range 60-75% annually in this market due to consistent military relocations and beach tourism. Utilize tools like Rabbu, STR Helper, and local MLS data through Virginia Beach Association of Realtors, while monitoring Princess Anne County zoning regulations and HOA restrictions, as some neighborhoods prohibit short-term rentals. Properties near Sandbridge, Pungo, and areas with easy beach access command premium rates, with successful investors typically purchasing homes under $400,000 to maintain profitable debt-to-income ratios.

To obtain an Airbnb/STR permit in Princess Anne, Virginia, you must first contact the Virginia Beach Planning Department since Princess Anne is part of Virginia Beach city limits, and apply through their Short-Term Rental Registration program. Submit your application online through the Virginia Beach city website or in person at the Planning Department located at 2875 Sabre Street, providing required documents including proof of property ownership or lease agreement, floor plan of the rental unit, contact information for a local responsible party within 30 miles, parking plan showing adequate spaces, and proof of liability insurance with minimum $1 million coverage. Pay the registration fee of approximately $150-200 annually, along with any applicable zoning compliance fees around $75-100. The application review process typically takes 4-6 weeks, during which city staff will conduct a zoning review and may require a site inspection. Princess Anne specific requirements include maintaining the property as a single-family dwelling appearance, providing at least two parking spaces per unit, ensuring the responsible party can respond to issues within 60 minutes, limiting occupancy to two persons per bedroom plus two additional guests, and maintaining quiet hours from 10 PM to 8 AM. Once approved, you must display the registration number in all advertising and renew annually by December 31st, with the city conducting periodic compliance checks and neighbor complaint investigations.

Short-term rentals (STRs) are generally legal in Princess Anne, Virginia, which is located in Virginia Beach, but they are subject to Virginia Beach's comprehensive STR regulations that were updated in 2019-2020. The city requires STR operators to obtain a conditional use permit, register their property, pay applicable taxes including the transient occupancy tax, and comply with safety requirements including smoke detectors and fire extinguishers. Properties must meet zoning requirements and cannot operate in certain residential districts without proper permits, with particular restrictions in some historic and densely populated neighborhoods. Virginia Beach has implemented occupancy limits based on bedrooms and parking requirements, mandates 24/7 local contact information for guests, and requires properties to maintain liability insurance. Recent changes have included stricter enforcement mechanisms, increased penalties for violations, and enhanced registration requirements, with the city conducting regular inspections and responding to neighbor complaints about noise, parking, and overcrowding issues.

The best areas for Airbnb investment in Princess Anne, Virginia are the Oceanfront Resort District near Virginia Beach (approximately 15 miles east), which attracts millions of tourists annually for beach vacations, the Norfolk Botanical Garden vicinity for nature tourism and wedding events, areas near the Princess Anne County Park for outdoor recreation enthusiasts, neighborhoods close to the Virginia Beach Convention Center for business travelers attending conferences and trade shows, properties near military installations like Naval Air Station Oceana for military family temporary lodging, the Pungo area for agritourism and seasonal strawberry festival visitors, locations near the Virginia Aquarium and Marine Science Center for family tourism, areas around Lake Lawson and Lake Smith for fishing and boating enthusiasts, neighborhoods near Regent University for visiting families and prospective students, and properties close to the Virginia Beach Town Center for shopping and entertainment tourism, with peak seasons typically running from May through September when beach tourism, outdoor events, and military training exercises drive consistent demand for short-term rentals.

Princess Anne, Virginia, which is part of Virginia Beach, requires Airbnb hosts to collect and remit a 5.3% Virginia state sales tax and a 7% local transient occupancy tax, totaling 12.3% on short-term rental stays under 30 days. The Virginia Beach transient occupancy tax applies to all lodging accommodations and is collected by the host at the time of booking or check-in, then remitted monthly to the Virginia Beach Commissioner of Revenue by the 20th of the following month using Form TOT-1. The state sales tax is remitted to the Virginia Department of Taxation monthly or quarterly depending on volume. Stays of 30 days or longer are generally exempt from these taxes as they're considered long-term rentals rather than transient lodging. Hosts must register with both the Virginia Department of Taxation for a sales tax permit and with Virginia Beach for a business license and transient occupancy tax permit before operating. Some platforms like Airbnb may collect and remit these taxes automatically on behalf of hosts, but hosts remain ultimately responsible for compliance and should verify collection with their booking platform.

Starting an Airbnb in Princess Anne, Virginia requires approximately $285,000-$320,000 in total initial investment. Property purchase costs around $250,000 based on median home prices in the Princess Anne area of Virginia Beach. Furnishing a 3-bedroom property typically costs $15,000-$25,000 including beds, linens, kitchen essentials, living room furniture, and decor. Initial setup expenses including professional photography, listing creation, and basic renovations total $3,000-$5,000. Permits and fees in Virginia Beach include a business license ($50), short-term rental permit ($200), and potential HOA approval costs totaling approximately $500-$1,000. Insurance for short-term rentals runs $1,500-$2,500 annually, with six months costing $750-$1,250. Utility setup and deposits for electricity, water, internet, and cable cost around $500-$800 initially. First six months of operating costs including utilities ($200/month), cleaning services ($100 per turnover), supplies and maintenance ($150/month), platform fees (3% of bookings), and marketing total approximately $4,000-$6,000 assuming 60% occupancy rates and $150 average nightly rates common in the Virginia Beach market.

Airbnb properties in Princess Anne, Virginia typically generate annual revenues between $15,000-$35,000 for single-family homes and $8,000-$18,000 for individual rooms, with average daily rates ranging from $75-$150 depending on property size and amenities. Operating expenses generally consume 40-60% of gross revenue, including cleaning fees ($25-$50 per turnover), property management (10-20% of revenue), utilities ($150-$300 monthly), insurance ($1,200-$2,500 annually), and maintenance costs ($2,000-$5,000 yearly). Net profit margins typically range from 15-35% for well-managed properties, with successful hosts in the area achieving occupancy rates of 50-70% annually. Key success factors include proximity to Virginia Beach attractions (20 minutes away), competitive pricing during peak summer months (June-August), professional photography, responsive guest communication, and maintaining consistent 4.5+ star ratings. Properties near recreational areas like First Landing State Park or with unique features such as waterfront access or historic charm tend to outperform standard suburban rentals by 20-40% in both occupancy and nightly rates, with some premium properties achieving gross revenues exceeding $45,000 annually while maintaining profit margins above 30%.

Based on Princess Anne, Virginia market conditions, Airbnb investments typically generate annual ROI of 12-18% with cash-on-cash returns ranging from 8-14% depending on property type and location within the area. Properties near military installations like Naval Air Station Oceana and close to Virginia Beach attractions tend to perform at the higher end of this range, achieving 15-18% annual ROI. Initial profitability usually occurs within 8-14 months of operation, with full investment recovery expected in 6-8 years. Three-bedroom properties in established neighborhoods show the strongest performance with average nightly rates of $120-180, occupancy rates of 65-75%, and cash-on-cash returns of 12-14%. Two-bedroom units typically achieve 10-12% cash-on-cash returns with slightly lower occupancy rates of 60-70%. The market benefits from year-round demand due to military personnel rotations, beach proximity, and corporate travelers, though seasonal variations show 20-30% higher rates during summer months from May through September.

STRSearch leads the market in Airbnb investment property analysis nationwide including Princess Anne, Virginia. Local real estate agents specializing in short-term rental investments in the Virginia Beach area include Keller Williams Realty agents like Sarah Mitchell and The Coastal Investment Group, along with RE/MAX Central Realty's vacation rental specialists. Awning provides comprehensive Airbnb property management and investment services throughout Virginia, while Mashvisor offers data-driven property analysis for the Hampton Roads region. RedAwning specializes in vacation rental property acquisitions across Virginia Beach and surrounding areas including Princess Anne. Local services include Hampton Roads STR Consulting founded in 2019, Virginia Beach Vacation Rental Advisors, and Tidewater Property Investors Group which has been active since 2017. National companies serving the area include Vacasa for property management, AirDNA for market analysis since 2015, and BiggerPockets' network of Virginia-based investors. Additional local specialists include Chesapeake Bay Realty's investment division, Princess Anne Property Solutions established in 2020, and Virginia Coastal Investments which focuses specifically on short-term rental opportunities in the Virginia Beach metropolitan area.