The Turn-Key STR That Sold Before It Ever Hit the Market — Gilbert, AZ Case Study

by Eric Ravenscroft

 

A 5-year Airbnb business in one of Gilbert's only STR-permitted communities sold at full price with zero concessions — during the Coming Soon period, before it ever went live in the MLS. Here's the full strategy behind the result, why 100% bonus depreciation is driving intense investor demand for turn-key STRs in 2026, and what every STR owner considering a sale needs to understand before they list.
 
 
🏆 Client Win · Case Study

The Turn-Key STR That Sold Before It Ever Hit the Market

How a 5-year Airbnb business in one of Gilbert’s only STR-permitted communities sold at full price with zero concessions — during the Coming Soon period — and what it means for investors chasing 100% bonus depreciation in 2026.

Full PriceSale outcome
$0Concessions
Coming SoonWhen it sold
4.94★Airbnb rating
📍 1335 E Horseshoe Ave, Gilbert, AZ 85296👤 Eric Ravenscroft, CRS — The Ravenscroft Group📅 Published May 2026Seller Representation STR Investment Pre-Market Sale

A Successful STR Business, Ready for Its Next Owner

After nearly five years of building a thriving short-term rental business, my sellers were ready to move on. These were Colorado-based owners who had created something genuinely impressive — a fully operational, income-producing vacation rental with a 4.94-star Guest Favorite rating on Airbnb and a resort-style backyard that stopped guests mid-scroll every single time.

Life changes were pointing them toward new ventures. The business was performing. The asset was pristine. And the timing couldn’t have been better — because the buyer pool for exactly this type of property had never been more motivated.

Exterior front elevation 1335 E Horseshoe Ave Gilbert AZ STR for sale
Resort pool with waterslide short-term rental Gilbert Arizona Outdoor kitchen backyard vacation rental Gilbert AZ

1335 E Horseshoe Ave — front elevation, resort pool with waterslide, and outdoor kitchen. Gilbert, AZ 85296.

“This wasn’t a house being dressed up for sale. It was a proven operating enterprise with five years of documented performance — and that distinction changed everything about how we positioned it.”

What Made 1335 E Horseshoe the Real Deal

$120K+Annual revenue potential
7Functional booking rooms
$200K+Est. first-year depreciation
Configuration
5 beds + loft + bonus/game room = 7 functional rooms
Backyard
Resort pool, waterslide, waterfall grotto, outdoor kitchen
STR Track Record
4.94★ Guest Favorite · Nearly 5 years operating
Garage
3-car garage · North/South exposure
STR Status
Fully permitted · No rental restrictions · HOA approved
Location
Minutes from Heritage District · High-demand Gilbert market
Primary bedroom short-term rental 1335 E Horseshoe Gilbert AZ Game room bonus room STR investment property Gilbert Arizona Open kitchen living area Airbnb rental Gilbert AZ

Primary suite, game/bonus room, and chef’s kitchen — 7 functional booking rooms across 5 bedrooms, a loft, and a bonus room.

Why This Property Had Rare Market Positioning

One of the only STR-permitted communities in Gilbert

Gilbert has tightened its stance on short-term rentals significantly. Most HOA communities either prohibit them outright or layer on restrictions that make legitimate STR operation difficult or impossible. This neighborhood is one of a small handful in Gilbert that explicitly allows STRs with no rental restrictions.

For buyers specifically hunting for a permitted, operating STR in the East Valley, the inventory is genuinely thin. That scarcity drives demand — and demand creates pricing power for the seller.

Seven rooms, not four

Most competing STR properties in the East Valley are standard 4-bedroom pool homes. The 5 bedrooms, loft, and bonus/game room create 7 distinct bookable spaces — a meaningful edge in nightly rate optimization, occupancy, and group demographics.

The backyard was the scroll-stopper

Guests don’t book amenities — they book photographs. The resort-style pool with waterslide, waterfall, and grotto is the visual anchor that drives bookings on Airbnb and VRBO. Properties like this command premium nightly rates of $400–$750+ depending on season and generate repeat bookings year after year.

Pool grotto waterfall vacation rental backyard Gilbert AZ Grand entryway short-term rental 1335 E Horseshoe Gilbert AZ Loft additional game room STR investment property Gilbert Arizona

Resort pool and waterslide, grand entryway, and loft/bonus game room — the amenity stack that drove 4.94-star ratings and premium nightly rates year after year.

Why Investors Are Racing to Find Turn-Key STRs Right Now

To understand why 1335 E Horseshoe generated so much immediate, serious attention, you have to understand one tax rule that’s reshaping how sophisticated investors look at real estate in 2025 and 2026.

💡 100% Bonus Depreciation — Explained in Plain English
1
What is bonus depreciation? A tax rule that lets investors deduct a large portion of a property’s value against their income — not spread over 27.5 years, but accelerated into a single year through cost segregation. For a high-income earner, this can translate to hundreds of thousands of dollars in deductions the same year they close.
2
Why it’s back at 100%. Bonus depreciation had been phasing down — from 100% to 80%, then 60%, then 40%. As of 2025, it’s been fully restored to 100%, meaning qualified investors can deduct the maximum allowable amount in year one. (IRS guidance ↗) That window is open right now.
3
Why STRs specifically unlock this strategy. With a standard long-term rental, IRS passive activity rules typically prevent investors from using depreciation losses to offset active income — W-2, business income, consulting fees. STRs are different. When the average guest stay is 7 days or fewer and the owner materially participates, those deductions can often directly offset active income — potentially eliminating tens of thousands in federal tax liability in year one.
4
Why “turn-key” commands a serious premium. Buyers pursuing this strategy need a property that’s already operating and permitted so they can close, engage a cost segregation specialist, and apply that first-year deduction in the same tax year they purchase. 1335 E Horseshoe checked every box.

This property carried an estimated $200,000+ in first-year bonus depreciation potential. For a buyer in a 37% federal tax bracket, that’s potentially $74,000+ in year-one tax savings — before the property generates a single dollar of rental income. That’s not a footnote. That’s the headline.

⚠ Legal & Tax Disclaimer: The bonus depreciation figures and tax savings estimates referenced in this post are for illustrative and educational purposes only and do not constitute tax, legal, or financial advice. Individual results vary significantly based on purchase price, cost segregation analysis, income level, filing status, material participation, and other factors. Eric Ravenscroft is a licensed real estate professional, not a CPA, tax attorney, or financial advisor. Always consult a qualified CPA or tax advisor before making investment decisions based on tax strategy. Nothing in this post should be construed as a guarantee of tax savings or investment returns. Past performance of this or any property is not indicative of future results.

The Strategy: Market the Business, Not the House

Most agents would have listed this as a beautiful Gilbert pool home. That would have been a mistake. The real value here wasn’t in the square footage — it was in the operating business, the documented performance, and the rare regulatory position. Our entire marketing approach was built around that.

We targeted investor buyers who understood STR income, knew what the bonus depreciation opportunity meant for their tax picture, and were actively searching for exactly this type of permitted, proven property in a supply-constrained market.

 
Positioned as a turn-key STR investment — not a home
Every word of the listing copy, every photo angle, every data point was built around the investor buyer. Revenue potential, nightly rate ranges, booking history, STR permit status — all front and center before square footage or bedroom count.
 
Bonus depreciation angle woven into the narrative
The $200K+ first-year deduction potential was part of the listing story — attracting the exact buyer profile that would move quickly and pay full price.
 
Listed as Coming Soon to generate pre-market urgency
Rather than launching immediately into the MLS, we used the Coming Soon period strategically to build anticipation and create real scarcity around one of Gilbert’s only permitted, operating STRs.
 
Full-price offer received — property never went live
Full price. Zero concessions. Clean offer. The property never needed to go public in the MLS — a direct result of deliberate positioning from day one.

The Outcome

🏆 Outcome Summary — 1335 E Horseshoe Ave
Sale priceFull asking price
ConcessionsNone — $0
Days on MLSNever went live
Time to contractDuring Coming Soon period
Seller experienceClean, zero-friction close
Buyer day-one upsidePermitted STR + $200K+ deduction

For the sellers, this was the ideal exit — maximum proceeds, no price reductions, and a clean close. For the buyers, they acquired one of the only permitted, operating STRs available in Gilbert, with a proven track record and significant first-year tax advantages waiting on day one.

What Clients Say

★★★★★

“Eric was such a wealth of knowledge, and provided fantastic insight into the process, while helping us navigate a tricky closing with amazing professionalism!! We highly recommend Eric!!”

JJ
Jeff Jackson
STR Seller · Gilbert, AZ
★★★★★

“Eric is an excellent Realtor. He combines a high level of expertise with a vision that showcases the potential of what is possible for the property. His work ethic and connections are amazing. Our home was under contract within 6 days of being on the market. I highly recommend Eric Ravenscroft!”

LH
Lisa Howe
Home Seller · East Valley, AZ

What STR Owners Should Take Away From This

Your operating history is a premium selling tool. Years of booking data, guest reviews, and documented revenue aren’t background noise — they’re proof of concept that sophisticated investors will pay more for. Start documenting everything now.
STR-permitted zoning is increasingly rare and increasingly valuable. If your property sits in one of the few Gilbert communities that allows STRs without restriction, that zoning status belongs front and center in your marketing.
The 100% bonus depreciation window is open — and motivated buyers know it. High-income investors are actively hunting turn-key STRs specifically because of the first-year deduction opportunity. A well-positioned, permitted property will attract faster, stronger offers in any market condition.
Presentation matters even for investment properties. Investor buyers respond emotionally to properties that look and feel exceptional. The sellers’ effort to present this home at its absolute best directly contributed to the quality and speed of the offer received.
Coming Soon is a deliberate strategy — not a formality. Used correctly, the pre-market period creates the scarcity and urgency that produces full-price, pre-market offers from exactly the right buyer. That’s not luck — it’s positioning.

STR Investing in Gilbert — Common Questions

Q
Can you buy a short-term rental in Gilbert, AZ in 2025?
Yes — but permitted communities are rare. Most HOAs in Gilbert restrict or prohibit STRs outright. Only a handful of neighborhoods allow short-term rentals without rental restrictions, making permitted properties highly sought after and commanding a meaningful premium over comparable homes in restricted communities.
Q
How does 100% bonus depreciation work for short-term rental investors in 2026?
Bonus depreciation, restored to 100% in 2025, allows qualified investors to deduct a large portion of a property’s value in the first year through a cost segregation study. For STRs where the average stay is 7 days or fewer and the owner materially participates, these deductions can often offset active income like W-2 earnings or business income — unlike long-term rentals which face passive activity loss limitations. Consult your CPA to evaluate your specific situation.
Q
What makes a short-term rental “turn-key” and why does it command a premium?
A turn-key STR is already operating, permitted, and generating documented revenue. Investors pursuing the bonus depreciation strategy prize these because they can acquire them, immediately engage a cost segregation specialist, and apply first-year deductions in the same tax year they close — with no ramp-up period and no uncertainty about income-producing capability.
Q
What is a Coming Soon listing and how does it benefit STR sellers?
A Coming Soon listing is a pre-market period where a property is marketed to buyers before officially launching in the MLS. Used strategically for a high-demand asset like a permitted STR, it creates scarcity and urgency that can generate full-price offers before the property ever goes public — exactly what happened at 1335 E Horseshoe.
Q
How do I find out if my Gilbert property is in an STR-permitted community?
STR permitting in Gilbert depends on both city regulations and HOA governing documents. The answer requires reviewing CC&Rs alongside current municipal short-term rental ordinances. Eric Ravenscroft and The Ravenscroft Group specialize in exactly this research — reach out for a complimentary STR compliance review for your property.
Eric Ravenscroft, REALTOR CRS — The Ravenscroft Group
Eric Ravenscroft
REALTOR® · CRS · The Ravenscroft Group at Real Broker · AZ Lic. #SA691304000
CRSREALTOR®STR SpecialistEast Valley Expert

Eric Ravenscroft is a Certified Residential Specialist (CRS) and the founder of The Ravenscroft Group at Real Broker — one of the East Valley’s most trusted teams for buyers, sellers, and investors navigating the Arizona real estate market. Licensed in Arizona (Lic. #SA691304000), Eric brings over a decade of experience to every transaction.

What sets Eric apart is the depth of background he brings to every transaction. Before building his real estate career, Eric developed expertise in financial planning and tax strategy — giving him a rare ability to see real estate not just as property, but as a wealth-building vehicle. His investor clients get a strategic partner who understands how depreciation, cost segregation, 1031 exchanges, and portfolio positioning interact with their broader financial picture.

Eric has worked extensively with short-term rental investors across the Phoenix Metro — helping clients identify STR-permitted properties, evaluate revenue potential, structure listings for maximum investor appeal, and execute clean exits when it’s time to sell.

STR Acquisition & Disposition
Investment Strategy & Analysis
Tax & Financial Planning Background
CRS — Top 3% of REALTORS® Nationally
East Valley & Phoenix Metro Expert
Buyer, Seller & Investor Representation

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Ready to Make Your STR Work Harder for You?

Whether you own a short-term rental and are weighing your exit strategy, or you’re an investor searching for a turn-key STR in the Phoenix Metro — let’s build the right plan. Eric brings the real estate expertise, investment strategy background, and STR market knowledge to position you for the best possible outcome.

Eric Ravenscroft

About the Author

 

Eric Ravenscroft is a Top 1% REALTOR® across North America and one of Arizona’s most trusted real estate strategists. With 15 years of experience spanning real estate, wealth management, and investment planning, he helps clients make smarter, financially grounded decisions, from new construction and relocations to STR investments, 1031 exchanges, and long-term portfolio strategy.

 

Eric’s expertise has earned him industry recognition, Elite status with Real Broker, and features in major publications including the Wall Street Journal, MarketWatch, MSN, and Morningstar. Clients across the Greater Phoenix Metro rely on his clarity, strategic insight, and results-driven guidance.

 

Ready to make a confident real estate move? Call or text Eric today.

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