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View PropertiesAs of Apr, 27 2026
Rabbu ROI Score
Olga presents a competitive opportunity: investor interest and demand are strong, but higher prices or tighter competition may require more selective deal sourcing.
Olga, WA — a small community on Orcas Island in the San Juan Islands — is a niche short-term rental market with just 17 active Airbnb listings and pronounced summer seasonality. Average annual revenue sits at $43,889, driven by a dramatic peak season where August bookings can generate over $7,500 per listing. With average home values near $1.67 million, the revenue-to-price ratio is tight, making deal selection critical for investors eyeing this scenic Pacific Northwest destination.
According to Rabbu market data, the Olga short-term rental market shows:
| Metric | Context | Value |
|---|---|---|
| Active Airbnb Listings | As of Apr, 27 2026 | 17 |
| Average Daily Rate (ADR) | vs. $393 state avg. | $315 |
| Average Occupancy Rate | vs. 36% state avg. | 21% |
| RevPAN | ADR * Occupancy Rate | $64 |
| Average Monthly Revenue | Historical 12-month average | $3,657 |
| Average Annual Revenue | Historical 12-month average | $43,889 |
Data sources: Rabbu proprietary analytics as of Apr, 27 2026 and Zillow Home Value Index (ZHVI) as of Apr, 27 2026.
Investors are drawn to Olga for its exclusive island setting and limited supply, though premium property prices demand careful underwriting to ensure returns.
Key investment factors
"Olga represents a competitive opportunity where the appeal is clear but the math requires precision. The island's natural beauty and limited inventory create genuine scarcity value, yet average home prices near $1.67 million paired with $43,889 in annual revenue yield a below-average revenue-to-price ratio. Seasonality is extreme — August revenue ($7,575) is nearly five times January's ($1,600) — so cash reserves for the off-season are essential. Investors who can secure properties at favorable entry points and optimize summer pricing stand the best chance of generating meaningful returns in this boutique market."
— Rabbu Market Analysis Team
Olga's seasonality is extreme: August leads at $7,575 in average revenue while January bottoms out at $1,600 — a nearly 5x spread. The lucrative window from June through September accounts for the bulk of annual earnings, making summer pricing optimization critical for investors.
| Month | Trend | Revenue |
|---|---|---|
| January |
|
$1,600 |
| February |
|
$1,746 |
| March |
|
$2,361 |
| April |
|
$2,887 |
| May |
|
$3,822 |
| June |
|
$4,905 |
| July |
|
$7,041 |
| August |
|
$7,575 |
| September |
|
$5,002 |
| October |
|
$2,852 |
| November |
|
$2,152 |
| December |
|
$1,941 |
The market's 17 listings are concentrated in just two size categories: 1-bedroom units (8 listings) and 3-bedroom properties (5 listings). The absence of 2-bedroom, 4-bedroom, or larger configurations could signal an opportunity for investors willing to offer differentiated property types.
| Size | Trend | Value |
|---|---|---|
| 1 bedroom |
|
8 |
| 3 bedrooms |
|
5 |
ADR increases modestly from $235 for 1-bedroom listings to $280 for 3-bedroom properties, a 19% premium for roughly triple the space. This compressed rate spread suggests that 1-bedroom units may offer a more favorable rate-per-bedroom ratio for budget-conscious investors.
| Size | Trend | Value |
|---|---|---|
| 1 bedroom |
|
$235 |
| 3 bedrooms |
|
$280 |
One-bedroom listings deliver a RevPAN of $53 compared to just $25 for 3-bedroom properties, meaning smaller units generate more than double the revenue per available night. This stark gap is driven primarily by significantly higher occupancy rates for 1-bedroom listings.
| Size | Trend | Value |
|---|---|---|
| 1 bedroom |
|
$53 |
| 3 bedrooms |
|
$25 |
One-bedroom listings maintain 23% occupancy versus just 9% for 3-bedroom properties, indicating that smaller units stay booked far more consistently. The low occupancy for larger homes suggests they may serve as occasional-use vacation properties rather than high-frequency rentals.
| Size | Trend | Value |
|---|---|---|
| 1 bedroom |
|
23% |
| 3 bedrooms |
|
9% |
Despite the occupancy gap, monthly revenue is surprisingly close — $3,638 for 1-bedroom and $3,828 for 3-bedroom listings — because larger properties compensate with higher nightly rates during their fewer bookings. For investors, this means 1-bedrooms achieve similar revenue at lower acquisition and operating costs.
| Size | Trend | Value |
|---|---|---|
| 1 bedroom |
|
$3,638 |
| 3 bedrooms |
|
$3,828 |
Annual revenue ranges from $43,660 for 1-bedroom units to $45,938 for 3-bedroom properties, a difference of only about $2,300. Given the substantially lower purchase price likely associated with smaller properties, 1-bedroom listings may present a stronger return-on-investment profile in this market.
| Size | Trend | Value |
|---|---|---|
| 1 bedroom |
|
$43,660 |
| 3 bedrooms |
|
$45,938 |
Every listing in Olga offers parking and a kitchen (100%), while patios or balconies (88%) and self check-in (71%) are near-universal. Outdoor-oriented amenities like BBQ grills (53%), backyards (53%), and waterfront access (35%) signal that guests expect a nature-immersive island experience — investors should prioritize these features to remain competitive.
| Amenity | Trend | Value |
|---|---|---|
| Parking |
|
100% |
| Kitchen |
|
100% |
| Patio or Balcony |
|
88% |
| Self Check-in |
|
71% |
| Washer |
|
65% |
| Outdoor Furniture |
|
59% |
| BBQ Grill |
|
53% |
| Backyard |
|
53% |
| Dryer |
|
41% |
| Hot Tub |
|
35% |
| Waterfront |
|
35% |
| Workspace |
|
35% |
| Beach Access |
|
29% |
| Pets |
|
29% |
Rabbu's ROI Score is a proprietary metric that evaluates short-term rental investment potential based on multiple factors.
| Factor | Olga Performance | Weight |
|---|---|---|
| Revenue-to-Price Ratio | Below average | 40% |
| Occupancy Stability | Average | 30% |
| Market Growth Trend | Above average | 15% |
| Supply/Demand Balance | Above average | 15% |
Olga's ROI Score of 47 out of 100 places it in the Competitive Opportunity band, signaling that while demand and growth are real, the economics require careful selection. The below-average revenue-to-price ratio — driven by home values near $1.67 million against roughly $44K in annual revenue — is the primary drag, while above-average marks for market growth and supply/demand balance provide upside potential. Pairing this data with thorough local regulatory research and conservative underwriting will help investors determine whether a specific Olga property can deliver the returns they need.
Understanding local STR regulations is essential before investing in Olga. Here's the current regulatory landscape:
Short-term rental operators in Olga and San Juan County, Washington may need to obtain permits or register their properties with the county. Investors should verify current STR permit requirements with San Juan County's planning and community development office before listing.
Common restrictions in island and rural Washington communities can include occupancy limits, minimum stay requirements, noise and parking regulations, and potential caps on the number of permitted rentals. HOA covenants may also apply depending on the property, and investors should review any neighborhood-specific rules before purchasing.
Washington State imposes lodging taxes on short-term rentals, and San Juan County may levy additional local taxes. Platforms like Airbnb often collect and remit state and local taxes automatically, but hosts should confirm their full tax obligations with a local tax advisor.
Regulations subject to change. Always verify with local authorities before purchasing. A Rabbu partner agent specializing in Olga can provide current regulatory guidance.
Financing an Airbnb investment in Olga requires lenders who understand STR income. Rabbu partner lenders offer:
"Over the next 12–18 months, Olga's STR market is expected to continue benefiting from above-average growth trends and favorable supply-demand dynamics in the San Juan Islands. Summer months (June through September) will likely remain the revenue engine, with peak-month earnings potentially climbing 2–5% as island tourism demand stays strong. However, the extended off-season from November through March, where monthly revenue dips below $2,200, means investors should plan for lean winter cash flow. Occupancy may hover around 20–25% on an annualized basis, so pricing strategy during peak windows will be essential."
— Rabbu Market Analysis Team
Rabbu provides Airbnb and short-term rental market data and statistics across the United States. Our mission is to empower investors with accurate insights and easy-to-use tools, so they can confidently identify and act on the best opportunities in the Airbnb market.
Rabbu proprietary analytics as of Apr, 27 2026 and Zillow Home Value Index (ZHVI) as of Apr, 27 2026. Revenue projections are estimates based on comparable properties and do not guarantee future performance. Data reflects trailing 12-month averages and may not capture very recent market shifts. Local regulations, permit requirements, and tax obligations can change; investors should verify current rules with San Juan County authorities before purchasing.
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