Yield
Cap rate and cash-on-cash carry the first pass. If the spread is not there, the market does not get rescued by good storytelling.
Demand
Demand score stands in for leasing velocity, occupancy support, and the likelihood that an STR second pass is even worth opening.
Execution difficulty
Insurance, permit friction, rehab sensitivity, and operating burden determine whether the market deserves an A, a B, or a watchlist stance.
Score bands
Score A
Strong yield plus demand support. The market deserves immediate underwriting time.
Score B
Workable if basis discipline stays tight. Underwrite, but do not assume perfect execution.
Score C
Only worth a look if a very specific operator edge exists or the basis is exceptional.
Linked actions
See LTR-first markets
Filter the heatmap toward markets where stabilized long-term rental underwriting is the cleanest path.
See STR-tilted markets
Focus the surface on markets where demand still justifies a short-stay second pass.
Review cash-on-cash math
Open the calculator behind one of the main yield signals used in the market score.