New York

Why physicians are looking at Lake George

Lake George is the Adirondacks' marquee summer resort, and its economics are refreshingly legible: a powerful peak season drives $285/night rates and fills the calendar to 65% annualized occupancy. Concentrated seasonality is not a flaw here — it is the model. For physician investors who underwrite it honestly, a proven resort brand with decades of repeat-visitor tradition offers something the emerging STR towns cannot: demand you do not have to hope into existence.

The numbers, interpreted

The panel: $285/night ADR, 65% occupancy, $185 RevPAR, roughly $5,558/mo gross revenue against a $385,000 basis. Underwrite as a hospitality business and respect the shape of the curve — summer carries the year, so the annual number only holds if you win the peak. Model net after management, cleaning, and furnishing reserves, and stress-test a weak-summer scenario. Within New York's STR set, Saratoga Springs posts the same $285/night on a $485,000 basis with an event-driven August spike, while the Catskills trade at $215/night on the same $385,000 basis. Lake George is the strongest revenue-per-dollar position of the three.

Costs and rules to underwrite

New York's 1.65% property tax rate is a real line at this basis: roughly $6,400/yr on a $385,000 property. Regulation requires double diligence — the state's STR posture is strict and local rules are moderate — so verify local short-term-rental permitting, zoning, and caps before closing. Winterization and off-season carrying costs belong in the model too; the lake does not book many February weekends.

Building your local team in Lake George

Peak season is an on-call month that never ends — and the answer is the same one you use at the hospital: hand the 2 a.m. pages to a professional team, because in July a same-day fix is the difference between a five-star review and a refund. That team will make or break the investment. You want STR management with proven Lake George summer logistics, an investor-focused realtor who knows lakefront premium from lake-adjacent markup, and furnishing capital treated as revenue equipment. When guests compare a dozen listings side by side, themed properties and standout amenities tip the decision — memorable out-earns generic every summer. Dr Home Investor introduces you to vetted local team members, including a Realtor match with boots on the ground, instead of a blind Google search through a resort town's vendor noise.

Bottom line

Lake George is New York's strongest ranked STR value: $385,000 in, roughly $5,558/mo gross, and a proven Adirondack resort brand carrying the demand. It suits physicians who accept seasonal concentration, verify the local rules, and staff the peak properly. Win the summer and the year follows. Explore other New York markets to weigh it against the event-driven and metro-escape alternatives. Weighing vacation-rental income against your timeline to financial independence? See physician FIRE through real estate.