This Virginia Resort Destination Is One of the Best Places to Buy a Ski House — and It's Next to a National Park

Convenient location and year-round outdoor recreation make buying a home in this area an excellent investment.

For winter sports enthusiasts, there's nothing quite like waking up in the mountains to a fresh layer of snow outside. And if last year is any indication — the National Ski Areas Association reported record visitor numbers at U.S. ski areas — owning a ski vacation home has one more benefit than offering convenient access to the slopes, and that's making you tens of thousands of dollars in rental revenue. And your initial investment doesn't even have to run in the millions. In fact, it can be less than $350,000.

According to rental management company Evolve's latest report on the best destinations to invest in a ski property, Virginia's Shenandoah Valley is the second-best spot to consider if you plan to become a second homeowner. The company's data show that with a cap rate of 8.6 percent, a home in the region, which is nestled between the Blue Ridge Mountains and the Allegheny Mountains, you could add close to $40,000 a year in rental income.

Best of all? After analyzing data from Zillow and Redfin, Evolve estimates the median listing price of homes in the area to be around $320,000.

"Over the last year, the Shenandoah Valley has seen a consistent cap rate (your annual net operating income divided by a property's market value), indicating ongoing performance strength investors can capitalize on," the report states. Evolve also suggests house hunting in the towns of McGaheysville, Massanutten, and Elkton "for the most promising profit potential," and adds that all three communities are in Rockingham County, which has rental-friendly regulations.

Another common feature of all three towns? All are less than 15 minutes away from Massanutten Resort, a 6,000-acre four-season playground for visitors of all ages with 1,110 feet of vertical terrain, the most out of any other resort in Virginia, Pennsylvania, or Maryland. The resort is located at 2,922 feet of elevation and has seven lifts, 82 acres worth of skiable terrain, and 14 trails — all available for night skiing. The trails are divided more or less equally according to difficulty level (beginner, intermediate, and advanced), so the resort area attracts skiers of all levels. Massanutten Resort also has plenty of other amenities that cater to winter visitors who don't ski.

The resort's snow tubing facilities within the Family Adventure Park are popular among families and passes regularly sell out. An ice skating ring is also available. The full-service spa and an indoor water park are perfect for those who don't want to brave the elements outside. Massanutten regularly welcomes out-of-state visitors, too, since it is located within an hour of two domestic airports and two hours from Dulles International Airport.

"Many buyers have noted the local market growth over the years and have paid attention to what draws visitors, seeing the potential to invest and earn income," Kathleen Kellett-Ward, a real estate agent with Long & Foster/Luxury Portfolio International, told Travel + Leisure, noting that many invest in areas around Massanutten Resort, which is a four-season destination.

Kellett-Ward added that Wintergreen Resort, located further south, is another winter destination in Shenandoah Valley. The resort, about a two-hour drive from Virginia's capital, Richmond, and an hour from Charlottesville, encompasses 11,000 acres in the Blue Ridge Mountains. It treats its winter visitors to a terrain park with over 40 features, tubing, five lifts, and 24 trails.

And, of course, another main attraction here is Shenandoah National Park, with over 519 miles of hiking trails, 70 overlooks, and the spectacular Skyline Drive, a 105-mile road that runs along the crest of the Blue Ridge Mountains.

"Winter is the Shenandoah Valley's prime tourist time. People come to enjoy the amazing snow-tipped mountain views, the crystal-clear star-filled skies, sightseeing from the less populated overlooks, and taking advantage of a brisk hike while enjoying the beauty of iced-over waterfalls sited along the way," Kellett-Ward explained, adding that the number of for-sale properties around Wintergreen Resort currently exceed those in the Massanutten area.

Evolve's report also suggests that homes within minutes of a ski resort can bring in twice the median yearly rental income. Those are usually larger homes, suited for families, that go the extra mile in terms of amenities and offer slope views, game rooms, and winter gear storage spaces.

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