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  1. #1

    Default Teahorse Hostel for sale in Harpers Ferry, WV

    We are currently open for business but are closing on Oct. 31 this year and looking to sell the building and contents to a new hostel owner. I started in 2011 and ran the business for 5 years and then my son Benjamin has run the Teahorse for the past 4 years. Anyone who has run a hostel and reached the time to pass it on to someone else knows the bittersweet feeling that Ben and I have. I can say that it has been the best of times. Meeting people is at the top of the list of rewards for running a hostel. Here is a description:

    Teahorse Hostel is a busy hostel within a short walk or ride from both the Appalachian Trail (1/2 mile) and C&O Towpath (1 1/2 miles). This turn-key opportunity has steady business from hikers, bicyclists, and tourists three seasons of the year. It provides a small private living space and a moderate income. As a business owner, you would be part of a vibrant trail community and the Harpers Ferry/Bolivar Merchants Association, and connected with hostel owners up and down the AT. For more information write to teahorsewv@yahoo.com or call Laurel at 304-702-7004.

    It is listed on Zillow.com:

    https://www.zillow.com/homedetails/1...05303998_zpid/


  2. #2

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    One of the AT hostels that hikers have raved about for years. They always comment on its cleanliness and the waffle breakfasts!!!
    Order your copy of the Appalachian Trail Passport at www.ATPassport.com

    Green Mountain House Hostel
    Manchester Center, VT

    http://www.greenmountainhouse.net

  3. #3
    Registered User ldsailor's Avatar
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    Nice place. I stayed there a couple of times. According to Zillow the price seems high, but I guess the difference is the business you are buying.
    Trail Name - Slapshot
    "One step at a time."
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  4. #4

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    Quote Originally Posted by ldsailor View Post
    Nice place. I stayed there a couple of times. According to Zillow the price seems high, but I guess the difference is the business you are buying.
    319K. Lets guess a 7 month season with an average 50% occupancy rate. I think they have 10 bunks at $30 a night. That would be about a 32K a year income.

    With 20% down and a 30 year mortgage, payments would be about $1,500, the exact about depends on what the property taxes and insurance rates are. Figure another 300 for utilities and now you need about 2K a month to break even. If my 32K estimate in anywhere right, that would leave about $7K for you to live on. I suppose you could live on that, even in HF. Of course, this is all speculation on my part, so you'd have try and get a look at the books to find out for sure.

    However, if one is retired and need a place to live anyway, this could be a way to make a supplemental income which while it may not cover all expenses, it would put a big dent in them. Even better if you have a home you can sell for a decent profit to roll over into this one to significantly reduce the mortgage payments.

    It is a well established hostel with a following, so that's a plus. All you need to do is maintain it's reputation. And enjoy washing lots of sheets and towels.
    The AT - It has it's ups and downs...

  5. #5

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    Quote Originally Posted by ldsailor View Post
    Nice place. I stayed there a couple of times. According to Zillow the price seems high, but I guess the difference is the business you are buying.
    that would have to be a pretty robust business to add that much value. and you would need to see the business returns at that price. simply put, anyone buying it as "only a house" (ie traditional financing) they won't be able to finance that.
    https://tinyurl.com/MyFDresults

    A vigorous five-mile walk will do more good for an unhappy but otherwise healthy adult than all the medicine and psychology in the world. ~Paul Dudley White

  6. #6

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    Quote Originally Posted by Slo-go'en View Post
    319K. Lets guess a 7 month season with an average 50% occupancy rate. I think they have 10 bunks at $30 a night. That would be about a 32K a year income.

    With 20% down and a 30 year mortgage, payments would be about $1,500, the exact about depends on what the property taxes and insurance rates are. Figure another 300 for utilities and now you need about 2K a month to break even. If my 32K estimate in anywhere right, that would leave about $7K for you to live on. I suppose you could live on that, even in HF. Of course, this is all speculation on my part, so you'd have try and get a look at the books to find out for sure.

    However, if one is retired and need a place to live anyway, this could be a way to make a supplemental income which while it may not cover all expenses, it would put a big dent in them. Even better if you have a home you can sell for a decent profit to roll over into this one to significantly reduce the mortgage payments.
    It is a well established hostel with a following, so that's a plus. All you need to do is maintain it's reputation. And enjoy washing lots of sheets and towels.
    That's just 1 scenario at the top. I agree with your last paragraph. Many scenarios
    It's unclear exactly how much of a premium is being added to the property since we don't know the appraised value as a house, and aren't likely real estate professionals from that area.

    Most hostel owners I've known haven't really expected to make a living off of that alone and also cover 80% of a mortgage. Some are later and life and are downsizing from a city property and buy it outright; some pay more than that down and do some other part-time work (shuttles, etc); some have one person working full-time. etc etc

    I stayed there 1 night. Seemed to be a pretty busy spot, and I thought it was a decent hostel.

  7. #7
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    Quote Originally Posted by Slo-go'en View Post
    319K. Lets guess a 7 month season with an average 50% occupancy rate. I think they have 10 bunks at $30 a night. That would be about a 32K a year income.

    With 20% down and a 30 year mortgage, payments would be about $1,500, the exact about depends on what the property taxes and insurance rates are. Figure another 300 for utilities and now you need about 2K a month to break even. If my 32K estimate in anywhere right, that would leave about $7K for you to live on. I suppose you could live on that, even in HF. Of course, this is all speculation on my part, so you'd have try and get a look at the books to find out for sure.

    However, if one is retired and need a place to live anyway, this could be a way to make a supplemental income which while it may not cover all expenses, it would put a big dent in them. Even better if you have a home you can sell for a decent profit to roll over into this one to significantly reduce the mortgage payments.

    It is a well established hostel with a following, so that's a plus. All you need to do is maintain it's reputation. And enjoy washing lots of sheets and towels.
    I didn't run the numbers but it appears at first glance that in your calculations taking in those hikers didn't incur any expenses, you counted them all as pure gravy. I doubt that is the case IRL.

  8. #8

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    Quote Originally Posted by Starchild View Post
    I didn't run the numbers but it appears at first glance that in your calculations taking in those hikers didn't incur any expenses, you counted them all as pure gravy. I doubt that is the case IRL.
    Yea, there is overhead. TP, soap, pancake mix, internet and lots and lots of hot water. If the town charges for water/sewage usage, that could add up too. Don't forget credit card fees.

    For the right person, this could work out, but finding that right person...
    The AT - It has it's ups and downs...

  9. #9
    Registered User ScottTrip's Avatar
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    Stayed there on my hike in 2014 very clean and friendly.

  10. #10
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    One of the nicest hostels I've stayed at, anywhere. Hope it gets a good new owner.

  11. #11

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    This was the very first Hostel Snacktime, Strife and I stayed at on our first AT adventure. It will be sad knowing you're not around Laurel, even by proxy (Ben). We never did manage that hike together......sigh....but thanks for the stay, the shuttles, the bail-outs, and the chats.
    ...the maddest of all is to see life as it is, and not as it should be. Cervantes

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    Or, you can buy the restaurant down the street. https://www.zillow.com/homedetails/1...3452580_zpid/? Teahorse having the proper zoning increases its value over a strictly residential use.
    Let no one be deluded that a knowledge of the path can substitute for putting one foot in front of the other.
    óM. C. Richards

  13. #13
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    Running a hiker's hostel is a labor of love, and often under-appreciated. This is a great hostel. I hope they find the right person.

  14. #14
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    Harpers Ferry really is an ideal place for someone to make a go of it, with the AT and C&O right there and a train to DC available. I’m sure the economics are hard no matter what, but that location is great. I can see how someone who wants to live downstairs and use upstairs as a hostel could make it work. Maybe an early retiree...

    Just thinking about this makes me miss the AT in VA/WV especially this time of year.

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    I had a really great stay earlier this year. I hope it stays in business somehow.

  16. #16
    Thru-hiker 2013 NoBo CarlZ993's Avatar
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    Really nice hostel. Stayed there 2 nights in 2013. Hope it continues to have a future.
    2013 AT Thru-hike: 3/21 to 8/19
    Schedule: https://docs.google.com/spreadsheets...t1M/edit#gid=0

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