This abandoned wagon turned Airbnb brings in up to $110,000 a year

In 2020 Isaac French, 27, and his family purchased a wagon that was sitting abandoned on a neighbor’s farm in Deary, Idaho. They only paid $3,000.

Train number 306 was built in 1900. and originally ran on the Washington Idaho & Montana Railroad since 1909. until 1950 When the family got their hands on it, the wood was rotting, algae was growing and about 20 cats were living inside, French told CNBC Make It.

“(My dad) had the faith and the vision for it, and I’m so glad he did it,” he says. “There’s something so rewarding about taking an old structure that’s been built with so much love and bringing it back to life.”

The family took out a $150,000 loan, including $3,000 to buy the wagon and $10,000 to move the 61-foot-long structure onto their 145-acre property.

“It’s just a beautiful, secluded place in nature,” French says. “We chose the highest point on our property so we could capture these epic views.”

French and his family spent the remainder of the loan, $137,000, and six months renovating the structure to turn it into an Airbnb.

“I believe travelers today are looking for experiences and you want to have a story. The richer story you can tell through a stay, through a property, the better the experience will be,” he says.

The French family didn’t put the wagon on Airbnb just because they wanted to make some money, but because it was a passion project.

“We just felt it was the right thing to do. It excites us, and we think it will excite other people,” says French.

The renovation included converting the old passenger room into a sitting area and the mail room into a bedroom. “Our guests really like it,” says French.

“They wake up in the morning and look straight at these beautiful panoramic views of the countryside. It’s a truly epic place to sleep.”

They also added a kitchenette with a gas stove and a bathroom, repaired the floors and furniture.

Guests also have access to a mirror sauna, hot tub and fire pit right on the grounds.

“The idea is to reflect the surrounding nature,” says French. “Since we had these beautiful pine trees and this amazing view, we thought it would be a great juxtaposition of new and old.”

When French opened Airbnb bookings, it was an instant success. Within the first week, the restored wagon from 1909 was booked for several months. Stays range from $325 to $350 per night.

“I think all of our dreams were surpassed with his adoption and how much fun it was for us to do it as a family,” French says. “It was rewarding to see all that hard work and that investment validated so quickly.”

In its first year, the wagon had 90% occupancy and $14,179 in revenue. Since then, earnings have increased to between $75,000 and $110,000 a year, according to documents reviewed by CNBC Make It.

In 2024 the wagon generated $110,172 in Airbnb revenue and was booked for 140 nights on the platform.

It has a profit margin of about 65%, with 30 to 35% of total revenue going to cleaning costs, ongoing minor maintenance and repairs, property taxes and insurance.

In addition to Airbnb, French and his family accept reservations for the wagon online. “We can have more of a relationship with the guests,” French says. “With Airbnb, it feels more like a transaction, whereas (booking direct) allows for more relationships that we can build.”

Despite the popularity, French says they don’t plan to raise the price of the night any time soon. They find it satisfying to host people from all over the world who want to touch a piece of history.

“Our best hosting experience has been the thanks that almost every other guest sends us for taking care of this piece of history,” French’s father, Webb, tells CNBC Make It.

French says that with the earnings from the wagon, they recently paid off the loan they took out to finance the wagon project.

Instead of paying for it themselves, the family invests the money in the carriage and the overall guest experience. “It’s hard to overstate how hungry the general public is for one-of-a-kind stays, and recovery forecasts are one of the best ways to get there,” says French.

“Even if you don’t have experience in restoration or hospitality, if you have a passion for welcoming other people, making them happy, surprising them, then you can create one of these, because that’s what hospitality is all about.”

French’s best advice for those looking to emulate what he and his family have done with this rental property is to open their eyes and make connections: “There’s a lot of opportunity right below the people that they even they don’t realize because they’ve always been there and they’re outside the box.”

He says “talk to your neighbor. Your neighbor might be the person to partner with if you don’t have the money or if you don’t have the experience that your neighbor could.”

Although the 1909 wagon is quite a unique family find, French advises that you just never know what’s out there and what you might feel creatively drawn to: “How many old buildings and old stories and old wagons are just sitting there waiting to be discovered and loved?”

“I think that’s the key,” he says. “You have to have a little love and a little inspiration to take on a project like this and breathe new life into it.”

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