Historical Property Income Sources
Share
A discussion about the revenue potential of historical properties and famous homes, focusing on successful examples like Graceland and Mount Vernon.
Notable Historical Home Revenue Examples
-
Graceland (Elvis Presley's Home)
- 600,000 visitors annually
- $21 million in ticket sales alone
- $36 per ticket average
- Located in Memphis, relatively non-tourist area
-
Mount Vernon (George Washington's Home)
- $51 million total annual income
- $15 million from admission sales
- $17 million from food sales alone
- $10 million from contributions
-
Monticello (Thomas Jefferson's Home)
- 500,000 visitors annually
- $7-8 million in ticket sales
- Total revenue around $200 million (including investment revenue)
Alternative Revenue Models
- Luxury Rental Properties
- Example: Obama House
- Sells for $7 million
- Rents for $6,000 per night
- Potential $180,000 monthly revenue
- Bachelor party/special event venue potential
- Target sports fans
- Premium experience offerings
- Group accommodations
- Example: Obama House
Key Success Factors
-
Location matters
- Proximity to major airports/cities
- Michael Jordan's house is 20 minutes from Chicago airport
- Accessibility for tourists
-
Non-profit structure benefits
- Public financial records
- Ability to receive contributions
- Sustainable long-term model
-
Historical significance
- Properties maintain value over decades
- Continued interest from multiple generations
- Cultural importance drives sustained visitation
Sam Parr
Host of MFM and fitness influencer
Sam Parr is a serial entrepreneur and business media pioneer.
In 2016, he founded The Hustle, a business news media company that started in his kitchen with just $12 and grew to eight figures in revenue.
Sam led the charge in making newsletters popular when few believed in their potential.
After four successful years, he sold The Hustle to HubSpot, a publicly traded company. Now operating as HubSpot Media, The Hustle reaches 3 million readers daily, employs a team of nearly 100, and has been the launchpad for dozens of its staff to found their own media companies and newsletters.
Sam remains the host of the popular business podcast, My First Million, and continues to start and sell companies. He also co-founded Hampton, a highly vetted community for entrepreneurs, founders, and CEOs, and teaches people to write better through his platform, Copy That.