In 2020, Isaac French, 27, and his family bought a wagon that was sitting abandoned on a neighbor’s farm in Deary, Idaho. They only paid $3,000.
Wagon number 306 it was built in the 1900s and originally carried the Washington Idaho & Montana Railroad from 1909 to the 1950s. When the family got hold of it, the wood was rotting, algae was growing and about 20 cats were living inside, French tells CNBC Make It.
″[My dad] he 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 building that was built with so much love and breathing life back into it.”
The renovation and restoration of the abandoned wagon was a family project for French, his parents and siblings.
Isaac French
The family took out a $150,000 loan, including $3,000 to buy the wagon and $10,000 to move the 200-foot-long structure onto their 145-acre property.
“It’s just a beautiful, secluded place in nature,” says French. “We chose the highest point on our property to capture these epic views.”
French and his family spent the rest of the loan, $137,000, and six months renovating the building with the goal of turning it into an Airbnb.
“I believe that travelers today are looking for experiences and that you want to have a story. The richer the story you can tell through the stay, through the property, the better the experience will be,” he says.
French’s father saw the wagon for the first time on a neighbor’s farm.
Isaac French
The French family didn’t put the wagon on Airbnb just because they wanted to make money, but because it was a passion project.
“We felt this was the right thing. This is what 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 absolutely love it,” says French.
“They wake up in the morning and look straight at these beautiful panoramic views of nature. It’s a really epic place to sleep.”
They also added a kitchenette with a gas cooker and a bathroom, and renovated the floors and furniture.
The wagon is located on 145 hectares.
Mickey Todiwala. Photo by CNBC Make It
Guests also have access to a mirrored sauna, hot tub and fire pit on the grounds.
“The idea is to reflect the natural environment,” says French. “Since we had these beautiful pine trees and this spectacular view, we thought it would be a great blend of new and old.”
When French opened reservations on Airbnb, it was an instant success. Within the first week, Restored train car from 1909 was booked for several months. The stay ranges from 325 to 350 dollars per night.
“I think all of our dreams have been surpassed by the reception and how much fun we’ve had working as a family,” says French. “It was rewarding to see all that hard work and that investment validated so quickly.”
The family listed the wagon on Airbnb in 2020 and it has been booked ever since.
Mickey Todiwala. Photo by CNBC Make It
In the first year, the car had 90% occupancy and revenue of $14,179. Since then, the income has 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, ongoing minor maintenance and repairs, property taxes and insurance.
In addition to Airbnb, French and his family take reservations for the wagon online. “We can have a better relationship with guests,” says French. “With Airbnb it seems more like a transaction, whereas [the direct booking] it allows for more relationships that we can build.”
The wagon has a seating area, a kitchenette, a gas stove, a bathroom and a double bed.
Mickey Todiwala. Photo by CNBC Make It
Despite its popularity, French says he has no plans to raise nightly rates anytime soon. They are fulfilled by hosting people from all over who want to experience a piece of history.
“Our best hosting experience has been the thank you messages from almost every other guest for taking care of this piece of history,” French’s father, Webb, told CNBC Make It.
With the revenue from the railcar, French says they recently paid off a loan they took out to finance the railcar project.
Instead of paying for it themselves, the family invests money in the train car and the overall guest experience. “It’s hard to overstate how hungry the public is for unique, story-driven stays, and renovation screenings are one of the best ways to get here,” says French.
“Even if you don’t have a restaurant or hospitality background, if you have a passion to host other people, to delight them, to surprise them, then you can create one of these because that’s what hospitality is all about.”
A stay in the carriage includes access to a sauna with a mirror, a hot tub and a fireplace.
Mickey Todiwala. Photo by CNBC Make It
French’s best advice for those looking to emulate what he and his family did with this rental property is to open their eyes and make connections: “There’s a lot of opportunity right underneath people that they don’t even realize because they’ve always been there and outside the box .”
He says that “you talk to your neighbor. Your neighbor can be a person you can partner with if you don’t have the money or if you don’t have the experience that your neighbor can.”
Although the 1909 railroad car was a rather unique discovery for the family, French advises that you never know what’s out there and what might draw you in creatively: “How many old buildings and old stories and old cars are just sitting out there waiting to be discovered and valentine?”
“I think that’s the key,” he says. “You have to have a little love and a little inspiration to take part in a project like this and breathe new life into it.”
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