Share numbers for first STR (small town, normal SFH)

[Britt Hennings]

I have the opportunity to turn my first home into a STR once moving into a new home. I have read all the blog posts, etc but would rather talk numbers with someone in a similar situation/in my area. I live far west of Knoxville near Crossville, TN so bonus points if you live near me. I have a hard time trusting AirDNA numbers etc. and I have a hard time reaching out to hosts near me because the platform is restrictive.

My home is unspectacular in a good way haha. It's a 3/2 bath home in good condition, good location, and is partially updated, but it is not the $300/night type listing. Crossville is a small to mid size city and growing with many retirement communities/cities nearby. I see similar listings up for $100-$180/night.

I am preparing to get the property ready with about $3k in furniture, dishes, linens, and everything else to make it ready. It will be self managed, I will be near the unit (less than 5 mins away) to clean and take care of any issues.

My numbers:
Approx Value of Home $240-280k
Current monthly cost / $860 mo (mortg,ins,tax)
Utilities / $250. mo (elec,gas,water,trash,internet)

Cost to run as Airbnb
Approx monthly cost with STR insurance ($250/mo?) / $1000
Utilities / $300 mo.
Supplies / $60 mo.
Lawn Mowers / $200 mo.

Total monthly cost$1600-1700

Target nightly rate starting out: $140
Cleaning Fee: $50
Avg. occupancy rate for my area: 46% (This could be inaccurate)
Projection: $1932 (@ 46% occupancy) + 300 (cleaning fee @ 6 stays) = $2232 - $67 (3% booking fee)

Monthly Revenue:$2165
NOI: ~$500/mo

So if you have a lower-end home in a smaller town here are the numbers I'm interested in:

Total Revenue for 2023 and YTD
Occupancy Rate
Approx. Value of Home
Operating Costs
NOI
Cost to turn a unit
Any other pertinent information I need to consider

Also if any of this is way off please do tell. Just trying to solidify my numbers before diving in.