AirBnB House Hack in Barnum West Denver

[Will Southern]

Hi guys my name is Will and I am looking at getting into my first property. I am thinking about purchasing a home and using airbnb to rent out the basement. So here is the info: 4 bed 2 bath ranch with basement, 2/1 upstairs(1100sq/ft) and 2/1(750sq/ft) in the basement. Purchase price is $379k. PITI+taxes+insurance is right around $2100. Basement needs a total update as it is original from the 60s. I will do the work myself and estimate less than $10k in repairs. Upstairs is already updated. The property is on the Barnum West neighborhood which I feel is up and coming. It is 5 miles to downtown and there is a light rail station with a parking garage less than five minutes away. Comps in the area are going for around $400k with the high end around $430-460. My plan is to live in the upstairs and full time airbnb the basement. I have ran the property on airdna and it estimates an income of $32,000 per year which would cover my mortgage costs. I have also looked on airbnb and found comps for around $80-120 per night but there aren't many in the area. After my year of living in the house I plan to buy another one and rent this house out per bedroom for probably $700 per room which would cover my mortgage still. So I feel like the numbers work but I would appreciate some third party opinions! Thank you guys for any feedback!