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Updated over 2 years ago,
Turn-key STR in Nashville, IN
I have a property for which I need a buyer. This property is and has been used as a short term rental for many years now.
Price: $1.1M
***** Property Detail ******
5 bed / 5.5 Bath
7300+ sqft
6.5 acres w/pond
Smart home (owner has been managing this property remotely)
As-is appraised value: $1.325M
***** Included in purchase *****
- Completely furnished with seasonal decorations (the cleaning crew will be swapping out the decorations for fall today).
- Includes the bookings website which accounts for a very large portion of the bookings (airbnb and vrbo account for a small portion, meaning less fees paid out).
- Includes Facebook and Instagram social media accounts and branding.
- Automation booking software to be transitioned, already has drip campaigns that the customer is entered into once booking a stay and reduces the management time to a few hours per month.
- Membership programs (2 levels) that automatically rebook the member annually.
***** Financials *****
GOI 160K+
NOI 75K+ (owner uses at minimum about 13K worth of time annually. 2022 was much higher)
Taxes: 8K
Insurance: 10K
Rent is current $600/night and is being increase in January to around $750. There was an issue several years ago where the property management company was moving bookings from this property to another property that they also managed. The owner figured this out and quickly cancelled the agreement with that property management provider and has been doing the management. Prices were dropped in order to rebuild trust and will be much closer to normal rates beginning 2023. This property should easily gross 230K annually. There are not any contracts with the existing service providers (cleaner, contractors, etc). There are 5 cleaning ladies that are on rotation to prevent burn-out. They clean between stays and do the semi-annual deep clean. They also swap out the decorations for each season.
Property walk through videos
https://drive.google.com/drive...
I can provide financial docs and other information.