Asheville Area STVR - Financials

[Alex Fountain]

I have an opportunity to purchase a 4/3 property in the town of Black Mountain, NC, just outside of Asheville, NC.

We have the intent of renting this property out short term and occasionally using it as a vacation spot.

I was hoping to get some input and opinions on the financials of this deal to ensure my head is not just in the cloud and that it actually has the ability to pay for itself and potentially provide some cash flow.

The purchase price is around $365k, purchasing the property on a 30-year 3.875% with 35% down. House payment will be around $1.5k with insurance and tax. 

I have seen estimates on various sites of potential revenue spanning from $45k- $60k. (airdna, etc). I am estimating a need to bring in around $2.7k /month to break even.

We are comfortable managing the property ouselves which will help to reduce our costs.

Any opinions or insights from anyone familiar with that area, or with STVR's in general, I would be happy to hear all!