General STR Expenses

[Kenneth Garrett]

I am a long term self property managed investor (20 units - mix of SFR and small Multi-units) looking to buy my first STR/Vacation House in the Florida Panhandle (Destin/Navarre). Looking for advice from seasoned STR investors as to monthly expenses. See example below and appreciate any insight. Purchase $600,000, 20% down, near the beach. I see some or part of the cost on the platforms are paid by the renter; cleaning, booking fees, other fees, etc.

Mortgage $2000 

Property Taxes $350

Insurance $150

Internet $70

Electricity $150

Gas $80

Water $100

Host Fee $150 

Supplies $150

Cleaning $400

Software $100

Landscaping $100

Repairs $100

Total $3900                                          

[Matt "Roar" Gardner]

@Kenneth Garrett - I have a 5BR in Destin (purchased for $565 w/ 10% down), and I've helped plenty of other investors find their investment in the area.  We grossed $73K last year and are on track for about $85K this year.  Here's our numbers as a comparison to yours:

Mortgage (P&I Only) - $2570

Taxes - $480

Insurance - $220

Cable/Internet - $150

Electricity - $230 (averaged for last year)

Gas - $0

Water - $65

Cleaning - $900

Software - $30

Landscaping - $0

Pool - $0

Repairs - $200

HOA - $450

Host fees (I don't count toward my gross because I never see that $ in my account -- AirBnB takes it out directly)

You can definitely buy a SFR in Destin at that price point, and a condo is also another option. Best of luck!!