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Help with analysis
Hi there, I'm new to investing and new to Savannah. I ran the below analysis, can anyone help review and give some pointers on what I'm not thinking about? It seems too good to be true so it probably is :)
Property address: 627 E Anderson St, Savannah GA
Listing price: $429K
4 bed / 3 bath
STR zoning: it looks like it's outside the historic district / any zoned areas so does that mean it's just the $400 STR application cost? (I am not sure here)
AirDNA estimates $133k rev yearly
Assuming 7% interest rate, 20% down, 30% pm cost, 5% maintenance and 5% capex savings, total costs come to ~$6-7K/month
That would make breakeven revenue $70-80k/year which seems like a pretty big cushion with the AirDNA estimate
Thoughts? What am I missing?