Great location for STR. Help me analyze this deal

[Chris Tomingas]

In due diligence on this house that is in great location close to downtown in Athens, GA. The inspection revealed rotting and termite damaged structural wood so I don't think rehabbing is feasible or practical.

My plan was to build 1000sqft 2bd/2ba new home on site for $200,000. I am thinking short term rental so I added $15,000 to the rehab to furnish ($15/sq ft). With STR I believe I can get $2,200/month (not including cleaning fees) . The numbers don't look super great, but I believe in long term this great location will continue to appreciate.

Please view my report and let me know what you think.. 

View report

*This link comes directly from our calculators, based on information input by the member who posted.