[Calc Review] Help me analyze this deal

[Todd Miller]

Hi,

I am new to Bigger Pockets as well as analyzing potential rental units. I am currently in real estate school in NJ, and I am curious about investing in short-term rental properties.

I tried to enter as much data as I could on this attached property. The main part I am not positive with is the Monthly rental income. I contacted the listing agent, and he stated that the current owners just recently decided to rent the unit. The agent only shared with me that the owners achieved $17k in 30 days. That sounds nice, but he was unable to provide a 12 month financial statement so, that number really doesn't mean much. Knowing the 12 rental income and the vacancy rate would be best. Seeing that report would also enable me to see when rental rates increase depending on the time of year.

If someone could look at this and let me know if my numbers are a good estimate, and whether or not this property would be a good investment.

I am not in a financial place right now to secure this deal, so please feel free to snag it for yourself if it meets your needs. I am just looking to learn, and see if my numbers are close to what you experts think.

Thanks in advance, Todd

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

[Tim Herman]

@Todd Miller That's over $300 per night as a short term rental at 100% capacity. Looked at March and a ton of properties near the area are renting for $150 per night. Weekends might be booked but unlikely 100 percent. So let's say you get $200 per night and 60% capacity, your gross will be $3600 per month. Where did you find the only property that will never have any maintenance. I average 1 per year on long term. No clogged toilets, no drippy faucets, burners that quit working, painting to spruce up the place. No other utility expenses like wifi. What are the reserves in the condo association or is there a special assessment coming up. I looked up long term rent and you could get a whopping $2700 per month.