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Updated almost 5 years ago on . Most recent reply

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Jake McMahon
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Newbie...I need help analyzing a multifamily investment for STR

Jake McMahon
Posted

I need help breaking this down...

These 3 units(1 building) have been on the market for 6 months. They were built in 2018. They are currently being rented out as STR. and are in a strong market for STR. They have solid rental history(aaprox. 60% or better), at $200/night. the current owner gets $1800/month from each unit and anything above and beyond goes to the property management. I think there is an opportunity here if you self manage these. Here are some numbers based on the info I could find.

Gross annual Income- $180,000(rents,cleaning fees,occupancy tax and fees)

Costs: 

Cleaning fees-$22,500

Occupancy tax-$6,500

Property tax-$4,500

utilities-$13,000

Cable/internet-$5,000

Insurance-$2,000

Maintenance-$3,000

HOA-$7,500

Debt service-$48,500

Total Net Income- $67,500

Sorry for all of the numbers, not sure if I'm missing anything or questions I should be asking. Any help is appreciated. Thanks in advance!

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