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Updated almost 5 years ago on . Most recent reply
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Newbie...I need help analyzing a multifamily investment for STR
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!