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Updated about 4 years ago,
About to Walk Away...Airbnb Deal W/O reports
I am looking to buy the following property -
Beach house that rents 180/days per year - duplex total nights rented 378 average rent per night $425
The P&L numbers do not match these numbers - the property has also been on and off the market for years which makes me nervous
According to my math here are the numbers
Cost 775K
Down Payment 156K
Average Income 100K
Average Expenses 25K
Mortgage P/I - 2650
NOI - 75K
Cash Flow - 43K
ROI 28%
Cap Rate 9.7%
Cash on Cash - 26%
Total ROI - 45%
Is this a good deal?? I am just concerned because we continue to ask for the reports and we are not getting them.