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PROPERTY / DEAL DETAILS:
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Property Address5 Bedford Place NE, Fort Walton Beach, FL 32547Bedroom Count:5
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Purchase Price$575,000Bathroom Count:3
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Listing URLLink to PhotosSquare Footage:3,042
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CASHFLOW, TAX SAVINGS AND RETURNS:NOTES:
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Cash on Cash Return (CoC):13.47%
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Annual Cash-Flow:$27,305.68
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Estimated Bonus Depreciation:$184,000.00
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Estimated Additional Offset:$151,983.44
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Total Year 1 Offset:$335,983.44
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Year 1 Estimated Net Effective Tax Savings:$124,313.87
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Year 1 Estimated Tax Savings And Cash-Flow:$151,619.56
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Year 1 ROI:74.78%
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DEAL SNAPSHOT:NOTES:
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CASH NEEDED:CASHFLOW, TAX SAVINGS AND RETURNS:
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Purchase Price:$575,000.00
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Down Payment:$57,500.00
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Mortgage Amount:$517,500.00
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Closing Costs:$16,150.09
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Seller Credit:$7,500.00
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Inspection Seller Credit:$0.00
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Adjusted Closing Costs:$8,650.09
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Total Cash To Close:$66,150.09
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Post-Close Enhancements Budget:$136,608.40
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Total Cash Needed:$202,758.49
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MONTHLY INCOME PROJECTIONS:NOTES:
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Average Nightly Rate (ADR):$650
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Average Occupancy (OCC):60%$166k comp
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Gross Booking Revenue:$11,863$111k comp
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Cleaning Revenue:$1,500$84k comp
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Gross Monthly Income:$13,363$61k comp
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Gross Annual Revenue (Before ALL Expenses)$160,350$60k comp
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Net Annual Cashflow (After ALL Expenses)$27,306$56k comp
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Net Monthly Cashflow (After ALL Expenses)$2,275
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RECURRING MONTHLY EXPENSES BREAKDOWN:NOTES:
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RECURRING PAYMENTS:UTILITIES:
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Principal + Interest Payments:$3,152.76Water/Sewer:$178
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Property Taxes:$720.67Gas And Electricity:$499
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STR Insurance Policy:$300.45Internet:$105
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Flood Insurance:$0.00Cleaning:$1,500
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Private Mortgage Insurance (PMI):$199.81HOA Dues:$0
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TOTAL Monthly Mortgage Payment (PITI):$4,373.69Pest Control:$20
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Repairs And Capex:$712Lawn Care:$141
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Co-Hosting Fee:$2,135Snow Removal:$0
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Average Platform Fee:$1,424Pool/Hot Tub Maintenance:$0
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Net Annual Expenses:$133,044.32
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Net Monthly Expenses:$11,087.03
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ONE-TIME DESIGN AND ENHANCEMENTS BUDGET:NOTES:
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INTERIOR:EXTERIOR:
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Handyman/General Contractor "Wear And Tear" Enhancements:$2,500Handyman/General Contractor "Wear And Tear" Enhancements:$3,500hot tub
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One-Time Supplies Stocking:$1,608Games:$1,500deck with outdoor furnitures
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Bedrooms:$25,000Firepit:$2,500string lights
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Living Room:$6,500Hot Tub:$10,000game room
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Dining Room:$6,500Sauna:$12,500we can add outdoor games
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Basement:$0Artificial Turf Putting Green:$13,500
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Loft Living Area:$0Patio Furniture:$2,500
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Game Room:$4,500Pickleball Court:$0
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Garage:$7,500Pool Upgrades/Repairs:$12,000
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Misc Improvement 1:$0String Lights:$1,500
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Misc Improvement 2:$0Misc Amenity 2:$0
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Paint/Mural:$5,500Misc Amenity 3:$0
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Designer:$17,500Misc Amenity 4:$0
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Total:$77,108Total:$59,500
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NET DESIGN AND ENHANCEMENTS BUDGET TOTAL:$136,608