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PROPERTY / DEAL DETAILS:
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>>> VIDEO BREAKDOWN <<< (CLICK HERE AND REVIEW THIS FIRST)
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Property Address3914 Ural St, Panama City Beach, FL 32408Bedroom Count:5
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Purchase Price$570,000Bathroom Count:3
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Listing URLLink to PhotosSquare Footage:2,509
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CASHFLOW, TAX SAVINGS AND RETURNS:NOTES:
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Cash on Cash Return (CoC):14.11%
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Annual Cash-Flow:$45,020.77
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Estimated Bonus Depreciation:$182,400.00
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Estimated Additional Offset:$206,046.89
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Total Year 1 Offset:$388,446.89
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Year 1 Estimated Net Effective Tax Savings:$143,725.35
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Year 1 Estimated Tax Savings And Cash-Flow:$188,746.11
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Year 1 ROI:59.17%
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DEAL SNAPSHOT:NOTES:
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CASH NEEDED:CASHFLOW, TAX SAVINGS AND RETURNS:
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Purchase Price:$570,000.00
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Down Payment:$57,000.00
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Mortgage Amount:$513,000.00
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Closing Costs:$14,490.17
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Seller Credit:$10,000.00
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Inspection Seller Credit:$6,500.00
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Adjusted Closing Costs:-$2,009.83
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Total Cash To Close:$54,990.17
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Post-Close Enhancements Budget:$264,001.80
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Total Cash Needed:$318,991.97
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MONTHLY INCOME PROJECTIONS:NOTES:
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Average Nightly Rate (ADR):$650Nick's main comp that we should outperform: Airbnb Listing | Airdna Listing
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Average Occupancy (OCC):68%Comp 1 = $152k
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Gross Booking Revenue:$13,444Comp 2 = $131k
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Cleaning Revenue:$1,500Comp 3 = $125k
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Gross Monthly Income:$14,944
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Gross Annual Revenue (Before ALL Expenses)$179,330
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Net Annual Cashflow (After ALL Expenses)$45,021
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Net Monthly Cashflow (After ALL Expenses)$3,752
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RECURRING MONTHLY EXPENSES BREAKDOWN:NOTES:
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RECURRING PAYMENTS:UTILITIES:
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Principal + Interest Payments:$3,042.79Water/Sewer:$156
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Property Taxes:$488.58Gas And Electricity:$419
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STR Insurance Policy:$297.51Internet:$100
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Flood Insurance:$0.00Cleaning:$1,500
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Private Mortgage Insurance (PMI):$198.08HOA Dues:$0
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TOTAL Monthly Mortgage Payment (PITI):$4,026.96Pest Control:$20
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Repairs And Capex:$807Lawn Care:$130
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Co-Hosting Fee:$2,420Snow Removal:$0
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Average Platform Fee:$1,613Pool/Hot Tub Maintenance:$0
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Net Annual Expenses:$134,309.23
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Net Monthly Expenses:$11,192.44
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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:$8,500Handyman/General Contractor "Wear And Tear" Enhancements:$8,500The interior is nice but a lot of the furnitures and design are outdated. Needs to be dressed up well, add design, amenities outside. This property has a sizeable backyard that we can do it. A good walking distance to the beach.
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One-Time Supplies Stocking:$1,502Games:$0Pool, pool beds and other furnitures. Fire pit.
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Bedrooms:$25,000Firepit:$1,500
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Living Room:$5,000Hot Tub:$9,500
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Dining Room:$5,000Sauna:$10,000
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Basement:$0Artificial Turf Putting Green:$8,500
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Loft Living Area:$0Patio Furniture:$2,500
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Game Room:$5,500Pickleball Court:$35,000
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Garage:$9,500Pool:$75,000
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Misc Improvement 1:$0"Fence/Gate" For Driveway/Front Yard$12,500
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Misc Improvement 2:$0Landscaping Crew$9,500<<<extra few thousand bucks for redoing almost all the grass rip-out and insatlling synthetic "mulch" or "chips" plus stone patio walkways
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Paint/Mural:$6,500Misc Amenity 3:$0
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Designer:$25,000Misc Amenity 4:$0
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Total:$91,502Total:$172,500
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NET DESIGN AND ENHANCEMENTS BUDGET TOTAL:$264,002