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PROPERTY / DEAL DETAILS:
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Property Address5454 2nd St, Saint Augustine, FL 32080Bedroom Count:3
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Purchase Price$615,000Bathroom Count:2
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Listing URLLink to PhotosSquare Footage:1,445
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CASHFLOW, TAX SAVINGS AND RETURNS:NOTES:
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Cash on Cash Return (CoC):12.32%
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Annual Cash-Flow:$26,397.47
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Estimated Bonus Depreciation:$196,800.00
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Estimated Additional Offset:$155,719.35
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Total Year 1 Offset:$352,519.35
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Year 1 Estimated Net Effective Tax Savings:$130,432.16
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Year 1 Estimated Tax Savings And Cash-Flow:$156,829.63
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Year 1 ROI:73.20%
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DEAL SNAPSHOT:NOTES:
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CASH NEEDED:CASHFLOW, TAX SAVINGS AND RETURNS:
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Purchase Price:$615,000.00
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Down Payment:$61,500.00
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Mortgage Amount:$553,500.00
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Closing Costs:$16,660.70
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Seller Credit:$20,000.00
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Inspection Seller Credit:$7,500.00
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Adjusted Closing Costs:-$10,839.30
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Total Cash To Close:$50,660.70
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Post-Close Enhancements Budget:$163,589.00
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Total Cash Needed:$214,249.70
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MONTHLY INCOME PROJECTIONS:NOTES:
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Average Nightly Rate (ADR):$575
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Average Occupancy (OCC):70%Comp 1 = $160k
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Gross Booking Revenue:$12,243Comp 2 = $144k
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Cleaning Revenue:$1,500Comp 3 = $128k
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Gross Monthly Income:$13,743Comp 4 = $128k
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Gross Annual Revenue (Before ALL Expenses)$164,913NK main comp | Airdna URL
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Net Annual Cashflow (After ALL Expenses)$26,397
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Net Monthly Cashflow (After ALL Expenses)$2,200
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RECURRING MONTHLY EXPENSES BREAKDOWN:NOTES:
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RECURRING PAYMENTS:UTILITIES:
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Principal + Interest Payments:$3,372.08Water/Sewer:$108
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Property Taxes:$768.75Gas And Electricity:$400
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STR Insurance Policy:$314.95Internet:$79
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Flood Insurance:$0.00Cleaning:$1,500
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Private Mortgage Insurance (PMI):$213.71HOA Dues:$0
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TOTAL Monthly Mortgage Payment (PITI):$4,669.49Pest Control:$20
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Repairs And Capex:$735Lawn Care:$109
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Co-Hosting Fee:$2,204Snow Removal:$0
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Average Platform Fee:$1,469Pool/Hot Tub Maintenance:$250
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Net Annual Expenses:$138,515.03
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Net Monthly Expenses:$11,542.92
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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:$6,500Handyman/General Contractor "Wear And Tear" Enhancements:$4,500This home has potential, needs a bit of dressing up and additional amenities on its backyard.
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One-Time Supplies Stocking:$1,089Games:$3,000Improvements on some of the furnitures in the bedroom, living room and dining.
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Bedrooms:$15,000Firepit:$3,500Add some designs and wall designs.
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Living Room:$5,000Hot Tub:$12,000Fire pit
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Dining Room:$5,000Sauna:$15,000Pool beds, umbrellas and chairs.
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Basement:$0Artificial Turf Putting Green:$10,000
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Loft Living Area:$0Patio Furniture:$0
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Game Room:$0Pickleball Court:$35,000
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Garage:$9,500Pool improvements:$5,000
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Misc Improvement 1:$0Overall Landscaping Budget$13,500
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Misc Improvement 2:$0Misc Amenity 2:$0
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Paint/Mural:$4,000Misc Amenity 3:$0
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Designer:$16,000Misc Amenity 4:$0
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Total:$62,089Total:$101,500
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NET DESIGN AND ENHANCEMENTS BUDGET TOTAL:$163,589