Wildwood, GA
$ 250,000 - Short Term Rental
3.0 bd | 1.0 ba | 1,748 sqft | 1935 | $ 938 Rent
ARV
$250,000
IRR
3.27 %
Cash on Cash
1.68 %
Net Monthly Cashflow
$158
Description
Ok, this is an ugly property but it's over 1,700 square feet and we believe the property could be converted to 4/2 and there is a garage we would convert to a 2/1 apartment. The property is on over an acre and 20 minutes to Chattanooga, Ruby Falls, Rock City, Inclined Railroad. Chattanooga is rated the #2 AirBnB market for profit related to purchase price according to AirDNA.
Short Term Rental Analysis
- IRR: 3.27 %
- Net Cashflow: $ -3,799
- Rehab Est: $ 80,000
- Cap Rate: 2.99 %
- Monthly Rent: $ 938
- ARV: $ 250,000
- Cash on Cash: -5.68 %
- Taxes: $ 688
Financial Analysis
- Loan Amnt: $ 93,750
- All-in Cost: $ 207,188
- Debt Coverage Ratio: 2.99 %
- Total Out of Pocket: $ 113,438
- Monthly Mortgage: $ 475
Expense Assumptions
- Prop Insurance: $ 2,000,000
- Vacancy: $ 563
- Prop Mgmt Fee: $ 1,126
- Maintenance: $ 563
- Capex: $ 0
Financing Assumptions
- Cash Purchase: No
- Loan Term: 360 months
- Down Payment: 25.00 %
- Points: 1.00
- Interest Rate: 4.50 %
- Interest only loan: No
Other Assumptions
- Closing Cost: $ 2,500
- Rental Holding Period: 4