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


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