155 Stephen Rd, Aptos, CA


$ 1,447,200 - Short Term Rental

6.0 bd | 3.0 ba | 1,728 sqft | 1962 yr | $ 350 Avg Rate

Yield-on-Cost
7.53 %
Monthly Rent
$113,880
Net Monthly Cashflow
$1,044
Rehab Est
$50,000

Description

Ever dreamed of owning an Airbnb? This beautifully updated triplex presents a rare opportunity to own a short-term rental in Santa Cruz County; it's the very last street in the limitless vacation rental permitted zone. That means you are essentially guaranteed a permit if you choose to apply! With a three-bedroom owner's unit, a studio, and a two-bedroom unit, you have plenty of options; two-bedroom AirBnbs in this area rent for approx. $200/night and UP. Aside from the financial no-brainer, the location is an obvious win as well. Walk to the sand in 3 minutes and enjoy local eateries right on the beach. You're also only 6 minutes from Aptos Village, 7 mins from the Nisene Marks Forest, and 5 minutes to Hwy 1 for everything else. Back inside, each unit has been gorgeously updated with light and bright interiors, shiplap ceilings, refreshed kitchens, updated light fixtures, & beautiful bathrooms. Your dream of owning a beach house and running an Airbnb is closer than you think!


Short Term Rental Analysis

  • IRR: 5.31 %
  • Net Cashflow: $ 12,534
  • Rehab Est: $ 50,000
  • Cap Rate: 0.08 %
  • Average Rate $ 350.00
  • ARV: $ 1,700,000
  • Cash on Cash: 0.03 %
  • Taxes: $ 1,770

Financial Analysis

  • Loan Amnt: $ 1,280,000.00
  • All-in Cost: $ 1,698,000.00
  • Debt Coverage Ratio: 1.11 %
  • Total Out of Pocket: $ 418,000.00
  • Monthly Mortgage: $ 9,616.21

Expense Assumptions

  • Prop Insurance: $ 3000.00
  • Annual Vacancy: $ 68,328
  • Cohosting Fee $ 9,964.50
  • Maintenance Cost: 123949.35
  • Capex: $ 0

Financing Assumptions

  • Cash Purchase: No
  • Loan Term: 360 months
  • Down Payment: 20.00 %
  • Points: 0.00
  • Interest Rate: 8.25 %
  • Interest only loan: No

Other Assumptions

  • Closing Cost: $ 48,000
  • Rental Holding Period: 12.00


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