best fort lauderdale real estate agent

Jim Esposito

Intercoastal Realty

954-336-3776

Vacation Rentals How To Guide

 

Scenario #4

Own an Airbnb in Fort Lauderdale, Florida

 

 

best fort lauderdale real estate agent

 

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How Much Money You Make Owning a Vacation Rental in Ft. Lauderdale, FL



Scenario #4

 

30% Cash on Cash Return
With 30% Down on a 6% Mortgage



Single Family Home on Lake
NE Neighborhood, 2/2 with Pool
2-3 Miles to Beach
No Repairs Required



how much money can you make owning and operating vacation rentals in ft lauderdale

We've put together some "Ball Park" Scenarios using sample Properties, consulting with Rene and Matty from iTrip Fort Lauderdale about projected rent and occupancy. Hopefully, these will assist you in getting a handle on the numbers.

Please be aware these are ball park estimates based upon our "best guess" professional opinion, may not necessarily be based upon the "Industry Standard" 60% average annual rental rate, but what we estimate, which will differ from property to property. In addition, there is no way of knowing exactly what any projected property might require in repairs, renovation or design to maximize your investment. We will assist you, getting the best numbers possible through your due diligence period, however, the actual projections for any specific property will be up to you to determine.

These numbers are computed using an Occupancy Rate of 70%. Again, we project a property near the beach in one of the better neighborhoods of Fort Lauderdale will be a little above average in terms of demand.




Estimated Income Property Financials

 

(Occupancy Rate 70%)


Purchase

795,000

Estimated Furnish & Outfit

35,000

Total Investment

830,000

 

Estimated Gross

(Estimated 37 Weeks @ 2,354 per)

87,100

 

iTrip Management Fee (25%)

4,355

Effective Gross

82,745

 



Estimated Property Expenses


Property Taxes (Estimated)

14,320

Insurance (Estimated)

6,000

Pool

3,000

Landscaping

1,200

Electric (Est. 475 per month)

5,700

Water (Est. 180 per month)

2,160

Estimated Expenses

32,400

 

Estimated NOI

49,345

 





Estimated Cash on Cash Return

 


Projections above are for Cash Deal. Obviously. We don't know what down payment you plan to post, what your interest rate may be. Depends upon the loan you might qualify for. For an investment property you might be required to put at least 30% Down. In this example that would be $240,000. An Interest Rate of 6% on the balance of $555,000 equals $33,300 annually, so the estimated NOI works out to $17,045 per year.


30% Down Payment

240,000

Estimated Furnish & Outfit

35,000

Total Cash Investment

275,000

 

Effective Gross

82,745

Estimated Expenses

32,400

Debt Service

(6.0% Interest on $555,000)

33,300

 

Estimated NOI

17,045






Don't Forget to Add In Property Appreciation

 

In 2021 Average Sale Price for a SFR in Fort Lauderdale
went up 36.2%

 

Median Price increased 20%

 

And 19% in 2020


S&P Dow Jones Home Price Index

 

s&p dow jones home price index, u.s. vs south florida 1988-2022

 

South Florida (Red) versus United States (Blue) from 1988 thru 2022
Shaded areas indicate U.S. recessions




See 2021 (and 2020 Year-End
Real Estate Reports

 

for Fort Lauderdale, Broward County & The State

from Florida Association of Realtors

 




Fine Print

 

This is a "Sample" Scenario. How much you can actually get in rent for any property will depend upon the location, the features (pool, hot tub, waterfront, etc.) and the condition of the property, and can only be estimated at this point. There are a number of resources you can utilize to determine your own estimates, and we suggest you do so before entering into any contract.

In addition, there is no way of knowing exactly what any projected property might require in repairs, renovation or design to maximize your investment. The ulltimate decision of how much money to put into any particular property is up to you, of course, but that may affect how much rent you can receive.

The "Tourist Taxes" for the State of Florida (6%), Broward County (6%), and the Tourist (1%) are not included in these numbers because they are collected by the Booking Website when the property is Booked. As part of their services, iTrip pays these taxes to the appropriate entity.


Everything You Always Wanted to Know About
Investing in (Owning & Renting Out)
Short Term Vacation Rentals in Fort Lauderdale

 

But Didn't Know Who to Ask

 

 

Would You Like to Invest in Vacation Rentals?

 

Get Answers to These FAQs

 






 

Jim Esposito

 

Fort Lauderdale Foreclosure Real Estate Agent

 

954-336-3776

 

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