Luna - Real Estate AI Assistant
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Get insights, projections, and answers instantly!
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Profitable Investment Opportunity: Off-Market Listing: Resideline estimates that this property can be rented on Airbnb for an average of $152 per day and long-term for an average of $2,299 per month, based on similar listings in the area. Estimated short-term cap rate of 7.9%. Estimated long-term cap rate of 2.1%. Fabulous opportunity to own a large, one-bedroom in the historic Gold Coast neighborhood! GARAGE parking is included in price! Please call me for specific times we can access to view. Great open floorplan with beautiful hardwood floors and space for dinning table. Kitchen with maple cabinets and island with breakfast nook. Large bedroom features walk in closet with built-ins. Building features door staff, laundry room, storage, bike room and rooftop deck with incredible views! Minutes to the lake Michigan and Oak Street Beach. Minutes to Clark/Division Red Line Stop. Just down the street from the historic 3rd Coast Cafe. Great for investors, no rental cap with 6 months lease minimum. The current lease ends April 30th, additional income from garage rented to another homeowner. Amazing location!
Airbnb Avg Daily | See Full Details |
Occupancy Rate | See Full Details |
Monthly HOA | $444 |
Rental Policy | daily |
Yearly Taxes | $2766 |
Bedrooms | 1 |
Bathrooms | 1 |
SQFT | 750 |
Furnished | N/A |
Year built | 1972 |
Listing Status | Off Market |
MLS | 12314608 |
Interest rate
Let’s analyze a 30-year fixed-rate mortgage for $230,000 at today’s interest rate of 0.07%.
The initial loan size, equal to your condo price: $230,000.
The monthly cost of borrowing, based on an annual rate of 0.07% (divided by 12).
Over 30 years, you’ll make 360 payments (30 years × 12 months).
Estimated monthly Homeowner Association fees: $444.
Yearly taxes of $2766, divided by 12 for a monthly estimate.
Combining principal, interest, payments, HOA fees, and taxes, your approximate yearly mortgage expenses are $22,776.
The capitalization (cap) rate measures a property’s rate of return based on its income. It’s calculated by dividing the Net Operating Income (NOI) by the Current Market Value, expressed as a percentage.
The income after operating expenses (e.g., management, maintenance, insurance), calculated as gross rental income minus these costs: $4,812.
The estimated property value based on recent sales of similar properties: $230,000.
For a property with an NOI of $4,812 per year and a market value of $230,000:
Formula: NOI / Current Market Value
$4,812 / $230,000 = 2.1%
The capitalization (cap) rate measures a property’s rate of return based on its income. For short-term rentals, it’s calculated by dividing the Net Operating Income (NOI) by the Current Market Value, expressed as a percentage.
The income after operating expenses (e.g., management, maintenance, insurance), calculated as gross rental income minus these costs: $18,060.
The estimated property value based on recent sales of similar properties: $230,000.
For a property with an NOI of $18,060 per year and a market value of $230,000:
Formula: NOI / Current Market Value
$18,060 / $230,000 = 7.9%
Interest rate
Cash on Cash Return is a key real estate metric that measures the annual cash income earned relative to the cash invested, expressed as a percentage. It’s calculated by dividing the Annual Pre-Tax Cash Flow by the Total Cash Invested.
The property’s yearly income after operating expenses, excluding financing costs.
Includes your down payment plus additional costs like closing fees.
For a property priced at $230,000 with a 20% down payment and 3% closing costs, and an annual pre-tax cash flow of $4,812:
Formula: Annual Pre-Tax Cash Flow / Total Cash Invested
$4,812 / ($230,000 × 0.2 + $230,000 × 0.03) = 9.1%
Cash on Cash Return measures the annual cash income earned from a property relative to the cash invested, expressed as a percentage. For short-term rentals, it’s calculated by dividing the Annual Pre-Tax Cash Flow by the Total Cash Invested.
The property’s yearly income after operating expenses, excluding financing costs.
Includes your down payment plus additional costs like closing fees.
For a property priced at $230,000 with a 20% down payment and 3% closing costs, and an annual pre-tax cash flow of $18,060:
Formula: Annual Pre-Tax Cash Flow / Total Cash Invested
$18,060 / ($230,000 × 0.2 + $230,000 × 0.03) = 34.1%
Here’s how we calculate your potential yearly revenue for short-term rentals:
We start with 365 days, the total number of days in a year.
The percentage of the year your property is rented out: Hidden%.
Calculated as 365 days × occupancy rate (Hidden%).
The amount charged per day: Hidden.
Rented days × daily rental rate.
Typically 3% of rental income, plus additional fees like HOA or property-specific costs.
Gross rental income minus fees: $40,836.
Using the rented days, daily rental rate, and applicable fees, your potential yearly revenue is approximately:
$40,836
Note: Some properties may have additional short-term rental fees (e.g., 15% at Club at Brickell, Edgewater, Miami), which are included in this calculation.
Monthly Rent Revenue
Yearly Rent Revenue
*Estimate based on similar properties in the area.
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