Profitable Investment Opportunity: Off-Market Listing: Resideline estimates that this property can be rented on Airbnb for an average of $231 per day and long-term for an average of $2,137 per month, based on similar listings in the area. Estimated short-term cap rate of 7.7%. Stunning, newly renovated condo in the heart of the South Loop featuring one bedroom and one bathroom. This open-concept space boasts beautiful hardwood floors, elegant wainscoting, a custom gas fireplace, and a private balcony, creating a perfect blend of style and comfort. The modern kitchen impresses with brand-new stainless steel appliances, granite countertops, and custom cabinetry. With its sophisticated finishes and abundant natural light, this condo truly stands out as a unique and inviting space. CLICK BELOW .FOR A VIRTUAL TOUR!
Airbnb Avg Daily | See Full Details |
Occupancy Rate | See Full Details |
Monthly HOA | $450 |
Rental Policy | daily |
Yearly Taxes | $4269 |
Bedrooms | 1 |
Bathrooms | 1 |
SQFT | 834 |
Furnished | N/A |
Year built | 2004 |
Listing Status | Off Market |
MLS | 12328440 |
Interest rate
Let’s analyze a 30-year fixed-rate mortgage for $250,000 at today’s interest rate of 0.07%.
The initial loan size, equal to your condo price: $250,000.
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: $450.
Yearly taxes of $4269, divided by 12 for a monthly estimate.
Combining principal, interest, payments, HOA fees, and taxes, your approximate yearly mortgage expenses are $25,632.
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: $12.
The estimated property value based on recent sales of similar properties: $250,000.
For a property with an NOI of $12 per year and a market value of $250,000:
Formula: NOI / Current Market Value
$12 / $250,000 = 0.0%
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: $19,368.
The estimated property value based on recent sales of similar properties: $250,000.
For a property with an NOI of $19,368 per year and a market value of $250,000:
Formula: NOI / Current Market Value
$19,368 / $250,000 = 7.7%
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 $250,000 with a 20% down payment and 3% closing costs, and an annual pre-tax cash flow of $12:
Formula: Annual Pre-Tax Cash Flow / Total Cash Invested
$12 / ($250,000 × 0.2 + $250,000 × 0.03) = 0.0%
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 $250,000 with a 20% down payment and 3% closing costs, and an annual pre-tax cash flow of $19,368:
Formula: Annual Pre-Tax Cash Flow / Total Cash Invested
$19,368 / ($250,000 × 0.2 + $250,000 × 0.03) = 33.7%
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: $45,000.
Using the rented days, daily rental rate, and applicable fees, your potential yearly revenue is approximately:
$45,000
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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