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Profitable Investment Opportunity: Off-Market Listing: Resideline estimates that this property can be rented on Airbnb for an average of $133 per day and long-term for an average of $1,970 per month, based on similar listings in the area. Estimated short-term cap rate of 1.7%. Estimated long-term cap rate of -2.6%. Coined the Gold Coast at the Bellemoral for its abundance of light & big views of Lake Union, Mtns, Elliot Bay & the city, this top floor unit has only 1 shared wall. Classic details w/ modern updates; hardwoods, picture molding & newer windows. With 711sf, this 1BR+den lives comfortably. Space to relax & entertain friends, a den w/ French doors & room for a good-sized dining table. The kitchen's been updated w/ white appls, black countertops & plenty of cabinets. Built-in bookcase in hall leads to a spacious BR & bath w/ tile floors, deep tub & pedestal sink. Located in the Harvard District around beautiful homes, parks, restaurants & transit. HOD’s include Taxes & Ins. Laundry, bike & storage rooms. No waitlist for parking ($70 a month)!
Airbnb Avg Daily | See Full Details |
Occupancy Rate | See Full Details |
Monthly HOA | $620 |
Rental Policy | daily |
Yearly Taxes | $2819 |
Bedrooms | 1 |
Bathrooms | 1 |
SQFT | 711 |
Furnished | N/A |
Year built | 1928 |
Listing Status | Off Market |
MLS | 2349391 |
Interest rate
Let’s analyze a 30-year fixed-rate mortgage for $349,900 at today’s interest rate of 0.07%.
The initial loan size, equal to your condo price: $349,900.
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: $620.
Yearly taxes of $2819, divided by 12 for a monthly estimate.
Combining principal, interest, payments, HOA fees, and taxes, your approximate yearly mortgage expenses are $32,604.
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: $-8,964.
The estimated property value based on recent sales of similar properties: $349,900.
For a property with an NOI of $-8,964 per year and a market value of $349,900:
Formula: NOI / Current Market Value
$-8,964 / $349,900 = -2.6%
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: $5,808.
The estimated property value based on recent sales of similar properties: $349,900.
For a property with an NOI of $5,808 per year and a market value of $349,900:
Formula: NOI / Current Market Value
$5,808 / $349,900 = 1.7%
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 $349,900 with a 20% down payment and 3% closing costs, and an annual pre-tax cash flow of $-8,964:
Formula: Annual Pre-Tax Cash Flow / Total Cash Invested
$-8,964 / ($349,900 × 0.2 + $349,900 × 0.03) = -11.1%
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 $349,900 with a 20% down payment and 3% closing costs, and an annual pre-tax cash flow of $5,808:
Formula: Annual Pre-Tax Cash Flow / Total Cash Invested
$5,808 / ($349,900 × 0.2 + $349,900 × 0.03) = 7.2%
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: $38,412.
Using the rented days, daily rental rate, and applicable fees, your potential yearly revenue is approximately:
$38,412
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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