STR Underwriting

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Property info

Bedrooms

Bathrooms

Square feet

Year built

Pool

Hot tub

HOA

Purchase

Asking price ($)

Offer price ($)

Down payment (%)

Down payment ($)$108,750

Closing cost (%)

Closing cost ($)$14,500

Renovation cost ($)

Total investment$372,250

Property summary

✓ What we like

✗ What we don't like

Revenue comps

Manual comps (Airbnb links)

Income

Gross income (Yr)—

Gross income (Mo)—

Base nightly rate ($)

Avg occupancy (%)

Amenity premiums

Adjusted nightly rate —

Net operating income —

Cap rate—

Expenses summary

Operating expenses (Annual)—

Operating expenses (Monthly)—

Total incl. debt (Annual)—

Total incl. debt (Monthly)—

Debt service — 1st position

Mortgage amount ($)—

Term (years)

# of payments360

Interest rate (%)

Monthly P&I—

PMI annual ($)

PMI monthly$0

Debt service — 2nd position

Second lien ($)

Term (years)

# of payments360

Interest rate (%)

Monthly P&I$0.00

Total debt service

Total debt (Mo)—

Total debt (Annual)—

Target return

Cash flow (Yr)—

Cash flow (Mo)—

Cash on cash return —

Worst case (−15% income)

Cash flow (Yr)—

Cash flow (Mo)—

Cash on cash return —

General expenses

Property tax (Yr $)

Property tax (Mo)$500

Insurance (Yr $)

Insurance (Mo)$417

Monthly HOA ($)

Utilities / mo ($)

Cable / Internet (Mo $)

Repairs / maint. (Yr $)

Reserves

CapEx (%)

CapEx (Mo $)—

Property specific expenses

Lawn care (Mo $)

Pool / hot tub maint. (Mo $)

Snow removal (Mo $)

Pest control (Mo $)

Trash service (Mo $)

Overhead

Supplies (Mo $)

Management / HR

Channel fee / OTA (%)

Channel fee (Mo $)—

Management fee (%)

Management fee (Mo $)—

Ratio test

Opex ratio—

Debt service ratio—

Profit margin—

Price to revenue—