Park Circle Primary or 2nd home with STR Permit

[Aaron Eisenberg]

Hey y'all,

We've got a house in Park Circle, North Charleston that has been a successful Airbnb for the last 3 years. We've got the last of the permits in this area (they've capped them now), and we're looking to sell the home to free up some cash for a primary home purchase. The home doesn't make sense strictly as a STR investment as the margins become too thin with current rates & new taxes post-purchase, but I'm optimistic it's a great investment long-term, and could make a ton of sense for someone interested in having a primary they can airbnb, or a 2nd home. The permit is held in an LLC that we would also sell (have confirmed with two real estate lawyers this would work to keep the permit)

4br/2.5 bath. 2040 sqft. Market Value 630K

https://www.airbnb.com/rooms/836992065410993353?guests=1&adults=1&s=67&unique_share_id=64599608-0640-472f-970e-d1322cb67340

Gross Income: 57 - 60K annually

Average Annual Net Profit: 22K

Mortgage Loan Balance: $331,181.87

Mortgage Tax, & Insurance Payment: $2,079.46/month

HOA: $71/month.

Landscaping average: $125/month

Average Cleaning Spend: $275/month

Pardee HVAC: $211.46

Pardee is a financing deal that includes free service whenever anything goes wrong. We've found it worth the money in this city with the heat. We've had issues and they show up night or day any day and take care of it for the guest - it's been a major headache resolver for us. If you're not interested in this, I can find out the pay off balance.