[Calc Review] Help me analyze this deal

[Matthew Brown]

Hey! 

I am still relatively new on my multifamily real estate journey, and I would love some help analyzing this deal. Here is some background on this property: it is a duplex in Elizabeth City, NJ; It is within walking distance from the airport and the bus station that takes you into NYC; the current owners live in both units and are willing to pay rent if we agree on a price.

It may be more profitable to turn it into a short-term rental. AirDNA -

Annual Revenue
$71.7K

Average Daily Rate
$321

Occupancy Rate
61%

I am uneducated on how to evaluate properties for short-term rentals, so that any advice would be helpful. Also would be open to keeping one long-term and one short-term to reduce the risk for my first property. 

Any advice is helpful. Thanks!

View report

*This link comes directly from our calculators, based on information input by the member who posted.

[January Johnson]

Check out Awning.com and their Airbnb Estimator tool as well to see stats for the area. 

You didn't say what the purchase price is or what rents are in this neighborhood.  Need more info in order to give you advice.