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Proposed Settlement Date

Financing Terms

Include Furniture

Include Future Bookings

By submitting an offer, I understand and acknowledge that vrolio corp is not real estate brokerage and does not represent me in any capacity on a real estate transaction. I understand that this is not a purchase commitment and I am simply presenting a non-binding letter of intent to the seller of this property and the seller is in no way obligated to respond or accept my offer.

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The Sandcastle-Hot Tub-Fire Pit-Walk to the beach

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Gary, IN 46403

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$569,000
3
2
2,526
sq. ft.
$225
per sq ft
Heated sq ft: 2,526 sq ft
Avg Nightly Rate: $325
Home Legally Sleeps: 6
Occupancy Rate: 23 weeks
Annual Gross Income : 60000
Annual Net Operating Income : 30000
Property Type: Detached Single Family Home (Villa, Cabin, Cottage)
Ownership Type: Full (100%)
Seasoned Short Term Rental: Yes
Furnishings Included: Yes
For Sale By: Broker
Seller Financing: No
Niche: Beach, Business Stay, City Life, Couples/Romance, Nature
New Construction: Inquire
Days on Vrolio: 676

Property Description

Welcome to the Sandcastle a getaway fit for a King or Queen!!! 3 bedroom 2 1/2 bath two level open concept. A master bedroom and bathroom with your private balcony. Your own private dune in the back yard complete with a grill, fire pit and hot tub. Rec room area with pool table. Walking distance to the beach and Indiana Dunes National Park. A short commute by car or train into Chicago. Miller Beach is a hidden gem. Perfect for a romantic getaway, girls weekend or family vacation.

Presented by:
Agent:
David Whitehead
RE/MAX Lifestyles
Seller Financing
No
Distress Sale
None
Seller Financing Terms
Seasonal Nightly Rates
High: 600
Low: 300
Peak: 600
Special Event: 500
Avarage: 325.00
Furniture Age
3
Est Value of Furnishings
$30,000
Peak & High Seasons
June, July, August, September
Ownership Percentage
Full (100%)
Qualifies for foreign national visa
No
Reason for Selling
Foreign national buyer restrictions from government?
No
Gross Annual Income
60000
Net Operating Income
30000
Stories
2
Additional Indoor Rooms
Attached Garage for No car, Family Room, Formal Dining Room, Game Room, Home Office/Den, Living Room
Appliances
Dishwasher, Dryer, Full stove, Garbage Disposal, Microwave, Oven, Refrigerator, Washer
Heating/Cooling
Central A/C (gas or electric)
Floor Coverings
Real Hardwood, Tile
Security
No
Security Description
Half Baths
1
Master Suite(s)
Inquire
Energy Efficiency
Programmable thermostat, Skylights
Year built
2004
Outdoor Features
Above Ground Spa, Deck, Fenced/Gated Yard, Fire Pit, Walk Out Balcony
View
Other
Backyard Exposure
North
Lot Size
about 3/10 of an acre
Community Features
Tax Amount/Year
$4,243
CDD Amount
Inquire
Neighborhood
Inquire
Deed Restricted Community
No
Interview Required
No
Neighborhood Amenities
Mandatory HOA
Inquire
Home Legally Sleeps:
6
Onsite Parking
Lots of parking on the driveway and at the end of the driveway probably can fit 6-10 cars.
Neighborhood Association STR Rules
Inquire
Municipality STR Rules
No restrictions documented by owner. Verification recomended
Transferrable Permit or License
Yes, Transfers to new owner
Rental Tax Info
$7.00
Minimum Nightly Rental
No Minimum
Rental Length Requirement
No Restriction
Has Rental History
Yes
Established Rental History
3 Years
Occupancy Rate
23
Being Sold with Bookings
Inquire
Caretaker Info
InquireCaretaker cannot stay and oversee the property
Bookings Placed By
Manager
Managed By
Manager
Management Bookings Percentage
$0.20
Caretaker Bookings Percentage
Inquire
Paid Booking History
Yes
Future Booking Calendar
Management Fees
Inquire
Caretaker Fees
Inquire
Sold with Marketing Collateral
No
Manager Cancellation Policy
None
 
  •  
Credit Card Fee
Inquire
Cleaning Fee
$8,800.00
Licesnes & Permits (Annual)
Inquire
Advertising & Tech Costs (Annual)
Inquire
Yard & Pest Control (Annual)
Inquire
Pool & Spa Maintinence (Annual)
$1,750.00
Electricity (Annual)
$2,820.00
Water/Sewer (Annual)
$479.40
Cable/Interbet (Annual)
$1,200.00
Accounting Fee (Annual)
Inquire
Property Taxes (Annual)
$4,243.00
Homeowner's Insurance (Annual)
$1,140.00
Short Term Rental Insurance Rider (Annual)
Inquire
CDD Fee (Annual)
Inquire
Annual Homeowner's Association Dues
Inquire
Additional Membership Fees (Annual)
Inquire
Acquisition
Purchase price
Closing costs
Home Inspection
Furniture & Interiors Package
Rehab Work Estimates
Other
Total Capital Investment

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Income
Average Nightly Rent

Weekly Rent

Potential Annual Rent

Weeks Rented (of 52)

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Effective Gross Rent

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Management Rental Commission Annually ($)

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Credit Card Fee Annually ($)

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Cleaning Fees Annually

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Booking Site Service Fees ($)

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Management Fee Annually

Additonal Nightly Insurance Policy ($ per night)

Additonal Nightly Insurance Policy Annually

Sales, Bed, Resort, Tourist Tax (%)

Sales, Bed, Resort, Tourist Tax Annually ($)

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Fixed Expenses (Annual)
Annual Permits/Licences

Advertising & Tech Costs

Yard and Pest Control

Pool Maintenance

Electricity

Water/Sewer

Cable/Internet

Accounting

Property Taxes

Homeowner's Insurance

Short Term Rental Insurance Rider

CDD fee

Annual Homeowners Association Dues

Additional Membership Fees

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Loan
Down Payment (%)

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Loan Amount

Interest Rate

Amortization (Loan Years)

Monthly Payment

Annual Debt Service

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Returns
Average Monthly Cash Flow

Annual Cash Flow

Cash-on-Cash Return

Annual Occupancy to Break Even

Break-Even Occupancy (Weeks)

Net Operating Income (NOI)

Cap Rate (ROI)

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User understands this calculator is deemed reliable but not guaranteed. Vrolio makes absolutely no guarantees on returns or income. User should do their own due diligence and verify all data before making a purchasing decision. User understands that this is an educational tool only. We therefore accept no liability arising from any reliance made by any user or person to whom this information is made available to. Please use this tool at your own discretion and use caution always before buying any real estate investment.

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Listing Source: RE/MAX Lifestyles, 219-793-4416

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