16624 Westway Dr New Buffalo, Michigan, 49117-9278
7 bed • 7 bath • 15 guests
Est. $16,308/mo
This property is for sale!
Contact Ryan
Principal Broker/Owner at Realty Executives Instant Equity
$262,976
Annual Revenue
This property is projected to be in the top 48% revenue percentile compared to similar properties nearby.
Projected nightly rate is $1,412/night at 48% occupancy.Projected nightly rate is $781/night at 54% occupancy.
Top 65% of comparables
Top 4% of comparables
Seasonality
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33
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$209,808
Avg annual revenue
54%
Avg occupancy rate
$992
Avg nightly rate
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Revenue per year
$70k
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$10,217
Profit
Revenue
$262,976
Operating Expenses
$47,867
Operating Income
$215,109
Mortgage & Taxes
$204,892
Profit (Cash Flow)
$10,217
$1,139,750
Cash Investment
Down Payment
$1,020,000
Renos & Furnishing
$17,750
Closing Costs
$102,000
Total
$1,139,750
DSCR Ratio
Acceptable
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Investment Value Over Time
Property Appreciation
3%
Revenue Appreciation
0%
Cash on Cash Return
0.89%
Cap Rate
6.32%
STR Tax Calculator (USA)
Your current annual income
Your income tax rate
Taxes paid on $150,000
$45,000
If you buy this investment property, your est deduction will be...
Deductible mortgage interest
$141,197
Deductible property tax
$33,660
Your total deduction
$333,355
Your adjusted annual income
$150,000 - $333,355 = -$183,355
Taxes on -$183,355 (30%)
-$55,007
Your old tax bill
$45,000
Your new tax bill
-$55,007
Estimated tax savings
$100,007
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Property Overview
View property info, current ownership, recently sold comps, school zone ratings, area rents, and more.
Lot size:
30,013 sqft
Year built:
1989
Size:
6,376 sqft
Type:
SFR
Parking:
5
Heating:
FORCED AIR
Sold Comparables
| Address | Beds | Baths | Square Feet | $/SqFt | Lot Size | Year Built | Last Sale | Days on Market |
|---|---|---|---|---|---|---|---|---|
| 16466 Circle Ct | 2 | 2 | 2,450 | - | 29,359 | 1984 | $0 | - |
| 10612 Marquette Dr | 3 | 3 | 2,152 | - | 13,329 | 2018 | $0 | - |
| 16404 Meadow Wood Dr | 3 | 2 | 1,444 | - | 18,208 | 1984 | $0 | - |
| 10832 Kruger Rd | 6 | 3 | 3,189 | - | 1,308,107 | - | $0 | - |
| 16500 Timber Ln | 3 | 3 | 3,194 | - | 30,013 | 1989 | $0 | 105 |
| 16592 Westway Dr | 4 | 4 | 4,146 | - | 30,013 | 1990 | $0 | 41 |
| 10441 Randall Rd | 5 | 6 | 4,080 | - | 10,019 | 1999 | $0 | 81 |
| 16448 Meadow Wood Dr | 2 | 4 | 3,924 | - | 16,335 | 1992 | $0 | - |
| 9900 Cottage Ln | 4 | 4 | 2,696 | - | 9,975 | 2006 | $0 | - |
| 16500 Gowdy Pkwy | 5 | 2 | 1,472 | - | 37,026 | 1958 | $0 | 82 |
Property Details
- MLS Status: Active
- Property Use: Single Family Residence
- Stories: 2
- Lot size: 30,013 sqft
- Building area: 6,376 sqft
- Garage: Yes
- Heating: Forced air
- Pool: No
- Fireplaces: 1
- Basement: No
- Cooling: -
- View: -
- Parking: -
- Amenities: -
- Price per square foot: -
Lot Info
- Zoning: SELECTZONING
- Land Use: Residential
- Parcel Number: 13-7721-0076-00-5
- Flood Zone: Yes, Zone AREA OF MINIMAL FLOOD HAZARD
Tax Info
- Year Assessed: 2023
- Assessed Value: $2,176,900
- County Est. Land Value: -
- Assessed Land Value: -
- County Est. Structure Value: -
Market Estimate: $2,098,260
Ownership
- Name: Elaine Rozycki
- Owner Occupied: Yes
- Owner Mailing Address: 16624 Westway Dr, New Buffalo, Mi 49117
- Years Owned: 431
- Home Equity: -
- Mortgage Balance Remaining: $193,500
- Financed amount: -
- Owner Type: Individual
- Lien: N/A
- Inherited: N/A
- Foreclosure: No