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11605 Gulf Blvd #506, Treasure Island, FL 33706
Covers its debt with margin to spare at the current price.
Investment potential
Your scenario · adjust the levers below or open advanced settings to see how returns change
$78,493
$6,541/mo · at 68% occupancy & $425/night
$22,889
$1,907/mo after costs & mortgage
Cap rate
10.7%
Cash-on-cash
15.5%
DSCR
1.78
Confidence
Your assumptions
Revenue
$78,493/yr
Market avg: $78,493/yr · 68% occ · $425 ADR
Financing
$29,298/yr
Operating costs
$26,306/yr
How this property compares to similar short-term rentals nearby.
Comparable set · 50 properties
$286–$588
Median $425
41%–88%
Median 68%
$43.4K–$145.4K
Median $80.0K
185–365
Median 288
This property · $78.5K
Comparable properties (50)
Cash flow potential High · Appreciation potential Medium
365 days available · 242 days booked ·
365 days available · 206 days booked ·
365 days available · 195 days booked ·
365 days available · 223 days booked ·
282 days available · 217 days booked ·
318 days available · 226 days booked ·
365 days available · 198 days booked ·
360 days available · 241 days booked ·
339 days available · 246 days booked ·
322 days available · 222 days booked ·
342 days available · 231 days booked ·
365 days available · 274 days booked ·
318 days available · 223 days booked ·
305 days available · 225 days booked ·
327 days available · 214 days booked ·
348 days available · 254 days booked ·
278 days available · 220 days booked ·
282 days available · 160 days booked ·
365 days available · 166 days booked ·
311 days available · 202 days booked ·
340 days available · 217 days booked ·
271 days available · 178 days booked ·
206 days available · 149 days booked ·
316 days available · 186 days booked ·
226 days available · 177 days booked ·
299 days available · 181 days booked ·
270 days available · 223 days booked ·
236 days available · 144 days booked ·
264 days available · 169 days booked ·
334 days available · 189 days booked ·
257 days available · 181 days booked ·
332 days available · 176 days booked ·
220 days available · 130 days booked ·
223 days available · 135 days booked ·
222 days available · 126 days booked ·
210 days available · 154 days booked ·
294 days available · 174 days booked ·
214 days available · 161 days booked ·
222 days available · 185 days booked ·
282 days available · 167 days booked ·
208 days available · 139 days booked ·
262 days available · 141 days booked ·
245 days available · 163 days booked ·
271 days available · 149 days booked ·
285 days available · 157 days booked ·
207 days available · 132 days booked ·
291 days available · 137 days booked ·
259 days available · 133 days booked ·
185 days available · 118 days booked ·
312 days available · 98 days booked ·
Revenue and occupancy reflect Chalet's modeled estimates from observed booking activity for comparable active listings. Individual results vary with management, seasonality, and pricing.
Who this property is for
The same property is a great buy for one investor and a trap for another. Here's the honest read.
1031 / high-equity buyer
~$120.9K
Year-1 tax shield
Buying with cash or low leverage removes the debt-coverage problem entirely, so the thesis rests on appreciation plus a large first-year write-off. At roughly 25% of purchase price, the shield is substantial enough to carry the deal on its own.
DSCR cash-flow buyer
1.78
DSCR at asking
At asking price the property clears the 1.20 DSCR most lenders require, so it should qualify for DSCR financing and cover its own debt service from day one. This is the buyer this deal is built for.
Price-disciplined buyer
—
Break-even purchase price
Even a deep discount doesn't get this deal to break even within a realistic range, so there's no price anchor to negotiate toward. A price-disciplined buyer should pass unless the revenue assumptions change.
For a buyer who materially participates and qualifies for the STR tax treatment.
$120.9K
Estimated first-year deduction · range $100.3K–$137.8K
Why this matters here
At a marginal bracket, this deduction can be worth $37.1K–$51.0K in estimated federal tax saved.
This only applies if you meet the IRS material-participation tests for short-term rentals and are not using a full-service property manager.
Estimate, subject to CPA review. Cost-segregation percentages shown here are illustrative and depend on an actual study of the property.
Some states do not conform to federal bonus depreciation, so your state may not allow the same first-year treatment shown above.
Chalet can introduce a cost-segregation partner — this is not tax, legal, or financial advice.
How cash-on-cash return moves with purchase price. The marked line is break-even (1.0 DSCR).
At this price: cash-on-cash +15.5%, DSCR 1.78, cash flow $22,889/yr
| Price vs asking | Price | Cash-on-cash | DSCR | Band |
|---|---|---|---|---|
| -25% | $366,975 | 26.2% | 2.37 | Positive |
| -22% | $381,654 | 24.6% | 2.28 | Positive |
| -15% | $415,905 | 21.3% | 2.10 | Positive |
| -8% | $450,156 | 18.4% | 1.94 | Positive |
| Asking | $489,300 | 15.5% | 1.78 | Positive |
| +8% | $528,444 | 13.1% | 1.65 | Positive |
| +15% | $562,695 | 11.1% | 1.55 | Positive |
Break-even price
Out of range
This deal does not reach break-even within ±25% of asking.
Discount needed
—
The gap between asking and the price a cash-flow buyer can underwrite.
If refi to 5.5% in 24 mo
+$4,294/yr
Illustrative cash-flow improvement at asking price if rates fall. Planning figure, not a forecast.
Annual avg $6,541 · peaks at $8,647 in Feb
Annual avg 65% · peaks at 83% in Mar
$1,907/mo after all expenses
Cash to close
Down payment, closing costs, and furnishing
$141,897
Return on cash:33.4%
You qualify for STR financing
Your DSCR is 1.78 · lenders typically require 1.0+.
Get matched with 2–3 vetted STR lenders, free.
What the deal returns over the hold — including the tax shield, which is the whole point for an appreciation buyer.
Levered IRR
34.9%
over 5-yr hold, with tax shield
Equity multiple
2.9×
total proceeds vs. $141,897 invested
Projected value at exit
$624,485
year 5 · 5.0% annual appreciation
Tax shield contribution
+9.0 pts
of IRR comes from year-1 depreciation
| Year | Equity | Appreciation | Cumulative cash flow | Total value |
|---|---|---|---|---|
| Year 1 | $126,053 | $24,465 | $67,606 | $218,124 |
| Year 2 | $130,050 | $50,153 | $91,673 | $271,876 |
| Year 3 | $134,336 | $77,126 | $116,934 | $328,396 |
| Year 4 | $138,932 | $105,447 | $143,408 | $387,788 |
| Year 5 | $143,861 | $135,185 | $171,114 | $450,159 |
Projection, not a promise.
Assumes 5.0% annual appreciation, 1.5% rent growth (operating costs held flat), and that the property qualifies for short-term-rental tax treatment. The year-1 depreciation shield depends on a real cost-segregation study and your tax situation — consult a CPA.
Appreciation is the dominant driver of this return. When cash flow is negative, the deal depends on the property gaining value — it is not paying for itself from income.
Appreciation, rent growth, and financing rates are editable under Edit financials.
STR deals turn on local rules and demand that a generalist agent misses. Chalet matches you with a vetted Treasure Island agent who knows which properties actually cash flow — and which to avoid.
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This analysis is generated by Chalet's Airbnb Calculator
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Real Estate Investment Analysis & Market Insights
Disclaimer
This page and the data presented are for informational purposes only. The information provided should not be construed as financial, legal, or investment advice. Market conditions can change rapidly, and past performance does not guarantee future results. Always consult with qualified professionals before making investment decisions.
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