Finished - Livable SqFt: 2,950 @ $109 SqFt = $322,051
Shop SqFt: 1,250 @ $65 SqFt = $78,000.
Land: Front (flat) 5 acres: @ $2,800 = $14,420.
Land: Back (forest) 10 acres: @ $1,050 = $10,500.
Contents 'Turnkey' List: $53,480.
Plus standard 6% Real Estate Agents' Commission.
1.) Average of six most similar (residential) property on the market, June 2018, is $140.50 a Sq Ft:
Making ours $544,377.
2.) Average of ALL (18) residential cabins within a 100 mile radius, June 2018, is $120.16 a Sq Ft:
Making ours $484,984.
3.) Average of three recently sold in Holladay, Tn (resid.) property on market, is $162.66 a Sq Ft:
Making ours $609,084.
An average square foot on the averages from above (1.2.3.) give $141.11 a Sq Ft.
Making ours suggested list price $546,149. Our asking price is $46,649 below.
Average of three recently sold land, is $1,692.22 per acre : Making our land $25,637.
The house is not a ‘Spec’ house, as most of the comps are. It is ‘Custom’ built. Furthermore we have used top quality, highest energy rated materials.
We have an established successful turn-key business onsite with documented earnings since 2011.
View DETAILS here:
Business : Net Profit : in 2017 operational cost was less than 10%. Net profit was over $35,000 : actual expenses to follow (prop tx, utilities, DirecTV, insurance, supplies, media/web).
Growth Trends : Realistically, cabins could easily produce 30% to 45% more income. (winter months closed (110 days, Dec 1st through March 20th), and 90% occupancy during ‘peak’, June 1st through Sept 15th, 107 days.) Also, Enough property for expansion. Last building’s profits (RED + BLUE-fish duplex) paid off the entire building in 16 months.
Website Traffic : 2017 we received $152,000 hits. We are the first page in Google searches.
Age of Business :
in operation since 2012 (6 years).
Business Model :
Nightly vacation rental business, farm, possible boutique, soaps, art + knick/knack sales.
Niche : We created a destination spot for ‘glamping’. 16 miles from Loretta Lynn ranch + Patsy Cline memorial crash site. 6 boat docks with 10 miles. Tennessee River 1 mile away (under I-40). 3 Rivers within 12 miles. National Duck Reserve across street = no major / industrial building is going to be done
(the West side of the Tn river is pristine
and will stay that way).
Competitors : Our competitors (Birdsong Marina, L.L. Ranch, Buffalo River Resort, Tennessee Mountain Getaways), on average, charge more and over an a differnt product. We are priced 20% less than the local average nightly rate.
Another avenue for higher profit margin.
Company Assets : (5) refrigerators, (1) freezer, (2) large capacity washer/dryer sets, (5) A/C + heating units, (5) flat screen TVs, (3) fully stocked Kitchens, (3) fully stocked Bathrooms, (8 beds) 2 complete sets of bedding for each, (1) King bed, (2) Queen beds, (1) Full futon, (1) DAY bed with Twin trundle, (2) Sleep Sofa, (2) Twin foam (boat grade) mattresses, (5) Inflatable Mattresses, (3) Extra Day beds/trundle. (4 buildings) Fixtures/Furniture, BBQ grills/Fire rings, Picnic Tables/porch chairs, Chicken coop, Above-ground salt water swimming pool (32’x16’x54”) with solar heating, deck + stairs. Dollar amounts and more assessts to follow.
While some are better, more have lesser
quality materials and design or much older. Things to consider which were not a factor
in our above square footage price :
1.) Ours has three (3) documented income generators (commercial). In 2017 earned $36,811 on rental alone
2.) Ours has ‘green-belt’ status (15.15 acres), which only #1 of the above has. This is a 25% savings on property tax and 100% sales tax savings on farm purchases. We are listed as “Forest” not “Commercial” property, meaning more savings on property tax. As a business / farm you can also apply for sales tax exemption with stores (10% savings).
3.) Our property is within the ‘Tennessee Resort District’, which only #3 of the above has. This means our can operate a liquor store or full-service, by the drink establishment without any hassle for local government. We are out of the city limits, making any commercial venture easier.
4.) We are the only property which has the main electrical line buried.
Unique features of property: purified water treatment system, security cameras and recover, asphalt driveway, brew-room, salt-water pool, main house + workshop on concrete slab, Custom shelving/closets/lighting/nooks,