Case Study: Shenandoah Wildflower
Welcome to Shenandoah Wildflower, a designer-decorated home in Massanutten. With 7 bedrooms, the Wildflower sleeps 18 comfortably. Enjoy the huge deck with hot tub and sauna. The lower level boasts a lounge area for the adults plus a separate kid game room.
- Category : Massanutten
- Website : https://tinyurl.com/shenandoah-wildflower
New Investor Guidance & Execution
“Shenandoah Wildflower” was purchased by clients of ours, Noah & Candice, in June 2023. Initially a 5 bed, 3 bath house in Massanutten, the home had never before been rented out, so there are no “before” revenue figures to speak of. The property had a spacious 3400 sq ft, but also had a two car garage and an unfinished bedroom-sized storage room. The Goldenbergs hired us to coordinate the renovation, furnishing, and staging of the property, in addition to managing it post-launch. We opted for an aggressive renovation, using the garage plus unfinished storage area to convert the home to a 7 bed, 4 bath house with an additional kid game room. Additionally, the deck is being expanded to accommodate a hot tub, and the entire home will be designer decorated.
Before

After

Before

After

Projected Numbers
They purchased the home for $621k (a great deal for a property with this much potential) but opted for a large upfront renovation and furnishing expense of ~$215k. The property launched in Fall 2023, and the annual revenue pace they are seeing is ~$245k. The owners were not eligible for conventional financing and thus used a DSCR loan with 25% down, so they were all in for about $365k including closing costs, renovation, furnishing, setup costs, etc. With projected annual expenses of $139k, the investment will net them an annual profit of $106k before tax, which is a 29% cash-on-cash return. This is after paying New School Hosting, making this an entirely passive investment.
Projected Annual Revenue
$245k
Estimated Annual Profit Pre Tax
$106k
Estimated Cash on Cash Return
29%
“We are new to short term rental investing, but Chris gave us a clear path forward. He connected us with the right realtor, lender, designer, and contractors to make our property stand out. New School Hosting knows the short term rental business inside and out, and we are confident our investment is in good hands with Chris & James. We’re already planning our next investment with them!” – Noah & Candice
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