Illustrative retrospective case study · Not an actual pre-purchase customer analysis, current appraisal, or guarantee

Property case study · Gulf Breeze, Florida

Sea Le Vie

A self-managed, three-bedroom coastal rental with a documented operating history and a substantial post-purchase transformation.

Cash acquisition: $225,000
Renovation + furnishings: $80,000
T12 rental revenue: ~$48,000
Historical occupancy: 70%

Confirmed historical inputFinancial modeling is labeled throughout.

Sea Le Vie open-plan living and dining space

Executive summary

A proven operating history with capital-intensive acquisition economics.

Sea Le Vie is an approximately 1,200-square-foot, three-bedroom, two-bath vacation rental in Gulf Breeze. The property was acquired for $225,000 in cash and received $80,000 in combined renovation and furnishings, bringing known modeled capital to $305,000.

Its trailing 12 months produced approximately $48,000 in rental revenue at 70% occupancy. Guest-paid cleaning fees are separate from that revenue, and the property is self-managed.

On the expected illustrative case, the known operating inputs produce $38,160 in annual NOI and all-cash cash flow, equal to a 12.5% return on known modeled capital. This is an underwriting result—not verified historical profit.

Expected illustrative case

$38,160

Annual NOI and all-cash cash flow

Annual return on $305,00012.5%

Property snapshot

The asset, capital basis, and intended positioning.

Location: Gulf Breeze, Florida
Bedrooms / bathrooms: 3 / 2
Approximate size: 1,200 sq. ft.
Original acquisition: $225,000 · cash purchase
Renovation + furnishings: $80,000 combined
Known capital: $305,000 before undocumented closing or other costs
Positioning: Short-term vacation rental
Management: Self-managed

Historical operating performance

What the trailing 12 months demonstrate—and what they do not.

Gross rental revenue

~$48,000

Confirmed historical input

Trailing 12 months; excludes guest-paid cleaning fees and is not net income.

Occupancy

70%

Confirmed historical input

Supplied historical occupancy.

Implied nightly revenue

$188

Calculated

$48,000 ÷ (365 × 70%). Not a verified ADR; cleaning fees are excluded.

Calculation

365 available nights × 70% occupancy = 255.5 implied occupied nights.

$48,000 trailing-12-month rental revenue ÷ 255.5 occupied nights = $188 implied nightly revenue.

This is a mathematical bridge between annual rental revenue and occupancy—not a platform-reported ADR. The confirmed $48,000 excludes guest-paid cleaning fees.

Revenue scenarios

Three outcomes anchored to Sea Le Vie’s operating record.

Conservative

Total revenue including modeled cleaning fees

$53,575

Illustrative NOI

$31,176

Annual return

10.2%

15% below the documented trailing-12-month room revenue; includes $12,775 in modeled cleaning-fee revenue.

Expected

Total revenue including modeled cleaning fees

$60,775

Illustrative NOI

$38,160

Annual return

12.5%

Uses documented trailing-12-month room revenue as the illustrative baseline; includes $12,775 in modeled cleaning-fee revenue.

Upside

Total revenue including modeled cleaning fees

$67,975

Illustrative NOI

$45,144

Annual return

14.8%

15% above the documented trailing-12-month room revenue; includes $12,775 in modeled cleaning-fee revenue.

This sensitivity range moves rental revenue ±15% around the documented baseline. Each case adds and offsets the same modeled cleaning fees, deducts the $8,400 recurring-cost total, and applies the illustrative 3% platform fee to rental revenue. It is not a market forecast.

Operating assumptions

The expected case, with every modeled expense visible.

All recurring property costs

$8,400

Confirmed historical input

$700 per month × 12; includes taxes, insurance, utilities, routine maintenance and repairs, guest supplies, and other recurring property costs

Cleaning service expense

$12,775

Illustrative assumption

255.5 occupied nights ÷ 3-night assumed stay × confirmed $150 per stay

Platform fees

$1,440

Illustrative assumption

Illustrative 3% of $48,000 rental revenue; paid separately from the $8,400 total and subject to verification of the actual blended rate

Third-party management

Confirmed historical input

Self-managed; owner labor and time are not valued in this model

Total modeled annual operating expenses

$22,615

Expense	Treatment	Basis	Annual
All recurring property costs	Confirmed historical input	$700 per month × 12; includes taxes, insurance, utilities, routine maintenance and repairs, guest supplies, and other recurring property costs	$8,400
Cleaning service expense	Illustrative assumption	255.5 occupied nights ÷ 3-night assumed stay × confirmed $150 per stay	$12,775
Platform fees	Illustrative assumption	Illustrative 3% of $48,000 rental revenue; paid separately from the $8,400 total and subject to verification of the actual blended rate	$1,440
Third-party management	Confirmed historical input	Self-managed; owner labor and time are not valued in this model	$0
Total modeled annual operating expenses			$22,615

Cleaning model

Guests pay a separate $150 cleaning fee and cleaning service costs $150 per stay. The model assumes a 3-night average stay: 255.5 occupied nights ÷ 3 = about 85.2 stays; 85.2 × $150 = $12,775.

The model shows $12,775 of cleaning-fee revenue and an equal $12,775 expense. They offset exactly. Actual stay count and annual cleaning-fee totals have not been verified.

Confirmed expense treatment

The owner-confirmed $8,400 includes taxes, insurance, utilities, routine maintenance and repairs, guest supplies, and other recurring property costs. These categories are not added again. Platform fees are paid separately and modeled provisionally at 3% of rental revenue until the actual blended rate is verified.

All-cash acquisition analysis

Illustrative return using the known capital investment.

Total modeled revenue

$60,775

Calculated

$48,000 rental revenue + $12,775 cleaning fees.

Modeled expenses

$22,615

Calculated

Includes equal cleaning expense and an illustrative 3% platform fee.

Illustrative NOI / cash flow

$38,160

Calculated

Not verified historical profit; all-cash model with no debt service.

Illustrative return

12.5%

Calculated

$38,160 ÷ $305,000; not a guaranteed buyer outcome.

Original acquisition price: $225,000; Confirmed historical input
Renovation and furnishings: $80,000; Confirmed historical input
Known cash investment: $305,000; $225,000 + $80,000; excludes undocumented closing and other costs
Debt service: $0; Illustrative primary scenario is all cash
Rental revenue: $48,000; Confirmed trailing-12-month amount; excludes cleaning fees
Modeled cleaning-fee revenue: $12,775; 85.2 assumed stays × $150; offsets equal cleaning expense
Illustrative annual NOI: $38,160; $60,775 total modeled revenue − $22,615 modeled expenses
Illustrative annual cash flow: $38,160; NOI − $0 debt service; not verified historical profit

The return uses the illustrative three-night average stay and 3% platform-fee rate. Modeled cleaning revenue and expense offset; the result is not verified historical profit.

Strengths, risks & opportunities

What the record supports and what still shapes the decision.

Supported strengths

Documented trailing-12-month rental revenue, excluding cleaning fees, and occupancy provide operating history.
The $80,000 renovation-and-furnishing program created a finished vacation-rental presentation visible in authentic photography.
Cash acquisition removes debt-service pressure from the primary illustrative model.
Three bedrooms and two bathrooms provide a defined guest-capacity starting point for property-level analysis.

Material risks

The actual blended Airbnb/Vrbo platform-fee rate has not been verified; the model provisionally uses 3% of rental revenue.
The $305,000 known capital figure excludes undocumented closing and other initial costs.
Self-management suppresses a cash management fee while leaving owner labor unpriced.
A buyer cannot rely on historical operation as proof of current regulatory eligibility.

Improvement opportunities

Track room revenue and cleaning-fee revenue separately for cleaner ADR and margin analysis.
Maintain monthly expense records by category to replace underwriting allowances with actuals.
Test minimum-stay rules against turnover cost and booking conversion.
Refresh current market and comparable evidence before any future acquisition decision.

Operator review

Sea Le Vie’s economics depend on capital discipline and hands-on operation.

Capital basis

The transformation is part of the acquisition—not an afterthought.

Sea Le Vie required $80,000 in combined renovation and furnishings after its $225,000 cash purchase. That lifts known invested capital to $305,000 before undocumented closing or other costs and materially changes the return denominator. No unsupported allocation of that $80,000 is assumed.

Turnover economics

Cleaning is designed to pass through, not create margin.

Guests pay $150 per stay and the cleaning service costs $150. Under the illustrative three-night stay assumption, both sides total about $12,775 and offset exactly. Actual stay count and annual cleaning totals remain to be verified.

Management model

The documented result reflects self-management.

Sea Le Vie carries no third-party management fee because the owner operates it directly. The model does not assign a value to owner labor. A buyer who will not self-manage should price professional management before treating the illustrative return as transferable.

Intended use & buyer diligence

Historical operation does not replace current verification.

Verification required

This case study does not establish legal approval for Sea Le Vie, a future buyer, or another property. Before purchase, independently confirm each item below with the relevant authority and qualified advisors.

✓Current city and county short-term-rental rules

✓Zoning, licensing, permits, and occupancy limits

✓HOA, covenant, deed, or lease restrictions

✓Lender and insurer permission for the intended use

✓State and local lodging-tax obligations

✓Current property-tax treatment after acquisition

✓Fire, life-safety, parking, and local inspection requirements

✓Whether historical operation is transferable to a new owner

Final operator perspective

A credible operating record, with a return tied to owner execution.

Evidence-positive, diligence-dependent.

Sea Le Vie's documented record combines approximately $48,000 in trailing-12-month rental revenue, 70% occupancy, a self-managed operating model, and a $305,000 known capital basis after renovation and furnishings.

The expected illustrative case produces $38,160 in NOI and all-cash cash flow, or 12.5% on known capital. That result is strongest as a measure of this owner-operated history—not as a promise that another buyer can reproduce it. Self-management, stay length, platform fees, and the completeness of the known capital basis remain material.

For a current decision, the next step is to verify current market evidence, the actual blended platform-fee rate, source statements, regulatory eligibility, and the cost of the buyer's intended management plan. The modeled NOI is not verified historical profit or a guaranteed outcome.

Buyer verification checklist

The questions to answer before relying on the return.

Verify actual annual stay count and cleaning-fee revenue and expense totals.

Confirm occupancy and ADR from source-platform statements.

Review at least 12 months of category-level operating expenses.

Verify the actual blended Airbnb/Vrbo platform-fee rate against the illustrative 3% assumption.

Document average stay length and annual turnover count.

Price professional management if the buyer will not self-manage.

Build a current property-specific comparable set and seasonality view.

Verify intended-use eligibility with every applicable authority.

Add closing costs and all omitted initial cash to the return denominator.

Stress-test downside revenue and unexpected maintenance before purchase.

Your property

See what this level of analysis looks like for a deal you are considering.

The $249 Full STR Acquisition Analysis applies this structure to your submitted property using available market evidence, visible assumptions, financial modeling, risks, diligence questions, and an operator-reviewed assessment.

ANALYZE YOUR PROPERTY — $249 VIEW ILLUSTRATIVE SAMPLE REPORT

This is a retrospective, illustrative acquisition analysis using confirmed historical inputs and explicitly identified modeling assumptions. It was not prepared before Sea Le Vie was purchased, is not an actual customer report or current appraisal, and does not guarantee future revenue, profit, return, or regulatory approval.

Go Far STR Intelligence provides informational analysis and revenue projections only. Projections are estimates based on available information and assumptions and are not guarantees of future revenue or investment performance. This service does not constitute financial, tax, legal, lending or investment advice. Customers should independently verify zoning, permitting, HOA restrictions, insurance requirements, financing requirements and local short-term rental regulations before purchasing or operating a property.