Bermuda · income evidence
Bermuda cap rates: Astra's own formula.
Every cap rate on this page now comes from Astra's purchase model — annual rent less a 10% vacancy allowance, less an 8% management share, less the workbook's $139,756 of first-year ownership costs, over the asking price. Rivals run through that identical formula, so the peer dashboard and the forecast band all read from one source.
The workbook cap rate, applied consistently
$18,000/mo rent · $39,092 net a year
$15,500/mo luxury-house median
$6.82M including duty and licence
Shown only for continuity, not used
Source: Astra 6 purchase model · 11 September 2026 · Summary!B17 · Illustrative rental net after reserve.
Peer cap-rate scenario
Apply one monthly asking rent to every sale peer through Astra's workbook, with only the public ask and statutory licence category substituted. Hollow dots mark the same workbook cap rate at Astra's own $18,000 rent.
Every published asking-rent input
| Listing | Parish | Asking rent | Workbook cap rate on subject ask | Gross ask division | Source |
|---|---|---|---|---|---|
| Soundwinds 5 bed house · furnished | Warwick | $25,000/mo | 1.86% | 5.13% | Published listing ↗ |
| St. Regis Residences — 3 bed 3 bed condo · furnished | St. George's | $30,000/mo | 2.71% | 6.15% | Published listing ↗ |
| St. Regis Residences — 2 bed 2 bed condo · furnished | St. George's | $25,000/mo | 1.86% | 5.13% | Published listing ↗ |
| Tropical Retreat 4 bed house · unfurnished | Devonshire | $15,500/mo | 0.24% | 3.18% | Published listing ↗ |
| Dream Home 4 bed house · unstated | Paget | $15,000/mo | 0.16% | 3.08% | Published listing ↗ |
| West Lane 4 bed house · furnished | St. George's | $8,000/mo | -1.03% | 1.64% | Published listing ↗ |
| Ariel 4 bed house · unstated | Smith's | POA | — | — | Published listing ↗ |
| Shihato 4 bed house · furnished | Pembroke | POA | — | — | Published listing ↗ |
A negative workbook cap rate means the rent does not cover Astra's own $139,756 first-year cost stack at that price.
What these cap rates are — and are not
- Every cap rate here comes from Astra's own purchase model (Summary!B17): annual rent less a 10% vacancy allowance, less an 8% management share, less the workbook's $139,756 first-year ownership costs, divided by the asking price. Peers use that identical formula with only the public ask and statutory licence category substituted.
- Astra's cost stack was built for the subject cottage. Applied to a peer it is a controlled substitution, not a survey of that property's real land tax, insurance or upkeep.
- Bermuda publishes no official residential cap-rate series, so the workbook cap rate is a model output on published asking inputs — not an official printed cap rate or an audited NOI.
- Most sale peers are not simultaneously offered for rent. Their cap rates therefore apply one selected published rent benchmark to each asking price for a controlled comparison.
- These are advertised asking rents on live listings, not signed leases. Bermuda publishes no register of agreed rents.
- Two listings in the sample are advertised POA. They are counted in the sample size and excluded from every average rather than filled in with a guess.
- The branded St. Regis residences bundle hotel service into the rent, so they are not a clean comparable for a private estate.
- The 4.5% prime gross-yield reference is ValueAtlas judgement. Bermuda publishes no yield series to check it against.
- Official rent data is limited to the CPI Rent sub-index (a change series, not a level) and the 2016 Census median of $1,705 a month across all private dwellings.