Top of the Woods in AZ!
adjust possible shares to see calculations for more or less people
$624,900
target home price
$156,225
cost per share
$1,505 / mo
monthly cost
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CASH AT CLOSING PER SHARE
|
|
Down Payment
$31,245
|
|
Closing Cost
$9,374
|
|
Reserve Fund Deposit
$4,687
|
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Total Cash at Closing
$45,305
|
Details
3 bedrooms
| 3 bath
| 2,363
sqft
Available for the first time, this custom home in the Top of the Woods offers no HOA and allows short-term rentals. Beautiful decks beckon to peaceful, outdoor living with views of mature trees and wildlife that visits often. This extraordinary home has many options for someone looking for a primary residence, second home or investor. The interior features 3 bedrooms, 2.5 baths, and a large loft with an outside deck for privacy. The floor to ceiling fireplace is a focal point for the open floor plan which is accented by T&G ceilings, bamboo flooring, and a enormous 2-car garage. The kitchen granite counters with stainless steel appliances accent the alder carpentry. Beautiful NEW flooring in kitchen. This beautiful mountain home with no through traffic and close to Woodland Park
House Usage
- 4 shares total
- 13 weeks a year per share
Amenities
- Fire place
- Porch
About the Agent
Jon Heiskell
All Seasons Properties
Jon Heiskell
All Seasons Properties
I have lived full time here in the beautiful White Mountains of AZ for the since 2000. I am a full time Real Estate agent and really enjoy my work. It gives me the greatest pleasure helping people find their dream cabin in the pines or finding a buyer for one of my wonderful listed properties. I am a native of Arizona and have lived in Phoenix, Tucson, the Verde Valley and now in the White Mountains. Before moving to the White Mountains, my background was in the homebuilding industry, from building homes to outside sales of building products, including roofing and waterproofing products. It was perfect training for the real estate industry, because it gives me great personal knowledge of the process from buying land to building a quality home. Since becoming a Realtor, through training and classes over and above the standard renewal hours, I have achieved the designations of Associate Broker. Accredited Buyers Representative (ABR) and Short Sales and Foreclosures Resource (SFT).
Calculated Costs per Share
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$31,245
|
|
Closing Cost
$9,374
|
|
Reserve Fund Deposit
$4,687
|
|
Total Cash at Closing
$45,305
|
This is an estimate of the amount of cash needed when closing on the purchase of a property financed with a 30 year Mortgage at 8.0% interest rate.
Plum’s estimate includes 20% of the value of the house as a down payment, 6% of the value of the house for closing costs (including Plum’s Group Success Fee) and 3% of the value of the house for the initial reserve fund.
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ESTIMATED MONTHLY EXPENSES PER SHARE
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Mortgage Payment
$917
|
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Insurance/Taxes
$169
|
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Repairs
$130
|
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Maintenance
$130
|
|
Utilities
$103
|
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Cleaning
$56
|
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Total Expenses
$1,505
|
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ESTIMATED MONTHLY INCOME PER SHARE
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Monthly Income
$1,562
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Total Monthly Income
$1,562
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A good threshold for rental property investment is the 1% Rule (source). It states that you should only invest in rental property if you are reasonably confident that the property can rent for 1% of the sale price per month.
We’ve included that assumption here. It is critical that the group validate pricing, rental history, and future rental projections of any specific property before proceeding with a purchase. You can explore rental incomes of any property with this free estimation tool at Rabbu.com.