Emerald Isle Gem with Ocean Views and Confirmed Bookings!
adjust possible shares to see calculations for more or less people
$1,214,000
target home price
$151,750
cost per share
$1,387 / mo
monthly cost
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CASH AT CLOSING PER SHARE
|
|
Down Payment
$30,350
|
|
Closing Cost
$9,105
|
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Reserve Fund Deposit
$4,553
|
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Total Cash at Closing
$44,008
|
Details
3 bedrooms
| 3,181
sqft
This BEAUTIFUL 5th row ocean side home located in the heart of Emerald Isle has it all! Perched on a high lot, ocean views can be seen from the living room & kitchen. This incredibly unique Emerald Isle home consists of three bedrooms, four baths, & AMAZING in law suite, and has plenty of room for all to enjoy! The upper level of the home has an expansive primary suite, with an additional sitting area, large primary bathroom, with it's own laundry room as well. Bedrooms two and three are down the hall, with two full sized baths. The updated kitchen has custom cabinets, quartz countertops, a spacious island & stainless steel appliances including gas range. The kitchen flows into the oversized dining room creating a perfect combo for entertaining friends & family! The living room has vaulted ceiling which gives a bright & airy feel, with beautiful natural light from all the windows. The lower levels consists of the in law suite, a second laundry room, kitchenette with cream colored cabinets, granite countertops, stainless steel appliances, comfy flex space, spacious bedroom w/king sized bed & a full bath. What a treat for your guests! Escape to the privately fenced backyard to enjoy the in ground salt water pool (can be heated too) , hot tub & pergola for additional enjoyment. When you're ready to hit the beach, it's just a short walk to the end of the street. There is also a 1000 lb cargo lift for additional ease of carrying items in or out. There is so much great space all around the property to enjoy, including ample storage, and an outdoor shower. With close proximity to town, you'll love the bike paths, restaurants & shops as well. This home would make a great primary, secondary or investment property. It currently is on the vacation rental market with Vrbo/Airbnb and has for the 2023 season $95k in confirmed bookings! This move in ready home truly has it all! Come take a look and see how life is always better at the beach!
House Usage
- 8 shares total
- 6 weeks a year per share
Amenities
- Hot tub
- Pool
- Porch
About the Agent
Carey Otto
Keller Williams Crystal Coast
Carey Otto
Keller Williams Crystal Coast
Having received my real estate license in 2016, I started my career at the coast of North Carolina, specializing in second homes & investment properties. I enjoy helping buyers on their journey of fulfilling a dream of owning property in our quaint coastal communities, and equally I love working with sellers to receive top dollar for their homes. With a client-first mentality, I will put my expertise, tenacity, and love of negotiating at the forefront of our relationship. Lastly, I value the relationships that I cultivate with my clients not only during their transaction, but even after. I truly appreciate being apart of their journey and caring for them.
Calculated Costs per Share
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$30,350
|
|
Closing Cost
$9,105
|
|
Reserve Fund Deposit
$4,553
|
|
Total Cash at Closing
$44,008
|
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
$891
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Insurance/Taxes
$164
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Repairs
$126
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Maintenance
$126
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Utilities
$51
|
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Cleaning
$28
|
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Total Expenses
$1,387
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ESTIMATED MONTHLY INCOME PER SHARE
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Monthly Income
$1,518
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Total Monthly Income
$1,518
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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.