Coastal Beach Home & Poolside Paradise
adjust possible shares to see calculations for more or less people
$2,550,000
target home price
$637,500
cost per share
$5,654 / mo
monthly cost
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$127,500
|
|
Closing Cost
$38,250
|
|
Reserve Fund Deposit
$19,125
|
|
Total Cash at Closing
$184,875
|
Details
5 bedrooms
| 6 bath
| 3,149
sqft
This modern coastal beach house has been fully remodeled. Rentals for 2022 over 245K and 100K bookings already for 2023. Located a block from the beach and sold fully furnished. Professionally decorated with a fresh Coastal Design. The resort style, private pool has been resurfaced and features a large pool deck, pool bath and Meme's Bistro poolside cabana with sitting and kitchen area. Once inside, it offers an open floor plan and an abundance of natural light which makes for an amazing entertaining and gathering place. The kitchen is simply stunning, with a quartz-topped bar and casual seating that allows for easy conversation. The sea glass-inspired backsplash combines to create a chic, stylish, and efficient space. The living area opens to a full-length furnished balcony adding to the the open living space to enjoy the gulf breezes.
The Main Bedroom suite is the perfect place to escape and unwind. The master is spacious enough to include a sitting area with a Pottery Barn queen-size sleeper sofa opening to the Balcony. The spa-like ensuite main bath features a gorgeous double marble vanity and a step-in glass shower.
Four bedrooms have their own private bathrooms, ideal for families and large groups. When you're ready to hit the beach, slip on your flip-flops and stroll about 100 yards to the sandy shore. Or perhaps you'd prefer to spend the afternoon in your very own private, outdoor poolside paradise in your backyard. The turquoise, lagoon-shaped, sun-drenched pool is surrounded by lots of lounge chairs and alfresco dining tables. There's also Meme's Kitchen a bonus kitchen and bar area that's perfect for preparing meals, snacks, and cocktails poolside. Located in the Palm Tree lined community of Frangista Beach. Strong Rental History Over 240K payout for 2022 and over 100K bookings already for 2023.
House Usage
- 4 shares total
- 13 weeks a year per share
Amenities
- Hot tub
- Pool
- Porch
About the Agent
Katie Atwater
Premier Property Group
Katie Atwater
Premier Property Group
Whether you are looking for an excellent investment opportunity, a second home in one of the most beautiful vacation destinations or have the opportunity to live here full time and are looking for the perfect place to call home, we would appreciate the opportunity to work with you! Mike Henderson and I work together full time and are available to answer any questions you may have. Luxury primary and secondary homes as well as investment opportunities along the Emerald Coast of Northwest Florida is our primary focus. With an office location in Destin and Grayton beach, we service Bluewater Bay, Destin, Sandestin Resort and the communities along the Scenic 30A corridor to Rosemary Beach.
Calculated Costs per Share
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$127,500
|
|
Closing Cost
$38,250
|
|
Reserve Fund Deposit
$19,125
|
|
Total Cash at Closing
$184,875
|
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
$3,742
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Insurance/Taxes
$691
|
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Repairs
$531
|
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Maintenance
$531
|
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Utilities
$103
|
|
Cleaning
$56
|
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Total Expenses
$5,654
|
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ESTIMATED MONTHLY INCOME PER SHARE
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Monthly Income
$6,375
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Total Monthly Income
$6,375
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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.