Turnkey Oceanfront Investment: Holden Beach, NC
adjust possible shares to see calculations for more or less people
$5,200,000
target home price
$520,000
cost per share
$4,546 / mo
monthly cost
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CASH AT CLOSING PER SHARE
|
|
Down Payment
$104,000
|
|
Closing Cost
$31,200
|
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Reserve Fund Deposit
$15,600
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Total Cash at Closing
$150,800
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Details
12 bedrooms
| 5,990
sqft
Fully Updated Oceanfront Income Producer with over $306k already booked in 2023, $350k in 2022 & bookings already for 2024! Located in the private gated community of Holden Beach West, this stunning 12BR/12BA home sleeps up to 32 guests, with over $800k of upgrades since 2021, including a new metal roof (50-yr warranty), new interior paint, (2) tankless hot water systems, all new furniture, adjustable bedding, & appliances, new LVP flooring, Advantech decking, & so much more. Pet & Smoke Free. A true turnkey investment property, this luxury home has magnificent views of the Atlantic Ocean from the minute you walk through the front door, and picturesque sunsets over the Intracoastal Waterway from the front porch & upper balcony. The elevator (new one to be installed 2023) goes to all levels, with the first floor boasting an open-concept family/dining room with 70'' HDTV, kitchenette, double washer/dryer combo, and 6 bedrooms each with their own private, fully updated bath. The second floor features a large living room, an updated oversized kitchen with new cabinets and granite countertops and outfitted with all new appliances including (2) 5-burner cooktops with ovens, (2) full-size refrigerators, (2) microwaves, and (2) dishwashers, as well as (3) dining room tables. Completing the upper level are another 6 bedrooms, each with their own private, fully updated bath. Four (4) of the 12 bedrooms have sliding doors to oceanfront decks. Throughout the exterior of the property and surrounding the private in-ground pool, you will find newly installed low-maintenance and long-lasting Advantech composite decking and railing systems, along with all new outdoor amenities including extensive new deck furniture, seating, picnic tables, ping pong table, pergola, and (2) propane grills. Start earning proven rental income day 1 of ownership by scheduling a tour of this magnificent home today, & see why Holden Beach is recognized as one of America's premier family beaches.
House Usage
- 10 shares total
- 5 weeks a year per share
Amenities
- Fire place
- Pool
About the Agent
Craig D'Egidio
BlueCoast Realty Corp
Craig D'Egidio
BlueCoast Realty Corp
As a Realtor, I understand that buying or selling a home is more than just a transaction, it’s a life changing experience. That’s why I'm dedicated to providing exceptional, personalized service for all my clients. My attention to detail, market knowledge communication skills, and accessibility allow you to feel as if you're my only client. I commit to providing constant communication with the highest level of professionalism. Through technology and teamwork, I strive to get the job done no matter what the obstacle, allowing my clients' peace of mind from start to finish. Redfin allows me to do what I enjoy, with a company that provides a wealth of support and resources. As a real estate professional, my goal is to make the home buying process as easy as possible for all of my clients.
Calculated Costs per Share
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$104,000
|
|
Closing Cost
$31,200
|
|
Reserve Fund Deposit
$15,600
|
|
Total Cash at Closing
$150,800
|
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
$3,052
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Insurance/Taxes
$563
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Repairs
$433
|
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Maintenance
$433
|
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Utilities
$41
|
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Cleaning
$23
|
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Total Expenses
$4,546
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ESTIMATED MONTHLY INCOME PER SHARE
|
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Monthly Income
$5,200
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Total Monthly Income
$5,200
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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.