St. Simons Island Home - The Epitome of Grandeur
adjust possible shares to see calculations for more or less people
$3,900,000
target home price
$487,500
cost per share
$4,282 / mo
monthly cost
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CASH AT CLOSING PER SHARE
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|
Down Payment
$97,500
|
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Closing Cost
$29,250
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Reserve Fund Deposit
$14,625
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Total Cash at Closing
$141,375
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Details
7 bedrooms
| 8,726
sqft
Discover the epitome of grandeur nestled in the prestigious gated community of Frederica Golf Club. This custom-built masterpiece, bathed in natural light, effortlessly combines elegance with practical living. Generous rooms adorned with large automated windows present you with breathtaking water views and vistas of a meticulously manicured landscape. A special charm lies in the property's exterior siding, crafted from 'tabby,' a distinctive material native to southern Georgia, imbued with sea shells, exuding a unique, impressive allure. Step into the heart of the house, where the gourmet kitchen, boasting a wine cellar, invites you to entertain and create culinary delights. The home extends over six bedrooms, all featuring en suite bathrooms, supplemented by a separate guest apartment equipped with a full kitchen and living room. French oak hardwood floors add an understated elegance, while an all-season sunroom lets you bask in the beauty of changing seasons. Additional luxuries include an office, a library, and an elevator shaft, ensuring all your needs are met in style. Your comfort is paramount, with a generator, an air-conditioned three-car garage, and a central vacuum system in place. The home's potential is further amplified by the possibility of adding a large swimming pool. The exclusive community offers an array of amenities, with an optional golf membership and a low HOA fee of $4700 per year. Situated in a prime X flood zone location, this estate promises security and serenity, making it an idyllic setting for crafting unforgettable memories. Take a virtual tour and explore the attached floor plans for a more detailed view. Videos will be available soon to give you a more immersive experience. Don't hesitate to come and tour this extraordinary home - it's the perfect canvas for your dream lifestyle.
House Usage
- 8 shares total
- 6 weeks a year per share
Amenities
- Fire place
- Waterfront
About the Agent
Georgia Usry
DeLoach Sotheby's International Realty
Georgia Usry
DeLoach Sotheby's International Realty
Georgia offers a powerful combination of high-level customer service and impressive negotiating skills to ensure every client finds a home as unique as they are. A graduate of the University of Georgia School of Public and International Affairs, Georgia spent twenty years in investment banking with Merrill Lynch and First Union Capital Markets. She began her career in real estate after moving to Baltimore, MD. She came to the Golden Isles from Baltimore as a top producer with Monument Sotheby’s International Realty. Georgia has dedicated herself to a variety of philanthropic endeavors and loves community involvement. She previously served on the UGA Parents Council. Locally she is a member of the Live Oak Society of the St. Simons Land Trust, the Coastal Georgia Historical Society, 100 Women Who Care, and supports the Golden Isles Youth Orchestra. She is also an active member of the GCA Greenspring Valley Garden Club. Georgia is also involved with the non-profit organization, Honor Flight. Born and reared in Augusta, GA, Georgia has been a visitor to St. Simons and Sea Island all her life. She along with her daughter Carolyn, a recent graduate of UGA, love making the Golden Isles their new home.
Calculated Costs per Share
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$97,500
|
|
Closing Cost
$29,250
|
|
Reserve Fund Deposit
$14,625
|
|
Total Cash at Closing
$141,375
|
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
$2,862
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Insurance/Taxes
$528
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Repairs
$406
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Maintenance
$406
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Utilities
$51
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Cleaning
$28
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Total Expenses
$4,282
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ESTIMATED MONTHLY INCOME PER SHARE
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Monthly Income
$4,875
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Total Monthly Income
$4,875
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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.