Florida Keys Gem
adjust possible shares to see calculations for more or less people
$1,899,000
target home price
$474,750
cost per share
$4,251 / mo
monthly cost
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$94,950
|
|
Closing Cost
$28,485
|
|
Reserve Fund Deposit
$14,243
|
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Total Cash at Closing
$137,678
|
Details
3 bedrooms
| 3 bath
| 1,440
sqft
Completely Custom single family home nestled in the Heart of Key West. This 3BR/2.5BA home built in 2019 resembles the charming historic look of Old Town Key West homes, but is built to withstand 180 mph hurricane winds with all Impact Windows and Doors, Metal Roof, and Hardie Plank Siding! Why search through 100 year old wood homes when you can get into a Turn Key nearly New Construction home?! This home holds beautiful finishes throughout, a Pool w/waterfall, and a well-landscaped yard to provide the ultimate island oasis.. all just seconds from Duval and a short walk to the best beach Key West has to offer! Don't miss out on this rare find!
House Usage
- 4 shares total
- 13 weeks a year per share
Amenities
- Pool
- Porch
About the Agent
Coby Taylor
Expert Realty
Coby Taylor
Expert Realty
Coby Taylor is a Native Floridian whose family has lived in Florida since the 1800's. When Coby is not working you can find him on the Water living the Key's lifestyle you've been dreaming about for yourself! Coby's expertise on the water makes him the perfect candidate to help you find that special waterfront property you've dreamt of. He can tell you all about the boating from various properties, water depth, bridge heights, and how to get anywhere by boat. Coby has previous experience managing the #1 Real Estate team Keys Wide and now works for the up and coming future powerhouse in Real Estate at Expert Realty. He is in tune with the market, and skilled at crafting an offer to give you the best chance at success. Coby prides himself for listening to his client's needs and giving the best customer service, something that is lacking in today's market. If you choose him as your agent he will represent you with integrity, aggressiveness, and attentiveness.
Calculated Costs per Share
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$94,950
|
|
Closing Cost
$28,485
|
|
Reserve Fund Deposit
$14,243
|
|
Total Cash at Closing
$137,678
|
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
|
|
Mortgage Payment
$2,787
|
|
Insurance/Taxes
$514
|
|
Repairs
$396
|
|
Maintenance
$396
|
|
Utilities
$103
|
|
Cleaning
$56
|
|
Total Expenses
$4,251
|
|
ESTIMATED MONTHLY INCOME PER SHARE
|
|
Monthly Income
$4,748
|
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Total Monthly Income
$4,748
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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.