The Waterfront at Golden Isles Marina
adjust possible shares to see calculations for more or less people
$1,850,000
target home price
$231,250
cost per share
$2,073 / mo
monthly cost
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$46,250
|
|
Closing Cost
$13,875
|
|
Reserve Fund Deposit
$6,938
|
|
Total Cash at Closing
$67,063
|
Details
4 bedrooms
| 5 bath
| 3,311
sqft
10 Marina Drive Unit 314, The Waterfront at Golden Isles Marina is a stunning waterfront condo with panoramic views of St. Simons Sound, Sea Island's Seaside Golf Course and Five Star Lodge, Sidney Lanier Bridge, The Marshes of Glynn, and Jekyll Island . From every room you have a view of the water. Classic Brazilian Cherry Floors, wainscoting on the walls, heavy crown molding, formal dining, granite counter tops with eat in bar area, stainless steel appliances, and a wet bar with ice maker are just a few features of this home. One master bath comes with TV conveniently installed and hidden behind the double vanity mirrors that disappear when the television is off, a large garden tub with separate shower, his and her closets. This unit is equipped with state of the art surround sound which is ideal for entertaining.
House Usage
- 8 shares total
- 6 weeks a year per share
Amenities
- 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
$46,250
|
|
Closing Cost
$13,875
|
|
Reserve Fund Deposit
$6,938
|
|
Total Cash at Closing
$67,063
|
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
$1,357
|
|
Insurance/Taxes
$251
|
|
Repairs
$193
|
|
Maintenance
$193
|
|
Utilities
$51
|
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Cleaning
$28
|
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Total Expenses
$2,073
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ESTIMATED MONTHLY INCOME PER SHARE
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Monthly Income
$2,313
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Total Monthly Income
$2,313
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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.