Private Catskills Getaway
adjust possible shares to see calculations for more or less people
$769,000
target home price
$192,250
cost per share
$1,816 / mo
monthly cost
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$38,450
|
|
Closing Cost
$11,535
|
|
Reserve Fund Deposit
$5,768
|
|
Total Cash at Closing
$55,753
|
Details
3 bedrooms
| 3 bath
| 3,038
sqft
CUSTOM (2000) TIMBER FRAME in beautiful New Paltz, & w/ in-ground pool! Private 2.7 acres on cul-de-sac in idyllic neighborhood. No detail spared! Huge living room w/ 25-foot ceiling supported by a hammerbeam truss. 2 story stone fireplace w/ soapstone woodstove on other side; cathedral ceilings & hardwood floors throughout. Main floor master suite w/ clawfoot tub & shower. Chef's kitchen w/ soapstone counters, double wall ovens, butcher block island. Closets everywhere! More living/office space above garage & in basement (9 ft ceilings!). Cedar siding; oversized, heated garage; 18x40 heated saltwater pool (2011) surrounded by bluestone patios/walkways. Private hot tub outside master suite. Well maintained by orig. owners (2022 ductless AC/Heat unit; 2021 New boiler & fridge; 2020 New washer; 2017 Commercial grade gutters); Generator/panel hookup; Reverse osmosis water filter; Storage sheds. Mature landscaping w/ perennial/woodland gardens. So much to do in gorgeous New Paltz area!
House Usage
- 4 shares total
- 13 weeks a year per share
Amenities
- Fire place
- Hot tub
- Pool
- Porch
About the Agent
DEAN DILTZ
The Green Team
DEAN DILTZ
The Green Team
Warwick native DEAN DILTZ is a multi-million dollar producer with The Green Team (residential, commercial or rentals -- buyers, sellers, business owners, landlords, tenants), and is very passionate about real estate and helping clients with their exact needs. Dean's priorities are COMMUNICATION & RESPONSIVENESS (working with you every step of the way so there's no guessing games, as well as actually answering the phone . . . or calling you back quickly!), LISTENING to your specific needs and concerns (and always offering suggestions to improve), and HONESTY & INTEGRITY (those need no further explanation).
Calculated Costs per Share
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$38,450
|
|
Closing Cost
$11,535
|
|
Reserve Fund Deposit
$5,768
|
|
Total Cash at Closing
$55,753
|
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.
|
ESTIMATED MONTHLY EXPENSES PER SHARE
|
|
Mortgage Payment
$1,129
|
|
Insurance/Taxes
$208
|
|
Repairs
$160
|
|
Maintenance
$160
|
|
Utilities
$103
|
|
Cleaning
$56
|
|
Total Expenses
$1,816
|
|
ESTIMATED MONTHLY INCOME PER SHARE
|
|
Monthly Income
$1,923
|
|
Total Monthly Income
$1,923
|
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.