Renovated Desert Home with Incredible Views
adjust possible shares to see calculations for more or less people
$949,000
target home price
$237,250
cost per share
$2,204 / mo
monthly cost
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$47,450
|
|
Closing Cost
$14,235
|
|
Reserve Fund Deposit
$7,118
|
|
Total Cash at Closing
$68,803
|
Details
3 bedrooms
| 2 bath
| 1,434
sqft
TURN-KEY & FULLY FURNISHED! Gorgeously Renovated Joshua Tree Highlands Home With Solar and a View That Rivals Those Found In The National Park! Resting on over 2 acres of prime Hi-Desert land surrounded by lush cacti, Joshua Trees, and other native desert vegetation you find a one of a kind location with a view that will truly move the spirit. Mere minutes to the Joshua Tree National Park and neighborhood hiking areas including Coyote Hole and Quail Mountain as well as a short drive to restaurants, hip shopping, and other local attractions, you won’t find a better location! Pulling up to the grounds you’ll feel a weight has been lifted off your shoulders as you’re hit with a soft summer breeze, surrounded by a backdrop only found in paintings. You’ll feel a transformation as you experience peace and solitude this area is known for! Walking through the front door of this 3 bed 2 bath home you’re greeted by concrete flooring a modern and open floor plan full of natural light that creates a light and airy feeling throughout. The modern renovated kitchen opens to the living area perfectly designed with entertaining in mind. Beautifully redone, it includes large center island, mosaic backsplash, wood shelving, oven, microwave, refrigerator, and dishwasher! The guest bathroom features a full bathtub, shower, and modern vanity. Each guest bedroom has plenty of space with window views! The large master bedroom comes equipped with modern lighting, ceiling fan, and an abundance of windows that really take advantage of the view! In the master bathroom you’ll be blown away by the large tiled walk in shower and hip stylistic features! Even more, you’ll find the bonus room full of windows and large enough for a home office, gym, or yoga studio! The backyard sanctuary is complete with courtyard, modern wood fencing, and mature shade trees! The multiple patios are perfect for enjoying the peaceful desert tranquility, watching the stunning sunrises/sunsets, unrivaled star-gazing with 360 degree views of the night, or watching the desert animal’s frolic from your 6 seat jacuzzi! If you are looking for that perfect vacation home, primary residence, or short-term/long-term rental, look no further! Save money with a FULL SOLAR system included in the sale! Additional features include dual pane windows, all appliances, furniture, stacked washer & dryer, HVAC for heating and air conditioning, recessed lighting, private driveway, and more!
House Usage
- 4 shares total
- 13 weeks a year per share
Amenities
- Bonus room
- Hot tub
- Porch
About the Agent
Paul Karr,
Cherie Miller & Associates.
Paul Karr,
Cherie Miller & Associates.
I have been an active full time Agent since 2008, I absolutely love the area and what I do. Since the beginning of my career I have always made myself available 7 days a week, because I know each person I deal with has a schedule, family, and other obligations that might make looking for a Home a little difficult. I also have 5 office locations in Yucca Valley, Joshua Tree, 29 Palms, Palm Springs and Morongo Valley in order to be more considerate regarding my clients travel time and expenses.
Calculated Costs per Share
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$47,450
|
|
Closing Cost
$14,235
|
|
Reserve Fund Deposit
$7,118
|
|
Total Cash at Closing
$68,803
|
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
$1,393
|
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Insurance/Taxes
$257
|
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Repairs
$198
|
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Maintenance
$198
|
|
Utilities
$103
|
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Cleaning
$56
|
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Total Expenses
$2,204
|
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ESTIMATED MONTHLY INCOME PER SHARE
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Monthly Income
$2,373
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Total Monthly Income
$2,373
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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.