Luxury Lake Living
adjust possible shares to see calculations for more or less people
$3,695,000
target home price
$461,875
cost per share
$4,061 / mo
monthly cost
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$92,375
|
|
Closing Cost
$27,713
|
|
Reserve Fund Deposit
$13,856
|
|
Total Cash at Closing
$133,943
|
Details
4 bedrooms
| 3 bath
| 2,254
sqft
Stunning Geneva Lake Views throughout this 4 bedroom, 3 bath Cape Cod Lakefront! Enjoy morning coffee or evening cocktails from 1 of 2 spacious lakefront porches, your private pier or paver patio. 1st floor boasts an open floor plan, large French doors to lakeside porch, stunning stone fireplace, beautiful custom kitchen, large eating area, stone countertops, SS appliances & large island/breakfast bar. 1st floor laundry, bedroom & full bath for convenience. 2nd floor is home to a large master suite w/custom marble tiled bath, 2 additional bedrooms including bunk room for 4 and a 3rd bath. 2nd floor lakeside porch is accessible from all bedrooms giving this home exceptional Lake Views. Automatic weather shutters, paver drive, walks and patio. All Furniture is included! Welcome Home!
House Usage
- 8 shares total
- 6 weeks a year per share
Amenities
- Dock
- Fire place
- Porch
- Waterfront
About the Agent
Tricia Forbeck
Compass
Tricia Forbeck
Compass
You won't find anyone with more knowledge or expertise of the Geneva Lakes area or the willingness to work 24/7 for their client. than Tricia. Notably a higher standard in real estate, there is no substitution for experience. Tricia has been a specialist in listing & selling real estate in the Geneva Lakes, WI area including; Lake Geneva, Linn, Lyons, Fontana, Williams Bay, Walworth, Bloomfield, Delavan, Geneva, and Geneva National neighborhoods since 1999.She grew up on the North Shore of Chicago, IL, and “summered” in Fontana, WI for her first 26 years. She made the Geneva Lake area her full-time home in 1988, relocating along with her 1-year-old son, at the time, Austen. They have spent the last 33 years enjoying all that the Geneva Lakes, WI area has to offer. She became a licensed Realtor® in 1999 and chose Compass, as the company in which she would practice.Tricia is a highly-skilled negotiator who is best able to represent you with attention to detail in every aspect of your sales transaction. Tricia is committed to providing “Truly Remarkable Service” and creating “Clients for Life” by building lasting relationships. By counseling her clients, Tricia will help you achieve your goals, making your dreams a reality. Tricia is dedicated to service and professionalism, with honesty, integrity, and respect. Tricia is experienced and knowledgeable of the Geneva Lakes area homes & condos for sale, as well as surrounding areas.Tricia has over 23 years of experience in Real Estate and sold over $50 million in 2020 and $44 million in 2021. This is accomplished by her “Truly Remarkable Service,” experience, knowledge, and the fact that clients refer Tricia to their friends and families. In order to market your homes effectively, she has kept up with the growing social media resources available.
Calculated Costs per Share
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$92,375
|
|
Closing Cost
$27,713
|
|
Reserve Fund Deposit
$13,856
|
|
Total Cash at Closing
$133,943
|
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
$2,711
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Insurance/Taxes
$500
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Repairs
$385
|
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Maintenance
$385
|
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Utilities
$51
|
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Cleaning
$28
|
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Total Expenses
$4,061
|
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ESTIMATED MONTHLY INCOME PER SHARE
|
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Monthly Income
$4,619
|
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Total Monthly Income
$4,619
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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.