Finely Appointed Lake Home
adjust possible shares to see calculations for more or less people
$1,250,000
target home price
$312,500
cost per share
$2,853 / mo
monthly cost
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$62,500
|
|
Closing Cost
$18,750
|
|
Reserve Fund Deposit
$9,375
|
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Total Cash at Closing
$90,625
|
Details
2 bedrooms
| 2 bath
| 1,827
sqft
Absolutely unbelievable Lake Buchanan waterfront home on two lots, with a large private beach for ultimate lake enjoyment. A meticulously maintained two-bedroom with breathtaking views from almost any room, two beautifully appointed baths, huge great room and a custom kitchen. The home boasts custom tile and hardwood floors, beautifully crafted cabinetry, upscale appliances and a fireplace! This home was originally built as a three bedroom, but was modified to make room for a music area, could easily be a three bedroom again with the simple addition of one wall. Professionally landscaped the grounds are absolutely stunning with huge oaks, shaded walkways and stone flower beds – there’s even a built-in sprinkler system. There is a private fishing dock, a sundeck, attached three car garage, plenty of storage and a parking/storage area for even the largest of RVs. This property is the ultimate in finely appointed lake homes – come experience lake living at its finest!
House Usage
- 4 shares total
- 13 weeks a year per share
Amenities
- Dock
- Fire place
- Waterfront
About the Agent
Katie Boswell,
Jesse James Real Estate
Katie Boswell,
Jesse James Real Estate
Katie has lived in the Texas Hill Country for over 20 years. She graduated from Llano High School and attended Sul Ross State University where she double majored and graduated with two Bachelor degrees. She is married and is the mother of two amazing boys, aged 8 and 16.Katie is committed to providing her clients with the best possible real estate experience and will respect your time and your interests. Katie’s knowledge of the community and local activities makes her a great asset to our team.Her first priority is YOU and making sure that you are 100% pleased with your sale or your purchase of your dream home.
Calculated Costs per Share
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$62,500
|
|
Closing Cost
$18,750
|
|
Reserve Fund Deposit
$9,375
|
|
Total Cash at Closing
$90,625
|
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
$1,834
|
|
Insurance/Taxes
$339
|
|
Repairs
$260
|
|
Maintenance
$260
|
|
Utilities
$103
|
|
Cleaning
$56
|
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Total Expenses
$2,853
|
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ESTIMATED MONTHLY INCOME PER SHARE
|
|
Monthly Income
$3,125
|
|
Total Monthly Income
$3,125
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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.