adjust possible shares to see calculations for more or less people
$1,150,000
target home price
$287,500
cost per share
$2,637 / mo
monthly cost
Active
status
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$57,500
|
|
Closing Cost
$17,250
|
|
Reserve Fund Deposit
$8,625
|
|
Total Cash at Closing
$83,375
|
Details
5 bedrooms
| 4 bath
| 2,505
sqft
Make this modern, luxury, to be built, custom coastal home yours! Coastal accents and charm will delight you from this second row, ocean view property on the island of Ocean Isle Beach. Though just across from the beach access, the view of the ocean and the sound of its surf may have a tough time beckoning you from the comfort of this resort, reverse floor home plan. Its design capitalizes on those sparkling ocean waters and open sky - both inside and on its huge open decks.
Irresistible open living spaces for the enjoyment of family and the making of memories; and five bedrooms to accommodate all! And of course, a back yard pool to bask out by or to escape the southern exposures and to enjoy laid-back living by night.
Finishes to include - Composite exterior siding, Board and Batten accents; aluminum metal roof with seamless gutters and piped storm-water system; high impact windows; Rinaii Tankless water heater; three stop elevator; luxury 7-¼ base boards, craftsman trimmed windows; stainless steel Farmhouse sink; granite counters; luxury vinyl plank flooring throughout except tile in bathrooms and laundry, and more.
This resort-like property on Ocean Isle Beach is perfect for getaways or everyday living, or as a strong income investment property!
Ocean Isle Beach is a special place, loved by the families that have made it their home or home away from home. A beautiful beach and a loved town with great infrastructure and amenities- youth park, concert venue, ocean front community center, pier, boat launch, island dining- just a wonderful place. A great island, neighborhood, and home at a great price!
House Usage
- 4 shares total
- 13 weeks a year per share
Calculated Costs per Share
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$57,500
|
|
Closing Cost
$17,250
|
|
Reserve Fund Deposit
$8,625
|
|
Total Cash at Closing
$83,375
|
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
$1,688
|
|
Insurance/Taxes
$311
|
|
Repairs
$240
|
|
Maintenance
$240
|
|
Utilities
$103
|
|
Cleaning
$56
|
|
Total Expenses
$2,637
|
|
ESTIMATED MONTHLY INCOME PER SHARE
|
|
Monthly Income
$2,875
|
|
Total Monthly Income
$2,875
|
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.
- List Company
- A Pearl in a Shell
- Last updated at
- September 8th, 2023
- List Agent
- Listings Access
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