adjust possible shares to see calculations for more or less people
$3,100,000
home price
$310,000
cost per share
$2,736 / mo
monthly cost
Active
status
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$62,000
|
|
Closing Cost
$18,600
|
|
Reserve Fund Deposit
$9,300
|
|
Total Cash at Closing
$89,900
|
Details
5 bedrooms
| 5 bath
| 2,900
sqft
Let ''Sea Haven'' become YOUR HAVEN! This incredible 5BR/4.5BA oceanfront beach home offers sought-after views of the ocean, a traditional floor plan, and spacious gathering areas. If you believe that quality is in the detail, then look no further, as this is the beach home for you! New roof & spray-in insulation were installed in 2020, with extensive improvements and renovations done in 2021. This home also boasts a built-in air scrubber in its ventilation system. re-finished Caribbean heart pine flooring throughout the home. Four of the bedrooms are master suites. Enjoy 2 different living areas, an open ocean-facing deck on each level and 2 laundry rooms (2nd one is in the garage for post-beach trip convenience). The first floor offers 2 BR suites, each with ensuite BA. Ample living area w/ gas fireplace, dining area, and beautiful kitchen facing the ocean. The second floor offers an additional living area, 2 BR suites with en-suite BA, one of which adjoins a separate bunk room. From built-in book shelves & cubbies to luxuriously tiles bathrooms... this home never disappoints! Sea Haven even offers a screened in ocean-facing gazebo for your extended enjoyment! BHI Club Full Equity and Shoals Club Memberships available. Furnished & 2 golf carts to convey. Strong rental history available.
House Usage
- 10 shares total
- 5 weeks a year per share
Calculated Costs per Share
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$62,000
|
|
Closing Cost
$18,600
|
|
Reserve Fund Deposit
$9,300
|
|
Total Cash at Closing
$89,900
|
|
ESTIMATED MONTHLY EXPENSES PER SHARE
|
|
Mortgage Payment
$1,820
|
|
Insurance/Taxes
$336
|
|
Repairs
$258
|
|
Maintenance
$258
|
|
Utilities
$41
|
|
Cleaning
$23
|
|
Total Expenses
$2,736
|
|
ESTIMATED MONTHLY INCOME PER SHARE
|
|
Monthly Income
$3,100
|
|
Total Monthly Income
$3,100
|
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
- Wendy Wilmot Properties
- Last updated at
- August 23rd, 2023
- List Agent
- Listings Access
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