adjust possible shares to see calculations for more or less people
$1,595,000
target home price
$159,500
cost per share
$1,438 / mo
monthly cost
Active
status
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$31,900
|
|
Closing Cost
$9,570
|
|
Reserve Fund Deposit
$4,785
|
|
Total Cash at Closing
$46,255
|
Details
4 bedrooms
| 4 bath
| 2,366
sqft
Ocean View Retreat. Tucked away at the end of a quiet beach side cul-de-sac, this ocean view home is the perfect island retreat. Sit on the expansive, ocean view porch of this four bedroom, four bath home and listen to the sounds of the sea. The inviting front porch is nestled behind a grove of trees providing privacy for the new homeowner. Entering the home, you will notice the beautiful wood ceilings that adorn this well crafted property. The first floor contains the living area, kitchen, dining room, master bedroom and bath, as well as a second bedroom and bath. A wooden staircase leads to a second floor containing another bedroom and bath. A separate guest suite accessible by the front and rear decks of the home contains a spacious living room and bath on the first floor. The second floor of the guest quarters is where you will find an additional bedroom with spectacular ocean views. A new stylish gas fireplace and built in book shelves add to the charm of this island home. The master bath was renovated with a tiled shower, new countertops, and flooring. Most of the windows in the house have been replaced with Anderson windows and new blinds. A new roof and synthetic railings on the front and back porches were installed in 2020. The property between this home and the ocean consists of common ground, a lagoon, and a homesite donated to the Smith Island Land Trust. The home has two garages providing parking for multiple golf carts. The second garage and an abundance of decking under the house are the perfect places for additional storage for kayaks, paddle boards, and bikes. The property is located in close proximity to the beach and Bald Head Island Club. Fully furnished with minor exclusions and two golf carts. An Equity Lifestyle Membership in the BHI Club is available for separate purchase.
House Usage
- 10 shares total
- 5 weeks a year per share
Calculated Costs per Share
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$31,900
|
|
Closing Cost
$9,570
|
|
Reserve Fund Deposit
$4,785
|
|
Total Cash at Closing
$46,255
|
|
ESTIMATED MONTHLY EXPENSES PER SHARE
|
|
Mortgage Payment
$936
|
|
Insurance/Taxes
$173
|
|
Repairs
$133
|
|
Maintenance
$133
|
|
Utilities
$41
|
|
Cleaning
$23
|
|
Total Expenses
$1,438
|
|
ESTIMATED MONTHLY INCOME PER SHARE
|
|
Monthly Income
$1,595
|
|
Total Monthly Income
$1,595
|
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
- Atlantic Realty Professionals, Inc
- Last updated at
- August 17th, 2023
- List Agent
- Listings Access
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