adjust possible shares to see calculations for more or less people
$2,599,000
target home price
$259,900
cost per share
$2,304 / mo
monthly cost
Active
status
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$51,980
|
|
Closing Cost
$15,594
|
|
Reserve Fund Deposit
$7,797
|
|
Total Cash at Closing
$75,371
|
Details
6 bedrooms
| 6 bath
| 3,614
sqft
Location WOW factor! This Duck ocean front is South of the pier with a mature, stable and massive protective dune. No beach nourishments have been needed for this section of the coastline. Located near and between the town of Duck and the ''Avenues'' of Rt 12, the location is ideal and highly sought after! The community will impress and so will the home! The cul-de-sac location adds to the privacy of the street only servicing this community. The ROI with approximately $240,000 rental income is impressive and has more growth opportunity with your personal touches. Close quickly and reap the significant income remaining for this season (Currently $111,700). It is an immediate return on your investment! Beautifully landscaped with a huge oceanside pool, dune-top deck overlooking the beach and a hot tub makes for ''choices, choices, choices,'' on where to relax next. Enjoy nature with your morning coffee watching dolphins, pelicans and even deer! When taking pictures, we saw a fawn and her mother in the dune thicket enjoying lunch and providing a little landscaping assistance (see pic #7). The mature dune and solid pool fence have prevented sand drifting into the pool area which is a on-going maintenance problem with some other homes. Expansive sun and covered decks with views, views views! Every bedroom exits to a deck or patio. The ocean views from inside the house are expansive. You must see this home to imagine all the possibilities.
House Usage
- 10 shares total
- 5 weeks a year per share
Calculated Costs per Share
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$51,980
|
|
Closing Cost
$15,594
|
|
Reserve Fund Deposit
$7,797
|
|
Total Cash at Closing
$75,371
|
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
$1,526
|
|
Insurance/Taxes
$282
|
|
Repairs
$217
|
|
Maintenance
$217
|
|
Utilities
$41
|
|
Cleaning
$23
|
|
Total Expenses
$2,304
|
|
ESTIMATED MONTHLY INCOME PER SHARE
|
|
Monthly Income
$2,599
|
|
Total Monthly Income
$2,599
|
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
- Sun Realty of Nags Head/Harbin
- Last updated at
- July 24th, 2023
- List Agent
- Listings Access
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