111 Ocean Crest Way, Duck, Nc 27949 main
111 Ocean Crest Way, Duck, Nc 27949 two
111 Ocean Crest Way, Duck, Nc 27949 three
111 Ocean Crest Way, Duck, Nc 27949 four
111 Ocean Crest Way, Duck, Nc 27949 five
111 Ocean Crest Way, Duck, Nc 27949 six
111 Ocean Crest Way, Duck, Nc 27949

10 owners
10
plum score

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
Co-own this home
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.

I'm interested
House Usage
  • 10 shares total
  • 5 weeks a year per share

Calculated Costs per Share

111 Ocean Crest Way, Duck, NC 27949
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
This total is an estimate of all the expected costs associated with owning a vacation home with a Plum certified ownership agreement.
Location, type of house, changes in interest rates and utilities can all change and affect the monthly cost throughout the term of ownership.
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

Joe Staten

252-982-6136

joestaten@sunrealtync.com

Listings Access

Jessica M Keenan

Nest Reality

jessica.keenan@nestreality.com

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