adjust possible shares to see calculations for more or less people
$1,299,000
target home price
$129,900
cost per share
$1,183 / mo
monthly cost
Active
status
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$25,980
|
|
Closing Cost
$7,794
|
|
Reserve Fund Deposit
$3,897
|
|
Total Cash at Closing
$37,671
|
Details
5 bedrooms
| 5 bath
| 2,844
sqft
Nestled in Bald Head's beautiful Maritime Forest, this 5BR/5BA retreat offers nature's serenity in a convenient location. The deep, covered rocking chair porch greets you & beckons you to linger while listening to ocean breezes dancing through the trees. Custom Heart Pine Flooring in Great Room/DR- Cathedral Vaulted Ceilings w/ ceiling fans, Large Dining area w/extra seating at a bar in the Kitchen. Generous living area runs the length of the house & includes a conversation space as well as a game table. It opens onto a roomy screened dining porch on one side &, on the other side, into the ample dining area w/ a table that easily accommodates eleven. Beyond, the sunny chef's kitchen is equipped with quartz Counters w/double sinks, stainless appliances, plenty of storage & a breakfast bar for four. Down the hall, the primary King suite provides a jumbo closet & a large, pampering ensuite bath w/ a double granite vanity & ceramic-tiled, glass shower. This floor also houses another full bath & the laundry room. Upstairs, are 3 more bedrooms. The first is a sunlit Queen suite w/ two closets & a private bath w/ a tub. The second Queen and bunk room-w/ four full-size bunk beds-each offers oversize closets & share the convenient hall bath w/ a shower/tub. For those craving additional privacy, this home furnishes a Queen suite in its crofter. This luxe nest has its own private covered porch, a full bath w/ tub & a kitchenette w/ granite counters, a microwave, sink & mini fridge. Located close to the beach, the BHI Club, the marina, shops, and restaurants, Sanctuary conveys with two golf carts. Conveying furnished. Excellent rental history. (Home = 2590sqft + Crofter 254sqft crofter = 2844 total). BHI Club Lifestyle membership 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
$25,980
|
|
Closing Cost
$7,794
|
|
Reserve Fund Deposit
$3,897
|
|
Total Cash at Closing
$37,671
|
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
$763
|
|
Insurance/Taxes
$141
|
|
Repairs
$108
|
|
Maintenance
$108
|
|
Utilities
$41
|
|
Cleaning
$23
|
|
Total Expenses
$1,183
|
|
ESTIMATED MONTHLY INCOME PER SHARE
|
|
Monthly Income
$1,299
|
|
Total Monthly Income
$1,299
|
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 4th, 2023
- List Agent
- Listings Access
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