adjust possible shares to see calculations for more or less people
$1,599,000
target home price
$399,750
cost per share
$3,605 / mo
monthly cost
Active
status
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$79,950
|
|
Closing Cost
$23,985
|
|
Reserve Fund Deposit
$11,993
|
|
Total Cash at Closing
$115,928
|
Details
5 bedrooms
| 5 bath
| 2,498
sqft
This home is under construction and should be completed in time for next rental season. The location is amazing as you are only steps away from the beach access and within walking distance of everything that Ocean Isle Beach offers including multiple restaurants & bars, ice cream shop, arcade, putt putt course, park, museum, fishing pier and more! This home has the potential to be a very attractive short term vacation rental. There will be 5 bedrooms and 5 full bathrooms. There will be two living rooms, one on each level and there will be an elevator that goes to all three levels. For those who enjoy being outdoors, there will be a pool and tiki bar behind the house. New construction on the second row is rare, take advantage of this opportunity today!
House Usage
- 4 shares total
- 13 weeks a year per share
Calculated Costs per Share
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$79,950
|
|
Closing Cost
$23,985
|
|
Reserve Fund Deposit
$11,993
|
|
Total Cash at Closing
$115,928
|
|
ESTIMATED MONTHLY EXPENSES PER SHARE
|
|
Mortgage Payment
$2,347
|
|
Insurance/Taxes
$433
|
|
Repairs
$333
|
|
Maintenance
$333
|
|
Utilities
$103
|
|
Cleaning
$56
|
|
Total Expenses
$3,605
|
|
ESTIMATED MONTHLY INCOME PER SHARE
|
|
Monthly Income
$3,998
|
|
Total Monthly Income
$3,998
|
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
- The Saltwater Agency
- Last updated at
- August 31st, 2023
- List Agent
- Listings Access
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