adjust possible shares to see calculations for more or less people
$1,199,000
target home price
$299,750
cost per share
$2,743 / mo
monthly cost
Active
status
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$59,950
|
|
Closing Cost
$17,985
|
|
Reserve Fund Deposit
$8,993
|
|
Total Cash at Closing
$86,928
|
Details
5 bedrooms
| 5 bath
| 1,949
sqft
Good vibes flow with ocean views and breezes from this 2nd row Ocean Isle Beach home. Beautiful furnishings in this
open floor plan concept and located close to the beach access. This family vacation home has never been rented and the owners have maintained it meticulously. Updates include roof replacement, vinyl shake siding, kitchen remodel and durable luxury vinyl plank flooring. All 5 bathrooms have also undergone extensive updating. Open floor plan concept is perfect for entertaining and all your family gatherings. High volume ceilings give a spacious feel and excellent natural light. Kitchen has a great bar perfect for meal prep and serving family meals with additional overflow seating. Dedicated dining area with large table and comfortable seating for 8. Each bedroom has an en suite bath with granite counter tops. There are several walk-in showers and tubs along with a convenient outside shower. Large decks on the 2nd and 3rd levels to capture all the ocean views and evening skies. Enclosed garage provides secured storage for a car and all your beach toys with an open carport for additional parking and continuous shade area for outdoor games and fellowship. The back yard has a great deck for grilling and entertaining and there is plenty of room to add a future pool. Although never rented, this would be an ideal location for an investment income producing property. Less than 1 mile from the town center with fishing pier, arcade and large town park with tons of activities for the kids. Come and see what life and luxury at Ocean Isle Beach is all about.
House Usage
- 4 shares total
- 13 weeks a year per share
Calculated Costs per Share
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$59,950
|
|
Closing Cost
$17,985
|
|
Reserve Fund Deposit
$8,993
|
|
Total Cash at Closing
$86,928
|
|
ESTIMATED MONTHLY EXPENSES PER SHARE
|
|
Mortgage Payment
$1,760
|
|
Insurance/Taxes
$325
|
|
Repairs
$250
|
|
Maintenance
$250
|
|
Utilities
$103
|
|
Cleaning
$56
|
|
Total Expenses
$2,743
|
|
ESTIMATED MONTHLY INCOME PER SHARE
|
|
Monthly Income
$2,998
|
|
Total Monthly Income
$2,998
|
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
- Coldwell Banker Sloane Realty OIB
- Last updated at
- September 12th, 2023
- List Agent
- Listings Access
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