adjust possible shares to see calculations for more or less people
$925,000
target home price
$92,500
cost per share
$861 / mo
monthly cost
Active
status
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$18,500
|
|
Closing Cost
$5,550
|
|
Reserve Fund Deposit
$2,775
|
|
Total Cash at Closing
$26,825
|
Details
3 bedrooms
| 3 bath
| 1,180
sqft
This might just be the island escape you've been searching for! Perfectly positioned in the neighborhood, Villa 22 offers gorgeous ocean views just steps from the sand and surf of South Beach.
Exceptionably well-maintained, this villa has several recent upgrades: new roof (2021), new windows (2022), new HVAC ducts (2023), new beach-friendly LVP flooring (2023) and beautiful furnishings.
The first floor features two bedrooms, two bathrooms and an open living area and kitchen. On the second floor you'll discover a charming sleeping loft with a half bath - a versatile space that can be adapted to suit your needs.
This villa is offered fully furnished, including two golf carts. Lightly rented with rental history available.
Equity BHI Club Lifestyle Membership is available to transfer through separate purchase.
Nowhere else on the island will you find such a blend of coastal elegance and gorgeous views at this price point.
House Usage
- 10 shares total
- 5 weeks a year per share
Calculated Costs per Share
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$18,500
|
|
Closing Cost
$5,550
|
|
Reserve Fund Deposit
$2,775
|
|
Total Cash at Closing
$26,825
|
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
$543
|
|
Insurance/Taxes
$100
|
|
Repairs
$77
|
|
Maintenance
$77
|
|
Utilities
$41
|
|
Cleaning
$23
|
|
Total Expenses
$861
|
|
ESTIMATED MONTHLY INCOME PER SHARE
|
|
Monthly Income
$925
|
|
Total Monthly Income
$925
|
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
- Landmark Sotheby's International Realty
- Last updated at
- October 15th, 2023
- List Agent
- Listings Access
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