adjust possible shares to see calculations for more or less people
$4,795,000
target home price
$479,500
cost per share
$4,197 / mo
monthly cost
Active
status
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$95,900
|
|
Closing Cost
$28,770
|
|
Reserve Fund Deposit
$14,385
|
|
Total Cash at Closing
$139,055
|
Details
4 bedrooms
| 5 bath
| 4,037
sqft
A style of its own as smooth as single batch bourbon. Nothing else like it on Wrightsville Beach. Absolutely elegant architecturally designed Carolina dream home located on one of Wrightsville's most quintessential streets. Tasteful southern living style exemplifies the timeless character and soul of the island. Gorgeous pecky cypress tongue & groove walls with cypress beams adorn the great room. Wolf and Sub-Zero appliance package. Stunning reclaimed heart pine flooring. Yacht like millwork, casings, and custom doors complete with crystal knobs. Primary bedroom features private covered balcony showcasing dramatic water views. Executive study. Reading lounge. Elevator. Topside observation deck accessed by custom cherry spiral staircase. Individually hand dipped western red cedar shake siding. Andersen top of the line impact glass window package. Mahogany entry and garage doors. Heavy 6'' half-round copper gutters. Closed cell foam and sound proof insulation. Tankless water heaters. Durable epoxy finished garage floors. Spacious outdoor shower. Custom craftsmanship was incorporated into every step of the design and fore-thought of this one owner masterpiece. Materials, details, and finishes reflect long lasting low maintenance superior quality. For those seeking upscale island living that can be enjoyed for generations, look no further.
House Usage
- 10 shares total
- 5 weeks a year per share
Calculated Costs per Share
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$95,900
|
|
Closing Cost
$28,770
|
|
Reserve Fund Deposit
$14,385
|
|
Total Cash at Closing
$139,055
|
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
$2,815
|
|
Insurance/Taxes
$519
|
|
Repairs
$400
|
|
Maintenance
$400
|
|
Utilities
$41
|
|
Cleaning
$23
|
|
Total Expenses
$4,197
|
|
ESTIMATED MONTHLY INCOME PER SHARE
|
|
Monthly Income
$4,795
|
|
Total Monthly Income
$4,795
|
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
- Hardee Hunt & Williams
- Last updated at
- October 19th, 2023
- List Agent
- Listings Access
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