adjust possible shares to see calculations for more or less people
$3,500,000
target home price
$875,000
cost per share
$7,701 / mo
monthly cost
Active
status
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$175,000
|
|
Closing Cost
$52,500
|
|
Reserve Fund Deposit
$26,250
|
|
Total Cash at Closing
$253,750
|
Details
7 bedrooms
| 5 bath
| 3,623
sqft
Welcome to 411 Ocean Drive in Emerald Isle, NC! This ocean front new construction home is scheduled for completion by early 2024, just in time for the rental season. This seven bedroom, four and half bath home, with 3,636 square feet of living space & 1,170 square feet of covered decks, has plenty of room for everyone in your group to enjoy. Not only does it have spectacular views of the ocean but also of the sound as well. This coastal gem features a ground floor game room with with mini bar area, and bedroom for additional space to hang out. Take the convenient ground floor elevator in the foyer to the second floor, where you'll find four bedrooms with ocean and sound views, and a family room also facing the ocean. The top floor features an expansive dining/living & kitchen area with breathtaking views of the ocean. Top of the line Thor appliance package will be featured, including two dishwashers, & under counter ice maker, white custom cabinets, quartz countertops, & a Rannai tankless water heater. This beautiful home will have an abundance of amenities for all to enjoy, including a salt water pool. This property would make an excellent second home or income producing property. Come & experience fine coastal living here at the Crystal Coast.
House Usage
- 4 shares total
- 13 weeks a year per share
Calculated Costs per Share
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$175,000
|
|
Closing Cost
$52,500
|
|
Reserve Fund Deposit
$26,250
|
|
Total Cash at Closing
$253,750
|
|
ESTIMATED MONTHLY EXPENSES PER SHARE
|
|
Mortgage Payment
$5,136
|
|
Insurance/Taxes
$948
|
|
Repairs
$729
|
|
Maintenance
$729
|
|
Utilities
$103
|
|
Cleaning
$56
|
|
Total Expenses
$7,701
|
|
ESTIMATED MONTHLY INCOME PER SHARE
|
|
Monthly Income
$8,750
|
|
Total Monthly Income
$8,750
|
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
- Keller Williams Crystal Coast
- Last updated at
- October 23rd, 2023
- List Agent
- Listings Access
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