adjust possible shares to see calculations for more or less people
$1,950,000
target home price
$487,500
cost per share
$4,361 / mo
monthly cost
Active
status
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$97,500
|
|
Closing Cost
$29,250
|
|
Reserve Fund Deposit
$14,625
|
|
Total Cash at Closing
$141,375
|
Details
6 bedrooms
| 5 bath
| 2,363
sqft
Come and see what New Construction, Oceanfront living is all about. This home built by one of the islands premier builders, has all the custom amenities that you would desire. 6 bedrooms with 4 1/2 baths, coffered ceiling, custom kitchen with quartz counter tops and upgraded appliances through out, elevator, LVP flooring, and on and on. This home is located next to town owned property so there should never be neighbors on that side of the home.. Located right in front of Middleton Park so very convenient to all that is happening on Oak Island. Come and visit and see what's waiting for you on the ocean front.
House Usage
- 4 shares total
- 13 weeks a year per share
Calculated Costs per Share
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$97,500
|
|
Closing Cost
$29,250
|
|
Reserve Fund Deposit
$14,625
|
|
Total Cash at Closing
$141,375
|
|
ESTIMATED MONTHLY EXPENSES PER SHARE
|
|
Mortgage Payment
$2,862
|
|
Insurance/Taxes
$528
|
|
Repairs
$406
|
|
Maintenance
$406
|
|
Utilities
$103
|
|
Cleaning
$56
|
|
Total Expenses
$4,361
|
|
ESTIMATED MONTHLY INCOME PER SHARE
|
|
Monthly Income
$4,875
|
|
Total Monthly Income
$4,875
|
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
- Isenhour Realty LLC.
- Last updated at
- November 6th, 2023
- List Agent
- Listings Access
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