adjust possible shares to see calculations for more or less people
$3,100,000
target home price
$310,000
cost per share
$2,736 / mo
monthly cost
Active
status
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$62,000
|
|
Closing Cost
$18,600
|
|
Reserve Fund Deposit
$9,300
|
|
Total Cash at Closing
$89,900
|
Details
4 bedrooms
| 5 bath
| 3,471
sqft
There is nothing ordinary about this 3400+sqft extraordinary 4BR/4.5BA opportunity on Wrightsville Beach. Significant enhancements make this turn-key, move-in ready, offering completely on trend. Select designer's choice kitchen features oversized quartz island, stainless KitchenAid appliance pkg, stylish lighting, new cabinetry, and large slab quartz backsplash. Open concept living area with gorgeous hardwood floors includes a wet bar with beverage center. Living and dining areas both open to spacious covered wrap around porch, perfect for enjoying Wrightsville's famed ocean cooled evenings and year-round sea breeze. Dine inside or out during any season. All guest bedrooms are ensuite with completely renovated modern baths, two of the three suites directly access exterior wrap porch. The top level of the home features the primary bedroom with luxury bath, generous walk-in closet, and a private master exterior balcony. 4-stop elevator included for added convenience. All new interior paint offers a soothing neutral coastal palette. New Viwinco impact glass window package. Cedar shake siding with large, covered wrap porches and exposed rafter tails truly enhance the timeless cottage feel. The 50' x 100' lot offers an abundance of well established natural vegetation and yard space. Fully enclosed garage. Additional carport space becomes a perfect spot for lazy summer days in the shade, oyster roasts, and shrimp boils with friends. Great ground level storage room for earth cruisers, beach chairs, surfboards. Convenient beach access is just a short stroll away. So, wax up the surfboard or grab the beach chairs, either way - life is better at the beach!
House Usage
- 10 shares total
- 5 weeks a year per share
Calculated Costs per Share
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$62,000
|
|
Closing Cost
$18,600
|
|
Reserve Fund Deposit
$9,300
|
|
Total Cash at Closing
$89,900
|
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
$1,820
|
|
Insurance/Taxes
$336
|
|
Repairs
$258
|
|
Maintenance
$258
|
|
Utilities
$41
|
|
Cleaning
$23
|
|
Total Expenses
$2,736
|
|
ESTIMATED MONTHLY INCOME PER SHARE
|
|
Monthly Income
$3,100
|
|
Total Monthly Income
$3,100
|
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
- November 7th, 2023
- List Agent
- Listings Access
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