adjust possible shares to see calculations for more or less people
$2,599,000
target home price
$259,900
cost per share
$2,304 / mo
monthly cost
Active
status
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$51,980
|
|
Closing Cost
$15,594
|
|
Reserve Fund Deposit
$7,797
|
|
Total Cash at Closing
$75,371
|
Details
7 bedrooms
| 8 bath
| 4,045
sqft
This stunning oceanfront home is full of character and charm with ocean views you can see for miles! The gorgeous great room and dining area with huge floor-to-ceiling windows, wood vaulted ceiling, and hardwood flooring make you feel as though you are in a luxurious boat, floating on the ocean. Plenty of natural sunlight streams in through those large windows, giving a bright and airy feel. This expansive room also features multiple sitting areas with fireplace and the kitchen, all open concept and reverse floor plan. The kitchen is a dream, featuring stainless-steel appliances, breakfast bar, and extra sink. The hardwood flooring does not stop here and goes into all the bedrooms, which are very spacious. Six of the seven bedrooms have their own private bath. There are two master bedrooms, one on each level. The first-floor master is usable by a handicapped person though may not fully comply to ADA regulations. The first floor also features a spacious den. You will enjoy your own private walkway to the beach with a sun deck along the way. Ideally located next to the Fort Caswell Baptist Assembly and Civil War Fort, you will have gorgeous long-range views surrounding. Multiple porches abound (covered, screened, and open) to be able to sit back and relax amid the spectacular views. This home would make an ideal primary residence or second home, but also has an established rental history if you prefer to use it as an investment property. The beauty and magnificent atmosphere this home and the surrounding area provide will take your breath away. Come and see for yourself and make this gorgeous home your new reality!
House Usage
- 10 shares total
- 5 weeks a year per share
Calculated Costs per Share
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$51,980
|
|
Closing Cost
$15,594
|
|
Reserve Fund Deposit
$7,797
|
|
Total Cash at Closing
$75,371
|
|
ESTIMATED MONTHLY EXPENSES PER SHARE
|
|
Mortgage Payment
$1,526
|
|
Insurance/Taxes
$282
|
|
Repairs
$217
|
|
Maintenance
$217
|
|
Utilities
$41
|
|
Cleaning
$23
|
|
Total Expenses
$2,304
|
|
ESTIMATED MONTHLY INCOME PER SHARE
|
|
Monthly Income
$2,599
|
|
Total Monthly Income
$2,599
|
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
- Better Beach Sales & Rentals, Inc.
- Last updated at
- November 16th, 2023
- List Agent
- Listings Access
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