adjust possible shares to see calculations for more or less people
$1,450,000
target home price
$145,000
cost per share
$1,313 / mo
monthly cost
Active
status
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$29,000
|
|
Closing Cost
$8,700
|
|
Reserve Fund Deposit
$4,350
|
|
Total Cash at Closing
$42,050
|
Details
5 bedrooms
| 4 bath
| 2,634
sqft
Semi-Oceanfront home in Nags Head! Beautiful Ocean Views from the spacious Top Level Deck! Across the street from the Nags Head Fishing Pier. Private Beach Access plus Public Beach Access. This Beautiful Home has 5 bedrooms and 4 full baths. The ground floor has a Game Room with pool table and sitting area with 1 bedroom and 1 bathroom. The Mid Level Floor has 3 bedrooms and 2 full baths with a den and wet bar. The Top Floor has a large living room, huge dining area, and a spacious kitchen. Also on the Top Floor is the master bedroom with its own full bath. The private pool, hot tub and recently upgraded front and rear decks maximize outdoor enjoyment of the home. This standout semi-oceanfront home is a gem! Sold fully furnished.
House Usage
- 10 shares total
- 5 weeks a year per share
Calculated Costs per Share
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$29,000
|
|
Closing Cost
$8,700
|
|
Reserve Fund Deposit
$4,350
|
|
Total Cash at Closing
$42,050
|
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
$851
|
|
Insurance/Taxes
$157
|
|
Repairs
$121
|
|
Maintenance
$121
|
|
Utilities
$41
|
|
Cleaning
$23
|
|
Total Expenses
$1,313
|
|
ESTIMATED MONTHLY INCOME PER SHARE
|
|
Monthly Income
$1,450
|
|
Total Monthly Income
$1,450
|
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
- Crosspoint Realty
- Last updated at
- January 30th, 2024
- List Agent
- Listings Access
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