adjust possible shares to see calculations for more or less people
$1,549,000
home price
$154,900
cost per share
$1,399 / mo
monthly cost
Active
status
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$30,980
|
|
Closing Cost
$9,294
|
|
Reserve Fund Deposit
$4,647
|
|
Total Cash at Closing
$44,921
|
Details
4 bedrooms
| 4 bath
| 1,924
sqft
''No Bones About It'' is a special and comfortable second row beach house with spectacular views of the beach and ocean. There are two accesses to the beach just across the street, There are four ocean front lots in front of this house that are not buildable and have been donated to the Smith Island Land Trust. You will always have unobstructed views of the ocean and a short walk to the beach. Ths 4 bedroom, 4 bath house provides the comfort of a vacation or a permanent home. The living, dining and kitchen are open and comfortably furnished. The kitchen has recently been completely remodeled with granite counters, new kitchen cabinets and all new stainless appliances (refrigerator, dishwasher and microwave). The front porch has a hammock for relaxing and a table adn chairs for eating while enjoying the views of the ocean. There is a wrap around deck for sunbathing or playing games. Every bedroom has a TV for your private program viewing. All floors throughout the living and bedrooms are Luxury Vinyl Plank for comfort and easy care. The floors in the kitchen and bath are tile. A 4 passenger and a 6 passenger golf carts are provided for Island transportation. There are 6 bikes provided. Beside the garage, there is a 9 x 27 Dehumidified room for storage just recently built. House is sold furnished with a few exclusions. An equity Lifestyle Membership in the BHI Club and a Shoals Membership for available purchase. ''No Bones About It'' is an excellent rental.
House Usage
- 10 shares total
- 5 weeks a year per share
Calculated Costs per Share
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$30,980
|
|
Closing Cost
$9,294
|
|
Reserve Fund Deposit
$4,647
|
|
Total Cash at Closing
$44,921
|
|
ESTIMATED MONTHLY EXPENSES PER SHARE
|
|
Mortgage Payment
$909
|
|
Insurance/Taxes
$168
|
|
Repairs
$129
|
|
Maintenance
$129
|
|
Utilities
$41
|
|
Cleaning
$23
|
|
Total Expenses
$1,399
|
|
ESTIMATED MONTHLY INCOME PER SHARE
|
|
Monthly Income
$1,549
|
|
Total Monthly Income
$1,549
|
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
- Atlantic Realty Professionals, Inc
- Last updated at
- February 23rd, 2024
- List Agent
- Listings Access
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