adjust possible shares to see calculations for more or less people
$1,685,000
target home price
$168,500
cost per share
$1,516 / mo
monthly cost
Active
status
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$33,700
|
|
Closing Cost
$10,110
|
|
Reserve Fund Deposit
$5,055
|
|
Total Cash at Closing
$48,865
|
Details
3 bedrooms
| 4 bath
| 2,196
sqft
Overlooking the Bald Head Island Club's 4th fairway, this cozy three bedroom/ 3.5 bath beach retreat tenders the best of both inside and outdoor living. The walkway through its well maintained, forested lot leads to a spacious front deck and covered porch. Furnished with a dining set-for alfresco bites-as well as multiple seating choices, this is a great spot for birdwatching or a quiet conversation. Inside, an open floor plan bathed in sunlight through its walls of windows, welcomes. Warm hardwoods lead to the living area that is anchored by a gas fireplace and offers egress to the large back screen porch. Here's where you'll start and end your day-relaxing. Back inside, the sunlit corner dining space is flanked by windows and includes several built-ins. The adjacent multi-chefs kitchen features a prep island/breakfast bar, stainless appliances, double farm sinks and gleaming quartzite counters. Just down the hall, the natural light-filled Primary King suite boasts a generous ensuite with a dual vanity and oversize glass tile shower. A powder room completes this level. At the top of the stairs, you'll find an area used as an office space and housing a giant window seat- perfect for a nap or a comfy read. Off this are two more bright suites. The first is another King with its own sitting area and private bath. The other suite houses two Full beds and also proffers its own ensuite as well as many built-ins. Conveniently located-just minutes to the beach, marina, shops and restaurants-and boasting handsome finishes and decorator touches, this property conveys with one six seater golf cart. A BHI equity Lifestyle Club membership and Shoals Club Membership is available for separate purchase.
*New roof in 2023, New HVAC in 2019 & 2020 with whole house purifier & Nest thermostats 2024.
The lot next door has been donated to the Smith Island Land Trust which means it can never be built on for maximum privacy.
House Usage
- 10 shares total
- 5 weeks a year per share
Calculated Costs per Share
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$33,700
|
|
Closing Cost
$10,110
|
|
Reserve Fund Deposit
$5,055
|
|
Total Cash at Closing
$48,865
|
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
$989
|
|
Insurance/Taxes
$183
|
|
Repairs
$140
|
|
Maintenance
$140
|
|
Utilities
$41
|
|
Cleaning
$23
|
|
Total Expenses
$1,516
|
|
ESTIMATED MONTHLY INCOME PER SHARE
|
|
Monthly Income
$1,685
|
|
Total Monthly Income
$1,685
|
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
- Wendy Wilmot Properties
- Last updated at
- February 27th, 2024
- List Agent
- Listings Access
Copyright 2023 NCRMLS. All rights reserved. North Carolina Regional Multiple Listing Service, (NCRMLS), provides content displayed here ("provided content") on an "as is" basis and makes no representations or warranties regarding the provided content, including, but not limited to those of non-infringement, timeliness, accuracy, or completeness. Individuals and companies using information presented are responsible for verification and validation of information they utilize and present to their customers and clients. NCRMLS will not be liable for any damage or loss resulting from use of the provided content or the products available through Portals, IDX, VOW, and/or Syndication. Recipients of this information shall not resell, redistribute, reproduce, modify, or otherwise copy any portion thereof without the expressed written consent of NCRMLS.