2612 S Memorial Avenue, Nags Head, Nc 27959 main
2612 S Memorial Avenue, Nags Head, Nc 27959 two
2612 S Memorial Avenue, Nags Head, Nc 27959 three
2612 S Memorial Avenue, Nags Head, Nc 27959 four
2612 S Memorial Avenue, Nags Head, Nc 27959 five
2612 S Memorial Avenue, Nags Head, Nc 27959 six
2612 S Memorial Avenue, Nags Head, Nc 27959

10 owners
10
plum score

adjust possible shares to see calculations for more or less people

$975,000

target home price

$97,500

cost per share

$904 / mo

monthly cost

Active

status

CASH AT CLOSING PER SHARE
Down Payment
$19,500
Closing Cost
$5,850
Reserve Fund Deposit
$2,925
Total Cash at Closing
$28,275
Co-own this home
Details
5 bedrooms | 4 bath | 2,828 sqft

Welcome to Wave Manor. Situated between 2 beach access ( Baltic St and Admiral St), 3 lots from the Ocean makes this an easy walk or bikeride. This coastal Beach home is the perfect destination for a vacation home, rental or primary residence. Sold fully furnished this is a turnkeyhome. Easy to enjoy the ocean views from the crows nest. The second floor has 4 bedrooms with Decks on front; side decks on the second and third floor. The Library and Garage have been enclosed to feature a Game room (this is not in square footage of home). .The third floor Gourmetkitchen boasts of stainless steel appliances, granite countertops, breakfast bar and spacious dining area. All this is open to the Great Room. Thelarge sunroom in the front of the home faces the ocean. The partially fenced backyard sports a newly installed jacuzzi sitting on a paver patio torelax. This home is situated between highways, an easy walk to grocery stores, restaurants and more. Showings on Saturday turnover day.Call to set up an appointment. The Ground Level offers a lovely Entry Foyer, large Game Room, cozy Den, Utility Room, Full Bath and a bonusroom. The backyard is neat and landscaped with a sprinkler system. The home is being sold fully furnished. Recent improvements include:New HVAC units (inside & out) 2015, Roof installed 2016, exterior stairs replaced 2016, Oven/range replaced in 2015, newer Dishwasher &Microwave 2017 and windows updated to Vinyl windows. 2023 Installed New rear paver patio and walkway to new Jacuzzi/Hot Tub, 5 new smart flat screen TV's, all shower valves, all lighting upgraded to LED's, replaced 3rd floor French door to Vinyl Low E Sliding doors, Replace bad parts in vinyl front windows, (note; there are 5 fogged windows on order for replacement), replace deck and stair rails as needed, and replaced outside shower door.
Home was VRBO $63703.18 for 2021 and
$73,822.12 for 2022

I'm interested
House Usage
  • 10 shares total
  • 5 weeks a year per share

Calculated Costs per Share

2612 S Memorial Avenue, Nags Head, NC 27959
CASH AT CLOSING PER SHARE
Down Payment
$19,500
Closing Cost
$5,850
Reserve Fund Deposit
$2,925
Total Cash at Closing
$28,275

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
$572
Insurance/Taxes
$106
Repairs
$81
Maintenance
$81
Utilities
$41
Cleaning
$23
Total Expenses
$904
This total is an estimate of all the expected costs associated with owning a vacation home with a Plum certified ownership agreement.
Location, type of house, changes in interest rates and utilities can all change and affect the monthly cost throughout the term of ownership.
ESTIMATED MONTHLY INCOME PER SHARE
Monthly Income
$975
Total Monthly Income
$975

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
A Better Way Realty, Inc.
Last updated at
March 7th, 2024
List Agent

Mark Brink

252-435-7095

Brinksdreamteam4u@gmail.com

Listings Access

Jessica M Keenan

Nest Reality

jessica.keenan@nestreality.com

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