adjust possible shares to see calculations for more or less people
$1,299,000
home price
$129,900
cost per share
$1,183 / mo
monthly cost
Active
status
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$25,980
|
|
Closing Cost
$7,794
|
|
Reserve Fund Deposit
$3,897
|
|
Total Cash at Closing
$37,671
|
Details
6 bedrooms
| 6 bath
| 4,078
sqft
A must see! This home is one of the most unique homes on the island. It was built personally by previous owners and includes a huge family/kichen/dining area with a wood stove. Suitable for a large family or multiple families, an attached yet private apartment provides separate quarters with additional living area, second kitchen plus bedroom and bath! It also provides an additional laundry area. The main part of the home offers 4 bedrooms and 3.5 baths and a spacious playroom/game room for the kids or puzzle enthusiast. There is plenty of closet and storage space throughout the home for storing individual belongings between visits. The main family room features a spacious kitchen, large bar for extra seating, several seating areas, one around the wood stove and a soaring wood framed ceiling. An elevator has been added for easy access to all 3 floors. Porches surround the home and frame the majestic oak in the front yard. Screened, open and covered porches are all around for multiple seating or reading outside under the oak trees. The home is convenient enough for walking to the ferry or harbor, chapel, or the Lighthouse and post office. If you need a lot of space or want to share with another family or two, this will easily fit the bill! Bring the in-laws for the separate apartment space. Two golf carts convey, one 4 seater and one 6 seater both up to date with service and ready for travel around the island. A club membership is available for separate purchase.
House Usage
- 10 shares total
- 5 weeks a year per share
Calculated Costs per Share
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$25,980
|
|
Closing Cost
$7,794
|
|
Reserve Fund Deposit
$3,897
|
|
Total Cash at Closing
$37,671
|
|
ESTIMATED MONTHLY EXPENSES PER SHARE
|
|
Mortgage Payment
$763
|
|
Insurance/Taxes
$141
|
|
Repairs
$108
|
|
Maintenance
$108
|
|
Utilities
$41
|
|
Cleaning
$23
|
|
Total Expenses
$1,183
|
|
ESTIMATED MONTHLY INCOME PER SHARE
|
|
Monthly Income
$1,299
|
|
Total Monthly Income
$1,299
|
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
- March 28th, 2024
- List Agent
- Listings Access
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