adjust possible shares to see calculations for more or less people
$284,900
target home price
$28,490
cost per share
$309 / mo
monthly cost
Active
status
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$5,698
|
|
Closing Cost
$1,709
|
|
Reserve Fund Deposit
$855
|
|
Total Cash at Closing
$8,262
|
Details
5 bedrooms
| 5 bath
| 2,690
sqft
Looking to enjoy all the wonders of Wrightsville Beach without the financial obligations of single family home ownership? Introducing this rare FRACTIONAL (one-tenth) ownership opportunity, which makes this dream an ideal reality by sharing costs and responsibilities with others who have a similar appreciation for the area, allowing you a piece of coastal heaven with a select group of like-minded folks. Situated in the heart of Wrightsville Beach, the first level of this home offers a primary ensuite bedroom and 3 additional bedrooms with deck access, full BA. Elevator or stairs take you to the top level which is tastefully designed for both relaxation and social gatherings. Upper level features include an open plan family room/kitchen which effortlessly blends openness and comfort, by maximizing the natural light and views yet offering cozy living spaces, The gas fireplace, vaulted ceiling, bank of large windows and glass doors not only invite ample sunlight but also provide access to a covered porch, extending the living area outdoors and making it the perfect spot to enjoy the views or a morning cup of coffee. The kitchen, which opens to the eating area, features granite counters, stainless appliances, large pantry and is highlighted by a fabulously oversized eat-at island which doubles as an additional dining accommodation. A second primary bedroom ensuite becomes a sanctuary with private access to a back deck. Ground level includes 2 large storage rooms, a tranquil backyard, a built-in bar cabana and a convenient outdoor shower, creating a versatile outdoor living area to be enjoyed throughout the year. Whether you're looking to relax, explore the local seaside attractions, or simply find a peaceful retreat, 5 designated weeks out of the year, this special setting at Wrightsville Beach could be your gateway to creating lasting memories by the shore.
House Usage
- 10 shares total
- 5 weeks a year per share
Calculated Costs per Share
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$5,698
|
|
Closing Cost
$1,709
|
|
Reserve Fund Deposit
$855
|
|
Total Cash at Closing
$8,262
|
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
$167
|
|
Insurance/Taxes
$31
|
|
Repairs
$24
|
|
Maintenance
$24
|
|
Utilities
$41
|
|
Cleaning
$23
|
|
Total Expenses
$309
|
|
ESTIMATED MONTHLY INCOME PER SHARE
|
|
Monthly Income
$285
|
|
Total Monthly Income
$285
|
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
- Intracoastal Realty Corp
- Last updated at
- April 12th, 2024
- List Agent
- Listings Access
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