adjust possible shares to see calculations for more or less people
$2,975,000
home price
$297,500
cost per share
$2,628 / mo
monthly cost
Active
status
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$59,500
|
|
Closing Cost
$17,850
|
|
Reserve Fund Deposit
$8,925
|
|
Total Cash at Closing
$86,275
|
Details
5 bedrooms
| 5 bath
| 3,001
sqft
This unique Michael Moorefield designed home embraces nature's majesty & provides the chance to truly get away from it all. Located in the very private Middle Island community, this 5BR, 4.5BA abode is hugged by live oaks & palms, spotlighting awe-inspiring Bald Head Creek & Marsh vistas. Outside offers a front porch & screened porch, 2 ground-level decks, 2 back open porches & a rooftop/2nd floor deck. Inside, the home's open floor plan & proliferation of windows take full advantage of light & nature's gorgeous tableaus. The living area is surrounded by a huge, boxed bay set of windows. It is anchored by a decorative granite-faced fireplace & offers a comfy setting. Adjacent, the dining space features a very large farm table which easily accommodates 10. The breakfast bar offers another 4 seats. Kitchen boasts stainless Jenn-Air appliances, wine cooler & plenty of granite counter space for prepping delicious snacks. The 1st floor also includes a powder room & the King suite w/ its own sitting area, private porch & ensuite w/ jetted tub. The home's 2nd level is accessible by both front & back stairs. There, you'll find a bunk room w/ 2 Twin bunks & a day bed. Beyond is a King BR w/ vaulted ceilings & covetous views. These share a nearby full BA featuring walk-in shower. Down the hall are a day bed & another vaulted BR. The latter is furnished w/ Twin beds & delivers more spectacular marsh views. Across the hall is still another full BA w/ a tub/shower. The balcony tenders an office alcove-a great spot to get a little business done, & at the end of the hall is the upstairs Queen suite. Its location affords additional privacy. This chamber provides another ensuite w/ walk-in shower, a walk-in closet, access to a private porch &, of course, amazing creekscapes. Furnished w/ exclusions, 2 golf carts convey. Shoals & BHIC Lifestyle memberships available for additional purchase.
House Usage
- 10 shares total
- 5 weeks a year per share
Calculated Costs per Share
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$59,500
|
|
Closing Cost
$17,850
|
|
Reserve Fund Deposit
$8,925
|
|
Total Cash at Closing
$86,275
|
|
ESTIMATED MONTHLY EXPENSES PER SHARE
|
|
Mortgage Payment
$1,746
|
|
Insurance/Taxes
$322
|
|
Repairs
$248
|
|
Maintenance
$248
|
|
Utilities
$41
|
|
Cleaning
$23
|
|
Total Expenses
$2,628
|
|
ESTIMATED MONTHLY INCOME PER SHARE
|
|
Monthly Income
$2,975
|
|
Total Monthly Income
$2,975
|
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
- Wendy Wilmot Properties
- Last updated at
- July 23rd, 2024
- List Agent
- Listings Access
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