adjust possible shares to see calculations for more or less people
$1,950,000
target home price
$487,500
cost per share
$4,361 / mo
monthly cost
Active
status
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$97,500
|
|
Closing Cost
$29,250
|
|
Reserve Fund Deposit
$14,625
|
|
Total Cash at Closing
$141,375
|
Details
7 bedrooms
| 7 bath
| 3,498
sqft
THIS IS THE ONE!!! Brand New Construction with Incredible Views!!! Primo corner lot at the end of the street with added privacy and incredible views from all three levels!! 7 bedrooms and 6.5 bathrooms, three living rooms, huge open areas for entertaining and a wonderful flow to the floor plan with the kitchen, dining and living room layout. Elevated selections throughout!!! The decks on all levels are all very large and made for entertaining and relaxing while taking in all of the water views!! The pool and tiki bar are the favorite spot to hang out all day and all night!!! This area will rival any home and it is sure to please everyone. Elevator access to all floors make this home very desirable for everyone of all ages and perfect for renters as well. This is an incredible primary home, second home and even better investment rental opportunity!! No expenses spared on this one and it will be finished and ready for you to move right in within a few months!!! This home is located in the Islander Resort area which also comes with optional access to The Isles Beach Front pool and beach access. This is a rare opportunity to get a property of this size, brand new and at this price!! The Hardi siding can be currently painted any color that the buyer would prefer. Act now and customize additional features to your perfect beach house!! Come see it today!!!
House Usage
- 4 shares total
- 13 weeks a year per share
Calculated Costs per Share
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$97,500
|
|
Closing Cost
$29,250
|
|
Reserve Fund Deposit
$14,625
|
|
Total Cash at Closing
$141,375
|
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
$2,862
|
|
Insurance/Taxes
$528
|
|
Repairs
$406
|
|
Maintenance
$406
|
|
Utilities
$103
|
|
Cleaning
$56
|
|
Total Expenses
$4,361
|
|
ESTIMATED MONTHLY INCOME PER SHARE
|
|
Monthly Income
$4,875
|
|
Total Monthly Income
$4,875
|
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
- Keller Williams Innovate-OIB Mainland
- Last updated at
- October 16th, 2024
- List Agent
- Listings Access
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