adjust possible shares to see calculations for more or less people
$2,900,000
target home price
$290,000
cost per share
$2,563 / mo
monthly cost
Active
status
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$58,000
|
|
Closing Cost
$17,400
|
|
Reserve Fund Deposit
$8,700
|
|
Total Cash at Closing
$84,100
|
Details
5 bedrooms
| 7 bath
| 4,500
sqft
Beautiful ocean front house on a huge 0.62 acre lot. New construction! 4500 sq ft house with 5 oversized bedrooms and 6.5 bathrooms and 2 kitchens. Over 2000 Sq ft of open decks around the house. Gorgeous ocean views! Great place for a home or as an investment property. Plenty of space and things to do for everyone. There are pool, hot tub, game room, and a beautiful ocean walk with a gazebo. Invest in your own piece of paradise!
House Usage
- 10 shares total
- 5 weeks a year per share
Calculated Costs per Share
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$58,000
|
|
Closing Cost
$17,400
|
|
Reserve Fund Deposit
$8,700
|
|
Total Cash at Closing
$84,100
|
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
$1,702
|
|
Insurance/Taxes
$314
|
|
Repairs
$242
|
|
Maintenance
$242
|
|
Utilities
$41
|
|
Cleaning
$23
|
|
Total Expenses
$2,563
|
|
ESTIMATED MONTHLY INCOME PER SHARE
|
|
Monthly Income
$2,900
|
|
Total Monthly Income
$2,900
|
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
- Beycome Brokerage Realty LLC
- Last updated at
- October 17th, 2024
- List Agent
- Listings Access
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