adjust possible shares to see calculations for more or less people
$825,000
target home price
$82,500
cost per share
$775 / mo
monthly cost
Active
status
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$16,500
|
|
Closing Cost
$4,950
|
|
Reserve Fund Deposit
$2,475
|
|
Total Cash at Closing
$23,925
|
Details
4 bedrooms
| 4 bath
| 1,848
sqft
Looking for an opportunity to own a beautiful creek and marsh side home on Bald Head Island for half the cost? If so, explore with me the 50% fractional ownership opportunity offered in Lighthouse Landing 14. This 50% undivided deeded ownership offers you plenty of island time in this 4 bedroom, 3,5 bath home with some of the best creek views in the neighborhood. Fully appointed, this home has everything you'll need to start living the BHI life from day one. Fully furnished, (2) golf carts, bikes, beach toys, creek toys, and the opportunity to become an add-on member to the BHI Club, this home has it all. The ground level of this property offers a (2) cart garage, screened ''kid hang-out'' and storage area as well as a nice entry foyer with storage closet. Up a half flight of stairs, you'll find the main living area and magnificent creek views. Living, Dining, Kitchen, Creek View Deck...Up another half flight of steps is the half bath/laundry room combo and the primary suite with spacious bathroom. Heading upstairs to the full second level you'll discover three more bedrooms and two full baths. From the view deck off the main living area, you can follow steps from the deck to the neighborhood boardwalk. A short distance down the boardwalk is the neighborhood floating creek dock. A joint ownership and usage agreement is in place and will be updated to reflect the new 50% owner. 2024 financials and 2025 budget available upon request. 2025 usage schedule will be available soon.
House Usage
- 10 shares total
- 5 weeks a year per share
Calculated Costs per Share
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$16,500
|
|
Closing Cost
$4,950
|
|
Reserve Fund Deposit
$2,475
|
|
Total Cash at Closing
$23,925
|
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
$484
|
|
Insurance/Taxes
$89
|
|
Repairs
$69
|
|
Maintenance
$69
|
|
Utilities
$41
|
|
Cleaning
$23
|
|
Total Expenses
$775
|
|
ESTIMATED MONTHLY INCOME PER SHARE
|
|
Monthly Income
$825
|
|
Total Monthly Income
$825
|
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
- Tiffany's Beach Properties
- Last updated at
- November 27th, 2024
- List Agent
- Listings Access
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