adjust possible shares to see calculations for more or less people
$82,500
home price
$8,250
cost per share
$135 / mo
monthly cost
Active
status
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$1,650
|
|
Closing Cost
$495
|
|
Reserve Fund Deposit
$248
|
|
Total Cash at Closing
$2,393
|
Details
3 bedrooms
| 4 bath
| 1,736
sqft
This beautiful two bedroom home is located in the Hammocks Community on Bald Head Island, North Carolina. The third bedroom is in the Crofter. The Hammocks are a fractional ownership community which allows four weeks of usage a year, one week per season on a rotating basis. Included in your HOA fees, you will be a member of the Hammocks Club, Bald Head Island Club and the Shoals Club. There is a bridge from the Hammocks Club that extends over the lagoon for easy access to the Bald Head Island Club. As an owner, you have the option to join Interval International, which allows you to exchange your week for travel to over 6,000 plus resorts worldwide. This amazing home is well appointed and nicely renovated by Southern Studios giving you the feeling of being on the coast. Other than the availability to the multiple swimming pools, golf, croquet, tennis, fitness center, and dining options, there is a bike barn at the Hammocks Club where you have access to bikes from child to adult size during your stay to ride around the island. Also included with this Hammock is a 6 passenger golf cart. This is a perfect way to have a worry free vacation.
House Usage
- 10 shares total
- 5 weeks a year per share
Calculated Costs per Share
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$1,650
|
|
Closing Cost
$495
|
|
Reserve Fund Deposit
$248
|
|
Total Cash at Closing
$2,393
|
|
ESTIMATED MONTHLY EXPENSES PER SHARE
|
|
Mortgage Payment
$48
|
|
Insurance/Taxes
$9
|
|
Repairs
$7
|
|
Maintenance
$7
|
|
Utilities
$41
|
|
Cleaning
$23
|
|
Total Expenses
$135
|
|
ESTIMATED MONTHLY INCOME PER SHARE
|
|
Monthly Income
$83
|
|
Total Monthly Income
$83
|
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
- Last updated at
- January 4th, 2025
- List Agent
- Listings Access
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