adjust possible shares to see calculations for more or less people
$1,650,000
target home price
$412,500
cost per share
$3,715 / mo
monthly cost
Active
status
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$82,500
|
|
Closing Cost
$24,750
|
|
Reserve Fund Deposit
$12,375
|
|
Total Cash at Closing
$119,625
|
Details
5 bedrooms
| 6 bath
| 2,312
sqft
Welcome to your dream beach island retreat! This fully furnished 5-bedroom, 5.5-bath coastal home offers incredible versatility, making it the perfect primary residence, second home, or investment property with a strong rental history. Each spacious bedroom includes a private bathroom and a new streaming-enabled TV for ultimate comfort and convenience. The master suite features a jetted tub, a king-sized bed, and views of the Intracoastal Waterway (ICW). The interior has durable bamboo and wood flooring, while the cook's kitchen is equipped with stainless steel appliances, granite countertops, a pantry closet, and ample dining space with a table for 12 and a cozy breakfast area. Outdoor living is designed for relaxation and entertainment, featuring a sparkling inground pool, a covered eating area with a grill, and low-maintenance composite furniture around the pool and on the decks. A new outdoor shower with a changing area (added in 2024) and a pool and beach storage room under the home add even more convenience. The expansive composite decks, vinyl handrails, and privacy fence are all built for ease of upkeep, so you can spend more time enjoying the property. With plenty of parking and recent updates including a new HVAC system (2023), a fortified roof replacement scheduled for January 2025, and interior painting planned for March 2025, this home will be ready for you to enjoy. Located just steps from beach access walkways, close to fantastic local restaurants, and within reach of free summer concerts, this property truly captures the best of island living. Whether enjoying ocean views from the decks, lounging by the pool, or hosting family and friends, this home has your comfort in mind.
House Usage
- 4 shares total
- 13 weeks a year per share
Calculated Costs per Share
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$82,500
|
|
Closing Cost
$24,750
|
|
Reserve Fund Deposit
$12,375
|
|
Total Cash at Closing
$119,625
|
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
$2,421
|
|
Insurance/Taxes
$447
|
|
Repairs
$344
|
|
Maintenance
$344
|
|
Utilities
$103
|
|
Cleaning
$56
|
|
Total Expenses
$3,715
|
|
ESTIMATED MONTHLY INCOME PER SHARE
|
|
Monthly Income
$4,125
|
|
Total Monthly Income
$4,125
|
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
- Coldwell Banker Sea Coast Advantage
- Last updated at
- January 15th, 2025
- List Agent
- Listings Access
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