adjust possible shares to see calculations for more or less people
$240,000
target home price
$24,000
cost per share
$270 / mo
monthly cost
Active
status
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$4,800
|
|
Closing Cost
$1,440
|
|
Reserve Fund Deposit
$720
|
|
Total Cash at Closing
$6,960
|
Details
4 bedrooms
| 3 bath
| 2,290
sqft
FRACTIONAL OWNERSHIP - Wrightsville Beach Dream Home. 1/10th of this 4 bedroom, 3 bath luxury beach home could be your carefree beach destination 5 weeks of the year. Fractional ownership allows you to own a million-dollar+ beach house while sharing the cost with the other nine co-owners. Open floor plan beautifully decorated. Enjoy the fresh ocean air on your substantial two-level deck. Includes all furnishings, linens, cleaning service, outdoor shower, separate storage spaces for each owner. Sound access, day dock, and beach access. This opportunity makes the best possibility of an affordable option to own a piece of heaven at Wrightsville.
CAN ONLY BE SHOWN OF FRIDAYS BETWEEN 10AM-4PM
House Usage
- 10 shares total
- 5 weeks a year per share
Calculated Costs per Share
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$4,800
|
|
Closing Cost
$1,440
|
|
Reserve Fund Deposit
$720
|
|
Total Cash at Closing
$6,960
|
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
$141
|
|
Insurance/Taxes
$26
|
|
Repairs
$20
|
|
Maintenance
$20
|
|
Utilities
$41
|
|
Cleaning
$23
|
|
Total Expenses
$270
|
|
ESTIMATED MONTHLY INCOME PER SHARE
|
|
Monthly Income
$240
|
|
Total Monthly Income
$240
|
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
- Coastal Management & Real Estate, Inc.
- Last updated at
- January 21st, 2025
- List Agent
- Listings Access
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