Get Ready to Womble
1 of 7
shares taken / 6 available shares$710,000
target home price
$101,428
cost per share
$294 / mo
estimated costs
$0 / mo
monthly income
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$20,286
|
|
Closing Cost
$9,729
|
|
Reserve Fund Deposit
$3,043
|
|
Total Cash at Closing
$90,871
|
Details
Looking for fractional owners for our home on Oak Island. A comfortable, well kept, three bedroom home. Sleeps 8 comfortably, great backyard and pet friendly. On the same street as the Oak Island Pier, 4 blocks back from ocean.
House Usage
- 7 shares total
- weeks a year per share
About the Organizer
My husband and I have owned the home for a little over 2 years. We have two small children and are unable to get to the house as often as we had hoped and would love to share it with others! The house is in a quiet neighborhood, very comfortable, and well appointed. With both front and back porches and a fenced in back yard, the house feels very spacious! And is great for small dogs, as well.
Amenities
- Fire place
- Porch
House Rules
- Only dogs allowed
- No firearms allowed
- Short term renting permitted
Ask A Question
1 of 7
Calculated Costs per Share
|
CASH AT CLOSING PER SHARE
|
|
Down Payment
$20,286
|
|
Closing Cost
$9,729
|
|
Reserve Fund Deposit
$3,043
|
|
Total Cash at Closing
$90,871
|
|
ESTIMATED MONTHLY EXPENSES PER SHARE
|
|
Insurance/Taxes
$135
|
|
Repairs
$12
|
|
Maintenance
$52
|
|
Utilities
$45
|
|
Plum Subscription
$50
|
|
Total Expenses
$294
|
|
ESTIMATED MONTHLY INCOME PER SHARE
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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.