Ocean Isle Beach Nc main
Ocean Isle Beach Nc two
Ocean Isle Beach Nc three
Ocean Isle Beach Nc four

Ocean Isle/Sunset Beach area

7 available shares

$1,500,000

target home price

$187,500

cost per share

$1,696 / mo

estimated costs

$1,875 / mo

monthly income

CASH AT CLOSING PER SHARE
Down Payment
$37,500
Closing Cost
$11,250
Reserve Fund Deposit
$5,625
Total Cash at Closing
$54,375
Co-own this home
Details

Looking for a 3 or more bedroom house with access to the beach and a pool. Prefer Calabash, Sunset Beach, or Ocean Isle area. Very flexible.

I'm interested
House Usage
  • 8 shares total
  • 6 weeks a year per share
About the Organizer

Family of 4 with one child in college and one in high school. We live in Clemmons, NC and are looking for a vacation home option for our busy family.

Amenities
We are looking for a house that includes:
House Rules
  • Only dogs allowed
  • No firearms allowed
  • Short term renting permitted
Answered Questions
Ask a question
Home Inspiration
8 Co-owners 1 of 8
$185,625 per share
8 Co-owners 1 of 8
$199,875 per share
8 Co-owners 1 of 8
$115,625 per share

Calculated Costs per Share

Ocean Isle/Sunset Beach area
Ocean Isle Beach, NC
CASH AT CLOSING PER SHARE
Down Payment
$37,500
Closing Cost
$11,250
Reserve Fund Deposit
$5,625
Total Cash at Closing
$54,375

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
$1,101
Insurance/Taxes
$203
Repairs
$156
Maintenance
$156
Utilities
$51
Cleaning
$28
Total Expenses
$1,696
This total is an estimate of all the expected costs associated with owning a vacation home with a Plum certified ownership agreement.
Location, type of house, changes in interest rates and utilities can all change and affect the monthly cost throughout the term of ownership.
ESTIMATED MONTHLY INCOME PER SHARE
Monthly Income
$1,875
Total Monthly Income
$1,875

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.

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