A walk away from Downtown Blowing Rock
$949,000
target home price
$474,500
cost per share
$4,408 / mo
estimated costs
$4,745 / mo
monthly income
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CASH AT CLOSING PER SHARE
|
|
Down Payment
$94,900
|
|
Closing Cost
$28,470
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Reserve Fund Deposit
$14,235
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Total Cash at Closing
$137,605
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Details
THE MOST AMAZING VIEWS IN BLOWING ROCK! Live above the clouds at Chateaux Cloud, a luxury community walking distance to Village Center. Walk to restaurants, shopping, festivals, the community park and more! From your back deck witness the awe of nature from The Blowing Rock to Grandfather Mountain! As far as the eye can see including the Pisgah National Forest, Johns River Gorge, Grandmother Mountain, Hanging Rock and beyond! Condo is fully furnished with a list of exceptions to be provided upon request. Full time RESIDENT MANAGER living onsite for all your needs including checking on your home in your absence, making sure your investment is safe and protected. From watering plants to placing packages inside your home, the resident manager is your peace of mind! This unit was updated by current owners and has 2 bedrooms and 3 full baths. All bathrooms have heated floors. The kitchen, dining, and living room all sit squarely overlooking the epic view and providing the epitome of that High Country vision. Massive kitchen with island, Wifi and Cable $190 quarterly. Mini Splits in main living area and master bedroom provide additional heat and air. Master bath with walk in tile shower overlooking the view. The perfect escape, Elevator available for ease of transport to all levels. Move in ready! No washer or dryer in unit. Hook up available for stackable in closet by master bathroom
House Usage
- 2 shares total
- 26 weeks a year per share
About the Organizer
We have been going to Blowing Rock for over 20 years and we loved enjoying this condo. The views are incredible and it's a short walk to downtown Blowing Rock. We have noted that we do have a dog -- but it is small and hypoallergenic (a non-shedding, Welsh Terrier). We would not be too fond of a large, shedding dog(s). We have another condo under contract in Blowing Rock but would love to continue to have ownership in this one as well.
Amenities
- Porch
House Rules
- Only dogs allowed
- No firearms allowed
- No short term renting
Ask A Question
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Calculated Costs per Share
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CASH AT CLOSING PER SHARE
|
|
Down Payment
$94,900
|
|
Closing Cost
$28,470
|
|
Reserve Fund Deposit
$14,235
|
|
Total Cash at Closing
$137,605
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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.
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ESTIMATED MONTHLY EXPENSES PER SHARE
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Mortgage Payment
$2,785
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Insurance/Taxes
$514
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Repairs
$395
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Maintenance
$395
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Utilities
$205
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Cleaning
$113
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Total Expenses
$4,408
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ESTIMATED MONTHLY INCOME PER SHARE
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Monthly Income
$4,745
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Total Monthly Income
$4,745
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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.