222 E Hudson Ave Folly Beach Sc 29439 main
222 E Hudson Ave Folly Beach Sc 29439 two
222 E Hudson Ave Folly Beach Sc 29439 three
222 E Hudson Ave Folly Beach Sc 29439 four
222 E Hudson Ave Folly Beach Sc 29439 five

Folly Beach Family Vacation House

9 available shares

$1,620,000

target home price

$135,000

cost per share

$1,217 / mo

estimated costs

$1,350 / mo

monthly income

CASH AT CLOSING PER SHARE
Down Payment
$27,000
Closing Cost
$8,100
Reserve Fund Deposit
$4,050
Total Cash at Closing
$39,150
Co-own this home
Details
3 bedrooms | 1.5 bath

HOME + LOT= Value add!

This turn-key charming Folly Beach cottage has been renovated from top to bottom, keeping everything you love about Folly and bringing in all of the modern details you're looking for. Brimming with personality and just a 5 minute walk to the sand and Center Street's restaurants and shops, prepare to fall in love. Entering from the front door you'll find a climate-controlled sun porch perfect for watching the world go by, curling up with a book, or catching a cat nap. The living room is filled with windows and sliding glass doors, opening into an eat-in kitchen. Two large sliding glass doors let the outside in, and offer a spacious deck perfect for morning coffee or an afternoon sipper. The kitchen is both functional and attractive, with walnut countertops, tile backsplash, plenty of cabinetry, and stainless appliances. There is a powder room and washer/dryer off of the kitchen as well. Three nicely sized bedrooms and a full bathroom with tiled shower/tub combo complete the home. Interested in adding on? Need another structure for your visiting family and friends? Can't stop thinking about a pool? The vacant, cleared lot next to this home is included and has endless possibilities! Renovation was completed October 2023. All top-of-the-line materials were used. High End LED Lighting throughout, solid walnut butcher block countertops, hardi plank siding on exterior, solid wood interior doors, PGT windows and sliding doors, wolf home products cabinetry, and more. A complete list is available upon request. Elevated with golf cart parking and extra storage underneath. This is truly a wonderful Folly Beach home. The rare extra lot can become a vollyball court, cookout area, or a pool can be added, extra parking even the home can be expanded. The ideas are endless and most homes don't have this much extra space.

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

I'm Stephen the Greater Charleston areas Plum Certified agent ask about details.Stephen Carroll - Eco Broker, CSP, RealtorOwner ~ Broker In ChargeLandcrafters Inc ~ Real Estate ~ Development520 Folly Road PMB 126 Charleston SC 29412843-608-1058 ~ LandcraftersSC@gmail.com

Amenities
We are looking for a house that includes:
  • Porch
House Rules
  • Only dogs allowed
  • No firearms allowed
  • No short term renting
Answered Questions
Ask a question
Home Inspiration
12 Co-owners 3 of 12
$122,083 per share

Calculated Costs per Share

Folly Beach Family Vacation House
Folly Beach, SC
CASH AT CLOSING PER SHARE
Down Payment
$27,000
Closing Cost
$8,100
Reserve Fund Deposit
$4,050
Total Cash at Closing
$39,150

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
$792
Insurance/Taxes
$146
Repairs
$113
Maintenance
$113
Utilities
$34
Cleaning
$19
Total Expenses
$1,217
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
$1,350
Total Monthly Income
$1,350

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.

Sign Up, Learn More

Unlock exclusive features & receive updates

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trustpilot
© 2024 Plum CoOwnership