Co-Ownership – Blowing Rock, NC Mountain Home
Blowing Rock, NC, USA
Rental Income $175,000 per 1/4 share - Fractional Home LLC
4 Bedrooms

Mountain Fractional Home in Blowing Rock, NC

My wife and I are a close-knit couple with three wonderful kids aged 28, 11, and 9. We’re settled in the scenic Piedmont region of North Carolina. We already have a small share in a home on Kiawah Island, but now we’re looking for a mountain retreat. We’re an active family who loves playing golf and hiking. Our favorite hiking spots include Pisgah National Forest trails, panoramic views from Grandfather Mountain, and walks along the Appalachian Trail. Spending quality time with our children, whether hiking through landscapes or a family game night, means the world to us.

With our two youngest kids involved in school and sports, our schedules are packed, making it challenging to get away as often as we’d like. This is why a mountain home would be perfect for short-term rentals when we’re not using it.  Based on rental comps, we could earn about $1,700 monthly from this home as a vacation rental. This income would cover the expenses of the house, making it a practical choice for the families that co-own with us.

Own 1/4th of this $700k Home

Our homeowner group is searching for a mountain house with 3 to 4 bedrooms. It is essential that the home offers a view of the mountains, and ideally, it should be located near or on a golf course. A somewhat luxurious property is ideal for the house’s design. A key feature is extensive outdoor areas, particularly a large deck and screened-in porches.  Additionally, we would like to be flexible with allowing short-term rentals when not using the house.

  • Outdoor eating areas
  • Mountain Views
  • Short-term rentals allowed

Cost of Ownership

The estimated total cash required at closing per share is $50,750 for the Blowing Rock NC Mountain House. This includes a down payment of $35,000, closing costs of $10,500, and a reserve fund deposit of $5,250. These calculations are based on the property financed with a 30-year mortgage at an 8.0% interest rate. The down payment represents 20% of the house’s value, the closing costs account for 6%, and the initial reserve fund is 3% of the house’s value.

In terms of monthly expenses, the estimated total is $1,667 per share. This includes a mortgage payment of $1,027, insurance and taxes at $190, repairs and maintenance costing $146, utilities at $103, and cleaning services at $56. This estimate is for a vacation home under an ownership agreement, and factors like location, house type, fluctuating interest rates, and utilities can influence these costs over time.

The estimated monthly rental income is $1,750. This means the expected monthly income slightly exceeds the estimated monthly expenses, potentially offering a small monthly surplus.

 

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