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The details: Twelve year old 1300 square foot masonry house with propanel roof on a waterfront half acre on Privateer Bay on fabulous St John, a US Virgin Island that is two thirds National Park. An additional 670 square feet of maintenance free premium TREX deck for outdoor enjoyment.
Total of 3 bedrooms, 4 bathrooms in two separate units. The upper master suite has a complete kitchenette. Live in one and rent the other!
Do the math: Building costs start at $400 a square foot for masonry, more for the East End. Deck costs run a minimum of $150 per square foot. A half -acre on the water, if you can even find it? At least $300K even in todays market. Plus appliances and furnishings.
Offered for a rock bottom price of $625K. You start with at least an additional $300K in equity! This house was built with love and respect for the environment. It needs to be sold only because of family circumstances.
Kitchen is currently getting a makeover with better cabinets and granite tops. New stove/ fridge/ dishwasher! What size is the house and where is it located on St John?
The house is on beautiful Privateer Bay on the East End of St John, USVI. There is a 20,000 gallon cistern and utility room, plus two bedrooms and three baths, kitchen/living and covered outdoor maintenance free TREX deck for the lower unit. The upper unit has a master room with full kitchenette, separate bathroom/closet and outdoor shower. There is a small upper deck as well.
Total of 1300 square feet indoors plus 670 square feet of outdoor deck for your enjoyment.
Can you tell me the expenses - taxes, utilities, etc.?
There is a homeowner association and the dues have been $1920 a year for over 10 years, even with some repair expenses to roads etc after the last two hurricanes, we had enough reserves so no increase. There is property owned in common, including two long beautiful beaches and two rental cottages, available for below market rental for members and their friends and families. Real estate taxes are currently $2300 a year for my house on a half acre on the water. Electricity is expensive, easy to spend $200 a month, even without AC (good breezes all year long); no solar at present, but very possible. Good Internet via satellite at present; "landline" internet and phone still not restored but probably within the next few months. Cell service at the house is poor, as is true for a lot of the island.
Is furniture or anything else included in the sale? You mention renting one of the units. Have you done that before? Can you tell me how often it has been rented in a year's time and the amount of rent received? Is it rented through AirBnB or through a rental company?
Houses on island generally are sold with all furnishings included. The upper unit was rented consistently as a short term rental through Air B and B until the hurricanes, getting about $100 a night (inexpensive for St John). I have had the lower unit consistently rented for $1600 a month. In the past I have rented both units for $2600 a month. For a long time we kept the upper unit for use by our family, and just rented the lower two bedroom. It is easy to find a good property manager if you will not be living in either unit yourself.
What is the area like? Is it safe? Is it close to an area with hotels and restaurants?
There are two main towns on St John, Cruz Bay and Coral Bay. We are fifteen minutes from Coral Bay and 45 from Cruz Bay. Coral Bay is still recovering from the hurricanes in terms of restaurants re-opening. There are just a few at present. The East End is the "quiet" end of the island. Not a lot of night life. St John is 2/3rds National Park, so in general not as loud and lively as other Caribbean places. The area is very safe and just about everyone who lives on St John is well off, as opposed to St Thomas where there is significant poverty. There are only two houses built on our entire Bay, so lots of quiet and privacy. That is what people who B and B or rent there are looking for. And besides the rock/coral beach out the door, just over the hill is a nice sandy beach and just 15 minutes to any of the best North shore beaches.
The next step: Contact Victor La Cerva
- Square Feet: 1,300
- Bedrooms: 3
- Bathrooms: 4
- Structure Type: Multi-Family
- Lot Size: 0 Acres
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