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$1,250,000

Beds
2
Baths
2.0
sq ft
1,484

1016 E Cooper Av, Folly Beach, SC 29439

1016 E Cooper Av

Folly Beach, SC 29439

  • 71 days on market
This may be the Folly Beach property you have been dreaming of! ''Made in the Shade'' is a fully-furnished island retreat tucked beneath a breezy canopy of live oak trees, only steps from the sand. This nearly 2,000 sq ft home features a versatile duplex layout that lives large: a generously proportioned primary home, and completely separate mother-in-law suite. The ''owner's side'' boasts an updated kitchen/living space with high ceilings, granite countertops, skylights, kitchen island, and built-in entertainment. An oversized primary bedroom suite features vaulted ceilings with ample space for a king bed, workstation, and additional storage. The newly updated (2024) primary bath leads to a bonus room with space for a queen bed, office, gym, or custom master closet.Just off the kitchen, a light-filled sunroom leads to the backyard oasis, featuring a 500-gallon hot tub, bathhouse with hot/cold shower, clawfoot soak tub, and ample deck space for dining, games, and entertainment. The attached 700 sq ft ADA friendly mother-in-law suite contains an open kitchen/living/dining area and separate king-size bedroom suite with full bath. Other notable property features include premium metal roof, central AC with new (2024) air ducts, new (2024) Rannai tankless water heater, Rainbird wifi irrigation, backyard storage shed with golf cart parking, two covered screen porches, and 12-volt landscape lights to illuminate the treetops while you soak under the stars. Uniquely situated behind this full-lot property is the "East Erie Extension," a quiet back road where kids (and adults) can play without worry. This investment positions you squarely within a rapidly growing enclave of custom homes, just a short walk from a top surf spot on the island. "Made in the Shade" has a history of six-figure income and the unique duplex format creates unrivaled rental opportunities for its future owners. One of the best values on the market today, this turnkey gem is one you don't want to miss!

Details

Property type

Single Family Residence

Est. home value

$947,826

Lot size

0.24 acres

Price per sq ft

$843

Year built

1958

Annual property taxes

$7,080

Price History

05/13/2024
CTAR

CTAR #24010590

Listed
$1,250,000
04/30/2024
CTAR

CTAR #24010590

Pending
$1,250,000
04/27/2024
CTAR

CTAR #24010590

Listed
$1,250,000
+157.73%

Schools & Community

Elementary school: 

James Island

Middle school: 

Camp Road

High school: 

James Island Charter

Community features: 

Park

Number of units in community: 

2

Negotiation Insights

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Seller could get up to

$733,358
Asking price
$1,250,000
Closing costs (~8% of asking)
-$100,000
Est. remaining loan balance
-$416,642
Cash to seller
$733,358

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

Cmg Mortgage Inc

Loan start date

October 2019

Original loan amount

$460,750

Est. remaining balance

$416,642

Interest rate

3.49%

Loan type

New Conventional, 30 year

Seller

Andrew Wilson Lassiter

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

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Status: Active

Tomo last checked: 07/07/2024 at 6:35 PM

Listing updated: 05/17/2024 at 10:50 AM

Listed by: Carrie Rosen, Sweet Grass Real Estate, LLC Phone #: (843) 633-0262

MLS: CTAR #24010590

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