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$3,899,000

Beds
Unknown
sq ft
Unknown

11 George St, Charleston, SC 29401

11 George St

Charleston, SC 29401

  • 122 days on market
    • Price drop $51,000↓
This stunning 5,100 sq ft single-family residence, the historic Mary Scott House built in 1813, is located in the highly sought-after Ansonborough neighborhood of Charleston. With 4 spacious bedrooms and 4 bathrooms, this historic home offers an ideal blend of comfort and charm. The property features a well-appointed kitchen, a cozy living room, an elegant dining room, and a welcoming family room. Additionally, there are two finished playrooms, perfect for children or as private retreats.For added convenience, the home includes a mother-in-law or nanny suite, complete with its own full kitchen, living room, bedroom, bath and separate entry, ensuring privacy for guests or extended family.In addition to the main house the property boats a separate 1100 sq ft Carriage House ( not part of 5100 sq ft main house ) with two fully furnished 550 sq ft rental units, each with a kitchen, 1 bedroom, 1 bath, and a living room. With a proven rental history, these units average $6,000 per month, totaling $144,000 per year. The property comes with legal short-term rental licensing from the City of Charleston, making it a rare find. Parking is plentiful with 8 off-street spaces, and there's room for 2 more, a significant advantage in this vibrant neighborhood. Another incredible attribute of 11 George is the investment flexibility it could provide. The six units can be leased for approximately one hundred and forty-four thousand a year, additionally there is opportunity to short rent for seventy two thousand dollars. With over two hundred thousand dollars in income you can live downtown in southern elegance with your expenses covered!

Details

Property type

Est. home value

$4,259,941

Lot size

0.27 acres

Price per sq ft

Unknown

Year built

1813

Price History

11/04/2024
CTAR

CTAR #24021128

Price change
$3,899,000
-1.29%
10/31/2024
CTAR

CTAR #24021128

Removed
$3,950,000
08/21/2024
CTAR

CTAR #24021128

Listed
$3,950,000
+5.33%

Schools & Community

Neighborhood: 

Ansonborough

Elementary school: 

Memminger

Middle school: 

Simmons Pinckney

High school: 

Burke

Seller’s Loan History

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

Lender

South Atlantic Bank

Loan start date

November 2023

Original loan amount

$2,962,500

Est. remaining balance

Not provided

Interest rate

7.19%

Loan type

Future Advance Clause / Open End Mortgage, 5 year

Seller

Michael N Russo Jr and Logan T Russo Trust

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?

Status: Active

Tomo last checked: 12/22/2024 at 12:30 AM

Listing updated: 12/02/2024 at 9:50 PM

Listed by: Kenneth Nix, Land South of Charleston, LLC Phone #: (843) 577-5263

MLS: CTAR #24021128

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