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$1,650,000

Beds
7
Baths
4.5
sq ft
2,294

1302 S Ocean Blvd, North Myrtle Beach, SC 29582

1302 S Ocean Blvd

North Myrtle Beach, SC 29582

  • 22 days on market
    • Price drop $149,500↓
TURN-KEY INVESTMENT PROPERTY! Welcome To Penelope's Paradise, a newly renovated 7-Bedroom / 4-Full Bathroom property sleeping 16-18 guests located in North Myrtle Beach's Crescent Beach section, second row from the beach and directly across from a public beach access. This property has been fully renovated and professionally designed to truly stand out from its competition as a rental/investment property. Featuring New Floors, New Paint, All New Furnishings, New Plumbing, New Electrical, New HVAC, New TREX Decks, New Deck Railings and so much more! Ample room to enjoy the beautiful weather at the oversized pool or hot tub, parking in the front & rear of the property, and includes a game room setup with a Pool Table and three classic arcade games. This property will be one of the highest income producing rental properties in our area once it is rented for a full calendar year, don't miss the opportunity to secure this incredible passive income generating property!

Details

Property type

Single Family Residence

Est. home value

$849,739

Lot size

5,227 sq ft

Price per sq ft

$720

Year built

1970

HOA

Yes

Price History

06/20/2024
MyrtleBeach

MyrtleBeach #2413919

Price change
$1,650,000
-8.31%
06/10/2024
MyrtleBeach

MyrtleBeach #2413919

Listed
$1,799,500
+110.47%
08/24/2023
MyrtleBeach

MyrtleBeach #2317637

Sold
$855,000

Schools & Community

Elementary school: 

Ocean Drive Elementary

Middle school: 

North Myrtle Beach Middle School

High school: 

North Myrtle Beach High School

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

$720,169
Asking price
$1,650,000
Closing costs (~8% of asking)
-$132,000
Est. remaining loan balance
-$797,831
Cash to seller
$720,169

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

Seller’s Loan History

Lender

Russell J Authority Senior

Loan start date

August 2023

Original loan amount

$804,857

Est. remaining balance

$797,831

Interest rate

6.81%

Loan type

New Conventional, 30 year

Seller

Ras South Llc

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: 07/02/2024 at 7:35 PM

Listing updated: 06/20/2024 at 8:03 AM

Listed by: Russell Auth, Palms Realty Phone #: (843) 310-6855

MLS: MyrtleBeach #2413919

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