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$2,625,000

Beds
5
Baths
4.5
sq ft
Unknown

36 Fairway Oaks Ln, Isle Of Palms, SC 29451

36 Fairway Oaks Ln

Isle of Palms, SC 29451

  • 58 days on market
    • Price drop $70,000↓
This beautifully renovated and exquisitely furnished five bedroom home offers island living at its finest. Fairway Oaks is one of the most coveted streets in the Resort, lined with gracious live oaks to shade your short walk to the beach. The open kitchen, dining/family room layout and design provides a sense of both spaciousness and warmth, whether you're gathered around the fireplace on a cold winter night or enjoying a large gathering with family and friends. With high-end and tasteful finishes throughout, there is very little you need to do to make this house your home. As a primary residence, you can enjoy the privacy of this location while remaining within easy walking distance of the tennis courts, beach, golf course and hotel amenities. If you're looking for a second home withrental potential, you will not be disappointed--please see the rental projections attached in the documents. The master bedroom is on the first floor with immediate access to the screened porch and the remaining bedrooms are on the second floor with two ensuite bedrooms and a large rooftop deck. The house sleeps 15 people comfortably. Special features include a temperature-controlled wine cellar, a new outdoor shower, and a very large garage for storage. Three new HVAC units were recently installed and are under warranty. Although it would require WDCA approval of submitted plans, the property has plenty of room for the addition of a pool (see attached survey). Wild Dunes Resort offers two Tom Fazio-designed golf courses, 12 hartrue tennis courts, five pickle ball courts, countless pools, a fitness center and world class spa, and miles of walking and biking paths. Come take a peek--you will not be disappointed!

Details

Property type

Single Family Residence

Est. home value

$2,419,858

Lot size

0.28 acres

Price per sq ft

Unknown

Year built

1987

Annual property taxes

$18,733

Monthly HOA fee

$75

Price History

11/08/2024
CTAR

CTAR #24024713

Price change
$2,625,000
-2.6%
09/24/2024
CTAR

CTAR #24024713

Listed
$2,695,000
+96%
09/22/2020
CTAR

CTAR #20022120

Sold
$1,375,000

Schools & Community

Elementary school: 

Sullivans Island

Middle school: 

Moultrie

High school: 

Wando

Community features: 

Clubhouse, Fitness Center, Gated, Pool, Tennis Court(s)

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

$1,479,587
Asking price
$2,625,000
Closing costs (~8% of asking)
-$210,000
Est. remaining loan balance
-$935,413
Cash to seller
$1,479,587

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

Seller’s Loan History

Lender

Truist Bank

Loan start date

September 2020

Original loan amount

$1,031,250

Est. remaining balance

$935,413

Interest rate

2.88%

Loan type

New Conventional, 30 year

Seller

Richard M Mcrae and Ashley Dalton Mcrae

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: 11/22/2024 at 10:55 AM

Listing updated: 11/08/2024 at 7:30 PM

Listed by: Ann Cortes, Carolina One Real Estate Phone #: (843) 886-8110

MLS: CTAR #24024713

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