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$1,999,000

Beds
4
Baths
3.0
sq ft
Unknown

420 E Erie Av, Folly Beach, SC 29439

420 E Erie Av

Folly Beach, SC 29439

  • 23 days on market
    • Price drop $51,000↓
Step back in time with this fully restored vintage surf cottage, nestled in the heart of Folly Beach and situated in an X flood zone, ensuring peace of mind. This spacious home, located on a highly desirable street-to-street lot, with an array of private outdoor spaces for both of its units, providing the perfect blend of charm and modern convenience.**Unit 1** features three sizeable bedrooms and two baths, an open-concept kitchen, living, and dining combo, and an extra-large dream pantry. The dual walk-in closets offer ample storage, while the two large screened-in porches and private outdoor space invite relaxation. Additionally, this unit comes wired for a hot tub, adding a touch of luxury to your beachside retreat.Two outdoor spacious sheds for storing your essentialsUnit 2 offers a large bedroom, a bathroom, and an open-concept kitchen, dining, and living area. The private screened-in porch and outdoor shower enhance the cottage's appeal, while the outdoor space is perfect for a variety of activities, from bocce and corn hole to barbecues and a mini putt-putt course. This home must be seen to appreciate all it has to offer! Don't miss out on this unique opportunity to own a piece of Folly Beach history. Apartment has historically made $50k/year in rentals. It can also be used as a Long Term Rental or a giant man/woman cave. There is a lockable joint utility room that accesses the Apartment from the Main House. FULLY Renovated in 2020 All electrical, including hot tub connection All plumbing All new appliances (washer, dryer, stove, oven, built in microwave) Awning Leaf gutters Impact glass windows and front door. Reconfigured kitchen and pantry Can lighting throughout, fans in bedrooms and living room Charleston-inspired decorative tile backsplash in kitchen Raised ceiling in coffee nook Reconfigured master suite All new bathrooms Hardwood flooring throughout / tile in master bedroom Tankless water heater AC Unit Spray coating under house New insulation in attic New 10 ft privacy fence around entire yard (house and apt) Custom Gate In APARTMENT (Renovated in 2021) Impact glass windows All new kitchen and appliances New washer/dryer New flooring AC Unit w dehumidifier Spray foam coating under house New kitchen Remodeled bathroom Leaf Gutters

Details

Property type

Single Family Residence

Est. home value

$1,794,736

Lot size

0.24 acres

Price per sq ft

Unknown

Year built

1940

Annual property taxes

$2,935

Price History

10/01/2024
CTAR

CTAR #24023460

Price change
$1,999,000
-2.49%
09/23/2024
CTAR

CTAR #24023460

Price change
$2,050,000
-4.65%
09/18/2024
CTAR

CTAR #24023460

Price change
$2,150,000
-2.27%

Schools & Community

Elementary school: 

James Island

Middle school: 

Camp Road

High school: 

James Island Charter

Community features: 

Park, 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

$1,372,769
Asking price
$1,999,000
Closing costs (~8% of asking)
-$159,920
Est. remaining loan balance
-$466,311
Cash to seller
$1,372,769

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

Seller’s Loan History

Lender

Ameris Bank

Loan start date

October 2020

Original loan amount

$510,400

Est. remaining balance

$466,311

Interest rate

2.93%

Loan type

New Conventional, 30 year

Seller

Rachel J Babiarz and Michael J Babiarz

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: 10/06/2024 at 2:40 AM

Listing updated: 10/02/2024 at 2:20 AM

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

MLS: CTAR #24023460

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