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$1,599,000

Beds
4
Baths
2.5
sq ft
Unknown

597 Oyster Rake Dr, Johns Island, SC 29455

597 Oyster Rake Dr

Kiawah Island, SC 29455

  • 32 days on market
Nestled on the highly sought-after Kiawah Island, this 4-bedroom, 2.5-bath home offers over 2,000 sqft of living space. Whether you're looking for a primary residence, a vacation retreat, or an income-producing investment, this property fits the bill. Currently part of the Kiawah Island rental management program, it generates immediate rental income. Located near the guard gate, it's just a short bike ride to the beach, golf courses, swimming, tennis, and the charming shopping and dining options at Freshfields Village. You'll also enjoy access to the exclusive oceanside clubhouse, Sandcastle, featuring fitness facilities, events, an adult swimming pool, and a family-friendly pool with a playground. The home's kitchen boasts Carrara marble countertops and stainless steel appliances,by a formal dining room and a bright sunroom. The spacious living room features vaulted ceilings, offering a cozy yet open atmosphere. With accommodations for up to 8 guests, this home is perfect for families and groups. Due to the size of the 4th bedroom, it is currenty being utilized as an office, but would also make a great nursery or flex space. The home is being sold Fully Furnished with a few personal exceptions. This is an instant income producing property. The home has grossed over 70K in rental income in the past 9 months with October and November having good rentals coming in. Rolling right into 2025 with rentals on the books. Kiawah Island is a stunning barrier island located just 25 miles southwest of Charleston. It's known for its pristine beaches, luxury resorts, world-class golf courses, and abundant wildlife, the island is a serene getaway that attracts visitors looking for relaxation and outdoor adventure. Kiawah's natural beauty is preserved through careful development, with much of the island dedicated to nature reserves and parks, allowing for the preservation of its maritime forests, marshes, and dunes. This home is located just minuets from Freshfields Village, a vibrant shopping and dining destination located at the crossroads of Kiawah, Seabrook Island, and Johns Island. Freshfields offers a variety of boutiques, restaurants, and cafes, making it the perfect place for a leisurely afternoon of shopping or grabbing a bite to eat after a day on the beach. The village frequently hosts events, from farmers markets and outdoor concerts to art shows, adding to the lively, community-focused atmosphere. Kiawah Island is also surrounded by attractions that appeal to nature lovers, history buffs, and golf enthusiasts. The Kiawah Island Golf Resort is home to the world-renowned Ocean Course, one of the top golf courses in the country and the host of major tournaments such as the PGA Championship. For those who enjoy outdoor activities, there are miles of bike paths, opportunities for kayaking and paddleboarding, and guided nature tours through the island's marshlands. Don't miss your opportunity to own a piece of paradise.

Details

Property type

Single Family Residence

Est. home value

$1,315,143

Lot size

8,712 sq ft

Price per sq ft

Unknown

Year built

1979

Annual property taxes

$14,457

Monthly HOA fee

$229.5

Price History

10/04/2024
CTAR

CTAR #24025563

Listed
$1,599,000
+23%
10/27/2023
CTAR

CTAR #23020912

Sold
$1,300,000
+26.83%
11/01/2021
CTAR

CTAR #21022035

Sold
$1,025,000
+102.97%

Schools & Community

Elementary school: 

Mt. Zion

Middle school: 

Haut Gap

High school: 

St. Johns

Community features: 

Clubhouse, Fitness Center, Gated, Park, 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

$441,402
Asking price
$1,599,000
Closing costs (~8% of asking)
-$127,920
Est. remaining loan balance
-$1,029,678
Cash to seller
$441,402

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

Seller’s Loan History

Lender

United Wholesale Mortgage

Loan start date

October 2023

Original loan amount

$1,040,000

Est. remaining balance

$1,029,678

Interest rate

7.12%

Loan type

New Conventional, 30 year

Seller

Joshua Eggert and Helen French Eggert

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: 11/05/2024 at 11:35 PM

Listing updated: 11/04/2024 at 12:30 PM

Listed by: Kelly Wilburn, Nexthome Lowcountry Phone #: (803) 780-4536

MLS: CTAR #24025563

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