5 Edgewater Alley Isle of Palms, SC 29451
Estimated Value: $2,201,000 - $2,744,000
4
Beds
3.5
Baths
3,462
Sq Ft
$723/Sq Ft
Est. Value
Highlights
- Beach Access
- Fitness Center
- Clubhouse
- Sullivans Island Elementary School Rated A
- In Ground Pool
- Deck
About This Home
As of May 2015Welcome to 5 Edgewater Alley, located in Wild Dunes on the Isle of Palms, SC, just 12 miles from historic Charleston. Check out the new price on this upgraded, turn-key home with pool. The gross rental income for 2014 was $69,634. Projections for 2015 are $80,000 with $23,704 YTD. The rental potential is just phenomenal and here's why.The owners have meticulously maintained this investment property and have made numerous improvements to include a renovated kitchen in 2013, which included a new stainless refrigerator/freezer, dishwasher, downdraft cook-top, back-splash and granite counter-top. Floors were refinished throughout the first floor, including the steps and the exterior was repainted. In 2014 a new HVAC system was installed, some plumbing fixtures replaced in the upstairs baths, new handrails around the deck were installed and the deck repainted. A new 50-gallon gas tank was installed as was new foam insulation under the entire home, and a new landscaping plan was implemented.
5 Edgewater Alley has the flexibility to be used and enjoyed as either an income producing property now with the rental income used to pay your taxes and insurance and some mortgage expenses; and then later as a primary residence or second home. 5 Edgewater Alley also has the luxury of entry from two sides of the home – one just outside the gates along Palm Blvd, the other from with the gates of Wild Dunes, Isle of Palms' luxury resort.
The first floor features an open, airy floor plan with a large entry foyer, beautiful wide-plank hardwood flooring throughout the first floor, a spacious, renovated kitchen, and a dining area that flows into a large two story great room with a fireplace. The great room has a wall of glass letting in tons of natural light and opens on either side to a large deck overlooking the pool and beautifully landscaped grounds.
Also on the first floor is a large master suite with an enormous walk-in closet and a nicely appointed master bath. Upstairs are 3 additional bedrooms (2 with hardwood flooring) and two full bathrooms.
At grade, there is a great recreational area that can be used as a game room, storage, extra bedroom, etc. This space opens onto the pool area and a covered area under the upper decking.
5 Edgewater Alley is situated on a private lot just a short two- minute stroll to the beach and is a part of the Wild Dunes Resort.
Wild Dunes is located on the Isle of Palms, just 12 miles north of historic Charleston and is a world-renowned 1600-acre resort community, complete with two challenging Tom Fazio golf courses (ranked 'Best in State' by Golf Digest), exquisite fine dining at the Sea Island Grill, more casual dining at the Lettered Olive, the Isle of Palms Marina and more than six miles of pristine beaches, bicycle and walking paths. Wild Dunes and the Isle of Palms are enjoyed by year round residents and guests alike.
Expenses are minimal and include: $748 a year to the Wild Dunes Community Association plus $100 if property is a rental. For 2014 the Home Owners Insurance is $7731, Flood is $736 and taxes were $10,058.
Last Agent to Sell the Property
Dunes Properties of Chas Inc License #23183 Listed on: 02/08/2015
Home Details
Home Type
- Single Family
Est. Annual Taxes
- $9,831
Year Built
- Built in 1996
Lot Details
- 0.29 Acre Lot
- Cul-De-Sac
- Wrought Iron Fence
- Partially Fenced Property
- Privacy Fence
- Irrigation
HOA Fees
- $62 Monthly HOA Fees
Parking
- Off-Street Parking
Home Design
- Traditional Architecture
- Pillar, Post or Pier Foundation
- Raised Foundation
- Architectural Shingle Roof
- Wood Siding
Interior Spaces
- 3,462 Sq Ft Home
- 3-Story Property
- Cathedral Ceiling
- Ceiling Fan
- Skylights
- Window Treatments
- Entrance Foyer
- Family Room with Fireplace
- Formal Dining Room
- Bonus Room
- Game Room
Kitchen
- Eat-In Kitchen
- Dishwasher
Flooring
- Wood
- Ceramic Tile
Bedrooms and Bathrooms
- 4 Bedrooms
- Walk-In Closet
- Garden Bath
Laundry
- Dryer
- Washer
Outdoor Features
- In Ground Pool
- Beach Access
- Deck
- Covered patio or porch
Schools
- Sullivans Island Elementary School
- Laing Middle School
- Wando High School
Utilities
- Cooling Available
- Heat Pump System
Community Details
Overview
- Club Membership Available
- Wild Dunes Subdivision
Amenities
- Clubhouse
Recreation
- Golf Course Membership Available
- Fitness Center
- Trails
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Feb 8, 2015
Closed on
May 20, 2015
Sold by
Schweitzer Kurt J and Schweitzer Patricia J
Bought by
Barnwell Tom and Barnwell Debbie
Seller's Agent
Betty Poore
Dunes Properties of Chas Inc
Buyer's Agent
Vannessa Carter
Dunes Properties of Chas Inc
List Price
$922,000
Sold Price
$922,000
Total Days on Market
56
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$1,581,011
Avg. Annual Appreciation
9.64%
Original Mortgage
$737,600
Outstanding Balance
$559,047
Interest Rate
2.43%
Mortgage Type
Adjustable Rate Mortgage/ARM
Estimated Equity
$1,768,879
Purchase Details
Closed on
Oct 15, 2003
Sold by
Clarke Martha J
Bought by
Schweizer Kurt J and Schweizer Patricia J
Purchase Details
Closed on
Oct 17, 2001
Sold by
Clarke Martha J
Bought by
Clarke Martha J
Similar Homes in Isle of Palms, SC
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Barnwell Tom | $922,000 | -- | |
| Schweizer Kurt J | $750,000 | -- | |
| Clarke Martha J | -- | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Barnwell Tom | $737,600 | |
| Previous Owner | Schweitzer Kurt J | $366,000 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 05/29/2015 05/29/15 | Sold | $922,000 | 0.0% | $266 / Sq Ft |
| 04/29/2015 04/29/15 | Pending | -- | -- | -- |
| 02/06/2015 02/06/15 | For Sale | $922,000 | -- | $266 / Sq Ft |
Source: CHS Regional MLS
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2023 | $14,079 | $40,560 | $0 | $0 |
| 2022 | $13,256 | $60,840 | $0 | $0 |
| 2021 | $13,106 | $60,840 | $0 | $0 |
| 2020 | $12,927 | $60,840 | $0 | $0 |
| 2019 | $12,389 | $55,320 | $0 | $0 |
| 2017 | $11,840 | $55,320 | $0 | $0 |
| 2016 | $11,366 | $55,320 | $0 | $0 |
| 2015 | $11,656 | $59,630 | $0 | $0 |
| 2014 | $9,831 | $0 | $0 | $0 |
| 2011 | -- | $0 | $0 | $0 |
Source: Public Records
Agents Affiliated with this Home
-
Betty Poore
Seller's Agent in 2015
Betty Poore
Dunes Properties of Chas Inc
(843) 442-1889
9 in this area
10 Total Sales
-
Vannessa Carter
Buyer's Agent in 2015
Vannessa Carter
Dunes Properties of Chas Inc
(423) 967-0087
33 in this area
88 Total Sales
Map
Source: CHS Regional MLS
MLS Number: 15003305
APN: 604-09-00-096
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