NOT LISTED FOR SALE

615 E Erie Ave Folly Beach, SC 29439

Estimated Value: $1,351,000 - $2,063,000

6 Beds
4 Baths
2,885 Sq Ft
$600/Sq Ft Est. Value

Last Sold August 29, 2018

Last sale price $1,015,000 $352 Per Sq Ft

Est. 71% increase in value since last sale

Current estimated payment $10,448/month

60 Days on Market

Highlights

  • Central Air
  • Heating Available
  • 3-minute walk to Pirates Cove Playground
  • James Island Elementary School Rated A-

About This Home

As of August 2018

BACK ON THE MARKET...BUYER'S FINANCING FELL APART. Welcome to 615 E Erie Ave a stunning property that encompasses 3 exceptional turn key structures on 1 full street to street lot on beautiful Folly Beach. The main house, affectionately called Swabbies Place, is a raised 3 bedroom 2 bathroom home with gorgeous hardwood flooring, granite counter tops & stainless steel appliances. The open floor plan is perfect for full time living or exceptional for short or long term rentals. The front screened porch stretches wide & offers gorgeous river views and the rear wrap around deck is ideal for social gatherings, outdoor dining or afternoon cocktail hour. 3 large bedrooms offer plenty of room for family or guests and the bonus loft area makes an ideal at home office or additional sleeping quarters.Below the main house is a huge covered garage area suitable for multiple cars, has sectioned off separate storage areas and also a "mini garage" ideal for golf cart storage. Out back is a large fenced off section of the yard solely dedicated to the main house complete with gas grill, ample seating, lush indigenous natural vegetation and access to the outdoor shower. Simply the perfect setting for all occasions!
The two cottages on the Cooper Street side of the property could not scream beach life any better. "Picket Fence" is an exceptional and roomy 2 bedroom 1 bath beach cottage with gorgeous hardwood floors, bead board walls & ceilings and a large private front screened porch. The cottage is tastefully decorated & exceptionally functional. The kitchen has a gas cook top, a super cute "eat-in" seating area and access out the rear to the back yard and grilling area.
"Sea Glass" is a vintage 1 bedroom 1 bath beach cottage that is ideal for a couple, a couple with small child or spill over room for larger groups. This super cute cottage also has a lovely front screened porch, gorgeous hardwood flooring and an exceptionally functional kitchen area. Sea Garden also has rear access to the luscious tropical paradise backyard with a private seating area and use of a dedicated gas grill. Both cottages have direct access to a separate laundry room located below the main house as well.
This entire property went thru stunning upgrades and is superior in every way imaginable. Every detail that you could dream of for beach life living is encompassed with this unbelievable property. The property is just a short 2 minute walk to beach access and only 6 short blocks to Center St to enjoy all of the dining & shopping options that Folly Beach offers.
Gross rental income for 2017 was $120K and the bookings for 2018 are filling up quickly. All 3 cottages are being offered furnished minus personal items. Don't miss this one of a kind opportunity to own your own private oasis or vacation compound on beautiful Folly Beach. This one is truly one of a kind!

Last Agent to Sell the Property

Adam Killermann

Carolina One Real Estate Folly Beach License #56911 Listed on: 06/13/2018

Carolina One Real Estate Folly Beach

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $15,169

Year Built

  • Built in 1940

Lot Details

  • 10,454 Sq Ft Lot

Parking

  • 2 Car Garage

Home Design

  • Triplex
  • Metal Roof

Interior Spaces

  • 6 Bedrooms
  • 2,885 Sq Ft Home
  • Partially Furnished
  • Dishwasher
  • Washer

Schools

  • James Island Elementary And Middle School
  • James Island Charter High School

Utilities

  • Central Air
  • Heating Available
  • Septic Tank

Community Details

  • Folly Beach Subdivision
  • Gross Income $120,000

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$15,169

Year Built

Built in 1940

Lot Details

0

Parking

2

Listing Details

  • Prop. Type: Residential Income
  • Year Built: 1940
  • Lot Size Acres: 0.24
  • Inclusions: Some Furniture
  • Subdivision Name: Folly Beach
  • Directions: Center St To Erie. Left Onto E Erie. Main House Will Be On The Right Midway Of 6th Block. Two Cottages Are On E Cooper Side Of Lot.
  • Garage Yn: No
  • New Construction: No
  • Structure Type: Single Family Detached, Triplex
  • ResoBuildingAreaSource: Assessor
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Appliances: Dishwasher, Refrigerator, Washer
  • Total Bedrooms: 6

Exterior Features

  • Roof: Metal
  • Property Condition: Pre-Owned

Garage/Parking

  • Covered Parking Spaces: 2
  • Garage Spaces: 2
  • Open Parking: No
  • Parking Features: 2 Car
  • Total Parking Spaces: 2

Utilities

  • Cooling: Central Air, Other
  • Cooling Y N: Yes
  • Heating: Electric
  • Heating Yn: Yes
  • Sewer: Septic Tank
  • Water Source: Public

Schools

  • Elementary School: James Island
  • High School: James Island Charter
  • Middle Or Junior School: James Island

Lot Info

  • Lot Size Sq Ft: 10454.4
  • Zoning Description: Non-Conforming
  • ResoLotSizeUnits: Acres

Tax Info

  • Tax Map Number: 3281500168

Multi Family

  • Annual Gross Income: 120000

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 13, 2018
Closed on
Aug 27, 2018
Sold by
Folly Cottages Llc
Bought by
Macfie S Foll Llc
Seller's Agent
Adam Killermann
Carolina One Real Estate Folly Beach
Sold Price
$1,015,000
Current Estimated Value
$1,732,266

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$717,266
Avg. Annual Appreciation
7.79%
Original Mortgage
$675,000
Outstanding Balance
$503,660
Interest Rate
4.5%
Mortgage Type
New Conventional
Estimated Equity
$1,228,606

Purchase Details

Closed on
Jan 29, 2016
Sold by
Bessent Thomas V and Bessent Robin
Bought by
Folly Cottages Llc

Purchase Details

Closed on
Jun 27, 2013
Sold by
Wilson Leonard W and Wilson Susan M
Bought by
Bessent Thomas and Bessent Robin

Purchase Details

Closed on
May 1, 2009
Sold by
Carter Nancy J and Carter Marc L
Bought by
Wilson Leonard W and Wilson Susan M
Source: Public Records

Range of Values:

Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
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

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Macfie S Foll Llc $1,015,000 None Available
Folly Cottages Llc -- --
Bessent Thomas $685,000 --
Wilson Leonard W $360,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Macfie S Foll Llc $675,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
08/29/2018 08/29/18 Sold $1,015,000 -- $352 / Sq Ft
Source: CHS Regional MLS

Tax History Compared to Growth

Source: Public Records

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
2024 $15,169 $60,900 $0 $0
2023 $15,169 $60,900 $0 $0
2022 $14,230 $60,900 $0 $0
2021 $13,948 $60,900 $0 $0
2020 $13,769 $60,900 $0 $0
2019 $14,496 $60,900 $0 $0
2017 $5,323 $32,610 $0 $0
2016 $5,130 $32,610 $0 $0
2015 $5,038 $32,610 $0 $0
2014 $4,791 $0 $0 $0
2011 -- $0 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Section Image
See All Agents

Map

Source: CHS Regional MLS

MLS Number: 18016767

CHS Regional MLS

APN: 328-15-00-168