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Stephen McManus

stephen@thecoastalcollective.com +1(843) 990-1030

Listed by Charleston Gateway Properties

$ 235,500

Est. payment -/mo

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Price Dropped by $4K

8687 Elsinore Ct North Charleston, SC 29406

3 Beds

2 Baths

1,378 SqFt

UPDATED:

Key Details

Property Type Single Family Home

Sub Type Single Family Detached

Listing Status Active

Purchase Type For Sale

Square Footage 1,378 sqft

Price per Sqft $170

Subdivision The Lakes

MLS Listing ID 26006148

Bedrooms 3

Full Baths 2

HOA Y/N No

Year Built 1985

Lot Size 4,791 Sqft

Acres 0.11

Property Sub-Type Single Family Detached

Property Description

BACK ON MARKET. Title work is completed so a quick closing is available. The offer must be ''AS IS''. Rentals for single families in The Lakes of Northwoods run from $1,895- $2,200 for similar sized modest homes. Below estimates are rough approximations only. Buyer to adjust numbers if needed with due diligence.With $12k to $20k in remodeling/upgrades, cash investors should be able to rent for between $2,250 and $2,550 a month. Assuming roughly $4,000 annually for non-occupied real estate taxes, insurance, & $27 monthly for HOA, an annual net between $23,000 (9% annual return/cap rate) & $26,600 after $4k annual costs (net cap rate/return of 10.5%).. A 20% down buyer mortgaging would be netting after even modest updating approximately $10K annually while tenants building equity. A separate one car garage and rear workshop w/garage door opener is a fabulous starter home or flipper opportunity. CL100 showed no active termites, but old termite damage, bait stations are still in the ground, most likely from previous owners professional treatment. Fantastic location, 16 minute commute to Boeing and Airport, 5 minutes to Highway 26, 7 minutes to Wannamaker County Park. Carpet were removed in living room, hall, and master. A $2k credit with acceptable offer will be given as a flooring credit at closing. There is a large living room with inset bar and sink, gas fireplace (entire exterior of chimney siding and most of the framing including cap were replaced by a licensed contractor a couple months ago, saving new homeowner $8,600. There is a crack in the fireplace box rear that will need replacing or patching.) The contractor also reframed the window to the left of the chimney and patched the popcorn ceiling where the old chimney leaking caused damage. The siding 3-4 planks up on the garage was replaced and the entire siding on the fence facing side of the garage was replaced. Most of the siding on the large screened porch was recently replaced as well. The living room, hallway, and master bedroom flooring has been removed to the cement. Owners will leave some new pine flooring in garage. Garage has a separate electric box for workshop and tools use. Backyard previous outdoor shower building has plumbing to sewer line per previous owner. (no representation as these owners have never used it.) There is a pull down attic with built-in ladder in the home and in the garage for storage. Neighbors a few homes to the left that have weekly items put out for trash removal are remodeling the home. So you know this debris on trash day is not a common thing and that home will be beautiful when done. The three bedrooms have ceiling fans, master bedroom has a private full bathroom. There are six sliding doors in the home, so tons of natural light. The living room slider is hard to open. The rear workshop/storage room of the garage has a separate rear door and outlet for your tools. We have a CL100 that shows previous termite damage that was treated by previous owner. There are no active termites.

Location

State SC

County Charleston

Area 32 - N.Charleston, Summerville, Ladson, Outside I-526

Rooms

Primary Bedroom Level Lower

Master Bedroom Lower Ceiling Fan(s), Outside Access

Interior

Interior Features See Remarks, Ceiling Fan(s), Living/Dining Combo, Other

Heating Forced Air

Cooling Central Air

Flooring Ceramic Tile, Concrete, Luxury Vinyl

Fireplaces Number 1

Fireplaces Type Living Room, One

Laundry Washer Hookup

Exterior

Exterior Feature Garden

Parking Features 1 Car Garage, Detached, Garage Door Opener

Garage Spaces 1.0

Fence Privacy, Rear Only, Wood

Community Features Pool, Trash

Utilities Available Charleston Water Service, Dominion Energy, N Chas Sewer District

Roof Type Architectural

Porch Deck, Screened

Total Parking Spaces 1

Building

Lot Description Cul-De-Sac

Story 1

Foundation Slab

Sewer Public Sewer

Water Public

Architectural Style Ranch

Level or Stories One

Structure Type See Remarks,Wood Siding

New Construction No

Schools

Elementary Schools A. C. Corcoran

Middle Schools Northwoods

High Schools Stall

Others

Acceptable Financing Any

Listing Terms Any

Financing Any