Quail Marsh is a well maintained condo project located in the heart of Myrtle Beach, right across the street from Broadway at the Beach. All the buildings are Quads (4 units), with two floors, so each building contains a total of 8 units, and each unit is a corner unit. All the units are 2BR/2BA.
The buildings are simple and all brick, with plenty of parking and swimming pools. Most of the units are investor owned and rented to tenants. The HOA fees (Homeowners dues) cover the building insurance, water, trash, sewer, basic cable, pool, landscape service and general maintenance. In a place such as Myrtle Beach, where it is not uncommon to encounter HOA fees of $500+ for one bedroom condos, the low HOA fees at Quail Marsh seem almost too good to be true.
With 20% down, these units cash flow nicely and make a superb investment. Most investors think there is a catch when I give them the numbers; they just seem too good to be true. You can buy a unit for as little as $42,000 and rent it for $675-$725. Not too shabby!
Here are all the sales transacted at Quail Marsh for the past six months:
CONDO/TOWNHOUSE Summary Statistics |
||||
|
|
High |
Low |
Average |
Median |
LP: |
$58,000 |
$47,900 |
$53,175 |
$53,400 |
SP: |
$52,000 |
$42,000 |
$46,250 |
$45,500 |
Quail Marsh Condos Sold in the Past 6 months:
|
|
Bldg Name |
ADDRESS |
BR |
EstSqFtUR |
Total SQFT |
DOM |
List Price: |
$/Total SQFT |
Sold Price: |
$/Total SQFT |
Quail Marsh |
2005 Greens Blvd E-208 |
2 |
10 801-850 |
850 |
91 |
$47,900 |
$56.35 |
$42,000 |
$49.41 |
Quail Marsh |
2005 Greens Blvd. |
2 |
10 801-850 |
850 |
147 |
$49,900 |
$58.71 |
$42,500 |
$50.00 |
|
|
2005 Greens Boulevard, Unit D-108 |
2 |
10 801-850 |
850 |
544 |
$56,900 |
$66.94 |
$48,500 |
$57.06 |
|
|
2005 Greens Boulevard, Unit C-303 |
2 |
10 801-850 |
825 |
90 |
$58,000 |
$70.30 |
$52,000 |
$63.03 |
|
|
Total Listings |
|
|
|
Avg |
Avg |
Avg |
Avg |
Avg |
|
|
4 |
|
|
|
218 |
$53,175 |
$63 |
$46,250 |
$54 |
These are bite size investments perfect for the beginner.
Hi There! I just love your write-up on Quail Marsh. I have just purchased a unit there, and I am looking forward to decorating and sprucing it up a bit. I found some great contractors who are glad to have the opportunity to help me make some simple upgrades.
I plan on using it as my second home with friends or family enjoying an occasional visit.
Thanks for a complimentary overview of the development. LJ
Dear Property Owners:
We are a General Contractor in the Myrtle Beach area that offers a service that no other contractor can do, “Complete Renovation” of a one, two, three bedroom, condo, townhouse, or home in less than “THREE WEEKS”. We are also offering assistance in “FINANCING” a renovation through a local bank “RBC”.
If you have an interest in upgrading your investment please preview our web site: www.jaegerdc.com (Jaeger Development & Construction, LLC).
Thank you for your time and attention.
Bill Mitchell
CEO