105 #45 Heron Marsh Dr · Litchfield Beach, SC 29585

$64,900

3 bd · 3.0 ba · 1,483 sqft · Condo · 5 Days on market

Built 1981 $300/mo HOA · 13% of rent ↓ 56% since listing

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This is an interval ownership property!!! Pet Friendly!!! Embrace the effortless beach lifestyle you’ve always dreamed of with this rare 3-bedroom, 3-bathroom end-unit fractional ownership opportunity in the highly sought-after Heron Marsh community. Offering 4 weeks of ownership per year (rotating one week per season), this interval property provides the perfect balance of a premier coastal retreat without the full-time financial or maintenance burdens. As a coveted end unit, this villa boasts enhanced privacy and is flooded with natural light from extra windows, illuminating a spacious open-concept layout. The thoughtful 3-bedroom, 3-bathroom floor plan offers plenty of space for fa

Key facts

• Community pool
• End unit
• Enhanced privacy

Tags

• END UNIT
• ENHANCED PRIVACY
• NATURAL LIGHT
• OPEN-CONCEPT LAYOUT
• PRIVATE OUTDOOR SPACES
• COMMUNITY POOL

Property features AI

Finance

• Other: For sale
• HOA & community: Homeowners association with $300 monthly fee; HOA covers association management, common areas, insurance, internet, grounds maintenance, pools, recreation facilities, sewer, security, trash and water; Association amenities include beach rights, clubhouse, gated access, owner-allowed golf carts, private membership, security, tennis courts, cable TV and maintained grounds; Community features include beach access, clubhouse, private beach, recreation area, tennis courts, pool, gated community and internet access

Exterior

• Parking: Covered parking
• Security: Gated community; Security service; Smoke detectors
• Utilities: Public water; Sewer available; Electricity available; Cable available; Phone available; Underground utilities; High-speed internet available; Trash collection
• Home design: Planned Unit Development (PUD); Resale property; Raised foundation
• Exterior features: Porch; Rear porch; Patio; Storage; Community outdoor pool

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator
• Flooring: Carpet; Laminate
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Furnished; Ceiling fans; Separate shower; Window treatments; Breakfast bar; High-speed internet
• Laundry & utility: Washer hookup; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath condo listed at $65k.

Deal economics

• At list price, monthly cash flow is $663 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Cap rate 26.4% vs local median 1.8% in Litchfield Beach — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Georgetown 01 (town): math 26% / reading 38% proficiency, ranked #51 of 80 in SC (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 392 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 323 units permitted in Georgetown County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $64,900

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 3.58% ✓
• Cap rate: 26.43%
• Cash-on-cash: 71.92%
• DSCR: 4.20
• GRM: 2.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 41.0%
• Equity multiple: 2.77×
• Total profit: $32,161
• Equity at exit: $9,677

10-year hold

• IRR: 47.4%
• Equity multiple: 5.64×
• Total profit: $84,296
• Equity at exit: $5,611

Cash invested: $18,172 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State South Carolina: 90 Strongly Landlord-Friendly · R+6
• County: — inherits STATE
• City: — inherits STATE

5-day notice; preempted; landlord-favorable.

Methodology + full state rankings →

ZIP-level market 29585

• Home prices YoY: -29.0%
• Active inventory: 392
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $2,326 high
• Mortgage (P&I): −$340
• Tax est. 1.5%: −$81 /mo · $974/yr
• Insurance: −$27
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$300
• Vacancy / Maint / Mgmt: −$488
• Net cashflow: $663

Break-even live

Break-even rent $1,487

Max offer price $64,900

Occupancy floor 67%

Sensitivity live

Price	-10% $707	-5% $685	+0% $663	+5% $640	+10% $618
Rent	-10% $479	-5% $571	+0% $663	+5% $754	+10% $846
Rate	-1.0pp $695	-0.5pp $679	base $663	+0.5pp $646	+1.0pp $629

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $16,225
• Closing costs: $1,947
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5 Ashcraft Cir Pawleys Island, SC	2.0–3.0	2.0	1074	$2,167	$2.02	14d	10	0.62mi
344 Lumbee Cir Pawleys Island, SC	3.0	3.0	1800	$2,300	$1.28	24d	1	0.83mi
84 Racquet Club Dr Unit WVC 14 Pawleys Island, SC	3.0	2.0	1471	$2,700	$1.84	24d	1	0.86mi
105 Weatherboard Ct Pawleys Island, SC	3.0	3.0	1480	$2,500	$1.69	24d	1	1.17mi
736 Algonquin Dr Unit Pawleys Pavilion 736H Pawleys Island, SC	3.0	2.0	1250	$1,700	$1.36	24d	1	1.43mi

HOA detail condo

• Monthly dues: $300 · $3,600/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 4 events

1. 2026-06-07
   statusdays on market $64,900 Pending 5 DOM
2. 2026-06-03
   days on market $64,900 Active 2 DOM
3. 2026-06-02
   remarks 693-char remark
4. 2026-06-02
   listed $64,900 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,912
• − Mortgage interest: −$3,635
• − Property taxes: −$974
• − Insurance: −$5,443
• − Repairs & maintenance: −$2,233
• − Management: −$2,233
• − HOA: −$3,600
• − Depreciation: −$1,888
• Taxable income: $7,907
• Est. tax owed @ 24.0%: −$1,898
• After-tax cash flow: $6,053/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Georgetown 01
• NCES district ID: 4502280
• Math proficiency: 26% ▼ -11.00%
• Reading proficiency: 38% ▼ -5.00%
• Median HH income: $43,045
• Composite: 27.15/100
• National rank: #7030
• State rank: #51 of 80 in SC

Livability — Litchfield Beach

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Litchfield Beach, SC
• Population (ZIP): 17,346

Population outlook (Georgetown County) Hauer SSP2

• Today (2025): 63,275 people
• By 2030: 63,630 · +0.6%
• By 2040: 63,130 · -0.2%
• By 2050: 61,904 · -2.2%
• By 2075: 59,305 · -6.3%
• By 2100: 53,852 · -14.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Black 7% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Slovak 4% Romanian 3% Italian 3%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Georgetown

• 2024 margin: R (+19.5) · D 39.6% · R 59.1% · Other 1.2%
• 2008→2024 swing: -14.2pp toward R · 2008: -5.2pp · 2024: -19.5pp
• All cycles: 2024: R+19.5 2020: R+12.7 2016: R+13.0 2012: R+7.6 2008: R+5.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -86.24%
• Current HPI: 211.3537
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 4.51%
• F500 in state: 2

Industry mix (Fortune 500 HQ in SC)

Industry	F500 HQs	Revenue
▸Packaging	1	$7B

Price history

-56.0% since first listed

2 events — show timeline

• 2026-05-22 Listed $64,900 CCAR
• 1981-08-01 Sold (Public Records) $147,500 Public Records

Property tax history

+3.5%/yr

Latest (2025): $5,775 · +6.7% YoY. Source: county tax records.