240 Atlantic Ave · Pawleys Island, SC 29585

$190,000

4 bd · 3.0 ba · 2,511 sqft · SingleFamily · 99 Days on market

Built 1983 $667/mo HOA · 21% of rent

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Why this score? — see what drove the C+ 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 +26.5/30.0
• 1% rule +10.0/10.0
• DSCR +9.1/10.0
• ARV discount +7.5/15.0
• Livability +3.5/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Oceanfront on Pawleys Island, and there's nothing better than that! Enjoy 4 weeks every year in this beautiful oceanfront home. Your weeks will be one in the Spring, one in the Summer, one in Fall and one in the Winter. You'll love being at the beach in every season. This home features a wraparound porch, vaulted ceiling and a wood burning fireplace in the living area, updated kitchen complete with granite counter tops and stainless appliances, hardwood floors throughout and tile floor in bathrooms. Another fantastic feature is a wheelchair ramp for easy accessibility to the first floor. This is your chance to be at the beach 4 weeks every year!

Key facts

• Large decks
• Spacious family room
• Parking

Tags

• SPACIOUS FAMILY ROOM
• DINING ROOM OVERLOOKING OCEAN
• WELL EQUIPPED KITCHEN
• LARGE DECKS

Property features AI

Finance

• Other: For sale
• HOA & community: Has homeowners association; Monthly association fee of $667; Association fee includes management, common areas, insurance, grounds maintenance, sewer, trash and water; Community amenities include beach access and private beach, internet access, and private membership / beach rights

Exterior

• Parking: Covered parking
• Security: Smoke detector(s)
• Utilities: Electricity available; Water available; Sewer available; Underground utilities; High speed internet available; Trash collection; Water source: public, private, and well
• Home design: Waterfront property; City lot; Island location; Rectangular lot; Resale condition
• Construction: Wood frame construction; Raised foundation
• Exterior features: Front porch; Screened porch; Deck; Porch; Storage

Interior

• Kitchen: Kitchen island; Breakfast bar; Pantry; Stainless steel appliances; Solid surface counters; Cooktop; Range; Range hood; Microwave; Dishwasher; Refrigerator
• Bedrooms: At least one bedroom on the first (main) level; Walk-in closet(s)
• Flooring: Wood; Carpet; Vinyl
• Bathrooms: 3 full bathrooms
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Furnished; Bathtub and separate shower; Tub/shower combo; Ceiling fans; Fireplace; Vanity; High speed internet; Entrance foyer; Main-level primary bedroom; Bedroom on main level
• Laundry & utility: Washer hookup; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $77 ($930/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $190k).
• Recommended offer: $173k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.5% vs local median 2.2% in Pawleys Island — 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 70/100 on livability (#60 in SC) — a middle-class / working-renter tenant base. Strengths: employment A+, health & safety A+, crime A; Watch: amenities F, commute F, cost of living F.
• 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; 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($173k) is reasonable based on typical stale-listing flexibility.
• 22 sale attempts since 14y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $140k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 21% of rent.
• 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 $172,900 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. 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.
8. 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.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.65% ✓
• Cap rate: 9.48%
• Cash-on-cash: 11.37%
• DSCR: 1.51
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $1,295,676
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
283 Berry Tree Dr	0.57mi	4/3.5	2,520 (+0%)	22mo	$1,300,000	$516	52
376 Tip Top End Myrtle Ave	0.63mi	3/2.0 (-1)	2,453 (-2%)	19mo	$2,500,000	$1,019	42
216 Pawleys Creek Side Loop	0.45mi	4/3.0	2,844 (+13%)	21mo	$1,390,000	$489	40

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -13.1%
• Equity multiple: 0.53×
• Total profit: $-25,134
• Equity at exit: $28,330

10-year hold

• IRR: -3.5%
• Equity multiple: 0.76×
• Total profit: $-12,609
• Equity at exit: $16,428

Cash invested: $53,200 (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: 5.0×

Monthly cashflow live

• Estimated rent: $3,144 medium
• Mortgage (P&I): −$996
• Tax est. 1.5%: −$238 /mo · $2,850/yr
• Insurance: −$79
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$667
• Vacancy / Maint / Mgmt: −$660
• Net cashflow: $77

Break-even live

Break-even rent $3,046

Max offer price $190,000

Occupancy floor 93%

Sensitivity live

Price	-10% $209	-5% $143	+0% $77	+5% $12	+10% $-54
Rent	-10% $-171	-5% $-47	+0% $77	+5% $202	+10% $326
Rate	-1.0pp $173	-0.5pp $126	base $77	+0.5pp $28	+1.0pp $-22

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $667 · $8,004/yr

Listing history 50 events

1. 2026-06-18
   days on market $190,000 Active 99 DOM
2. 2026-06-17
   days on market $190,000 Active 98 DOM
3. 2026-06-16
   days on market $190,000 Active 97 DOM
4. 2026-06-15
   days on market $190,000 Active 96 DOM
5. 2026-06-14
   days on market $190,000 Active 94 DOM
6. 2026-06-10
   days on market $190,000 Active 91 DOM
7. 2026-06-09
   days on market $190,000 Active 90 DOM
8. 2026-06-08
   days on market $190,000 Active 89 DOM
9. 2026-06-07
   days on market $190,000 Active 88 DOM
10. 2026-06-03
    days on market $190,000 Active 84 DOM
11. 2026-06-02
    days on market $190,000 Active 83 DOM
12. 2026-06-01
    days on market $190,000 Active 82 DOM
13. 2026-05-31
    days on market $190,000 Active 81 DOM
14. 2026-05-30
    days on market $190,000 Active 80 DOM
15. 2026-03-06
    listed $190,000 Active
16. 2021-12-01
    soldstatus $140,000 Closed 653-char remark

    Show marketing remark (653 chars)

    Oceanfront on Pawleys Island, and there's nothing better than that! Enjoy 4 weeks every year in this beautiful oceanfront home. Your weeks will be one in the Spring, one in the Summer, one in Fall and one in the Winter. You'll love being at the beach in every season. This home features a wraparound porch, vaulted ceiling and a wood burning fireplace in the living area, updated kitchen complete with granite counter tops and stainless appliances, hardwood floors throughout and tile floor in bathrooms. Another fantastic feature is a wheelchair ramp for easy accessibility to the first floor. This is your chance to be at the beach 4 weeks every year!

17. 2021-10-18
    historical Active Under Contract 653-char remark

    Show marketing remark (653 chars)

    Oceanfront on Pawleys Island, and there's nothing better than that! Enjoy 4 weeks every year in this beautiful oceanfront home. Your weeks will be one in the Spring, one in the Summer, one in Fall and one in the Winter. You'll love being at the beach in every season. This home features a wraparound porch, vaulted ceiling and a wood burning fireplace in the living area, updated kitchen complete with granite counter tops and stainless appliances, hardwood floors throughout and tile floor in bathrooms. Another fantastic feature is a wheelchair ramp for easy accessibility to the first floor. This is your chance to be at the beach 4 weeks every year!

18. 2021-09-01
    soldstatus $145,000 Closed 992-char remark

    Show marketing remark (992 chars)

    Don't miss your chance to enjoy 4 weeks per year on Beautiful Pawleys Island in this Oceanfront 4 BR 3 Bath home close to Pawleys Island Pier and 2 blocks form the public boat landing. Relax on your Pawleys Island Hammock out back on the screened porch. Feel the cool ocean breeze from the Back Deck and Sip on a glass of wine in the evening from the Walkout and Seating overlooking the mighty Atlantic. Take a stroll down the beach at sunrise, Surf, Kayak or surf-fish on the point. Cuddle up inside and kindle the fire while creating winter memories too. The possibilities are endless and you share in the cost with other owners in this Fully Furnished Piece of Paradise! Modern Kitchen and lots of room for your family. Tons of parking and owner storage/ locker area underneath as well as a fish cleaning station & outdoor shower after a day of sunbathing on the beach. Sleeps 10 with Two master BR's. Just bring your clothes & groceries and start living the Beach Life today!

19. 2021-08-11
    historical Active Under Contract 992-char remark

    Show marketing remark (992 chars)

    Don't miss your chance to enjoy 4 weeks per year on Beautiful Pawleys Island in this Oceanfront 4 BR 3 Bath home close to Pawleys Island Pier and 2 blocks form the public boat landing. Relax on your Pawleys Island Hammock out back on the screened porch. Feel the cool ocean breeze from the Back Deck and Sip on a glass of wine in the evening from the Walkout and Seating overlooking the mighty Atlantic. Take a stroll down the beach at sunrise, Surf, Kayak or surf-fish on the point. Cuddle up inside and kindle the fire while creating winter memories too. The possibilities are endless and you share in the cost with other owners in this Fully Furnished Piece of Paradise! Modern Kitchen and lots of room for your family. Tons of parking and owner storage/ locker area underneath as well as a fish cleaning station & outdoor shower after a day of sunbathing on the beach. Sleeps 10 with Two master BR's. Just bring your clothes & groceries and start living the Beach Life today!

20. 2021-04-15
    price $144,000 653-char remark

    Show marketing remark (653 chars)

    Oceanfront on Pawleys Island, and there's nothing better than that! Enjoy 4 weeks every year in this beautiful oceanfront home. Your weeks will be one in the Spring, one in the Summer, one in Fall and one in the Winter. You'll love being at the beach in every season. This home features a wraparound porch, vaulted ceiling and a wood burning fireplace in the living area, updated kitchen complete with granite counter tops and stainless appliances, hardwood floors throughout and tile floor in bathrooms. Another fantastic feature is a wheelchair ramp for easy accessibility to the first floor. This is your chance to be at the beach 4 weeks every year!

21. 2021-01-30
    status Active 992-char remark

    Show marketing remark (992 chars)

    Don't miss your chance to enjoy 4 weeks per year on Beautiful Pawleys Island in this Oceanfront 4 BR 3 Bath home close to Pawleys Island Pier and 2 blocks form the public boat landing. Relax on your Pawleys Island Hammock out back on the screened porch. Feel the cool ocean breeze from the Back Deck and Sip on a glass of wine in the evening from the Walkout and Seating overlooking the mighty Atlantic. Take a stroll down the beach at sunrise, Surf, Kayak or surf-fish on the point. Cuddle up inside and kindle the fire while creating winter memories too. The possibilities are endless and you share in the cost with other owners in this Fully Furnished Piece of Paradise! Modern Kitchen and lots of room for your family. Tons of parking and owner storage/ locker area underneath as well as a fish cleaning station & outdoor shower after a day of sunbathing on the beach. Sleeps 10 with Two master BR's. Just bring your clothes & groceries and start living the Beach Life today!

22. 2021-01-28
    historical 992-char remark

    Show marketing remark (992 chars)

    Don't miss your chance to enjoy 4 weeks per year on Beautiful Pawleys Island in this Oceanfront 4 BR 3 Bath home close to Pawleys Island Pier and 2 blocks form the public boat landing. Relax on your Pawleys Island Hammock out back on the screened porch. Feel the cool ocean breeze from the Back Deck and Sip on a glass of wine in the evening from the Walkout and Seating overlooking the mighty Atlantic. Take a stroll down the beach at sunrise, Surf, Kayak or surf-fish on the point. Cuddle up inside and kindle the fire while creating winter memories too. The possibilities are endless and you share in the cost with other owners in this Fully Furnished Piece of Paradise! Modern Kitchen and lots of room for your family. Tons of parking and owner storage/ locker area underneath as well as a fish cleaning station & outdoor shower after a day of sunbathing on the beach. Sleeps 10 with Two master BR's. Just bring your clothes & groceries and start living the Beach Life today!

23. 2020-11-09
    listed $149,000 Active 653-char remark

    Show marketing remark (653 chars)

    Oceanfront on Pawleys Island, and there's nothing better than that! Enjoy 4 weeks every year in this beautiful oceanfront home. Your weeks will be one in the Spring, one in the Summer, one in Fall and one in the Winter. You'll love being at the beach in every season. This home features a wraparound porch, vaulted ceiling and a wood burning fireplace in the living area, updated kitchen complete with granite counter tops and stainless appliances, hardwood floors throughout and tile floor in bathrooms. Another fantastic feature is a wheelchair ramp for easy accessibility to the first floor. This is your chance to be at the beach 4 weeks every year!

24. 2020-10-06
    status Active
25. 2020-10-06
    historical
26. 2020-10-06
    historical
27. 2020-10-01
    historical
28. 2020-09-30
    status Active
29. 2020-09-30
    historical
30. 2020-05-28
    historical
31. 2019-12-31
    price $148,000
32. 2019-10-30
    historical
33. 2019-10-28
    listed $149,000 Active 992-char remark

    Show marketing remark (992 chars)

    Don't miss your chance to enjoy 4 weeks per year on Beautiful Pawleys Island in this Oceanfront 4 BR 3 Bath home close to Pawleys Island Pier and 2 blocks form the public boat landing. Relax on your Pawleys Island Hammock out back on the screened porch. Feel the cool ocean breeze from the Back Deck and Sip on a glass of wine in the evening from the Walkout and Seating overlooking the mighty Atlantic. Take a stroll down the beach at sunrise, Surf, Kayak or surf-fish on the point. Cuddle up inside and kindle the fire while creating winter memories too. The possibilities are endless and you share in the cost with other owners in this Fully Furnished Piece of Paradise! Modern Kitchen and lots of room for your family. Tons of parking and owner storage/ locker area underneath as well as a fish cleaning station & outdoor shower after a day of sunbathing on the beach. Sleeps 10 with Two master BR's. Just bring your clothes & groceries and start living the Beach Life today!

34. 2019-09-30
    listed $150,000 Active
35. 2019-09-28
    listed $150,000 Active
36. 2019-09-13
    historical
37. 2019-03-15
    listed $155,000
38. 2019-01-24
    listed $155,000
39. 2018-11-05
    historical
40. 2018-10-30
    listed $154,000 Active
41. 2018-10-26
    listed $161,000 Active
42. 2018-08-29
    soldstatus $155,000
43. 2018-03-19
    listed $168,500
44. 2018-01-12
    historical
45. 2017-07-13
    listed $168,500
46. 2017-04-04
    soldstatus $150,000
47. 2016-12-15
    listed $159,000
48. 2016-06-22
    soldstatus $120,000
49. 2016-05-31
    historical
50. 2016-05-23
    soldstatus $149,000

ⓘ 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 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 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: $37,733
• − Mortgage interest: −$10,643
• − Property taxes: −$2,850
• − Insurance: −$6,068
• − Repairs & maintenance: −$3,019
• − Management: −$3,019
• − HOA: −$8,004
• − Depreciation: −$5,527
• Taxable loss: −$1,397
• Est. tax savings @ 24.0%: +$335
• After-tax cash flow: $1,265/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 — Pawleys Island

• Score: 70/100
• State rank: #60
• US rank: #7489

Category grades

Amenities F Commute F Cost of living F Crime A Employment A+ Housing B Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pawleys Island, 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

+0.0% since first listed

47 events — show timeline

• 2026-03-06 Listed $190,000 CCAR
• 2021-12-01 Sold (MLS) $140,000 CCAR
• 2021-10-18 Contingent — CCAR
• 2021-09-01 Sold (MLS) $145,000 CCAR
• 2021-08-11 Contingent — CCAR
• 2021-04-15 Price Changed $144,000 CCAR
• 2021-01-30 Relisted — CCAR
• 2021-01-28 Listing Removed — CCAR
• 2020-11-09 Listed $149,000 CCAR
• 2020-10-06 Relisted — CCAR
• 2020-10-06 Listing Removed — CCAR
• 2020-10-06 Listing Removed — CCAR
• 2020-10-01 Listing Removed — CCAR
• 2020-09-30 Relisted — CCAR
• 2020-09-30 Listing Removed — CCAR
• 2020-05-28 Listing Removed — CCAR
• 2019-12-31 Price Changed $148,000 CCAR
• 2019-10-30 Listing Removed — CCAR
• 2019-10-28 Listed $149,000 CCAR
• 2019-09-30 Listed $150,000 CCAR
• 2019-09-28 Listed $150,000 CCAR
• 2019-09-13 Listing Removed — CCAR
• 2019-03-15 Listed $155,000 CCAR
• 2019-01-24 Listed $155,000 CCAR
• 2018-11-05 Listing Removed — CCAR
• 2018-10-30 Listed $154,000 CCAR
• 2018-10-26 Listed $161,000 CCAR
• 2018-08-29 Sold (MLS) $155,000 CCAR
• 2018-03-19 Listed $168,500 CCAR
• 2018-01-12 Listing Removed — CCAR
• 2017-07-13 Listed $168,500 CCAR
• 2017-04-04 Sold (MLS) $150,000 CCAR
• 2016-12-15 Listed $159,000 CCAR
• 2016-06-22 Sold (MLS) $120,000 CCAR
• 2016-05-31 Listing Removed — CCAR
• 2016-05-23 Sold (MLS) $149,000 CCAR
• 2016-05-07 Listing Removed — CCAR
• 2015-12-23 Listed $159,000 CCAR
• 2015-10-26 Listed $160,000 CCAR
• 2015-09-11 Listing Removed — CCAR
• 2015-08-02 Listing Removed — CCAR
• 2015-06-12 Listing Removed — CCAR
• 2015-01-21 Listed $177,500 CCAR
• 2014-06-24 Listed $168,500 CCAR
• 2014-06-10 Listed $140,000 CCAR
• 2014-06-10 Listed $140,000 CCAR
• 2012-08-02 Listed $190,000 CCAR