9002 Palmetto Dr #517 · Isle of Palms, SC 29451

$98,000

3 bd · 3.0 ba · 1,536 sqft · Condo public records · 51 Days on market

Built 1985 $345/mo HOA · 5% 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 +15.0/30.0
• Appreciation +8.4/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.3/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

One week per year share (.25) - Penthouse oceanfront residence offering breathtaking, unobstructed Atlantic views from one of Wild Dunes Resort's most coveted settings. This 3 bedroom, 3 bath two-story residence includes five rotating weeks of deeded ownership each year, offering a refined way to experience the coast in every season.Soaring double-height ceilings and signature arched windows frame the Atlantic in natural light. A spiral staircase leads to a lofted suite overlooking the great room.An expansive oceanfront balcony offers panoramic shoreline views above the resort pool, with direct beach access below. Residents enjoy golf, tennis, pickleball, dining, and coastal trails within the gated community

Key facts

• Two-story residence
• Direct beach access
• Oceanfront residence

Tags

• OCEANFRONT RESIDENCE
• UNOBSTRUCTED ATLANTIC VIEWS
• TWO-STORY RESIDENCE
• EXPANSIVE OCEANFRONT BALCONY
• PANORAMIC SHORELINE VIEWS
• DIRECT BEACH ACCESS

Property features AI

Finance

• HOA & community: Club membership available; Elevators; Fitness center; Golf course; Golf membership available; Community pool; Tennis courts; Trash service; Walk/jog trails; Community spa

Exterior

• Parking: No carport spaces
• Security: Gated community
• Utilities: Public sewer; IOP water and sewer (community)
• Home design: Condominium ownership; Fractional ownership; High-rise structure; Located in Seascape Villas
• Construction: Built-up roof
• Exterior features: Balcony; Beach access; Beachfront

Interior

• Kitchen: Dishwasher; Disposal; Electric range; Microwave; Refrigerator; Kitchen island; Eat-in kitchen
• Bedrooms: 3 bedrooms; Primary bedroom on lower level with ceiling fan, outside access, and walk-in closet
• Flooring: Carpet; Ceramic tile
• Bathrooms: 3 bathrooms
• Heating & cooling: Central air conditioning; Central heating with electric heat pump
• Interior features: Cathedral/vaulted ceilings; High ceilings; Elevator access; Kitchen island; Walk-in closets; Ceiling fans; Eat-in kitchen; Great room; Living/dining combo; Loft
• Laundry & utility: Washer and dryer; Laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath condo listed at $98k.

Deal economics

• At list price, monthly cash flow is $4k ($42k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $98k).
• Recommended offer: $95k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#217 in SC) — a middle-class / working-renter tenant base. Strengths: employment A+, crime A-; Watch: housing C-, amenities F, commute F.
• Charleston 01 (urban): math 48% / reading 53% proficiency, ranked #7 of 80 in SC (top 9%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Sullivan'S Island Elementary (math 88% / reading 81%, grade A+, #2 of 597 statewide, top 0%, 475 students, 9% FRL); Moultrie Middle (math 68% / reading 74%, grade A, #6 of 229 statewide, top 2%, 1,119 students, 22% FRL); Wando High (math 81% / reading 95%, grade A, #6 of 196 statewide, top 3%, 2,596 students, 19% FRL) — zoned schools average 17% FRL vs 44% district-wide (28 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 81% at this address vs 50% district-wide (+31 pts) — the actual schools serving this property are materially stronger than the Charleston 01 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 121 active listings in the ZIP; high-income renter base; 4,156 units permitted in Charleston County in 2024 (857 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($678 loan paydown + $7k appreciation (6.8% local appreciation)).
• Charleston County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (6.8% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($95k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 24y 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 $67k; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.

Recommended offer $95,060 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% 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. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 6.41% ✓
• Cap rate: 54.57%
• Cash-on-cash: 172.41%
• DSCR: 8.67
• GRM: 1.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.84% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 10.39×
• Total profit: $257,754
• Equity at exit: $66,891

10-year hold

• IRR: —
• Equity multiple: 22.24×
• Total profit: $582,919
• Equity at exit: $126,148

Cash invested: $27,440 (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 29451

• Home prices YoY: 2.0%
• Active inventory: 121
• Price-to-rent: 1.3×

Monthly cashflow live

• Estimated rent: $6,284 medium
• Mortgage (P&I): −$514
• Tax est. 1.5%: −$122 /mo · $1,470/yr
• Insurance: −$41
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$345
• Vacancy / Maint / Mgmt: −$1,320
• Net cashflow: $3,516

Break-even live

Break-even rent $1,834

Max offer price $98,000

Occupancy floor 39%

Sensitivity live

Price	-10% $3,584	-5% $3,550	+0% $3,516	+5% $3,482	+10% $3,448
Rent	-10% $3,019	-5% $3,268	+0% $3,516	+5% $3,764	+10% $4,012
Rate	-1.0pp $3,565	-0.5pp $3,541	base $3,516	+0.5pp $3,490	+1.0pp $3,465

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: $24,500
• Closing costs: $2,940
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $345 · $4,140/yr
• Likely covers: poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-18
   days on market $98,000 Active 51 DOM
2. 2026-06-17
   days on market $98,000 Active 50 DOM
3. 2026-06-16
   days on market $98,000 Active 49 DOM
4. 2026-06-15
   days on market $98,000 Active 48 DOM
5. 2026-06-10
   days on market $98,000 Active 43 DOM
6. 2026-06-09
   days on market $98,000 Active 42 DOM
7. 2026-06-08
   days on market $98,000 Active 41 DOM
8. 2026-06-07
   days on market $98,000 Active 40 DOM
9. 2026-06-05
   days on market $98,000 Active 37 DOM
10. 2026-06-03
    days on market $98,000 Active 36 DOM
11. 2026-06-01
    days on market $98,000 Active 34 DOM
12. 2026-05-31
    days on market $98,000 Active 33 DOM
13. 2026-05-12
    status Active 717-char remark

    Show marketing remark (717 chars)

    One week per year share (.25) - Penthouse oceanfront residence offering breathtaking, unobstructed Atlantic views from one of Wild Dunes Resort's most coveted settings. This 3 bedroom, 3 bath two-story residence includes five rotating weeks of deeded ownership each year, offering a refined way to experience the coast in every season.Soaring double-height ceilings and signature arched windows frame the Atlantic in natural light. A spiral staircase leads to a lofted suite overlooking the great room.An expansive oceanfront balcony offers panoramic shoreline views above the resort pool, with direct beach access below. Residents enjoy golf, tennis, pickleball, dining, and coastal trails within the gated community

14. 2026-05-01
    status Pending 717-char remark

    Show marketing remark (717 chars)

    One week per year share (.25) - Penthouse oceanfront residence offering breathtaking, unobstructed Atlantic views from one of Wild Dunes Resort's most coveted settings. This 3 bedroom, 3 bath two-story residence includes five rotating weeks of deeded ownership each year, offering a refined way to experience the coast in every season.Soaring double-height ceilings and signature arched windows frame the Atlantic in natural light. A spiral staircase leads to a lofted suite overlooking the great room.An expansive oceanfront balcony offers panoramic shoreline views above the resort pool, with direct beach access below. Residents enjoy golf, tennis, pickleball, dining, and coastal trails within the gated community

15. 2026-04-28
    price $25,000 717-char remark

    Show marketing remark (717 chars)

    One week per year share (.25) - Penthouse oceanfront residence offering breathtaking, unobstructed Atlantic views from one of Wild Dunes Resort's most coveted settings. This 3 bedroom, 3 bath two-story residence includes five rotating weeks of deeded ownership each year, offering a refined way to experience the coast in every season.Soaring double-height ceilings and signature arched windows frame the Atlantic in natural light. A spiral staircase leads to a lofted suite overlooking the great room.An expansive oceanfront balcony offers panoramic shoreline views above the resort pool, with direct beach access below. Residents enjoy golf, tennis, pickleball, dining, and coastal trails within the gated community

16. 2026-04-28
    listed $98,000 Active

    Show marketing remark (717 chars)

    One week per year share (.25) - Penthouse oceanfront residence offering breathtaking, unobstructed Atlantic views from one of Wild Dunes Resort's most coveted settings. This 3 bedroom, 3 bath two-story residence includes five rotating weeks of deeded ownership each year, offering a refined way to experience the coast in every season.Soaring double-height ceilings and signature arched windows frame the Atlantic in natural light. A spiral staircase leads to a lofted suite overlooking the great room.An expansive oceanfront balcony offers panoramic shoreline views above the resort pool, with direct beach access below. Residents enjoy golf, tennis, pickleball, dining, and coastal trails within the gated community

17. 2026-04-25
    listed $95,000 Active 1309-char remark

    Show marketing remark (1309 chars)

    Penthouse living. Ocean breezes. Simplified.Experience coastal luxury without the full-time commitment at 9002 Palmetto Drive, Unit 517, an exceptional opportunity to own a 1/13 fractional share of a stunning penthouse residence on the Isle of Palms. This top-floor retreat offers the perfect blend of elevated design, effortless ownership, and curated beachside living.Perched above it all, this penthouse condo showcases sweeping views, refined finishes, and an open-concept layout designed for both relaxation and entertaining. Expansive windows invite in natural light, while private balcony space provides the ideal setting to unwind and take in the coastal breeze.Ownership includes 4+ weeks per year of planned usage, allowing you to enjoy a luxury vacation lifestyle without the responsibilities of full-time ownership. Professionally managed and meticulously maintained, this is a true lock-and-leave experience. Located within one of the most desirable resort communities in the Charleston area, owners enjoy access to world-class amenities, including pools, golf, dining, and direct beach access--delivering a five-star experience with every visit. Whether you're seeking a personal getaway, a smart lifestyle investment, or both, this is your chance to own a piece of paradise--without compromise.

18. 2026-03-27
    price $122,500 717-char remark

    Show marketing remark (717 chars)

    One week per year share (.25) - Penthouse oceanfront residence offering breathtaking, unobstructed Atlantic views from one of Wild Dunes Resort's most coveted settings. This 3 bedroom, 3 bath two-story residence includes five rotating weeks of deeded ownership each year, offering a refined way to experience the coast in every season.Soaring double-height ceilings and signature arched windows frame the Atlantic in natural light. A spiral staircase leads to a lofted suite overlooking the great room.An expansive oceanfront balcony offers panoramic shoreline views above the resort pool, with direct beach access below. Residents enjoy golf, tennis, pickleball, dining, and coastal trails within the gated community

19. 2026-02-27
    listed $125,000 Active 717-char remark

    Show marketing remark (717 chars)

    One week per year share (.25) - Penthouse oceanfront residence offering breathtaking, unobstructed Atlantic views from one of Wild Dunes Resort's most coveted settings. This 3 bedroom, 3 bath two-story residence includes five rotating weeks of deeded ownership each year, offering a refined way to experience the coast in every season.Soaring double-height ceilings and signature arched windows frame the Atlantic in natural light. A spiral staircase leads to a lofted suite overlooking the great room.An expansive oceanfront balcony offers panoramic shoreline views above the resort pool, with direct beach access below. Residents enjoy golf, tennis, pickleball, dining, and coastal trails within the gated community

20. 2002-08-07
    soldstatus $67,000
21. 2002-02-01
    listed $72,000
22. 1985-10-01
    soldstatus $230,000

ⓘ 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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 💨 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: $75,412
• − Mortgage interest: −$5,490
• − Property taxes: −$1,470
• − Insurance: −$5,608
• − Repairs & maintenance: −$6,033
• − Management: −$6,033
• − HOA: −$4,140
• − Depreciation: −$2,851
• Taxable income: $43,787
• Est. tax owed @ 24.0%: −$10,509
• After-tax cash flow: $31,681/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: Charleston 01
• NCES district ID: 4501440
• Math proficiency: 48% ▼ -2.00%
• Reading proficiency: 53% ▬ 0.00%
• Median HH income: $52,376
• Composite: 43.41/100
• National rank: #3018
• State rank: #7 of 80 in SC

Livability — Isle of Palms

• Score: 61/100
• State rank: #217
• US rank: #18296

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Isle of Palms, SC
• County: Charleston County · 366,793 people
• City population: 4,362
• Metro: Charleston-North Charleston, SC
• Population (ZIP): 4,362
• Household income: $156,979
• Rent vs Own: 6.5% rent · 93.5% own
• Severe rent burden: 20.0

Population outlook (Charleston County) Hauer SSP2

• Today (2025): 480,562 people
• By 2030: 525,921 · +9.4%
• By 2040: 612,189 · +27.4%
• By 2050: 691,627 · +43.9%
• By 2075: 847,979 · +76.5%
• By 2100: 926,482 · +92.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Asian 2%
• Common ancestry: Lithuanian 5% Slovak 4% Scotch-Irish 2%
• Foreign-born: 7% · China, Canada
• Languages at home: 92% English-only · French/Haitian/Cajun 3% Other Asian/Pacific 3% Spanish 1%

Political lean MEDSL · Charleston

• 2024 margin: Lean D (+5.7) · D 51.9% · R 46.3% · Other 1.8%
• 2008→2024 swing: -2.7pp toward R · 2008: 8.3pp · 2024: 5.7pp
• All cycles: 2024: D+5.7 2020: D+12.9 2016: D+7.9 2012: D+2.4 2008: D+8.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.84%
• Current HPI: 348.8655
• Rent YoY: —
• Metro: Charleston-North Charleston, SC
• 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

-89.1% since first listed

10 events — show timeline

• 2026-05-12 Relisted — Charleston Trident MLS
• 2026-05-01 Pending — Charleston Trident MLS
• 2026-04-28 Price Changed $25,000 Charleston Trident MLS
• 2026-04-28 Listed $98,000 Charleston Trident MLS
• 2026-04-25 Listed $95,000 Charleston Trident MLS
• 2026-03-27 Price Changed $122,500 Charleston Trident MLS
• 2026-02-27 Listed $125,000 Charleston Trident MLS
• 2002-08-07 Sold (MLS) $67,000 Charleston Trident MLS
• 2002-02-01 Listed $72,000 Charleston Trident MLS
• 1985-10-01 Sold (Public Records) $230,000 Public Records

Property tax history

+2.3%/yr

Latest (2022): $9,593 · +1.1% YoY. Source: county tax records.