647 Unit 13b - Share L Norris Dr · Litchfield Beach, SC 29585

$80,000

2 bd · 2.0 ba · 1,101 sqft · Condo · 147 Days on market

Built 1980 $400/mo HOA · 20% of rent

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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 MLS

This is an interval ownership property. Experience relaxed oceanfront living with this interval ownership opportunity at Inlet Point, an exclusive gated community set on a quiet peninsula in Litchfield Beach. This well-cared-for second-floor condo features 2 bedrooms and 2 baths, with expansive views of the Atlantic and sandy shoreline. Floor-to-ceiling glass doors fill the space with natural light and lead to a generous oceanfront balcony—ideal for morning coffee or evening gatherings. Inside, the open floor plan is enhanced by hardwood floors throughout the living, dining, kitchen, and wet bar areas. The kitchen is fully outfitted and includes a breakfast bar for casual meals. Both the primary suite and guest bedroom are thoughtfully designed to offer comfort and privacy for owners and visitors alike. Ownership includes four weeks of use each year, one in every season, with the flexibility to enjoy the time personally or generate rental income. Residents of Inlet Point have access to outstanding amenities, including private beach access, two pools, a hot tub, a dock on the creek, and 24-hour gated security. Elevator service and professional housekeeping further simplify ownership, allowing you to focus on enjoying your time by the coast.

Key facts

• Hardwood flooring
• Oceanfront balcony
• Sweeping views

Tags

• PRIVATE GATED COMMUNITY
• SWEEPING VIEWS
• OCEANFRONT BALCONY
• HARDWOOD FLOORING
• FULLY EQUIPPED KITCHEN
• PRIVATE BEACH ACCESS

Property features AI

Finance

• HOA & community: Homeowners association with $400 monthly fee; Association amenities: beach rights, gated community, private membership, security, trash service, cable TV, grounds maintenance; Community features include beach access, pool, cable TV, internet access, gated entry, private beach, and allowance for short term rentals

Exterior

• Security: Gated; Security service; Smoke detector(s)
• Utilities: Public water; Sewer available; Electricity available; Cable available; Phone available; High speed internet available; Trash collection
• Home design: Planned Unit Development (PUD)
• Construction: Raised foundation; Resale property
• Exterior features: Gated community; Smoke detector(s); Security service; Community outdoor pool; Beach rights; Private beach; Short term rentals allowed; Flood zone; Outside city limits; Waterfront

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator; Breakfast bar; Kitchen/Dining combo
• Bedrooms: Walk-in closet(s)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Furnished; Dual sinks; 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 2-bed/2.0-bath condo listed at $80k.

Deal economics

• At list price, monthly cash flow is $178 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.4% 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 25d 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 $553 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 147 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 3y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 20% 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→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $70,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 147 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 2.46% ✓
• Cap rate: 15.36%
• Cash-on-cash: 32.37%
• DSCR: 2.44
• GRM: 3.4

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: -1.3%
• Equity multiple: 0.95×
• Total profit: $-1,106
• Equity at exit: $11,928

10-year hold

• IRR: 9.0%
• Equity multiple: 1.71×
• Total profit: $15,798
• Equity at exit: $6,917

Cash invested: $22,400 (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: 3.4×

Monthly cashflow live

• Estimated rent: $1,971 high
• Mortgage (P&I): −$420
• Tax est. 1.5%: −$100 /mo · $1,200/yr
• Insurance: −$33
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$400
• Vacancy / Maint / Mgmt: −$414
• Net cashflow: $178

Break-even live

Break-even rent $1,746

Max offer price $80,000

Occupancy floor 86%

Sensitivity live

Price	-10% $233	-5% $205	+0% $178	+5% $150	+10% $122
Rent	-10% $22	-5% $100	+0% $178	+5% $256	+10% $333
Rate	-1.0pp $218	-0.5pp $198	base $178	+0.5pp $157	+1.0pp $136

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
435 Salt Marsh Cir Unit 19F Pawleys Island, SC	2.0	2.0	850	$1,600	$1.88	24d	1	0.52mi
84 Racquet Club Dr Unit WVC 14 Pawleys Island, SC	3.0	2.0	1471	$2,700	$1.84	24d	1	0.68mi
105 Weatherboard Ct Pawleys Island, SC	3.0	3.0	1480	$2,500	$1.69	24d	1	0.76mi
5 Ashcraft Cir Pawleys Island, SC	2.0–3.0	2.0	1074	$1,560	$1.45	15d	10	0.76mi
736 Algonquin Dr Unit Pawleys Pavilion 736H Pawleys Island, SC	3.0	2.0	1250	$1,700	$1.36	24d	1	1.00mi

HOA detail condo

• Monthly dues: $400 · $4,800/yr
• Likely covers: poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 40 events

1. 2026-06-18
   days on market $80,000 Active 147 DOM
2. 2026-06-17
   days on market $80,000 Active 146 DOM
3. 2026-06-16
   days on market $80,000 Active 145 DOM
4. 2026-06-15
   days on market $80,000 Active 144 DOM
5. 2026-06-14
   days on market $80,000 Active 142 DOM
6. 2026-06-10
   days on market $80,000 Active 139 DOM
7. 2026-06-09
   days on market $80,000 Active 138 DOM
8. 2026-06-08
   days on market $80,000 Active 137 DOM
9. 2026-06-07
   days on market $80,000 Active 136 DOM
10. 2026-06-03
    days on market $80,000 Active 132 DOM
11. 2026-06-02
    days on market $80,000 Active 131 DOM
12. 2026-06-01
    days on market $80,000 Active 130 DOM
13. 2026-05-31
    days on market $80,000 Active 129 DOM
14. 2026-05-30
    days on market $80,000 Active 128 DOM
15. 2026-05-22
    historical Active Under Contract 1265-char remark

    Show marketing remark (1265 chars)

    This is an interval ownership property. Experience relaxed oceanfront living with this interval ownership opportunity at Inlet Point, an exclusive gated community set on a quiet peninsula in Litchfield Beach. This well-cared-for second-floor condo features 2 bedrooms and 2 baths, with expansive views of the Atlantic and sandy shoreline. Floor-to-ceiling glass doors fill the space with natural light and lead to a generous oceanfront balcony—ideal for morning coffee or evening gatherings. Inside, the open floor plan is enhanced by hardwood floors throughout the living, dining, kitchen, and wet bar areas. The kitchen is fully outfitted and includes a breakfast bar for casual meals. Both the primary suite and guest bedroom are thoughtfully designed to offer comfort and privacy for owners and visitors alike. Ownership includes four weeks of use each year, one in every season, with the flexibility to enjoy the time personally or generate rental income. Residents of Inlet Point have access to outstanding amenities, including private beach access, two pools, a hot tub, a dock on the creek, and 24-hour gated security. Elevator service and professional housekeeping further simplify ownership, allowing you to focus on enjoying your time by the coast.

16. 2026-03-20
    price $80,000 1265-char remark

    Show marketing remark (1265 chars)

    This is an interval ownership property. Experience relaxed oceanfront living with this interval ownership opportunity at Inlet Point, an exclusive gated community set on a quiet peninsula in Litchfield Beach. This well-cared-for second-floor condo features 2 bedrooms and 2 baths, with expansive views of the Atlantic and sandy shoreline. Floor-to-ceiling glass doors fill the space with natural light and lead to a generous oceanfront balcony—ideal for morning coffee or evening gatherings. Inside, the open floor plan is enhanced by hardwood floors throughout the living, dining, kitchen, and wet bar areas. The kitchen is fully outfitted and includes a breakfast bar for casual meals. Both the primary suite and guest bedroom are thoughtfully designed to offer comfort and privacy for owners and visitors alike. Ownership includes four weeks of use each year, one in every season, with the flexibility to enjoy the time personally or generate rental income. Residents of Inlet Point have access to outstanding amenities, including private beach access, two pools, a hot tub, a dock on the creek, and 24-hour gated security. Elevator service and professional housekeeping further simplify ownership, allowing you to focus on enjoying your time by the coast.

17. 2026-01-22
    price $78,000 1065-char remark

    Show marketing remark (1065 chars)

    This is an Interval Ownership property. Experience the ultimate coastal retreat with this interval ownership at Inlet Point, a private, gated oceanfront community tucked away on a secluded peninsula in Litchfield Beach. This beautifully maintained second-floor 2-bedroom, 2-bath condo offers sweeping ocean and beach views through wall-to-wall sliders that open onto a spacious oceanfront balcony—perfect for relaxing or entertaining. The open-concept layout features hardwood flooring throughout the living, dining, kitchen, and wet bar areas. The fully equipped kitchen includes a convenient breakfast bar, and both the owner’s suite and guest bedroom provide comfort and privacy for family or guests. As an owner, you’ll enjoy four weeks per year—one per season—of oceanfront living or have the option to rent your weeks. Community amenities include direct access to the pristine beach, two swimming pools, a hot tub, a creek dock, and 24-hour guarded security. Elevator access and impeccable housekeeping make ownership effortless.

18. 2026-01-22
    listed $80,000 Active

    Show marketing remark (1065 chars)

    This is an Interval Ownership property. Experience the ultimate coastal retreat with this interval ownership at Inlet Point, a private, gated oceanfront community tucked away on a secluded peninsula in Litchfield Beach. This beautifully maintained second-floor 2-bedroom, 2-bath condo offers sweeping ocean and beach views through wall-to-wall sliders that open onto a spacious oceanfront balcony—perfect for relaxing or entertaining. The open-concept layout features hardwood flooring throughout the living, dining, kitchen, and wet bar areas. The fully equipped kitchen includes a convenient breakfast bar, and both the owner’s suite and guest bedroom provide comfort and privacy for family or guests. As an owner, you’ll enjoy four weeks per year—one per season—of oceanfront living or have the option to rent your weeks. Community amenities include direct access to the pristine beach, two swimming pools, a hot tub, a creek dock, and 24-hour guarded security. Elevator access and impeccable housekeeping make ownership effortless.

19. 2025-12-24
    listed $85,000 Active 1265-char remark

    Show marketing remark (1265 chars)

    This is an interval ownership property. Experience relaxed oceanfront living with this interval ownership opportunity at Inlet Point, an exclusive gated community set on a quiet peninsula in Litchfield Beach. This well-cared-for second-floor condo features 2 bedrooms and 2 baths, with expansive views of the Atlantic and sandy shoreline. Floor-to-ceiling glass doors fill the space with natural light and lead to a generous oceanfront balcony—ideal for morning coffee or evening gatherings. Inside, the open floor plan is enhanced by hardwood floors throughout the living, dining, kitchen, and wet bar areas. The kitchen is fully outfitted and includes a breakfast bar for casual meals. Both the primary suite and guest bedroom are thoughtfully designed to offer comfort and privacy for owners and visitors alike. Ownership includes four weeks of use each year, one in every season, with the flexibility to enjoy the time personally or generate rental income. Residents of Inlet Point have access to outstanding amenities, including private beach access, two pools, a hot tub, a dock on the creek, and 24-hour gated security. Elevator service and professional housekeeping further simplify ownership, allowing you to focus on enjoying your time by the coast.

20. 2025-11-11
    listed $85,000 Active 1065-char remark

    Show marketing remark (1065 chars)

    This is an Interval Ownership property. Experience the ultimate coastal retreat with this interval ownership at Inlet Point, a private, gated oceanfront community tucked away on a secluded peninsula in Litchfield Beach. This beautifully maintained second-floor 2-bedroom, 2-bath condo offers sweeping ocean and beach views through wall-to-wall sliders that open onto a spacious oceanfront balcony—perfect for relaxing or entertaining. The open-concept layout features hardwood flooring throughout the living, dining, kitchen, and wet bar areas. The fully equipped kitchen includes a convenient breakfast bar, and both the owner’s suite and guest bedroom provide comfort and privacy for family or guests. As an owner, you’ll enjoy four weeks per year—one per season—of oceanfront living or have the option to rent your weeks. Community amenities include direct access to the pristine beach, two swimming pools, a hot tub, a creek dock, and 24-hour guarded security. Elevator access and impeccable housekeeping make ownership effortless.

21. 2025-10-01
    historical
22. 2025-07-11
    price $85,000
23. 2025-04-01
    listed $90,000 Active
24. 2024-07-29
    soldstatus $70,000 Closed
25. 2024-07-29
    soldstatus $70,000
26. 2024-07-18
    historical Active Under Contract
27. 2024-06-18
    soldstatus $70,000
28. 2024-05-24
    soldstatus $72,500 Closed
29. 2024-05-24
    soldstatus $72,500 Closed
30. 2024-05-20
    listed $80,000 Active
31. 2024-04-19
    historical Active Under Contract
32. 2024-04-19
    historical Active Under Contract
33. 2023-10-12
    listed $80,000 Active
34. 2023-10-12
    listed $80,000 Active
35. 2023-10-12
    listed $80,000 Active
36. 2023-06-21
    soldstatus $92,500
37. 2022-10-06
    soldstatus $145,000
38. 2022-03-18
    soldstatus $75,000
39. 2018-12-28
    soldstatus $55,000
40. 2005-03-02
    soldstatus $620,000

ⓘ 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 2/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°F today · 18 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: $23,653
• − Mortgage interest: −$4,481
• − Property taxes: −$1,200
• − Insurance: −$5,518
• − Repairs & maintenance: −$1,892
• − Management: −$1,892
• − HOA: −$4,800
• − Depreciation: −$2,327
• Taxable income: $1,541
• Est. tax owed @ 24.0%: −$370
• After-tax cash flow: $1,763/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

-87.1% since first listed

26 events — show timeline

• 2026-05-22 Contingent — CCAR
• 2026-03-20 Price Changed $80,000 CCAR
• 2026-01-22 Price Changed $78,000 CCAR
• 2026-01-22 Listed $80,000 CCAR
• 2025-12-24 Listed $85,000 CCAR
• 2025-11-11 Listed $85,000 CCAR
• 2025-10-01 Listing Removed — CCAR
• 2025-07-11 Price Changed $85,000 CCAR
• 2025-04-01 Listed $90,000 CCAR
• 2024-07-29 Sold (Public Records) $70,000 Public Records
• 2024-07-29 Sold (MLS) $70,000 CCAR
• 2024-07-18 Contingent — CCAR
• 2024-06-18 Sold (Public Records) $70,000 Public Records
• 2024-05-24 Sold (MLS) $72,500 CCAR
• 2024-05-24 Sold (MLS) $72,500 CCAR
• 2024-05-20 Listed $80,000 CCAR
• 2024-04-19 Contingent — CCAR
• 2024-04-19 Contingent — CCAR
• 2023-10-12 Listed $80,000 CCAR
• 2023-10-12 Listed $80,000 CCAR
• 2023-10-12 Listed $80,000 CCAR
• 2023-06-21 Sold (Public Records) $92,500 Public Records
• 2022-10-06 Sold (Public Records) $145,000 Public Records
• 2022-03-18 Sold (Public Records) $75,000 Public Records
• 2018-12-28 Sold (Public Records) $55,000 Public Records
• 2005-03-02 Sold (Public Records) $620,000 Public Records

Property tax history

+3.6%/yr

Latest (2025): $8,516 · +6.7% YoY. Source: county tax records.