Wild Dunes Resort is one of the oldest and beloved golf resorts if not only the South Carolina but the entire eastern United States. This beachfront gated golf community of Charleston began development in the end of the 1970s, and still is being built and developed today. Although very little as most of the available land has been accounted for already. Real estate consists of multiple different property types: beachfront homes, quaint cottages, oceanfront condos & villas, golf course view villas, traditional style midrise condominiums, boat slips, deep water intra-coastal houses with docks and more.  

The gated golf resort although private and with two security gates is a public resort, and anyone can come onto the resort to play golf at one of the two courses, meet friends to play tennis, or eat at one of the many dining establishments on the resort grounds. In general most people can’t just come hang out on the beaches, or come an hang at one of the swimming pools of the condo developments without a guest to call in a day pass. Membership to the Wild Dunes resort club is optional. 

2015 Club Membership Details

 

MLS Listings Data

Total Listings:
150
Average Price:
$980,794
Highest Listing Price:
$4,215,000
Average Days On Market:
276
Average Price/Sqft:
$441

Number of MLS Listings 1 - 9 of 150 Set Up Email Alerts


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Search By Development & Section (Monthly Regime Fees)


Ownership Information

Wild Dunes resort has a yearly $750 POA fee. At closing the buyer is required to pay a one time 1/2 of 1% of the purchase price to the Wild Dunes capital contribution account which pays for the upkeep of the amenities, the gates, the grounds, lighting, related staff etc. Some developments also have their own one time at closing .5 of 1% of the purchase price in addition to the resort’s. For the same reason. For example many of the large condominium projects have their own swimming pool, staff, storage, utilities etc. Usually the monthly regime fee for condos/villas will also cover the development’s hazard, wind, flood, & liability insurances, but that is not always the case. Some of these condominium communities have a yearly insurance assessment whereby all the owners will split the cost of the insurance based on a formula of # units & sq ft of your unit. 

 

Investment Potential 

As many of you know, most of if not all of the properties here on Isle of Palms and in Wild Dunes are individually owned by people who sometimes live in full time (fairly small percentage), own for second home (rent & don’t rent), own strictly for investment purposes. There are quite a few expenses one must consider before making a purchase for investment purposes only. Consult your financial adviser professional (this is not to be taken as fact and/or professional investment advise). Considering the costs above. Please keep in mind rental income can fluctuate depending on many factors: interior finishes (i.e how nice the unit is), views (i.e full ocean view), how many persons your unit sleeps (is there pull out sofa, two queen beds vs one king bed etc). 

SUMMARY BREAK DOWN EXAMPLE

Let’s use Shipwatch Condos for example:

This 3 bedroom unit can usually expect (with minimal owner usage) gross an average of $50,000 a year in normalized economic market conditions. Subtract the below:

  1. Interior HO-6 insurance policy $800  yr
  2. $525 Month regime fee = $6300
  3. Prop Management Fees = (avg) 30%  = $15,000 (or 40% depending on mgmt)
  4. Shipwatch Insurances (hazard, wind, flood) = $2800 yr
  5. Power Bills = $1500+/-
  6. House Keeping = $150 per time
  7. Miscellaneous costs? 

NET  =   ____________________________

 

 


HISTORICAL SALES DATA

Sales PriceAvd Day On MarketAvg Sold Price Per Sq Ft

 

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