Few things are as peaceful as hearing the sounds of the surf and smelling the Atlantic Ocean breezing through our majestic pines. If you and your family are beachcombers at heart, then purchasing your beach home at The Sea Pines Resort is a dream come true. With no busy roads to cross over, and only steps to our sandy shores, owning a beach home on a "T-Road" in Sea Pines is ideally suited for those who love being at the beach.
"T-Roads" in Sea Pines Plantation are cul-de-sac roads along the beach and they are named after birds. You'll find them located from the ocean gate, starting with Canvasback, and traveling down North and South Sea Pines Dr., for about 5 miles, until you reach Gadwall Rd., which overlooks the Calibogue Sound. There are 28 such named streets and they have as many as 9 rows to as few as 2 rows of homes each. The market value for lots has been very close to their assessed value over the recent years. You'll find lots valued from $400,000 on the 9th row to $3,400,000 for a beautiful oceanfront view. 2nd row lots are assessed at $1,500,000, 3rd row lots - $850,000, 4th row lots - $750,000, 5th row lots - $650,000, 6th row lots - $550,000, and rows 7-9 are valued between $550,000 to $400,000. There are some variations to the assessed values based on the distance to beach and size of the lot. It's worth noting that prime lots in Sea Pines Plantation are beginning to sell above their assessed values by 7%-12% this year.
Prices for older homes on our '"T-Roads" start at their lot value for a tear-down, and depending on the age, condition and architectural style of the home, they can be priced from $50 to $100 per square foot for a home that's in need of renovations. Prices for homes that have been beautifully renovated and have timeless architectural features of vaulted ceilings and open living spaces can range from $200-$250 per square foot. Prices for new construction on finely built homes with a pool and outdoor deck living space are averaging $300-$350 per square foot. A few of these homes are being sold fully furnished in the $375-$400 per square foot range. If you're searching for a newly built dream home, with all the furnishings, we have two on the market. There's a second row home at 12 Seaside Sparrow with a list price of $3,495,000. It's fully equipped with 6 bedrooms and 6.5 bathrooms and has a rental projection of $254,000. Another new beach home is 12 Green Heron. It's a 5th row home with 5 bedrooms and 5.5 bathrooms. It's listed at $2,195,000 and has a rental projection of $175,000.
If you're considering a home for the short term rental market, gross rental incomes will vary by the number of bedrooms, the quality of the property, and to some degree, the distance to the beach. Rental incomes on our beach homes range from $50,000 to over $300,000. Some of the strongest rental properties on Hilton Head Island are within The Sea Pines Resort.
When you're living on a "T-Road" in Sea Pines, you really feel like your living at the beach. It's a unique lifestyle that's particularly enjoyed in these beachfront neighborhoods. Any beachcomber can tell you there's a world of difference between living at the beach and living on the island.
If you are curious to know more about our real estate market for beach homes at The Sea Pines Resort, please contact me: David@DavidLove.com or on my mobile phone: 843-290-5644. I'm pleased to provide information, including rental income and expenses on homes of interest, to fully answering your questions in detail and to arranging for a tour at your convenience. I look forward to being of service to your real estate needs on Hilton Head Island.
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