In order to focus your search it would be useful to know your needs a little better:
1) What is your investment objective? (cash flow, ROI, capital gain)?
2) What is your investment horizon? (1-3, 5-10, 10+ years)?
3) Are you purchasing your investment with cash? Or do you need a loan? (many condo developments are "black listed" by lenders
4) Do you plan to sell another property and use a 1031 exchange to buy the new property? Or is this your first property investment?
5) Are you planning on managing it yourself, or will you hire a property management company?
Happy New Year!
Alan Donald, Broker Associate, MBA, REALTOR, e-PRO
The Alan Donald Real Estate Team
Keller Williams Realty
Thank you for giving me the opportunity to respond to your question about rentals in Mount Pleasant!
While I do not own any rental property at this time, I have owned it in the past and I have represented many investors who have purchased in Mount Pleasant. As you likely know, with the many new industries that have moved into the Charleston area, including Boeing, a large number of employees are renting for a period while they decide where to make their more permanent home. That activity in addition to the many homeowners who have given up their homes and moved into rentals has pushed rental rates up. According to a local property manager, rental rates on homes in Mount Pleasant that are in good condition are approximately $.85 - $.90 per square foot. As you know, this is an average since the rate can fluctuate with higher end homes.
I hope that is helpful to you! I am a lifetime resident and former Mayor of the Town of Mount Pleasant so I am very familiar with the community. I would love the opportunity to chat with you about the market here. If you have a few minutes, please visit my website http://www.woodsflowers.com where you can search all available homes and get additional information about the Charleston area.
Anderson Family Properties
I do not own rental property, nor manage it. My observations have been the Monthly Regime Fees ($200-500) seem to be the area less evaluated when determining the true investment value.
Feel free to browse my website and see what is available. I would be happy to investigate and preview some for you.
I wish you well in your investment!