Buy a home at a reasonable rate with a VA loan in Cane Bay, SC

VA loans were established prior to the end of World War II and have since assisted numerous veterans, service members, and military families in fulfilling their dream of owning their a home. In recent times, the program has become increasingly significant, with VA loan volume skyrocketing and offering substantial financial advantages that enable countless veterans to purchase homes, thereby making homeownership a possibility for those who may not have qualified otherwise.

If you sacrificed comfort and security to help protect our great nation, Mission One Mortgage thanks you for your service. We believe that there's no greater honor than to serve those who have served our country. We're not afraid to go above and beyond for our veterans because that's exactly what they did for us.

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What is a VA Loan in Cane Bay, SC?

A VA loan is a mortgage option that is backed by the government and available to Veterans, service members, and surviving spouses. It is offered by private lenders such as banks and mortgage companies and not directly by the Department of Veterans Affairs.

VA home loans come with competitive interest rates and terms and can be used to purchase a variety of properties, including:

  • Single-Family Homes
  • Condominiums
  • Multi-Unit Properties
  • Manufactured Homes
  • New Construction Homes

One of the great benefits of VA loans is that eligible Veterans can buy a home with no down payment, no mortgage insurance, lenient credit requirements, and the lowest average fixed rates in the market.

Va Mortgages Cane Bay, SC

This program was created by the federal government to make it easier for those who have served our country to become homeowners, and it is widely considered the strongest benefit program available for this purpose.

What are the Biggest Benefits of Having a VA Loan in Cane Bay, SC?

At Mission One Mortgage, we work with many Veterans who know that VA loans exist but don't quite understand the full range of benefits they provide. If that sounds familiar, keep reading. This section was written especially for you.

01

Benefit:

No Down Payment Needed

One of the standout benefits of the VA Loan program is that qualified borrowers can purchase a home without having to make a down payment up to the conforming loan limit of their county. This is a significant advantage over conventional and FHA loans, which typically require minimum down payments of 5 percent and 3.5 percent, respectively.

For example, on a $400,000 mortgage, a conventional loan would require a $20,000 down payment, while an FHA loan would require $14,000. Saving up that kind of cash can take service members and veterans years, but with the VA Loan, they can pursue homeownership without having to scrape and stockpile for years on end.

03

Benefit:

Less Strict Credit Requirements

It's important for military buyers to stay informed about credit score requirements when considering home financing options. Although credit score requirements have eased up a bit, it's still necessary to meet certain benchmarks set by conventional and FHA lenders. However, even meeting these benchmarks can be a challenge for many buyers.

Most VA lenders require a credit score of at least 620, which falls in FICO's "Fair" credit score range. Borrowers will typically need to meet a higher threshold for conventional mortgages, particularly if they want to secure a low-interest rate. It's worth checking out VA Loan rates to learn more about financing options.

Despite common misconceptions, military buyers don't need a perfect credit score to obtain financing. While a higher credit score can certainly help, it's important to remember that VA loans in Cane Bay, SC are designed to help military members and veterans access affordable housing.

05

Benefit:

Help with Closing Costs

Closing costs are an inevitable part of the home-buying process, no matter what type of mortgage product you choose. However, if you're a veteran, you may be pleased to know that the VA places limits on the fees and costs you're required to pay at the time of closing. Additionally, homebuyers have the option to ask sellers to cover all loan-related closing costs, as well as up to 4 percent of the purchase price for other expenses like prepaid taxes, insurance, and collections.

02

Benefit:

No Need for Private Mortgage Insurance

Coming up with a down payment can be challenging for both conventional and FHA homebuyers. In addition, they are required to pay for mortgage insurance unless they can make a sizable down payment, usually 20% of the purchase price. For instance, on a $400,000 mortgage, this would be a staggering $80,000 in cash.

FHA loans carry an upfront mortgage insurance premium and annual mortgage insurance. The latter now lasts for the life of the loan. On the other hand, conventional homebuyers will pay this monthly cost until they have built up enough equity, which can take several years.

Fortunately, VA loans do not require any mortgage insurance. However, there is a mandatory funding fee that goes directly to the Department of Veterans Affairs. Borrowers with a service-connected disability are exempt from paying this fee, which helps keep the program going for future generations.

04

Benefit:

Bankruptcy and Foreclosure

If you've experienced a financial setback such as a foreclosure, short sale, or bankruptcy, you may be worried about your chances of securing a VA home loan. However, don't lose hope just yet. With VA loans, it's still possible to be eligible for a home loan just two years after a foreclosure, short sale, or bankruptcy. In some cases, veterans who file for Chapter 13 bankruptcy protection can be eligible for a VA loan just a year after the filing date.

It's worth noting that the waiting periods for conventional or FHA financing can be significantly longer than those for VA loans. Additionally, even if you've lost a VA-backed mortgage to foreclosure, you may still be eligible for another VA loan.

So, if you're a veteran who's experienced a financial setback but still dreams of owning a home, don't give up hope. Explore your options and see if a VA loan with Mission One Mortgage could be the solution you need.

06

Benefit:

DTI Ratio Flexibility

It's important to keep in mind that VA lenders typically prefer borrowers to spend no more than 41 percent of their gross monthly income on major debts, such as mortgage payments or student loans. However, it's possible to get a VA home loan even if you have a higher DTI ratio. Some lenders may offer up to 55 percent or more depending on your credit score and ability to meet additional income requirements. This can give homebuyers more flexibility and greater purchasing power when it comes to finding their dream home.

Remember - if you have any questions about the benefits you just read about - like what credit score Mission One Mortgage requires for a VA loan - contact our office today. It would be our pleasure to help you navigate the VA loan process, one step at a time.

How to Determine Your VA Loan Eligibility

One of the most common questions we get at Mission One Mortgage revolves around VA loan eligibility. Who is actually eligible for this type of loan? What are the requirements for getting a VA loan? If you meet the following requirements, chances are you'll be eligible for a VA loan.

  • If you have completed 90 days of service during wartime or 181 days of service during peacetime, you may qualify as an active-duty military member or veteran.
  • If you have served in the National Guard or Reserve for a minimum of six years, or have completed 90 days of active duty under Title 32 orders, with at least 30 of them being consecutive, you may be eligible for a VA loan in Cane Bay, SC.
  • If your spouse was a service member who passed away while on active duty or due to a service-connected disability, and you haven't remarried, you may be eligible for a VA loan. In some cases, surviving spouses who remarried after the age of 57 and after Dec. 16, 2003, may also be eligible. Spouses of prisoners of war or service members missing in action may also be eligible for VA loans, as well.
  • You meet the necessary requirements for credit and income to be eligible for a VA loan. It's important to note that while the VA doesn't set a minimum credit score for VA loans, individual lenders may have their own standards. In addition to credit, your lender will also evaluate your income and debts to assess your ability to repay the mortgage.
  • The property you're interested in purchasing complies with the necessary safety standards and building codes. It's also worth mentioning that in most cases, the borrower is required to make the residence their primary home within 60 days of purchase. However, there are certain circumstances in which this timeline can be extended up to 12 months.
 HomeReady Mortgages Cane Bay, SC

Follow These 5 Steps to Begin the VA Home Loan Process

Curious what the general steps are for purchasing a home with a VA loan? You're not alone. Keep reading to get a feel for what you have to do to enjoy the wonderful benefits of homeownership.

 Home Ready Mortgages Cane Bay, SC

When applying for a VA home loan benefit, the Certificate of Eligibility (COE) is an important document that verifies your eligibility to your lender. If you have already used your VA loan benefit in the past, a current COE can help you determine how much remaining entitlement you have. Additionally, it can ensure that your entitlement has been restored for previous VA-backed loans that were paid in full.

After you've applied for your COE, it's a good idea to examine your finances. We're talking about items such as income, expenses, credit profile, and your monthly budget. That way, you know for sure that you're ready to purchase a home.

As a veteran, you have the choice of going through a bank, credit union, or a private VA mortgage company like Mission One Mortgage. Most lenders will have different loan interest rates and fees, so it's important to shop around. Remember - Mission One specializes in VA loans in Cane Bay, SC. Other lenders, such as large corporations and banks, often can't match the expertise and attention to detail that Mission One provides to veterans.

During this phase, it's a good idea to meet with a range of real estate professionals. Try to choose an agent who has experience processing and overseeing VA loans. Once you select an agent, you can bring your lender's pre-approval letter to their office and begin shopping.

This is the best part of the VA loan process, other than getting the keys to your new home. When looking for a house, remember to look at homes within your price range and budget. Lean on your real estate agent, friends, and family for help in your search.

A Word of Advice from Mission One Mortgage

If you're thinking about buying a home, it's important to weigh the pros and cons of homeownership. While renting can provide flexibility and less responsibility for maintenance, it comes with the risk of rent increases, potential property sales, and uncertainty about security deposit refunds.

On the other hand, owning a home can offer relatively stable mortgage payments and an opportunity to build long-term wealth for you and your family. Before making a decision, it's crucial to determine your priorities, such as your monthly budget for mortgage payments and other expenses like transportation and childcare. Ultimately, only you can determine what's best for your housing and financial needs.

The Key to Homeownership Starts with a VA Loan in Cane Bay, SC

At Mission One Mortgage, we take immense pride in simplifying the mortgage process and ensuring that our clients experience minimal stress. We understand that navigating the world of mortgages can be daunting, which is why we are committed to making it as smooth as possible.

By choosing to work with us, you're not just getting a mortgage broker - you're selecting a partner who is devoted to your financial well-being and dedicated to helping you achieve your dream of homeownership. By working together, we can work through the VA loan process one step at a time.

That rings true for all of our clients, but especially the U.S. Veterans we serve. In fact, we specialize in VA mortgages and are proud to offer them to US Veterans, those on Active Duty, and their spouses. VA Loans are one of the best mortgages available, offering no down payment requirements, no PMI, and some of the most favorable rates and terms.

If you're ready to take the next big step in your life and provide stability for your family with a place to call home, contact our office today. You're closer to the dream of home ownership than you might think.

Want to know more?

Clarify your Queries Call Us Now! (843)822-5685

Latest News in Cane Bay, SC

Lowcountry high school football scores Week 4

CHARLESTON, S.C. (WCSC) - Week 4 in the Lowcountry kicks off Thursday while our Game of the Week features Cane Bay at James Island. Check back here for scores, highlights and more throughout the weekend9/14Colleton County 30, North Charleston 7 - Colleton improves to 1-3 while North Charleston drops to 2-39/15Cane Bay 7, James Island 28 - The Trojans improve to 5-0 while the Cobras drop to 2-2Berkeley 0, Ft. Dorchester 52 - The Patriots improve to 2-1 while the Stags f...

CHARLESTON, S.C. (WCSC) - Week 4 in the Lowcountry kicks off Thursday while our Game of the Week features Cane Bay at James Island. Check back here for scores, highlights and more throughout the weekend

9/14

Colleton County 30, North Charleston 7 - Colleton improves to 1-3 while North Charleston drops to 2-3

9/15

Cane Bay 7, James Island 28 - The Trojans improve to 5-0 while the Cobras drop to 2-2

Berkeley 0, Ft. Dorchester 52 - The Patriots improve to 2-1 while the Stags fall to 3-2. Charles Watson had 200 yards of total offense and 2 TD’s for the Fort.

Wando 14, West Ashley 38 - The Wildcats move to 3-2 after Kevin Brown had 118 yards and 2 TD’s while the Warriors drop to 1-3

Sumter 10, Summerville 47 - The Green Wave move to 4-0 on the season as Jaden Cummings threw for 287 yards and 3 TD’s

Ashley Ridge 63, St. James 34 - The Swamp Foxes go to 3-0

Carolina Forest 38, Stratford 21 - The Knights drop to 0-4

Goose Creek 31, Blythewood 28 - The Gators get their first win to move to 1-3

Stall 0, Beckham 57 - The Bengals improve to 4-0 while the Warriors drop to 2-3

Philip Simmons 55, Aynor 30 - The Iron Horses stay undefeated at 5-0 as KJ Asbury rushed for 210 yards and 4 TD’s

Palmetto Christian 23, Academic Magnet 62 - The Raptors improve to 3-0

Bishop England 3, Woodland 20 - The Wolves go to 3-0 while the Bishops drop to 0-3

Timberland 28, Hanahan 24 - The Wolves get their first win to go to 1-4 thanks to Montez Addison’s 2 TD’s while the Hawks drop to 1-3

First Baptist 42, Hilton Head Prep 31 - The Hurricanes get their first win of the year to go to 1-3

Lake Marion 8, Cross 54 - The Trojans move to 4-1

Bethune Bowman 36, Military Magnet 12 - The Eagles fall to 1-4

Allendale Fairfax 42, Baptist Hill 0 - The Bobcats drop to 1-3

Burke 0, Whale Branch 62 - Bulldogs fall to 0-4

Lee Academy 20, St. John’s Christian 13 - The Cavaliers fall to 2-3

Hilton Head Christian 31, Northwood Academy 14 - The Chargers suffer their first loss of the season and fall to 3-1

Memorial Day 0, Colleton Prep 3 - The War Hawks improve to 3-2

Pinewood Prep 48, John Paul 28 - The Panthers improve to 2-3

Porter-Gaud 42, Ben Lippen 9 - JJ Fludd rushed for 235 yards and 5 TD’s as the Cyclones improve to 5-0

Dorchester Academy 8, Thomas Heyward 34 - The Raiders fall to 3-2 with the loss despite John Whetsell’s 121 yards rushing

Copyright 2023 WCSC. All rights reserved.

Overcrowding in Cane Bay has residents concerned for future

Last Tuesday, there was a meeting within the Berkeley County School District to discuss changing attendance lines within the county because of overcrowding in the Cane Bay area. (WCIV)BERKELEY COUNTY, S.C. (WCIV) — Last ...

Last Tuesday, there was a meeting within the Berkeley County School District to discuss changing attendance lines within the county because of overcrowding in the Cane Bay area. (WCIV)

BERKELEY COUNTY, S.C. (WCIV) — Last Tuesday, there was a meeting within the Berkeley County School District to discuss changing attendance lines within the county because of overcrowding in the Cane Bay area.

Although the measure was not voted on, the problem of overcrowding remains within the area.

Berkeley County as a whole has experienced a 34 percent increase in population over the last decade. That’s the second highest rate of any county in the state.

This is partially due to the popularity of the area’s school system and community. It’s why Cane Bay resident Ashley Hill moved to the area two years ago.

“The reason that I like it here so much is because we have a sense of community and how Cane Bay trails, I get to experience that and golf cars and stuff like that,” Hill said.

But the space has started to become crowded. Since 2010, the Cane Bay population has grown from 1,321 people to 12,362 residents.

Right now approximately 75 percent of the land is permitted for expected build-out.

“They are going up so quickly,” Hill said, “It has grown tremendously. The traffic around here has gotten a lot more aggressive. I believe that even with school days, I mean, just trying to figure out how to get into the elementary school or the middle school because they're so close to each other, it makes it difficult for the people who are trying to go to work.”

Cane Bay currently has 5,941 building permits issued and 510 are under construction.

That means the number of residents may grow even more than the current population of 12,000.

There are also 7,950 entitlements for expected build-out in the Cane Bay area.

So that begs the question: Are Berkeley County officials prepared to deal with the growth in the community?

I took that question straight to Berkeley County Supervisor Johnny Cribb and here was his response:

“In the last several years, there's not a whole lot that we've rezoned or approved, but it's really the entitlements that that are out there.”

Cribb says that he hasn’t approved many building permits during his three years in office. But despite that, there are still thousands of permitted builds that have yet to take place.

So I asked him what his plan for the future was.

“If you look at what's going on in the world right now, anybody pretends to know what's going to happen is they're playing make believe,” Cribb said.

He said that the current market place, partially due to the coronavirus pandemic, has made it hard to predict when build-outs will happen and what the area will look like in the future.

Not satisfied with the answer to my question, I went to other officials to get more answers.

I asked the Cane Bay representative of the Berkeley County Council Caldwell Pinckney about the growth in the community.

He said that council does realize the threat the growth in the area has and it will be dealt with eventually. However, he said it has “not gotten to the point where we have had to sit down and talk about it.”

“Even in the most aggressive scenario, [build-outs are] years away. So two or three years, there's no way you could build out all that out in two or three years,” Cribb said.

When asked if a building moratorium would be considered to slow down some of the developments in Berkeley County ,both Cribb and Pinckney said it wasn’t on the table at this time.

Cribb does say that he believes the main solution, and the focus for him right now, is the roadways around the Cane Bay area.

“You put $65 million to widen 176, $82 million for Nexton I-26 interchange, so people would have their own interchange and doing improvements in the community.” Cribb said, “The biggest thing is, for us, almost three years now I have been relentlessly pursuing what I can control. And it's any new things that come in, and frankly, how can we improve the quality of life for the people that have moved out there who are the ones that created the growth.”

Cribb also said he is working with water and sewer officials to prepare for the influx of houses coming in the area.

One question I did pose to Pinckney was if the county would consider utilizing impact fees to help fund the building of new schools in the Cane Bay area. Pinckney said that he does believe impact fees are in place to an extent, but are not covering the whole budget.

But for residents like Hill, they believe that there is a lot being overlooked which only adds to their concern about the future of Cane Bay.

“I'm concerned with the overpopulation. I do not feel like the county has taken any hasn't thought about with all these, you know, kids that are coming in. Where they're supposed to go.”

Parents frustrated over limited tickets sold to Cane Bay High School’s homecoming dance

BERKELEY COUNTY, S.C. (WCBD) – Several parents with students at Cane Bay High School are upset after a limited number of tickets were sold for next Saturday’s homecoming dance, which means their children would not be able to attend.Parents who reached out to News 2 this week said the homecoming dance will be held in the commons area of Cane Bay High School, which can accommodate 700 students. But they said the problem is the school has more than 2,000 students.Brandi Norwood’s daughter is a junior at the high ...

BERKELEY COUNTY, S.C. (WCBD) – Several parents with students at Cane Bay High School are upset after a limited number of tickets were sold for next Saturday’s homecoming dance, which means their children would not be able to attend.

Parents who reached out to News 2 this week said the homecoming dance will be held in the commons area of Cane Bay High School, which can accommodate 700 students. But they said the problem is the school has more than 2,000 students.

Brandi Norwood’s daughter is a junior at the high school. And because she’s on the cheer team, Norwood said she’s expected to participate in all of the homecoming events next week.

“It feels defeating to them. They’re encouraged by staff and admin to come together, to be involved in school spirit—that’s how you build community, but then for them to be told, ‘There’s not enough room. You can’t go.’”

Except for the main event – next Saturday’s homecoming dance – because she did not purchase a ticket in time.

“I was given a link to buy tickets, and I wasn’t in a hurry. I got off of work the next day and attempted to buy tickets and it was sold out,” said Norwood.

Norwood said the dance is typically held in the school’s commons area and the 700-ticket cap is nothing new. But she said she’s never had an issue with purchasing tickets for her two older daughters in the past.

“We were told that it was first-come, first-serve and that the tickets were sold within a day, and the link had been posted the day before in the middle of the day,” Norwood explained.

She said there was not adequate communication from the school prior to that link being sent out; however, another parent says there was.

“It was put out that there were a limited amount of tickets, get your tickets early. That was put out,” said Kristin Tanner, whose child also attends Cane Bay High School.

Norwood claims one reason tickets may have gone quickly is because they were distributed differently than in previous years.

“Sophomores and freshmen were allowed to buy tickets, which in the past as far as I understand, seniors and juniors were given preference and then so on and so forth,” she said.

Norwood said she, along with many other parents, is simply disappointed.

“I’ve heard from a lot of other parents who have seniors who have bought dresses and have been preparing and can’t go to the dance,” she said.

Other parents say they cannot sympathize with those who bought clothes before buying a ticket to the dance.

“You put the cart before the horse. That’s what I say to that,” Tanner said.

News 2 reached out to the Berkeley County School District and received the following statement:

“Tickets to the Cane Bay High School Homecoming Dance were made available to all students in a fair and consistent manner. While all schools would love the opportunity to welcome the entire school population to an event held in one location of the school, that is not possible due to fire codes and capacity restriction of rooms and spaces,” said Katie Tanner, Chief Communications & Engagement Officer, BCSD.

Nexton Parkway Extension (Spine Road C) Opens in Cane Bay

Spine Road C was completed by Gulf Stream Construction and funded by the developer, Gramling Brothers. This project included the extension of Nexton Parkway and its associated multi-use pathway into the Cane Bay development; completing the third planned leg of the roundabout on Cane Bay Boulevard near Cane Bay area schools; and improving/installing signage, pavement markings, and pedestrian beacons in and around the roundabout.Spine Road C ties into the U.S. 176/Nexton Parkway Intersection Improvement project, which was completed and ...

Spine Road C was completed by Gulf Stream Construction and funded by the developer, Gramling Brothers. This project included the extension of Nexton Parkway and its associated multi-use pathway into the Cane Bay development; completing the third planned leg of the roundabout on Cane Bay Boulevard near Cane Bay area schools; and improving/installing signage, pavement markings, and pedestrian beacons in and around the roundabout.

Spine Road C ties into the U.S. 176/Nexton Parkway Intersection Improvement project, which was completed and opened to traffic in May 2020. The U.S. 176/Nexton Parkway Intersection Improvement project was constructed by Landmark Construction and funded by the County’s One-Cent Sales Tax Program; Infrastructure Consulting and Engineering (ICE) assisted Berkeley County with project management and inspection of the project.

The U.S. 176/Nexton Parkway Intersection Improvement project consisted of the following work: connecting Nexton Parkway to U.S. 176; improvements and turn lanes on U.S. 176; and the associated intersection signalization. The signals were activated today with the official opening of Spine Road C (Nexton Parkway Extension).

There are also plans to widen U.S. 176 from two to four lanes with dedicated turn lanes, from U.S. 17-A to the intersection of U.S. 176 and Nexton Parkway/Nexton Parkway Extension. Berkeley County Council awarded the contract for this additional project, known as U.S. 176 Widening Phase I, at the Council meeting on June 28.

With the opening of Spine Road C comes a much-needed third access point to enter/exit the Cane Bay community. The County is proud that through our beneficial One-Cent Sales Tax Program—which funded the U.S. 176/Nexton Parkway Extension and intersection improvements—and through the help of developers like Gramling Brothers we can continue to provide the community critical public safety and infrastructure solutions to traffic congestion; and in this case, help make the commute to work and schools in the Cane Bay area both safer and quicker for all citizens. -Johnny Cribb, Berkeley County Supervisor

###

– Prepared by the Berkeley County Public Information Office –

This project consists of improvements to approximately four miles of Henry E. Brown Jr. Boulevard, from Liberty Hall Road to U.S. 52. See map attached. The project will increase capacity, improve safety, and provide bicycle and pedestrian accommodations. The roadway will be widened from a two-lane section to three-lane section that includes a multi-use path, raised landscaped medians, painted medians, and dedicated left turn lanes at key intersections within the project limits. Montague Plantation Road will be widened from a two-lane section to a four-lane section with a multi-use path and sidewalk. Additionally, the project will include major improvements to the intersection at U.S. 52, Montague Plantation Road, and Old Mount Holly Road.

On June 28, Berkeley County Council awarded the construction contract to J.R. Wilson Company for approximately $23 million. Seamon Whiteside designed the project; Infrastructure, Consulting and Engineering (ICE) will be providing project management and inspection. The project is expected to take three years to complete and will start with clearing the new road right-of-way, the installation of erosion control devices, and utility relocations. The public is urged to drive with caution throughout the duration of the project.

This improvement project is funded from the 2008 and 2014 One-Cent Sales Tax Referendums. Bids for the project were received on June 16, 2021.

For construction updates, visit www.BuildingBerkeley.com.

###

-Prepared by the Berkeley County Public Information Office-

300-unit multi-family complex in Cane Bay sold for $79.5M

The Hudson, a 300-unit multi-family apartment complex in Summerville’s Cane Bay neighborhood, was recently sold in an off-market transaction to a private equity firm for $79.5 million.The sale was announced in November 2021. New York-based developer Monday Properties sold the complex on Owl Lane to Columbia-based ...

The Hudson, a 300-unit multi-family apartment complex in Summerville’s Cane Bay neighborhood, was recently sold in an off-market transaction to a private equity firm for $79.5 million.

The sale was announced in November 2021. New York-based developer Monday Properties sold the complex on Owl Lane to Columbia-based PassiveInvesting.com, which invests in multi-family properties in the Southeast and Texas.

“This off-market transaction was an excellent opportunity for both the buyer and seller, and ultimately the residents within the community,” said Frank Craighill, vice president of development at Monday Properties.

PassiveInvesting.com is now offering qualified investors a stake in The Hudson for a $50,000 minimum commitment.

The Hudson is the only multi-family project located in the Cane Bay community. A Publix-anchored retail center was just added across the street.

Monday Properties broke ground on The Hudson in October 2019 and delivered the first buildings in April 2021 with 10% of the project pre-leased and 21 units occupied. The Hudson experienced a steep pace of demand and is now more than 58% leased with 160 units occupied at sale.

The spacious studio, one-, two-, and three-bedroom apartments have private balconies and patios, open-concept floor plans, stainless steel appliances and nine-foot ceilings.

Amenities include a clubhouse and business center, fitness studio and a saltwater, zero-entry pool with sun shelf. Rent prices range from $1,258 for a studio to $2,344 for a three-bedroom unit.

“The property was a great opportunity for our group to expand our footprint in the Charleston (metropolitan area),” said Dan Handford, managing partner of PassiveInvesting.com. “The high-quality asset fits nicely into our portfolio of multi-family properties.”

According to The Hudson’s investment offering, PassiveInvesting.com predicts a 26.3% annualized return on investment with a five-year hold period and the potential to more than double the investment through equity.

This transaction serves as the second multi-family property acquisition in the Charleston market for the firm. In September 2021, PassiveInvesting.com bought the 350-unit complex Bluewater at Bolton’s Landing in West Ashley. PassiveInvesting.com’s total portfolio has a current value of more than $742 million with a total of 4,233 multi-family units.

The sale of the Hudson at Cane Bay marks the second sale of a multi-family property by Monday Properties this year.

The company sold The Mason, a 264-unit multi-family community in North Charleston in June 2021 to American Landmark, a Florida company.

While Monday Properties focuses primarily on real estate markets in New York City, the greater Washington, D.C. metro area, Los Angeles and San Francisco, the team will continue to keep an eye on development opportunities in Charleston.

Monday Properties’ portfolio includes more than 2,700 multi-family units and more than 5 million square feet of commercial office space.

“We are energized by the current activity in the market and intend to seek future development in Charleston and similar growing Southeast markets,” Craighill said. “The successful delivery and subsequent sale of The Hudson is a direct result of the strength of the Southeast market, specifically the exceptional economic growth of the Charleston area.”

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