Homes/South Carolina/Myrtle Beach/500 Fairway Village Dr Unit 8E
CompCasa Property Analysis · condo

500 Fairway Village Dr Unit 8E

Top-Floor Studio with Vaulted Ceilings and Private Balcony

Island Green condo near golf, pools, and beaches — affordable, updated, move-in ready

0 beds1 baths594 sq ftBuilt 1986none
CompCasa valuation analysis
Estimated market value
$85,000
Low $80,000 · Midpoint $85,000 · High $90,000
Confidence80%Sales comparison approach
Last recorded sale$87,900Jul 31, 2025
CompCasa estimate$85,000Mar 8, 2026
Estimate vs. last recorded sale−$2,900 / −3.3%
$80,000$85,000 midpoint$90,000
Price / sq ft$143

Sales comparison approach using recent comparable sales within the same complex and nearby area.

About the property

Top-Floor Studio with Vaulted Ceilings and Private Balcony

This top-floor studio in Island Green immediately stands out for its soaring vaulted ceilings and private balcony — a rare combination in an economical Myrtle Beach condo. At roughly 594 square feet, the layout feels larger than the numbers suggest, with newer vinyl plank flooring underfoot and an open living area that captures the breezy, coastal vibe of the community. The private balcony faces quiet landscaping and provides a small outdoor retreat after a day at the beach or on the green.

The functional, single-bath floorplan is an ideal match for a first-time buyer, seasonal homeowner, or investor. Mechanical systems include central heating and cooling; the building’s construction (1986, wood frame) gives the unit classic Mid-80s condominium bones that have been refreshed where it matters. Storage and ease of access are enhanced by this top-level position — no upstairs neighbors and an airy, uncluttered feel throughout.

Island Green’s amenities are a major part of the lifestyle: residents enjoy access to two community pools and adjacency to the neighborhood golf course. Surfside Beach is only about seven miles away and Murrells Inlet dining and marsh access sits roughly eight miles south — convenient drives whether you’re hunting for a day on the sand or waterfront restaurants. Practical details include one assigned parking space and public utilities; buyers should verify current HOA fees and rules as part of due diligence.

Market-savvy shoppers will note recent comparable sales inside the complex clustered between roughly $80,000 and $100,000, and a current valuation midpoint around $85,000. Rental comps in the building support short-term or long-term leasing potential (est. rent ~$900/month), making this unit appealing for investors looking for affordable inventory with steady local demand. Schedule a showing to experience the vaulted ceiling and balcony perspective in person — this is an accessible entry point to Myrtle Beach living and Island Green community life.

Comparable evidence

See the properties helping shape the valuation.

Comparable sales

01Sold price$117,500
Property address500 Fairway Village Dr Unit 7-G, Myrtle Beach, SC 29588
1 bed1 bath618 sq ftBuilt 19860.1 mi$190/SF
Sold May 15, 2023
Subject difference
  • 24 SF larger
  • 1 additional bedroom
  • Same year built
Research comparison noteSimilar unit with one bedroom, sold recently.
02Sold price$99,900
Property address500 Fairway Village Dr Unit 6E, Myrtle Beach, SC 29588
1 bed1 bath594 sq ftBuilt 19860.1 mi$168/SF
Sold Jul 31, 2025
Subject difference
  • Same living area
  • 1 additional bedroom
  • Same year built
Research comparison noteComparable unit with similar size and features.
03Sold price$155,000
Property address500 Fairway Village Dr Unit 7P, Myrtle Beach, SC 29588
2 bed2 bath1,062 sq ftBuilt 19860.1 mi$146/SF
Sold Sep 15, 2025
Subject difference
  • 468 SF larger
  • 2 additional bedrooms
  • 1 additional bathroom
  • Same year built
Research comparison noteLarger unit with two bedrooms and two bathrooms.
Comp methodology: Comparable sales and rentals within the same complex and nearby area were used to estimate the property's value and rental potential.
Property details

A 1986 studio.

Building

Year built1986
ConstructionWood Frame
RoofAsphalt Shingle
Heatingcentral
Coolingcentral

Site & utilities

Garagenone
Stories1
ConditionGood
BasementNone
FireplaceNo
Improvement notesStudio apartment with vaulted ceilings, private balcony, and newer vinyl plank flooring.
TopographyLevel
ParkingAssigned
Parking spaces1
Parking notesOne assigned parking space
AccessStandard residential access
WaterPublic
SewerPublic
ElectricAvailable
GasNot Available
Location & nearby

Island Green

Researched nearby locations

Surfside Beach (7 miles)
Murrells Inlet (8 miles)
Hwy 31 access (3 miles)

Location

500 Fairway Village Dr Unit 8E, Myrtle Beach, SC 29588

View in Google Maps
Editorial neighborhood context

Island Green is a mature, golf-oriented community tucked a short drive from Myrtle Beach’s eastern shoreline. The neighborhood’s character is defined by its fairways, low-rise condo buildings, and resident-focused amenities like multiple pools. Daily life here blends quiet residential streets with easy access to coastal recreation: Surfside Beach is only minutes away for sun and surf, while Murrells Inlet offers seafood restaurants and marshland excursions. Commuting is straightforward via Hwy 31, and family buyers will appreciate assignment to St. James schools in the Horry County system.

Nearby access summary

Very good golf and pool access on-site with island beaches reachable in about 7 miles; Murrells Inlet waterfront dining and marsh recreation are approximately 8 miles away.

ElementarySt. James Elementary School
Middle schoolSt. James Middle School
High schoolSt. James High School
School districtHorry County Schools
Market context

A factual market snapshot around 500 Fairway Village Dr Unit 8E.

Editorial market perspective

The local Myrtle Beach condo market for affordable units like this studio is showing continued interest from both investors and budget-conscious buyers. Recent comparable sales within the same complex traded in a tight band — roughly $80k to $100k — supporting the current list price of $84,900 and an estimated value midpoint around $85k. Rental comparables point to monthly rents near $900, producing a gross rental yield in the neighborhood of 12–13% based on current pricing, which keeps investor demand steady. While broad market metrics (county-wide median sale price, inventory months, and average DOM) are not available in this data set, micro-market signals from Island Green indicate active turnover and consistent appeal because of golf-course adjacency and proximity to beaches.

For buyers: this segment often leans toward a seller’s advantage when inventory is limited and priced under $100k, but affordability keeps a steady stream of potential purchasers in the market. For investors: the high gross yield and proven rental comparables make this an attractive buy-and-hold or short-term rental candidate — subject to HOA rules. Recommended next steps are verifying HOA fees/inclusions, confirming parking arrangements, and assessing the building’s maintenance plans before purchase.

Zoning & land use

Multi-Family Residential

Zoning

Zoning codeMF
DescriptionMulti-Family Residential
JurisdictionHorry County
Assessor useCondominium
Current useResidential

Research-indicated uses

  • Multi Family Residential
  • Condominiums
Verify with the jurisdiction: Zoning, setbacks, and allowed-use summaries are research indicators—not legal advice or a determination that a specific use is permitted.
Tax & sale history

Assessment data and recorded transactions.

Assessed value is kept visually separate from the CompCasa market-value estimate.

Sale history

2025-07-31$87,900 · $148/SF
2025-05-04$89,900 · $151/SF
2025-04-01$92,900 · $156/SF
2025-01-07$94,900 · $160/SF
2013-08-19$19,500 · $33/SF
2002-04-12$28,000 · $47/SF
Rental market context

Rental references from the research record.

Context only—not an investment recommendation or guarantee of achievable rent.

Supporting lease references

01Monthly rent$950/mo
Property address500 Fairway Village Dr Unit 7-G, Myrtle Beach, SC 29588
1 bed1 bath618 sq ft$1.54/SF
Leased Jun 1, 2025
Subject difference
  • 24 SF larger
  • 1 additional bedroom
Research comparison noteSimilar unit rented recently.
02Monthly rent$900/mo
Property address500 Fairway Village Dr Unit 6E, Myrtle Beach, SC 29588
1 bed1 bath594 sq ft$1.52/SF
Leased Jul 1, 2025
Subject difference
  • Same living area
  • 1 additional bedroom
Research comparison noteComparable unit with similar size and features.
Research findings & due diligence

What the research supports — and what is still worth verifying.

Key findings

  • Listed at $84,900 in March 2026
  • Previous sales: $19,500 in 2013; $28,000 in 2002
  • Comparable units sold between $80,000 and $100,000
  • Built in 1986 with 594 sq ft of living space
  • Community amenities include pools and golf courses

Still worth verifying

Routine buyer due diligence items; these are not known defects.

  • Confirm HOA fees and inclusions
  • Verify recent renovations and updates
  • Assess building's structural integrity
  • Review community rules and regulations
  • Confirm parking arrangements and availability
Highlights & features

What stands out about this property.

Interior Features

  • Top-floor studio layout
  • Vaulted ceilings
  • Newer vinyl plank flooring
  • One full bathroom
  • Central heat and air
  • Private balcony

Exterior & Lot

  • Assigned parking (one space)
  • Two community pools
  • Adjacent golf course (Island Green)
  • Wood-frame construction (1986)
  • Asphalt shingle roof
  • Level site

Location & Neighborhood

  • Island Green community
  • Approximately 7 miles to Surfside Beach
  • Approximately 8 miles to Murrells Inlet dining and marshes
  • Hwy 31 access ~3 miles
  • Horry County Schools district — St. James schools

Walkability & Recreation

  • Walkability Rating: 35/100 — Car-Dependent
  • Community pools and on-site golf access
  • Beaches within a short drive (Surfside Beach ~7 miles)
  • Murrells Inlet waterfront dining ~8 miles
  • Local driving access to Hwy 31 for regional travel
  • Neighborhood green spaces and quiet residential streets
Research transparency

Sources & research confidence.

See where the property research came from and how confidence varies by field.

View sources & confidence
1
Redfin listing for 500 Fairway Village Dr Unit 8EView source
2
Compass listing for 500 Fairway Village Dr Unit 8EView source
3
Zillow listing for 500 Fairway Village Dr Unit 8EView source
4
Realtor.com listing for 500 Fairway Village Dr Unit 8EView source
5
GreatSchools profile for St. James Elementary SchoolView source
6
GreatSchools profile for St. James Middle SchoolView source
7
GreatSchools profile for St. James High SchoolView source
Important: This analysis is AI-assisted and may contain inaccuracies. It is not a formal appraisal. Verify all critical facts with primary records, licensed professionals, and on-site inspection before making purchase decisions.