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Cowpet Bay condos, good location, nice units or run down?
There are two Cowpet Bay Condo Associations- East and West. Both are nice, although I guess you could get a run down one if an owner hasn't done anything to it over the years...
Cowpet locations are relly not on a swimming beach. You need to walk down to to get them. Not the worst walk. The units are pretty nice and some are very big. They seem to be well kept and look pretty strong. We looked there and purchased at Crystal Cove or Sapphire Beach Condos West. , an older place but on Sapphire Beach. We then bought our second unit. We have been very happy with our purchases. Our fees are about 650/month but we are self insured for hurricanes. Most banks will not give a loan without insurance. If the want to give a morgage on Crystal Cove theyt charge a preimum.
One way to look to see how popular Cowpet is is to go to VRBO and see how the rentals look. At lease that would give you an idea. If you use one of the rental agents on island expect to pay out about 50% of the rach rate. If you do it by yourself and use the web you can save some money but it may be a slow start.
Good luck.
I just stayed in Cowpet Bay West. LOVED the unit we rented! It was redone about 4 yrs ago. Layout was ideal. The location of the one we stayed in couldn't be beat. Literally steps to the beach and pool. We stayed 7 nights and never turned the AC on. Left the windows open and listened to the ocean all night and day - WONDERFUL!
With the access to the beach, pool and resteraunts at Elysian, a well kept unit should not be difficult to rent out I would think.
Spent many a wonderful evening at a condo (Cowpet West) owned by friends. Delightful spot, very quiet. The units were well constructed from the get-go with basic maintenance not an issue, the view over the STT Yacht Club moorings is idyllic and I doubt that owners would allow them to get "run down" at all. The condo association is quite tight but the Board seems to run everything very well. There are certainly some other condo associations with a less than stellar rep and likewise condos built in the same timeframe but more cheaply with subsequent major structural issues over time, but if you're seeking an investment I'd venture to guess that you're on the right track where the Cowpet condos are concerned and renting them out shouldn't be a problem at all. Cheers!
