2717 Spruill Ave · North Charleston, SC 29405

$175,000

4 bd · 2.0 ba · 972 sqft · MultiFamily public records · 248 Days on market

Built 1945 2,613 sqft lot ↓ 30% since listing

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +29.5/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• Schools +4.3/10.0
• Rent growth +4.1/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Calling all investors and renovators! This duplex offers tremendous potential with the major systems already started -- the electrical has been updated, and the roof is just one year old. Each unit features 1 bedroom and 1 bathroom. The interior will require a full renovation and complete gut to bring it back to life, making it an ideal project for someone looking to start fresh and design the layout and finishes exactly how they want. With the essentials already in place, this property is primed for transformation into a high-performing rental or resale opportunity.

Key facts

• Roof one year old
• 2,613 sq ft lot
• Built 1945

Tags

• MAJOR SYSTEMS UPDATED
• ROOF ONE YEAR OLD

Property features AI

Exterior

• Utilities: Public sewer; Charleston Water Service; Dominion Energy
• Home design: Single-family detached home; Residential property
• Construction: One story
• Exterior features: No additional structures indicated; Located inside I-526 in North Charleston

Interior

• Bedrooms: 2 bedrooms (master on the lower level)
• Bathrooms: 2 bathrooms
• Interior features: One-level living

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $175k.

Deal economics

• At list price, monthly cash flow is $626 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $154k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.6% vs local median 4.0% in North Charleston — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 66/100 on livability (#122 in SC) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: employment C-, crime F, amenities F.
• Charleston 01 (urban): math 48% / reading 53% proficiency, ranked #7 of 80 in SC (top 9%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Chicora Elementary (math 9% / reading 5%, grade F, #596 of 597 statewide, top 100%, 320 students, 100% FRL); Morningside Middle (math 4% / reading 12%, grade F, #226 of 229 statewide, top 99%, 567 students, 100% FRL); North Charleston High (math 27% / reading 57%, grade F, #174 of 196 statewide, top 90%, 768 students, 100% FRL) — zoned schools average 100% FRL vs 44% district-wide (56 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 19% at this address vs 50% district-wide (-32 pts) — the specific schools serving this property underperform the Charleston 01 average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+6.4%/yr); 203 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 4,156 units permitted in Charleston County in 2024 (857 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Charleston County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 6.4% rent growth), your $49k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 248 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $75k (30%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $154,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 248 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.23% ✓
• Cap rate: 10.59%
• Cash-on-cash: 15.34%
• DSCR: 1.68
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.36% rent growth · sell at horizon

5-year hold

• IRR: 9.5%
• Equity multiple: 1.39×
• Total profit: $18,988
• Equity at exit: $26,093

10-year hold

• IRR: 21.1%
• Equity multiple: 3.06×
• Total profit: $100,719
• Equity at exit: $15,131

Cash invested: $49,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State South Carolina: 90 Strongly Landlord-Friendly · R+6
• County: — inherits STATE
• City: — inherits STATE

5-day notice; preempted; landlord-favorable.

Methodology + full state rankings →

ZIP-level market 29405

• Home prices YoY: -29.0%
• Rents YoY: 6.4%
• Active inventory: 203
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $2,150 high
• Mortgage (P&I): −$918
• Tax from tax record: −$82 /mo · $981/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$452
• Net cashflow: $626

Break-even live

Break-even rent $1,357

Max offer price $175,000

Occupancy floor 66%

Sensitivity live

Price	-10% $725	-5% $676	+0% $626	+5% $577	+10% $527
Rent	-10% $456	-5% $541	+0% $626	+5% $711	+10% $796
Rate	-1.0pp $714	-0.5pp $671	base $626	+0.5pp $581	+1.0pp $535

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1941 Clements Ave North Charleston, SC	4.0	2.0	984	$2,200	$2.24	24d	1	0.09mi
1931 Baxter St North Charleston, SC	3.0	1.0	984	$1,550	$1.58	4d	1	0.33mi
2150 Becker St North Charleston, SC	3.0	1.5	1104	$2,000	$1.81	24d	1	0.57mi
1901 Success St North Charleston, SC	3.0	2.0	1000	$1,650	$1.65	20d	1	0.64mi
1818 Leland St Unit A North Charleston, SC	3.0	2.0	750	$1,700	$2.27	24d	1	0.72mi
2245 Garfield St North Charleston, SC	3.0	1.0	1035	$1,700	$1.64	24d	1	0.79mi
1915 Cherokee St North Charleston, SC	3.0	2.0	800	$1,999	$2.50	22d	1	0.98mi
2116 Commander Rd North Charleston, SC	3.0	2.0	1050	$2,250	$2.14	4d	1	1.09mi
2023 Four Mile Ln North Charleston, SC	3.0	2.0	1104	$2,300	$2.08	15d	1	1.39mi
2636 S Allen Dr North Charleston, SC	3.0	2.0	1100	$2,200	$2.00	15d	1	1.39mi
2624 S Allen Dr North Charleston, SC	3.0	2.0	1000	$1,600	$1.60	24d	1	1.40mi
1920 McMillan Ave North Charleston, SC	1.0–3.0	1.0	777	$1,550	$1.99	24d	1	1.44mi

Listing history 16 events

1. 2026-06-18
   days on market $175,000 Active 248 DOM
2. 2026-06-17
   days on market $175,000 Active 247 DOM
3. 2026-06-16
   days on market $175,000 Active 246 DOM
4. 2026-06-15
   days on market $175,000 Active 245 DOM
5. 2026-06-10
   days on market $175,000 Active 240 DOM
6. 2026-06-09
   days on market $175,000 Active 239 DOM
7. 2026-06-08
   days on market $175,000 Active 238 DOM
8. 2026-06-07
   days on market $175,000 Active 237 DOM
9. 2026-06-05
   days on market $175,000 Active 234 DOM
10. 2026-06-03
    days on market $175,000 Active 233 DOM
11. 2026-06-01
    days on market $175,000 Active 231 DOM
12. 2026-05-31
    days on market $175,000 Active 230 DOM
13. 2026-05-13
    status Active
14. 2026-05-01
    historical Active Under Contract
15. 2025-12-18
    price $175,000
16. 2025-10-08
    listed $250,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast SC · Resets to sale price

• Current annual tax: $981 · $82/mo
• Projected year-2 tax: $998 · $83/mo
• Expected delta: +$16/yr (+$1/mo · 1.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 21% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,802
• − Mortgage interest: −$9,803
• − Property taxes: −$981
• − Insurance: −$875
• − Repairs & maintenance: −$2,064
• − Management: −$2,064
• − Depreciation: −$5,091
• Taxable income: $4,924
• Est. tax owed @ 24.0%: −$1,182
• After-tax cash flow: $6,333/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Charleston 01
• NCES district ID: 4501440
• Math proficiency: 48% ▼ -2.00%
• Reading proficiency: 53% ▬ 0.00%
• Median HH income: $52,376
• Composite: 43.41/100
• National rank: #3018
• State rank: #7 of 80 in SC

Livability — North Charleston

• Score: 66/100
• State rank: #122
• US rank: #12222

Category grades

Amenities F Commute F Cost of living A Crime F Employment C- Housing A+ Health & safety A+ User ratings D-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Charleston, SC
• County: Charleston County · 366,793 people
• City population: 108,266
• Metro: Charleston-North Charleston, SC
• Population (ZIP): 26,254
• Household income: $56,600
• Rent vs Own: 49.4% rent · 50.6% own
• Severe rent burden: 1564.0

Population outlook (Charleston County) Hauer SSP2

• Today (2025): 480,562 people
• By 2030: 525,921 · +9.4%
• By 2040: 612,189 · +27.4%
• By 2050: 691,627 · +43.9%
• By 2075: 847,979 · +76.5%
• By 2100: 926,482 · +92.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (57%)
• Race & ethnicity: Black 57% White 34% Hispanic / Latino 5% Two or more races 4%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Slovak 1% Lithuanian 1% Italian 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 5%

Political lean MEDSL · Charleston

• 2024 margin: Lean D (+5.7) · D 51.9% · R 46.3% · Other 1.8%
• 2008→2024 swing: -2.7pp toward R · 2008: 8.3pp · 2024: 5.7pp
• All cycles: 2024: D+5.7 2020: D+12.9 2016: D+7.9 2012: D+2.4 2008: D+8.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -152.19%
• Current HPI: 372.8886
• Rent YoY: ▲ 6.36%
• Metro: Charleston-North Charleston, SC
• State GDP YoY: ▲ 4.51%
• F500 in state: 2

Industry mix (Fortune 500 HQ in SC)

Industry	F500 HQs	Revenue
▸Packaging	1	$7B

Price history

-30.0% since first listed

4 events — show timeline

• 2026-05-13 Relisted — Charleston Trident MLS
• 2026-05-01 Contingent — Charleston Trident MLS
• 2025-12-18 Price Changed $175,000 Charleston Trident MLS
• 2025-10-08 Listed $250,000 Charleston Trident MLS

Property tax history

+0.8%/yr

Latest (2022): $981 · +0.7% YoY. Source: county tax records.