2323 Elder Ave · North Charleston, SC 29406

$145,000

3 bd · 1.0 ba · 1,326 sqft · SingleFamily public records · 299 Days on market

Built 1955 4,791 sqft lot Est $278k · 48% under ↓ 27% 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• Schools +4.3/10.0
• Livability +3.3/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This 3 bed, 1 bath, 1,326 sqft handyman special for the savvy investor or visionary renovator. Sitting in the path of growth in resurging North Charleston, this property great to flip, rent, or hold for long-term appreciation. Prime Location: Minutes to I-26, I-526, Charleston International Airport, Tanger Outlets, and historic Downtown Charleston. It's an easy win for commuters, shoppers, and travelers Why you'll love it:Spacious layout ready for your redesignHot and growing market areaEndless possibilities. Update for resale, or add to your rental portfolioSold As-Is.

Key facts

• Minutes to i-526
• Prime location
• Minutes to i-26

Tags

• PRIME LOCATION
• MINUTES TO I-26
• MINUTES TO I-526
• MINUTES TO TANGER OUTLETS
• SPACIOUS LAYOUT

Property features AI

Finance

• HOA & community: Bus line in the community

Exterior

• Utilities: Public sewer; N Chas Sewer District
• Home design: Single-family detached home; One story; Ground-level entry; Fee simple ownership
• Construction: Architectural roof
• Exterior features: Level lot

Interior

• Kitchen: Electric range
• Bedrooms: 3 bedrooms
• Flooring: Carpet
• Bathrooms: 2 total bathrooms (including 1 half bathroom)
• Heating & cooling: Heat pump heating; Central air conditioning
• Interior features: Blown ceiling insulation; Family room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $593 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $128k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.2% 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: Matilda F. Dunston Elementary (math 12% / reading 17%, grade F, #553 of 597 statewide, top 95%, 436 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 22% at this address vs 50% district-wide (-29 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 (+1.4%/yr); 174 active listings in the ZIP; 22 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 $4k 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 + 1.4% rent growth), your $41k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 299 days — a 12% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y ago; this cycle's ask has dropped $53k (27%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $127,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 299 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 1955 — 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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.39% ✓
• Cap rate: 11.20%
• Cash-on-cash: 17.51%
• DSCR: 1.78
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $278,460
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5309 Jury Ln	0.28mi	3/1.0	1,224 (-8%)	5mo	$180,000	$147	70
5247 Charter Dr	0.20mi	3/1.0	1,248 (-6%)	20mo	$134,999	$108	65
2542 Highpoint Dr	0.24mi	3/2.0	1,284 (-3%)	22mo	$270,000	$210	61
5138 Delta St	0.35mi	2/1.0 (-1)	1,210 (-9%)	6mo	$165,000	$136	59
2536 Celestial Ct	0.41mi	3/2.0	1,280 (-4%)	17mo	$225,000	$176	57
2121 Target St	0.22mi	3/2.0	1,150 (-13%)	19mo	$305,000	$265	48
2513 Celestial Ct	0.33mi	3/2.5	1,484 (+12%)	15mo	$365,000	$246	46
5056 Piedmont Ave	0.66mi	4/2.0 (+1)	1,279 (-4%)	12mo	$230,000	$180	45
1922 Harper St	0.68mi	3/2.0	1,273 (-4%)	19mo	$355,000	$279	42
1821 Wasp St	0.72mi	3/2.0	1,200 (-10%)	6mo	$484,000	$403	41
5136 Delta St	0.36mi	4/1.0 (+1)	1,162 (-12%)	24mo	$285,000	$245	38
1923 Kerry St	0.61mi	3/2.0	1,425 (+8%)	23mo	$275,000	$193	36

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 1.37% rent growth · sell at horizon

5-year hold

• IRR: 7.1%
• Equity multiple: 1.27×
• Total profit: $11,016
• Equity at exit: $21,620

10-year hold

• IRR: 14.9%
• Equity multiple: 2.12×
• Total profit: $45,375
• Equity at exit: $12,537

Cash invested: $40,600 (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 29406

• Home prices YoY: -6.7%
• Rents YoY: 1.4%
• Active inventory: 174
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $2,018 high
• Mortgage (P&I): −$760
• Tax est. 1.5%: −$181 /mo · $2,175/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$424
• Net cashflow: $593

Break-even live

Break-even rent $1,268

Max offer price $145,000

Occupancy floor 66%

Sensitivity live

Price	-10% $693	-5% $643	+0% $593	+5% $542	+10% $492
Rent	-10% $433	-5% $513	+0% $593	+5% $672	+10% $752
Rate	-1.0pp $666	-0.5pp $629	base $593	+0.5pp $555	+1.0pp $517

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2203 Eleanor Dr North Charleston, SC	3.0	1.0	1072	$2,030	$1.89	24d	1	0.13mi
2214 Van Buren Ave Unit B North Charleston, SC	3.0	1.0	1000	$1,950	$1.95	24d	1	0.13mi
2533 Celestial Ct North Charleston, SC	3.0	2.0	1200	$2,000	$1.67	24d	1	0.42mi
5653 Sablewood St North Charleston, SC	3.0–4.0	2.5–3.5	1770	$2,152	$1.22	4d	1	0.74mi
2403 Mall Dr North Charleston, SC	1.0–2.0	1.0–2.0	911	$2,470	$2.71	4d	20	0.81mi
4986 Wetland Xing North Charleston, SC	1.0–2.0	1.0–2.0	997	$2,532	$2.54	4d	15	0.91mi
1901 Gumwood Blvd Unit F North Charleston, SC	2.0	1.0	1100	$900	$0.82	22d	1	1.00mi
1511 Larry St Charleston, SC	3.0	1.0	967	$2,100	$2.17	24d	1	1.01mi
5403 Torgerson Ave North Charleston, SC	3.0	1.0	995	$2,075	$2.09	24d	1	1.04mi
5806 Sledge St Unit A Hanahan, SC	2.0	1.5	1200	$1,600	$1.33	4d	1	1.25mi
5806 Sledge St Hanahan, SC	2.0	2.0	1000	$1,600	$1.60	15d	1	1.25mi
1414 Sumner Ave North Charleston, SC	3.0	2.5	1616	$2,420	$1.50	3d	3	1.29mi
1441 Remount Rd North Charleston, SC	2.0–3.0	1.0–2.0	837	$2,030	$2.42	15d	3	1.29mi
1441 Remount Rd Unit 12 North Charleston, SC	3.0	2.0	1050	$2,030	$1.93	24d	1	1.29mi
6028 Miami St Hanahan, SC	4.0	2.0	1200	$2,350	$1.96	24d	1	1.31mi
4840 Upjohn RD North Charleston, SC	2.0–3.0	1.0–2.0	1066	$1,300	$1.22	24d	1	1.32mi
1331 Addykay Pl North Charleston, SC	3.0	2.0	1200	$2,086	$1.74	24d	1	1.42mi
5739 Salvo ST , SC	2.0	2.0	994	$1,495	$1.50	24d	1	1.43mi
4730 Mint Ave North Charleston, SC	3.0	2.0	1300	$2,499	$1.92	24d	1	1.44mi
1370 Remount Rd Unit 2 North Charleston, SC	2.0	1.5	900	$1,600	$1.78	24d	1	1.45mi
1370 Remount Rd Apt 5 North Charleston, SC	2.0	1.5	900	$1,700	$1.89	24d	1	1.45mi
6211 Rolling Fork Rd Apt E North Charleston, SC	2.0	2.0	988	$1,700	$1.72	24d	1	1.45mi

Listing history 23 events

1. 2026-06-18
   days on market $145,000 Active 299 DOM
2. 2026-06-17
   days on market $145,000 Active 298 DOM
3. 2026-06-16
   days on market $145,000 Active 297 DOM
4. 2026-06-15
   days on market $145,000 Active 296 DOM
5. 2026-06-10
   days on market $145,000 Active 291 DOM
6. 2026-06-09
   days on market $145,000 Active 290 DOM
7. 2026-06-08
   days on market $145,000 Active 289 DOM
8. 2026-06-07
   days on market $145,000 Active 288 DOM
9. 2026-06-05
   days on market $145,000 Active 285 DOM
10. 2026-06-03
    days on market $145,000 Active 284 DOM
11. 2026-06-01
    days on market $145,000 Active 282 DOM
12. 2026-05-31
    days on market $145,000 Active 281 DOM
13. 2026-05-26
    status Active
14. 2026-05-26
    price $145,000
15. 2026-05-19
    historical
16. 2026-02-17
    status Active
17. 2026-02-17
    historical
18. 2025-11-14
    price $165,000
19. 2025-08-14
    listed $198,000 Active
20. 2024-08-29
    historical
21. 2024-04-22
    status Active
22. 2024-04-06
    historical Active Under Contract
23. 2024-03-22
    listed $198,000 Active

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 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: $24,222
• − Mortgage interest: −$8,122
• − Property taxes: −$2,175
• − Insurance: −$725
• − Repairs & maintenance: −$1,938
• − Management: −$1,938
• − Depreciation: −$4,218
• Taxable income: $5,106
• Est. tax owed @ 24.0%: −$1,225
• After-tax cash flow: $5,885/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): 32,001
• Household income: $49,815
• Rent vs Own: 58.2% rent · 41.8% own
• Severe rent burden: 2054.0

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: Diverse neighborhood (Simpson 0.70)
• Race & ethnicity: Black 40% White 32% Hispanic / Latino 19% Two or more races 9% Asian 3%
• Hispanic origin (detail): Mexican 10% Puerto Rican 1%
• Common ancestry: Romanian 1% Italian 1% Lithuanian 1%
• Foreign-born: 15% · Canada, Vietnam
• Languages at home: 79% English-only · Spanish 17% Vietnamese 1% Tagalog/Filipino 1%

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: ▼ -27.09%
• Current HPI: 374.9164
• Rent YoY: ▲ 1.37%
• 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

-26.8% since first listed

11 events — show timeline

• 2026-05-26 Relisted — Charleston Trident MLS
• 2026-05-26 Price Changed $145,000 Charleston Trident MLS
• 2026-05-19 Listing Removed — Charleston Trident MLS
• 2026-02-17 Relisted — Charleston Trident MLS
• 2026-02-17 Listing Removed — Charleston Trident MLS
• 2025-11-14 Price Changed $165,000 Charleston Trident MLS
• 2025-08-14 Listed $198,000 Charleston Trident MLS
• 2024-08-29 Listing Removed — Charleston Trident MLS
• 2024-04-22 Relisted — Charleston Trident MLS
• 2024-04-06 Contingent — Charleston Trident MLS
• 2024-03-22 Listed $198,000 Charleston Trident MLS

Property tax history

+2.7%/yr

Latest (2022): $171 · +0.0% YoY. Source: county tax records.