Commodore Plan · Kiawah Island, SC 29455

$1

5 bd · 5.5 ba · 3,132 sqft · SingleFamily · 35 Days on market

---

Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Rent growth +3.2/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Cash flow +0.0/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Designed with gathering in mind and crafted with uncompromising quality, this home is a celebration of Lowcountry luxury. The thoughtful floor plan flows effortlessly from one space to the next-ideal for entertaining, welcoming guests, or simply enjoying time together. At its heart, the kitchen, dining, and great room share an open, inviting layout that extends seamlessly onto the screened porch for true indoor-outdoor living. Nearby, the primary suite offers a peaceful retreat, with a guest suite across the home for added privacy and comfort. Upstairs, two spacious en suite bedrooms and a versatile loft offer room for family, guests, or quiet moments. A detached garage features a private g

Key facts

• Private guest suite
• Screened porch
• Open inviting layout

Tags

• SCREENED PORCH
• PRIVATE GUEST SUITE
• OPEN INVITING LAYOUT
• DETACHED GARAGE
• INDOOR OUTDOOR LIVING
• VERSATILE LOFT

Property features AI

Exterior

• Parking: 2 parking spaces
• Home design: Commodore plan (new construction plan); Active listing
• Exterior features: Located at 2501 Mullet Hall Dr, Johns Island, SC 29455

Interior

• Bedrooms: 5 bedrooms
• Bathrooms: 5 full baths and 1 half bath
• Interior features: Living area of 3,132

🏗️ New construction. The $1 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $1,901,124.

What this means for you Summary

Snapshot

• This is a 5-bed/5.5-bath single-family listed at $1.

Deal economics

• At list price, monthly cash flow is $-11k ($-127k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $1).
• Cap rate -0.4% vs local median 0.0% in Kiawah Island — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 64/100 on livability (#154 in SC) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+; Watch: housing C-, amenities F, commute 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.
• Market conditions: Rents rising (+3.0%/yr); 568 active listings in the ZIP; high-income renter base; 4,156 units permitted in Charleston County in 2024 (857 in 5+ unit buildings).
• This rent runs 32% of the median local income ($121k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $13k of loan paydown is wiped out by about $57k 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.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($0) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2851686.0% of price.

Recommended offer $1

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.17% ✗
• Cap rate: -0.40%
• Cash-on-cash: -23.89%
• DSCR: -0.06
• GRM: 49.2

CMA / ARV

• ARV (on-the-fly): $1,901,124
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3035 Eventide Dr	0.19mi	4/4.5 (-1)	3,196 (+2%)	1mo	$2,475,000	$774	78
9004 Topwater Ln	0.21mi	4/3.5 (-1)	3,131 (-0%)	7mo	$1,998,000	$638	71
6056 Honey Hole Hvn	0.48mi	4/4.5 (-1)	3,082 (-2%)	4mo	$1,565,000	$508	63
5015 Saltspray Ln	0.47mi	4/4.5 (-1)	3,211 (+2%)	3mo	$2,359,000	$735	62
2229 Boatwright Rd	0.45mi	4/4.5 (-1)	2,981 (-5%)	12mo	$1,500,000	$503	52
8266 Jack Island Dr	0.63mi	4/4.5 (-1)	3,061 (-2%)	7mo	$2,000,000	$653	52
4039 Chantey Crst	0.60mi	4/3.5 (-1)	3,253 (+4%)	3mo	$1,749,500	$538	50
1006 Basin Ln	0.42mi	4/4.5 (-1)	3,342 (+7%)	12mo	$2,530,000	$757	50
9025 Stern Aly	0.73mi	4/4.5 (-1)	3,082 (-2%)	10mo	$1,636,975	$531	46
7053 Sounding Ln	0.68mi	4/4.5 (-1)	2,939 (-6%)	5mo	$1,785,000	$607	45
4023 Chantey Crst	0.68mi	4/3.5 (-1)	2,875 (-8%)	1mo	$1,688,000	$587	41
7033 Sounding Ln	0.64mi	4/4.5 (-1)	2,763 (-12%)	9mo	$1,597,000	$578	34

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 · 2.95% rent growth · sell at horizon

5-year hold

• IRR: -69.0%
• Equity multiple: -0.85×
• Total profit: $-983,056
• Equity at exit: $283,464

10-year hold

• IRR: —
• Equity multiple: -2.24×
• Total profit: $-1,725,508
• Equity at exit: $164,374

Cash invested: $532,315 (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 29455

• Rents YoY: 3.0%
• Active inventory: 568

Monthly cashflow live

• Estimated rent: $3,218 medium
• Mortgage (P&I): −$9,970
• Tax est. 1.5%: −$2,376 /mo · $28,517/yr
• Insurance: −$792
• HOA: −$0
• Vacancy / Maint / Mgmt: −$676
• Net cashflow: $-10,596

Break-even live

Break-even rent $16,631

Max offer price $367,835

Occupancy floor —

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: $475,281
• Closing costs: $57,034
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-18
   days on market $1 Active 35 DOM
2. 2026-06-17
   days on market $1 Active 34 DOM
3. 2026-06-16
   days on market $1 Active 33 DOM
4. 2026-06-15
   days on market $1 Active 32 DOM
5. 2026-06-10
   days on market $1 Active 27 DOM
6. 2026-06-09
   days on market $1 Active 26 DOM
7. 2026-06-08
   days on market $1 Active 25 DOM
8. 2026-06-07
   days on market $1 Active 24 DOM
9. 2026-06-05
   days on market $1 Active 21 DOM
10. 2026-06-03
    days on market $1 Active 20 DOM
11. 2026-06-01
    days on market $1 Active 18 DOM
12. 2026-05-31
    days on market $1 Active 17 DOM

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

Taxation est. · year 1

• Rental income: $38,613
• − Mortgage interest: −$106,493
• − Property taxes: −$28,517
• − Insurance: −$9,506
• − Repairs & maintenance: −$3,089
• − Management: −$3,089
• − Depreciation: −$55,305
• Taxable loss: −$167,385
• Est. tax savings @ 24.0%: +$40,173
• After-tax cash flow: $-86,982/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 — Kiawah Island

• Score: 64/100
• State rank: #154
• US rank: #14517

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Charleston County · 366,793 people
• Metro: Charleston-North Charleston, SC
• Population (ZIP): 27,576
• Household income: $121,372
• Rent vs Own: 11.8% rent · 88.2% own
• Severe rent burden: 304.0

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: Predominantly White (75%)
• Race & ethnicity: White 75% Black 11% Hispanic / Latino 8% Two or more races 6% Native American 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Lithuanian 5% Romanian 4% Slovak 3%
• Foreign-born: 5% · Canada, Dominican Republic
• Languages at home: 92% English-only · Spanish 6%

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: ▼ -223.02%
• Current HPI: 297.7408
• Rent YoY: ▲ 2.95%
• 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