173 Brightwood Dr

Charleston, SC 29450

$549,000F

4 bd · 3.5 ba · 2,815 sqft · Built 2023 · SingleFamily · Active · 953 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,033/mo
• Mortgage (P&I): −$2,879
• Tax + insurance: −$915
• HOA: −$33
• Vac / Maint / Mgmt: −$847
• Net cashflow: $-641/mo
• Annual: $-7,690/yr
• Cap rate: 4.89%
• Cash-on-cash: -5.00%
• DSCR: 0.78
• 1% rule: 0.73%
• Cash to close: $153,720

Investor read

• This is a 4-bed/3.5-bath single-family listed at $549k.
• At list price, monthly cash flow is $-641 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $456k (16.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $403k (26.5% below list).
• It's been on market 953 days — a 12% lower offer ($483k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $403k (26.5% below list) — sets the bar for 1% rule.
• Local home prices are declining (-1.1%/yr); year-one equity from $4k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#22 in SC, #3,336 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, housing A+, health & safety A+; Watch: crime D+, commute F, cost of living D-.
• Berkeley 01 (suburban): math 35% / reading 48% proficiency, ranked #30 of 80 in SC (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 69 active listings in the ZIP; 3,183 units permitted in Berkeley County in 2024 (580 in 5+ unit buildings).
• Berkeley County population projected at +48% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Climate carrying-cost: severe wind risk, 96% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 4.9% vs local median 2.4% in 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.

Questions for listing agent

• 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?
• It's been on market 953 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• Crime grade is D 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?
• 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?