Chowan Plan · Kiawah Island, SC 29455

$1

3 bd · 3.0 ba · 2,638 sqft · SingleFamily · 35 Days on market

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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

This cottage-style home effortlessly weaves luxury, comfort, and a deep connection to the outdoors, with flexible spaces, open gathering areas, and thoughtfully curated finishes creating an idyllic retreat for those who cherish a refined coastal lifestyle. At its heart, the kitchen blends sophistication and functionality with a Thermador appliance package, custom cabinetry, and a vaulted shiplap ceiling. Flowing into the dining room and wraparound screened porch, it extends naturally into the outdoors for effortless entertaining or purifying relaxation. The main-floor primary suite is a tranquil sanctuary with a cozy sitting area, dual closets, and a freestanding soaking tub. Tucked away on

Key facts

• Custom cabinetry
• Private sitting room
• 2 parking spots

Tags

• THERMADOR APPLIANCE PACKAGE
• CUSTOM CABINETRY
• VAULTED SHIPLAP CEILING
• WRAPAROUND SCREENED PORCH
• FREESTANDING SOAKING TUB
• PRIVATE SITTING ROOM

Property features AI

Exterior

• Parking: 2 parking spaces
• Home design: Chowan plan (new construction plan)
• Exterior features: Address: 2501 Mullet Hall Dr, Johns Island, SC 29455

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 3 bathrooms
• Interior features: Living area of 2,638

🏗️ New construction. The $1 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $1,548,506.

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $1.

Deal economics

• At list price, monthly cash flow is $-9k ($-103k/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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $11k of loan paydown is wiped out by about $46k 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 2322759.0% 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: -0.36%
• Cash-on-cash: -23.74%
• DSCR: -0.06
• GRM: 48.0

CMA / ARV

• ARV (on-the-fly): $1,548,506
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2523 Helmsman Rd	0.16mi	4/3.5 (+1)	2,647 (+0%)	1mo	$1,350,000	$510	84
8072 Jack Island Dr	0.39mi	3/3.5	2,631 (-0%)	3mo	$1,400,000	$532	77
5005 Saltspray Ln	0.55mi	3/3.0	2,638 (0%)	3mo	$1,715,000	$650	72
3305 Knot Aly	0.18mi	3/3.5	2,811 (+7%)	10mo	$1,650,000	$587	70
8068 Jack Island Dr	0.38mi	3/2.5	2,759 (+5%)	5mo	$1,450,000	$526	68
7059 Sounding Ln	0.69mi	3/3.5	2,576 (-2%)	3mo	$1,750,000	$679	60
4043 Chantey	0.58mi	3/3.5	2,809 (+6%)	6mo	$1,618,866	$576	55
9017 Stern Aly	0.74mi	3/3.5	2,756 (+4%)	4mo	$1,515,000	$550	53
4023 Chantey Crst	0.68mi	4/3.5 (+1)	2,875 (+9%)	1mo	$1,688,000	$587	45
9021 Stern Aly	0.74mi	3/3.5	2,811 (+7%)	9mo	$1,653,831	$588	45
7033 Sounding Ln	0.64mi	4/4.5 (+1)	2,763 (+5%)	9mo	$1,597,000	$578	44
7053 Sounding Ln	0.68mi	4/4.5 (+1)	2,939 (+11%)	5mo	$1,785,000	$607	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: -68.6%
• Equity multiple: -0.84×
• Total profit: $-797,406
• Equity at exit: $230,887

10-year hold

• IRR: —
• Equity multiple: -2.23×
• Total profit: $-1,398,316
• Equity at exit: $133,886

Cash invested: $433,582 (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: $2,687 medium
• Mortgage (P&I): −$8,121
• Tax est. 1.5%: −$1,936 /mo · $23,228/yr
• Insurance: −$645
• HOA: −$0
• Vacancy / Maint / Mgmt: −$564
• Net cashflow: $-8,579

Break-even live

Break-even rent $13,546

Max offer price $307,144

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: $387,126
• Closing costs: $46,455
• 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: $32,242
• − Mortgage interest: −$86,740
• − Property taxes: −$23,228
• − Insurance: −$7,743
• − Repairs & maintenance: −$2,579
• − Management: −$2,579
• − Depreciation: −$45,047
• Taxable loss: −$135,675
• Est. tax savings @ 24.0%: +$32,562
• After-tax cash flow: $-70,383/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