300 Bucksley Ln Unit 302

Charleston, SC 29492

$450,000D

3 bd · 2.0 ba · 1,280 sqft · Built 2005 · SingleFamily · Active · 42 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,798/mo
• Mortgage (P&I): −$2,360
• Tax + insurance: −$505
• HOA: −$528
• Vac / Maint / Mgmt: −$798
• Net cashflow: $-392/mo
• Annual: $-4,706/yr
• Cap rate: 5.25%
• Cash-on-cash: -3.73%
• DSCR: 0.83
• 1% rule: 0.84%
• Cash to close: $126,000

Investor read

• This is a 3-bed/2.0-bath single-family listed at $450k.
• At list price, monthly cash flow is $-392 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $381k (15.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $380k (15.6% below list).
• It's been on market 42 days — a 3% lower offer ($436k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $380k (15.6% below list) — sets the bar for 1% rule.
• In year one you build about $8k of equity ($3k loan paydown + $5k appreciation (1.0% local appreciation)).
• 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.
• Zoned schools: Daniel Island School (math 77% / reading 79%, grade A, #8 of 597 statewide, top 1%, 1,170 students, 4% FRL); Philip Simmons High (math 42% / reading 92%, grade B, #73 of 196 statewide, top 41%, 771 students, 21% FRL) — zoned schools average 12% FRL vs 48% district-wide (36 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 72% at this address vs 42% district-wide (+31 pts) — the actual schools serving this property are materially stronger than the Berkeley 01 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+1.2%/yr); 314 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 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.
• 2 sale attempts since 22y ago; this cycle's ask has dropped $50k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $196k; list at $450k implies a 130% gain — meaningful room to come down on a strong offer.
• By year 5, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 5.2% 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.
• This rent runs 41% of the median local income ($111k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 42 days. Have you received any prior offers? Is the seller open to a 16% 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?
• 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?
• 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.