1128 Hillman St · James Island, SC 29412

$309,000

3 bd · 2.0 ba · 1,652 sqft · SingleFamily public records · 16 Days on market

Built 1986 0.26 ac lot Est $489k · 37% under

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Why this score? — see what drove the C+ 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 +22.4/30.0
• ARV discount +15.0/15.0
• DSCR +7.2/10.0
• 1% rule +4.8/10.0
• Schools +4.3/10.0
• Livability +3.5/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity knocks in the heart of James Island! Situated on a quarter-acre lot in one of the Charleston area's most desirable and rapidly growing locations, this fixer-upper is priced well below market value and presents a compelling investment opportunity. With strong upside potential, this property is ideal for investors, flippers, or buyers looking to renovate and build instant equity. Comparable renovated homes in the area support a strong after-repair value (ARV), making this a prime candidate for a profitable flip or long-term hold. The lot size, location, and surrounding growth only add to the long-term appreciation potential. Opportunities like this on James Island are rare and mov

Key facts

• Quarter-acre lot
• 0.26 acre lot
• Built 1986

Tags

• QUARTER-ACRE LOT
• INVESTMENT OPPORTUNITY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $309k.

Deal economics

• At list price, monthly cash flow is $513 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $303k (1.9% below list).
• Recommended offer: $303k (1.9% below list) — sets the bar for 1% rule.
• Cap rate 8.3% vs local median 2.4% in James Island — 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 70/100 on livability (#64 in SC) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: amenities F, commute F, cost of living 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: Harbor View Elementary (math 65% / reading 63%, grade B, #63 of 597 statewide, top 11%, 639 students, 40% FRL); Camp Road Middle (math 50% / reading 57%, grade C+, #29 of 229 statewide, top 13%, 864 students, 38% FRL); James Island Charter High (math 73% / reading 89%, grade A, #21 of 196 statewide, top 11%, 1,589 students, 36% FRL, charter).
• Zoned-school proficiency averages 66% at this address vs 50% district-wide (+16 pts) — the actual schools serving this property are materially stronger than the Charleston 01 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+2.1%/yr); 301 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 4,156 units permitted in Charleston County in 2024 (857 in 5+ unit buildings).
• This rent runs 36% of the median local income ($102k/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 $2k of loan paydown is wiped out by about $9k 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 16 days — a 2% lower offer ($304k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 19y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $303,042 (1.9% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. 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.
4. 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.
5. 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: 0.98% ✗
• Cap rate: 8.29%
• Cash-on-cash: 7.12%
• DSCR: 1.32
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $488,992
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1128 Hillman St	0.00mi	3/2.5	1,652 (0%)	1mo	$327,000	$198	97
1129 Camp Rd	0.09mi	3/2.5	1,723 (+4%)	4mo	$509,900	$296	84
1249 Stone Post Rd	0.17mi	4/2.0 (+1)	1,460 (-12%)	5mo	$450,000	$308	64
1409 Kentwood Cir	0.61mi	3/1.5	1,592 (-4%)	1mo	$470,000	$295	63
1475 Swamp Fox Ln	0.22mi	3/2.5	1,408 (-15%)	2mo	$570,000	$405	61
1138 Cottage Rd	0.69mi	4/2.0 (+1)	1,659 (+0%)	3mo	$735,000	$443	60
1174 Fort Johnson Rd	0.21mi	4/3.0 (+1)	1,854 (+12%)	3mo	$490,000	$264	59
1333 Mapleton Ave	0.47mi	3/2.0	1,440 (-13%)	1mo	$633,750	$440	56
1032 Greenhill Rd	0.74mi	3/2.5	1,498 (-9%)	2mo	$260,000	$174	46
1120 Seaside Ln	0.73mi	4/2.0 (+1)	1,796 (+9%)	1mo	$460,000	$256	45
1223 Stone Post Rd	0.59mi	2/2.0 (-1)	1,416 (-14%)	1mo	$1,300,000	$918	43
1418 Kentwood Circle Cir	0.67mi	4/2.5 (+1)	1,859 (+12%)	4mo	$440,000	$237	38

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 · 2.06% rent growth · sell at horizon

5-year hold

• IRR: -6.4%
• Equity multiple: 0.77×
• Total profit: $-20,325
• Equity at exit: $46,073

10-year hold

• IRR: 2.1%
• Equity multiple: 1.14×
• Total profit: $12,519
• Equity at exit: $26,717

Cash invested: $86,520 (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 29412

• Rents YoY: 2.1%
• Active inventory: 301
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $3,030 high
• Mortgage (P&I): −$1,620
• Tax from tax record: −$131 /mo · $1,578/yr
• Insurance: −$129
• HOA: −$0
• Vacancy / Maint / Mgmt: −$636
• Net cashflow: $513

Break-even live

Break-even rent $2,381

Max offer price $309,000

Occupancy floor 78%

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: $77,250
• Closing costs: $9,270
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1133 Oakcrest Dr Charleston, SC	3.0	2.0	1290	$3,300	$2.56	14d	1	0.70mi
1209 Julian Clark Rd Charleston, SC	3.0	2.0	1150	$3,200	$2.78	14d	1	0.71mi
1154 Julian Clark Rd Charleston, SC	2.0	1.5	1193	$1,845	$1.55	23d	1	0.72mi
1410 Dove Run Dr Charleston, SC	2.0	1.5	1400	$1,800	$1.29	23d	1	0.76mi
1129 Quail Dr Charleston, SC	4.0	3.0	1475	$5,200	$3.53	23d	1	0.98mi
1471 Woodhill Ter Charleston, SC	4.0	2.5	2011	$3,000	$1.49	23d	1	1.13mi
770 Dills Bluff Rd Charleston, SC	2.0	2.0	1314	$3,250	$2.47	23d	1	1.23mi
1263 Marshview Dr Charleston, SC	3.0	2.0	1432	$3,000	$2.09	14d	1	1.32mi
753 Sprague St Charleston, SC	3.0	2.0	1680	$4,600	$2.74	23d	1	1.49mi

Listing history 6 events

1. 2026-04-02
   status Pending
2. 2026-03-25
   status Active
3. 2026-03-18
   historical Active Under Contract
4. 2026-03-17
   listed $309,000 Active
5. 2008-02-16
   historical
6. 2007-11-02
   listed $179,900

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

Tax reassessment forecast SC · Resets to sale price

• Current annual tax: $1,578 · $131/mo
• Projected year-2 tax: $1,761 · $147/mo
• Expected delta: +$183/yr (+$15/mo · 11.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (shaded) · 44% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°F today · 18 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,365
• − Mortgage interest: −$17,309
• − Property taxes: −$1,578
• − Insurance: −$1,545
• − Repairs & maintenance: −$2,909
• − Management: −$2,909
• − Depreciation: −$8,989
• Taxable income: $1,126
• Est. tax owed @ 24.0%: −$270
• After-tax cash flow: $5,890/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 — James Island

• Score: 70/100
• State rank: #64
• US rank: #7731

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: James Island, SC
• County: Charleston County · 366,793 people
• Metro: Charleston-North Charleston, SC
• Population (ZIP): 39,256
• Household income: $101,509
• Rent vs Own: 27.3% rent · 72.7% own
• Severe rent burden: 1006.0

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 (74%)
• Race & ethnicity: White 74% Black 16% Hispanic / Latino 5% Two or more races 4% Asian 2%
• Common ancestry: Slovak 3% Italian 3% Lithuanian 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 94% English-only · Spanish 3% French/Haitian/Cajun 1% Other Indo-European 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: ▼ -564.80%
• Current HPI: 400.0617
• Rent YoY: ▲ 2.06%
• 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

+71.8% since first listed

6 events — show timeline

• 2026-04-02 Pending — Charleston Trident MLS
• 2026-03-25 Relisted — Charleston Trident MLS
• 2026-03-18 Contingent — Charleston Trident MLS
• 2026-03-17 Listed $309,000 Charleston Trident MLS
• 2008-02-16 Listing Removed — Charleston Trident MLS
• 2007-11-02 Listed $179,900 Charleston Trident MLS

Property tax history

+3.9%/yr

Latest (2022): $1,578 · +0.4% YoY. Source: county tax records.