118 Froman Dr · Summerville, SC 29483

$293,000

4 bd · 1.0 ba · 1,443 sqft · SingleFamily public records · 55 Days on market

Built 1976 0.26 ac lot Est $335k · 12% under

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Why this score? — see what drove the D+ 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 +14.0/30.0
• ARV discount +13.1/15.0
• DSCR +4.2/10.0
• Schools +4.1/10.0
• Livability +3.2/5.0
• 1% rule +3.0/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This one checks all the boxes! A 4-bedroom, 1.5-bath ranch in a sought-after, no HOA neighborhood in the Dorchester District 2 school zone -- and it's truly move-in ready. The big stuff is already taken care of: HVAC, windows, bathrooms and LVP flooring all updated in 2021, a brand new water heater in 2026, and a roof replaced in 2015. The kitchen has been remodeled, the garage was converted into a versatile flex space perfect for a home office, playroom, or guest suite, and the fully fenced lot gives you room to breathe. To top it off, a 4.375% FHA assumable loan is available (subject to lender approval). Storage shed conveys, so don't miss this incredible opportunity in a prime Summervill

Key facts

• Recent updates
• Remodeled kitchen
• Converted garage

Tags

• RECENT UPDATES
• REMODELED KITCHEN
• CONVERTED GARAGE
• FULLY FENCED LOT
• STORAGE SHED

Property features AI

Exterior

• Parking: Off-street parking; Converted garage
• Utilities: Public sewer; Dominion Energy service; Summerville CPW service
• Home design: Single-family detached home; One story; Ground-level entry
• Construction: Asphalt roof; Fee simple ownership
• Exterior features: Chain link fence; Shed(s); Lot size between 0 and 0.5 acre

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: 4 bedrooms; Primary bedroom on lower level
• Flooring: Carpet; Luxury vinyl
• Bathrooms: 1.5 bathrooms
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Blown ceiling insulation; Eat-in kitchen; Family room; Pantry; Utility room
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $293k.

Deal economics

• At list price, monthly cash flow is $35 ($419/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 $233k (20.4% below list).
• Recommended offer: $233k (20.4% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 3.9% in Summerville — 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 63/100 on livability (#167 in SC) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living B+; Watch: amenities F, commute F, health & safety F.
• Dorchester 02 (suburban): math 40% / reading 55% proficiency, ranked #12 of 80 in SC (top 15%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Newington Elementary (math 42% / reading 48%, grade D-, #224 of 597 statewide, top 38%, 758 students, 81% FRL); Gregg Middle (math 28% / reading 45%, grade F, #98 of 229 statewide, top 43%, 850 students, 76% FRL); Summerville High (math 60% / reading 92%, grade A-, #34 of 196 statewide, top 17%, 3,308 students, 59% FRL) — zoned schools average 72% FRL vs 36% district-wide (36 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.4%/yr); 741 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,199 units permitted in Dorchester County in 2024 (0 in 5+ unit buildings).
• This rent runs 33% of the median local income ($86k/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.
• Dorchester County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($284k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 6y 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.
• Current owner paid $250k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 98% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $233,162 (20.4% below list)

Questions for the listing agent

1. It's been on market 55 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
2. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-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?
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: 0.80% ✗
• Cap rate: 6.44%
• Cash-on-cash: 0.51%
• DSCR: 1.02
• GRM: 10.5

CMA / ARV

• ARV (on-the-fly): $334,776
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
114 Froman Dr	0.03mi	3/1.5 (-1)	1,456 (+1%)	2mo	$202,000	$139	89
121 Apache Dr	0.42mi	3/2.0 (-1)	1,462 (+1%)	1mo	$310,000	$212	68
108 Apache Dr	0.47mi	3/2.0 (-1)	1,445 (+0%)	2mo	$325,000	$225	67
322 Damascus Dr	0.31mi	3/2.0 (-1)	1,342 (-7%)	4mo	$312,000	$232	61
237 Moon Dance Ln	0.59mi	3/2.0 (-1)	1,423 (-1%)	2mo	$343,000	$241	60
142 Moon Dance Ln	0.65mi	3/2.0 (-1)	1,452 (+1%)	2mo	$307,000	$211	58
141 Casein St	0.55mi	3/2.0 (-1)	1,500 (+4%)	3mo	$364,000	$243	56
108 Jupiter Ln	0.60mi	3/2.0 (-1)	1,353 (-6%)	1mo	$310,000	$229	52
103 O'leary Cir	0.70mi	3/2.0 (-1)	1,548 (+7%)	1mo	$387,500	$250	45
425 Verbena Ave	0.74mi	3/2.5 (-1)	1,328 (-8%)	3mo	$320,000	$241	39
116 Forest Cir	0.70mi	3/2.0 (-1)	1,300 (-10%)	4mo	$225,000	$173	38
207 Apache Dr	0.59mi	3/2.0 (-1)	1,237 (-14%)	4mo	$299,000	$242	36

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 · 1.45% rent growth · sell at horizon

5-year hold

• IRR: -17.1%
• Equity multiple: 0.40×
• Total profit: $-48,933
• Equity at exit: $43,687

10-year hold

• IRR: -11.9%
• Equity multiple: 0.34×
• Total profit: $-54,389
• Equity at exit: $25,333

Cash invested: $82,040 (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 29483

• Home prices YoY: -34.6%
• Rents YoY: 1.4%
• Active inventory: 741
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $2,332 high
• Mortgage (P&I): −$1,537
• Tax from tax record: −$148 /mo · $1,781/yr
• Insurance: −$122
• HOA: −$0
• Vacancy / Maint / Mgmt: −$490
• Net cashflow: $35

Break-even live

Break-even rent $2,287

Max offer price $293,000

Occupancy floor 94%

Sensitivity live

Price	-10% $201	-5% $118	+0% $35	+5% $-48	+10% $-131
Rent	-10% $-149	-5% $-57	+0% $35	+5% $127	+10% $219
Rate	-1.0pp $183	-0.5pp $109	base $35	+0.5pp $-41	+1.0pp $-118

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: $73,250
• Closing costs: $8,790
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
153 Omalley Dr Summerville, SC	3.0	3.0	1760	$2,290	$1.30	25d	1	0.40mi
409 Verbena Ave Summerville, SC	3.0	2.5	1301	$1,950	$1.50	25d	1	0.72mi
207 Ruth Anne Dr Summerville, SC	3.0	1.0	1000	$1,600	$1.60	21d	1	0.95mi
157 Cantona Dr Summerville, SC	3.0	2.5	1737	$2,300	$1.32	25d	1	0.99mi
319 Pimpernel St Summerville, SC	3.0	2.5	1660	$2,400	$1.45	5d	1	1.04mi
105 Barberry St Summerville, SC	3.0	2.5	1285	$2,050	$1.60	5d	1	1.21mi
103 Barberry St Summerville, SC	3.0	2.5	1548	$2,011	$1.30	25d	1	1.21mi
303 Canaberry Cir Summerville, SC	3.0	2.0	1438	$2,395	$1.67	25d	1	1.31mi
133 Cableswynd Way Summerville, SC	3.0	2.0	1405	$2,200	$1.57	25d	1	1.39mi

Listing history 35 events

1. 2026-06-22
   pricedays on market $293,000 Active 55 DOM
2. 2026-06-18
   days on market $293,500 Active 52 DOM
3. 2026-06-17
   days on market $293,500 Active 51 DOM
4. 2026-06-16
   days on market $293,500 Active 50 DOM
5. 2026-06-15
   days on market $293,500 Active 49 DOM
6. 2026-06-13
   days on market $293,500 Active 47 DOM
7. 2026-06-13
   days on market $293,500 Active 46 DOM
8. 2026-06-10
   days on market $293,500 Active 44 DOM
9. 2026-06-09
   days on market $293,500 Active 43 DOM
10. 2026-06-08
    pricedays on market $293,500 Active 42 DOM
11. 2026-06-07
    days on market $294,000 Active 41 DOM
12. 2026-06-03
    pricedays on market $294,000 Active 37 DOM
13. 2026-06-01
    days on market $295,000 Active 35 DOM
14. 2026-05-31
    days on market $295,000 Active 34 DOM
15. 2026-05-21
    price $295,000
16. 2026-05-10
    price $297,900
17. 2026-04-27
    listed $299,900 Active
18. 2026-04-16
    historical
19. 2026-04-10
    price $293,000
20. 2026-04-05
    price $305,000
21. 2026-03-31
    price $310,000
22. 2026-03-05
    listed $295,000 Active
23. 2026-03-04
    historical
24. 2026-02-24
    price $315,000
25. 2026-01-20
    listed $300,000 Active
26. 2022-05-16
    soldstatus $250,000 Closed
27. 2022-04-04
    status Pending
28. 2022-04-01
    price $255,000
29. 2022-03-23
    price $260,000
30. 2022-03-15
    listed $275,000 Active
31. 2020-07-13
    soldstatus $138,500
32. 2020-06-30
    soldstatus $138,500 Closed
33. 2020-05-26
    historical Active Contingent
34. 2020-05-22
    listed $142,900 Active
35. 1991-07-24
    soldstatus $41,082

ⓘ 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: $1,781 · $148/mo
• Projected year-2 tax: $1,781 · $148/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 98% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,979
• − Mortgage interest: −$16,413
• − Property taxes: −$1,781
• − Insurance: −$1,465
• − Repairs & maintenance: −$2,238
• − Management: −$2,238
• − Depreciation: −$8,524
• Taxable loss: −$4,680
• Est. tax savings @ 24.0%: +$1,123
• After-tax cash flow: $1,542/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: Dorchester 02
• NCES district ID: 4502010
• Math proficiency: 40% ▼ -13.00%
• Reading proficiency: 55% ▼ -4.00%
• Median HH income: $57,937
• Composite: 41.41/100
• National rank: #3475
• State rank: #12 of 80 in SC

Livability — Summerville

• Score: 63/100
• State rank: #167
• US rank: #15058

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Dorchester County · 182,866 people
• City population: 171,668
• Metro: Charleston-North Charleston, SC
• Population (ZIP): 59,186
• Household income: $85,750
• Rent vs Own: 21.4% rent · 78.6% own
• Severe rent burden: 1309.0

Population outlook (Dorchester County) Hauer SSP2

• Today (2025): 186,982 people
• By 2030: 203,967 · +9.1%
• By 2040: 237,160 · +26.8%
• By 2050: 267,479 · +43.1%
• By 2075: 333,025 · +78.1%
• By 2100: 366,560 · +96.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Black 19% Hispanic / Latino 7% Two or more races 6% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Slovak 3% Lithuanian 3% Romanian 3%
• Foreign-born: 5% · Canada
• Languages at home: 93% English-only · Spanish 4%

Political lean MEDSL · Dorchester

• 2024 margin: R (+14.6) · D 41.8% · R 56.4% · Other 1.9%
• 2008→2024 swing: +0.9pp no change · 2008: -15.5pp · 2024: -14.6pp
• All cycles: 2024: R+14.6 2020: R+10.5 2016: R+17.5 2012: R+16.0 2008: R+15.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -131.42%
• Current HPI: 248.8406
• Rent YoY: ▲ 1.45%
• 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

+618.1% since first listed

21 events — show timeline

• 2026-05-21 Price Changed $295,000 Charleston Trident MLS
• 2026-05-10 Price Changed $297,900 Charleston Trident MLS
• 2026-04-27 Listed $299,900 Charleston Trident MLS
• 2026-04-16 Listing Removed — Charleston Trident MLS
• 2026-04-10 Price Changed $293,000 Charleston Trident MLS
• 2026-04-05 Price Changed $305,000 Charleston Trident MLS
• 2026-03-31 Price Changed $310,000 Charleston Trident MLS
• 2026-03-05 Listed $295,000 Charleston Trident MLS
• 2026-03-04 Listing Removed — Charleston Trident MLS
• 2026-02-24 Price Changed $315,000 Charleston Trident MLS
• 2026-01-20 Listed $300,000 Charleston Trident MLS
• 2022-05-16 Sold (MLS) $250,000 Charleston Trident MLS
• 2022-04-04 Pending — Charleston Trident MLS
• 2022-04-01 Price Changed $255,000 Charleston Trident MLS
• 2022-03-23 Price Changed $260,000 Charleston Trident MLS
• 2022-03-15 Listed $275,000 Charleston Trident MLS
• 2020-07-13 Sold (Public Records) $138,500 Public Records
• 2020-06-30 Sold (MLS) $138,500 Charleston Trident MLS
• 2020-05-26 Contingent — Charleston Trident MLS
• 2020-05-22 Listed $142,900 Charleston Trident MLS
• 1991-07-24 Sold (Public Records) $41,082 Public Records

Property tax history

-1.0%/yr

Latest (2025): $1,781 · -0.0% YoY. Source: county tax records.