135 Fern Bridge Dr · Ridgeville, SC 29483

$240,225

3 bd · 2.5 ba · 1,935 sqft · Townhouse · 17 Days on market

Built 2025 Good condition Est $257k · 7% under $385/mo HOA · 16% of rent ↓ 5% since listing

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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).

• ARV discount +10.5/15.0
• Cash flow +10.1/30.0
• 1% rule +5.0/10.0
• Schools +4.1/10.0
• Condition / age +4.0/5.0
• Livability +3.0/5.0
• DSCR +2.9/10.0
• Rent growth +2.9/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Dawson Pointe, where modern townhome living meets the ease of condo ownership. This new two-story home features a modern layout that maximizes space and comfort. On the first floor is the open-concept main living area, which includes a fully equipped kitchen, intimate dining room and a sunny family room with direct patio access. Upstairs a versatile loft for additional entertainment space and all three bedrooms. The owner's suite is a tranquil retreat with a private bathroom and walk-in closet.

Key facts

• Walk-in closet
• Private bathroom
• Versatile loft

Tags

• OPEN-CONCEPT MAIN LIVING AREA
• FULLY EQUIPPED KITCHEN
• DIRECT PATIO ACCESS
• VERSATILE LOFT
• PRIVATE BATHROOM
• WALK-IN CLOSET

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $240k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-139 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $220k (8.4% below list).
• Meets the 1% rule at list price ($2k rent vs $240k).
• Recommended offer: $220k (8.4% below list) — sets the bar for cash-flow.
• Cap rate 5.6% vs local median 3.1% in Ridgeville — 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 59/100 on livability (#245 in SC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime A-; Watch: health & safety C-, employment D, amenities 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: Alston-Bailey Elementary (math 38% / reading 44%, grade F, #276 of 597 statewide, top 48%, 715 students, 86% FRL); Charles B. Dubose Middle (math 30% / reading 45%, grade F, #90 of 229 statewide, top 42%, 950 students, 62% FRL); Summerville High (math 60% / reading 92%, grade A-, #34 of 196 statewide, top 17%, 3,308 students, 59% FRL) — zoned schools average 69% FRL vs 36% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.4%/yr); 741 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,199 units permitted in Dorchester County in 2024 (0 in 5+ unit buildings).
• This rent runs 34% 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 $7k 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 17 days — a 2% lower offer ($237k) is reasonable based on typical stale-listing flexibility.

Recommended offer $220,115 (8.4% below list)

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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.00% ✓
• Cap rate: 5.60%
• Cash-on-cash: -2.48%
• DSCR: 0.89
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $257,355
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
135 Fern Bridge Dr	0.00mi	3/2.5	1,935 (0%)	0mo	$235,000	$121	100
131 Fern Bridge Dr	0.01mi	3/2.5	1,930 (-0%)	1mo	$238,400	$124	98
161 Green Thistle Way	0.02mi	3/2.5	1,935 (0%)	1mo	$285,409	$147	98
127 Fern Bridge Dr	0.02mi	3/2.5	1,930 (-0%)	1mo	$260,795	$135	98
125 Blowing Leaf Ln	0.02mi	3/2.5	1,935 (0%)	2mo	$265,095	$137	98
129 Blowing Leaf Ln	0.04mi	3/2.5	1,930 (-0%)	2mo	$246,870	$128	96
170 Green Thistle Way	0.06mi	3/2.5	1,930 (-0%)	1mo	$255,595	$132	96
137 Fern Bridge Dr	0.00mi	3/2.5	1,879 (-3%)	2mo	$273,719	$146	94
133 Fern Bridge Dr	0.01mi	3/2.5	1,872 (-3%)	1mo	$235,760	$126	93
164 Green Thistle Way	0.04mi	3/2.5	1,879 (-3%)	0mo	$244,795	$130	93
167 Green Thistle Way	0.03mi	3/2.5	1,872 (-3%)	1mo	$249,795	$133	92
122 Fern Bridge Dr	0.04mi	3/2.5	1,872 (-3%)	1mo	$249,990	$134	92

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: -22.5%
• Equity multiple: 0.24×
• Total profit: $-51,211
• Equity at exit: $35,818

10-year hold

• IRR: -22.0%
• Equity multiple: -0.04×
• Total profit: $-69,622
• Equity at exit: $20,770

Cash invested: $67,263 (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: 8.3×

Monthly cashflow live

• Estimated rent: $2,413 medium
• Mortgage (P&I): −$1,260
• Tax est. 1.5%: −$300 /mo · $3,603/yr
• Insurance: −$100
• HOA: −$385
• Vacancy / Maint / Mgmt: −$507
• Net cashflow: $-139

Break-even live

Break-even rent $2,589

Max offer price $220,115

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: $60,056
• Closing costs: $7,207
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1305 Wild Goose Trl Summerville, SC	3.0	2.5	2363	$2,300	$0.97	2d	1	0.41mi
292 Greyback Rd Summerville, SC	3.0	2.0	1500	$2,995	$2.00	2d	1	0.90mi

HOA detail

• Monthly dues: $385 · $4,620/yr

Listing history 4 events

1. 2026-04-10
   status Pending
2. 2026-04-09
   price $240,225
3. 2026-03-27
   price $243,225
4. 2026-03-24
   listed $253,225 Active

ⓘ 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: $28,954
• − Mortgage interest: −$13,456
• − Property taxes: −$3,603
• − Insurance: −$1,201
• − Repairs & maintenance: −$2,316
• − Management: −$2,316
• − HOA: −$4,620
• − Depreciation: −$6,988
• Taxable loss: −$5,547
• Est. tax savings @ 24.0%: +$1,331
• After-tax cash flow: $-336/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.

Condition & rehab AI · 2 photos

Good 80/100 Cosmetic rehab

This townhouse is in good condition with minimal repairs needed. Painting the exterior and landscaping would significantly enhance its curb appeal and value.

Value-add opportunities

• Both Painting exterior siding — Enhances curb appeal and value
• Both Landscaping front yard — Improves curb appeal and rental appeal
• Both Interior touch-up painting — Enhances interior appearance and value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior siding — Enhances curb appeal and value ↑
• Both Landscaping front yard — Improves curb appeal and rental appeal ↑
• Both Interior touch-up painting — Enhances interior appearance and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Ridgeville

• Score: 59/100
• State rank: #245
• US rank: #20104

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Dorchester County · 182,866 people
• 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

-5.1% since first listed

4 events — show timeline

• 2026-04-10 Pending — Charleston Trident MLS
• 2026-04-09 Price Changed $240,225 Charleston Trident MLS
• 2026-03-27 Price Changed $243,225 Charleston Trident MLS
• 2026-03-24 Listed $253,225 Charleston Trident MLS