Is 165 Green Thistle Way in Summerville, SC a good investment?

CashFlowRE grades it D with a 5.5% cap rate and $-153/mo modeled cash flow at a $242,820 list price. See the full underwriting and recommended offer on the page.

What is the cap rate for 165 Green Thistle Way?

The modeled cap rate is 5.5% — annual NOI divided by price, using CashFlowRE's rent and expense estimates.

What would this property rent for?

Estimated market rent is $2,417/month, from CashFlowRE's rent model.

D Composite 41.96

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 +9.8/30.0
ARV discount +9.2/15.0
Schools +5.2/10.0
1% rule +5.0/10.0
Condition / age +4.0/5.0
Livability +3.2/5.0
Rent growth +2.9/5.0
DSCR +2.8/10.0
Appreciation +0.0/10.0

$242,820

165 Green Thistle Way · Summerville, SC 29483

3 bd · 2.5 ba · 1,930 sqft · Townhouse · 66 Days on market

Built 2026 Good condition 2,613 sqft lot 2-car garage $126/sqft · at area comps Est $252k · at est. $385/mo HOA · 16% of rent

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks MLS

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
Versatile loft space
Owner's suite

What this means for you Summary

Snapshot

This is a 3-bed/2.5-bath townhouse listed at $243k. Condition is rated good.

Deal economics

At list price, monthly cash flow is $-153 ($-2k/yr) — negative.
To cash-flow at today's rent, offer at most $221k (9.1% below list).
To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $242k (0.5% below list).
Recommended offer: $221k (9.1% below list) — sets the bar for cash-flow.
Cap rate 5.5% 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: 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); 893 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 66 days — a 6% lower offer ($228k) is reasonable based on typical stale-listing flexibility.
2 sale attempts; this cycle's ask has dropped $18k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $220,613 (9.1% below list)

Questions for the 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 66 days. Have you received any prior offers? Is the seller open to a 9% 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?
Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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?
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.
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.
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: 5.53%
Cash-on-cash: -2.71%
DSCR: 0.88
GRM: 8.4

CMA / ARV

ARV (median comp): $252,350
List price: $242,820
Delta: -3.38%
Verdict: FAIR
Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
162 Green Thistle Way	0.02mi	3/2.5	1,930 (0%)	1mo	$250,120	$130	98
138 Green Thistle Way	0.05mi	3/2.5	1,930 (0%)	0mo	$249,430	$129	97
142 Green Thistle Way	0.04mi	3/2.5	1,930 (0%)	1mo	$265,000	$137	97
155 Green Thistle Way	0.05mi	3/2.5	1,935 (+0%)	2mo	$284,566	$147	96
141 Green Thistle Way	0.06mi	3/2.5	1,930 (0%)	1mo	$256,980	$133	96
166 Green Thistle Way	0.08mi	3/2.5	1,935 (+0%)	1mo	$253,270	$131	95
137 Green Thistle Way	0.07mi	3/2.5	1,935 (+0%)	2mo	$265,795	$137	95
153 Green Thistle Way	0.01mi	3/2.5	1,879 (-3%)	1mo	$237,560	$126	94
171 Green Thistle Way	0.02mi	3/2.5	1,879 (-3%)	1mo	$264,305	$141	93
164 Green Thistle Way	0.05mi	3/2.5	1,879 (-3%)	2mo	$244,795	$130	92
136 Green Thistle Way	0.06mi	3/2.5	1,872 (-3%)	1mo	$251,635	$134	92
157 Green Thistle Way	0.08mi	3/2.5	1,872 (-3%)	1mo	$261,420	$140	91

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: -22.8%
Equity multiple: 0.23×
Total profit: $-52,561
Equity at exit: $36,205

10-year hold

IRR: -22.7%
Equity multiple: -0.06×
Total profit: $-72,014
Equity at exit: $20,995

Cash invested: $67,990 (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 →

Seller's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

For sale now: 4 active · 12 under contract
Months of supply: 0.9 mo (117%/mo absorbed)
Median asking: $266,320 ($140/sqft)
Median days on market: 40 d
This list price: lowest-priced of the active set
ARV vs active asking: -6.8% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 29483

Home prices YoY: -34.6%
Rents YoY: 1.4%
Active inventory: 893
Price-to-rent: 8.4×

Monthly cashflow live

Estimated rent: $2,417 medium interval (Pro) →
Mortgage (P&I): −$1,273
Tax est. 1.5%: −$304 /mo · $3,642/yr
Insurance: −$101
HOA: −$385
Lot rent: −$0
Vacancy / Maint / Mgmt: −$508
Net cashflow: $-153

Break-even live

Break-even rent $2,611

Max offer price $220,613

Occupancy floor —

Sensitivity live

Price	-10% $14	-5% $-70	+0% $-153	+5% $-237	+10% $-321
Rent	-10% $-344	-5% $-249	+0% $-153	+5% $-58	+10% $37
Rate	-1.0pp $-31	-0.5pp $-92	base $-153	+0.5pp $-216	+1.0pp $-280

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: $60,705
Closing costs: $7,285
Club membership (one-time): —
Reserves months: —
Total cash needed: —

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Short-term bridge; refi at stabilization.

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	39d	1	0.46mi
292 Greyback Rd Summerville, SC	3.0	2.0	1500	$2,995	$2.00	15d	1	0.97mi

Property features AI

Finance

Other: Condominium ownership
HOA & community: HOA fee of $385 per month

Exterior

Parking: Attached 2-car garage
Utilities: Public sewerServed by Berkeley Electric Co-OpDorchester County water and sewer servicesSummerville CPW
Home design: Residential condominiumSingle family attachedTwo levelsNew construction
Construction: Condominium structure
Exterior features: Partial fencingArchitectural roof

Interior

Kitchen: DishwasherDisposalElectric rangeMicrowave
Bedrooms: 3 bedroomsPrimary bedroom located on upper level
Flooring: CarpetVinyl
Bathrooms: 2.5 bathrooms
Heating & cooling: Central air conditioningElectric heating
Interior features: Smooth ceilingsHigh ceilingsKitchen islandWalk-in closet(s)Family roomEntrance foyerLiving/dining comboLoft
Laundry & utility: Laundry room with washer and electric dryer hookups

Listing history 50 events

2026-08-08

days on market $242,820 Active 66 DOM
2026-08-07

pricedays on market $242,820 Active 65 DOM
2026-08-06

days on market $243,820 Active 64 DOM
2026-08-05

days on market $243,820 Active 63 DOM
2026-08-04

days on market $243,820 Active 62 DOM
2026-08-03

days on market $243,820 Active 61 DOM
2026-07-31

days on market $243,820 Active 58 DOM
2026-07-30

days on market $243,820 Active 56 DOM
2026-07-28

days on market $243,820 Active 55 DOM
2026-07-26

days on market $243,820 Active 53 DOM
2026-07-25

days on market $243,820 Active 52 DOM
2026-07-24

days on market $243,820 Active 51 DOM
2026-07-23

days on market $243,820 Active 50 DOM
2026-07-22

days on market $243,820 Active 49 DOM
2026-07-21

days on market $243,820 Active 48 DOM
2026-07-19

days on market $243,820 Active 45 DOM
2026-07-18

days on market $243,820 Active 44 DOM
2026-07-16

days on market $243,820 Active 43 DOM
2026-07-15

pricedays on market $243,820 Active 42 DOM
2026-07-14

pricedays on market $248,820 Active 41 DOM
2026-07-13

days on market $251,320 Active 40 DOM
2026-07-12

days on market $251,320 Active 39 DOM
2026-07-11

days on market $251,320 Active 38 DOM
2026-07-10

days on market $251,320 Active 37 DOM
2026-07-09

days on market $251,320 Active 36 DOM
2026-07-07

days on market $251,320 Active 34 DOM
2026-07-06

days on market $251,320 Active 33 DOM
2026-07-05

days on market $251,320 Active 32 DOM
2026-07-03

days on market $251,320 Active 30 DOM
2026-07-02

days on market $251,320 Active 29 DOM
2026-07-01

days on market $251,320 Active 28 DOM
2026-06-30

days on market $251,320 Active 27 DOM
2026-06-29

days on market $251,320 Active 26 DOM
2026-06-28

days on market $251,320 Active 25 DOM
2026-06-28

days on market $251,320 Active 24 DOM
2026-06-27

days on market $251,320 Active 23 DOM
2026-06-25

days on market $251,320 Active 21 DOM
2026-06-23

days on market $251,320 Active 19 DOM

Show marketing remark (420 chars)

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.
2026-06-22

days on market $251,320 Active 18 DOM
2026-06-18

days on market $251,320 Active 15 DOM
2026-06-17

days on market $251,320 Active 14 DOM
2026-06-16

days on market $251,320 Active 13 DOM
2026-06-15

days on market $251,320 Active 12 DOM
2026-06-13

days on market $251,320 Active 10 DOM
2026-06-13

pricedays on market $251,320 Active 9 DOM
2026-06-10

days on market $260,820 Active 7 DOM
2026-06-09

days on market $260,820 Active 6 DOM

Show marketing remark (420 chars)

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.
2026-06-08

days on market $260,820 Active 5 DOM
2026-06-07

remarks 542-char remark
2026-06-07

pricedays on marketlisting id $260,820 Active 4 DOM

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

Nearby sold comps map

Loading sold comps map…

Walkable amenities ~0.75 mi

Loading nearby amenities…

Taxation est. · year 1

Rental income: $29,007
− Mortgage interest: −$13,602
− Property taxes: −$3,642
− Insurance: −$1,214
− Repairs & maintenance: −$2,321
− Management: −$2,321
− HOA: −$4,620
− Depreciation: −$7,064
Taxable loss: −$5,776

Your marginal tax rate % combined federal + state — saved on this device

Est. tax savings @ 24.0%: +$1,386
After-tax cash flow: $-455/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 · 12 photos

Good 80/100 None rehab

This modern townhouse is in excellent condition with a good layout and ample space. It is move-in ready and has the potential for further updates to increase its value.

Value-add opportunities

Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics. ↑
Both Updating the flooring — New flooring can improve the overall look and feel of the home. ↑
Both Upgrading the kitchen appliances — Modern appliances can increase the home's appeal and functionality. ↑
Both Adding smart home features — Smart home features can increase convenience and appeal to potential buyers/renters. ↑
Both Landscaping improvements — Enhanced landscaping can improve curb appeal and add value to the property. ↑

D Composite school gradezoned avg 52/100

Zoned Schools

Elementary Alston-Bailey Elementary F SC #276/597 Nat'l #19,009/41,679 Middle Charles B. Dubose Middle F SC #90/229 Nat'l #6,708/14,009 High Summerville High A- SC #34/196 Nat'l #1,484/17,239

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

C Composite livability gradescore 63/100

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 · 186,982 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: 16% of renters

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
#370 Sonoco Products Hartsville $6.8B

Price history

-0.4% since first listed

8 events — show timeline

2026-06-23 Price Changed $250,320 Zillow
2026-06-11 Price Changed $251,320 Zillow
2026-06-11 Price Changed $251,320 Charleston Trident MLS
2026-06-10 Price Changed $258,820 Charleston Trident MLS
2026-06-09 Price Changed $258,820 Zillow
2026-06-03 Listed $260,820 Charleston Trident MLS
2026-06-02 Price Changed $256,400 Zillow
2026-05-27 Listed $251,400 Zillow

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

Loading sold comps…