185 Cotton Leaf Blvd · Summerville, SC 29486

$265,990

3 bd · 2.5 ba · 1,386 sqft · Townhouse · 9 Days on market

Built 2025 2,178 sqft lot Est $288k · 8% under $130/mo HOA · 6% of rent

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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 +11.0/30.0
• ARV discount +11.0/15.0
• 1% rule +3.8/10.0
• Schools +3.6/10.0
• DSCR +3.2/10.0
• Rent growth +3.2/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Aster Towns! These brand-new townhomes are a part of the master-planned community of Cane Bay. Enjoy the spacious open-concept floorplan, complete with included appliances, and beautiful LVP flooring downstairs. Upstairs, enjoy a spacious owner's suite complete with a full-sized bathroom and large walk-in closet. Right down the hall, you will find 2 guest rooms with a full bathroom. Your ideal lifestyle awaits in these move-in ready townhomes!

Key facts

• $130 HOA
• Garage
• Built 2025

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $266k.

Deal economics

• At list price, monthly cash flow is $-113 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $250k (6.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $235k (11.7% below list).
• Recommended offer: $235k (11.7% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 4.0% 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.
• 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: Whitesville Elementary (math 34% / reading 39%, grade F, #328 of 597 statewide, top 55%, 1,031 students, 62% FRL); Berkeley Middle (math 19% / reading 32%, grade F, #162 of 229 statewide, top 71%, 1,403 students, 57% FRL); Berkeley High (math 36% / reading 83%, grade C+, #110 of 196 statewide, top 58%, 1,776 students, 50% FRL).
• Market conditions: Rents rising (+2.7%/yr); 1283 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 3,183 units permitted in Berkeley County in 2024 (580 in 5+ unit buildings).
• This rent runs 31% of the median local income ($90k/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 $8k of value loss. Plan a longer hold.
• Berkeley County population projected at +48% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $234,798 (11.7% 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 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: 0.88% ✗
• Cap rate: 5.78%
• Cash-on-cash: -1.83%
• DSCR: 0.92
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $288,288
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
185 Cotton Leaf Blvd #38	0.00mi	3/2.5	1,386 (0%)	2mo	$260,000	$188	98
179 Cotton Leaf Blvd	0.01mi	3/2.5	1,387 (+0%)	3mo	$286,690	$207	96
184 Cotton Leaf Blvd	0.02mi	3/2.5	1,386 (0%)	4mo	$293,990	$212	96
175 Cotton Leaf Blvd	0.02mi	3/2.5	1,386 (0%)	4mo	$276,490	$199	96
167 Cotton Leaf Blvd	0.04mi	3/2.5	1,386 (0%)	4mo	$299,990	$216	95
151 Cotton Leaf Blvd #55	0.08mi	3/2.5	1,386 (0%)	2mo	$292,990	$211	94
158 Cotton Leaf Blvd	0.06mi	3/2.5	1,386 (0%)	4mo	$287,990	$208	94
163 Cotton Leaf Blvd	0.05mi	3/2.5	1,386 (0%)	5mo	$284,990	$206	94
183 Cotton Leaf Blvd	0.00mi	2/2.5 (-1)	1,387 (+0%)	4mo	$289,000	$208	91
160 Cotton Leaf Blvd	0.06mi	2/2.5 (-1)	1,386 (0%)	4mo	$289,990	$209	89
159 Cotton Leaf Blvd	0.06mi	2/2.5 (-1)	1,387 (+0%)	4mo	$287,990	$208	89
205 Cozy Brook Ct	0.49mi	3/2.5	1,584 (+14%)	3mo	$312,700	$197	51

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 · 2.67% rent growth · sell at horizon

5-year hold

• IRR: -19.7%
• Equity multiple: 0.32×
• Total profit: $-50,979
• Equity at exit: $39,660

10-year hold

• IRR: -13.1%
• Equity multiple: 0.24×
• Total profit: $-56,382
• Equity at exit: $22,998

Cash invested: $74,477 (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 29486

• Home prices YoY: -15.6%
• Rents YoY: 2.7%
• Active inventory: 1283
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $2,348 high
• Mortgage (P&I): −$1,395
• Tax est. 1.5%: −$332 /mo · $3,990/yr
• Insurance: −$111
• HOA: −$130
• Vacancy / Maint / Mgmt: −$493
• Net cashflow: $-113

Break-even live

Break-even rent $2,491

Max offer price $249,596

Occupancy floor 100%

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: $66,498
• Closing costs: $7,980
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
229 Grand View Xing Summerville, SC	4.0	2.0	1768	$2,400	$1.36	14d	1	0.17mi
391 Tiliwa St Summerville, SC	3.0	2.5	1786	$2,295	$1.28	3d	1	0.28mi
402 Tiliwa St Summerville, SC	3.0	2.5	1785	$2,295	$1.29	3d	1	0.32mi
753 Ridgley Dr Summerville, SC	3.0	2.5	1786	$2,295	$1.28	21d	1	0.46mi
755 Ridgley Dr Unit 755 Summerville, SC	3.0	2.5	1796	$2,500	$1.39	3d	1	0.47mi
704 Ladywood Dr Summerville, SC	3.0	2.0	1618	$2,350	$1.45	3d	1	0.50mi
44000 Owl Wood Ln Summerville, SC	1.0–3.0	1.0–2.0	1086	$2,129	$1.96	3d	14	0.69mi
608 Ladywood Dr Summerville, SC	3.0	2.0	1618	$2,200	$1.36	11d	1	0.77mi
108 Haventree Ct Summerville, SC	4.0	2.5	1792	$2,400	$1.34	23d	1	0.78mi
5101 Evado Ln Summerville, SC	3.0	1.0–2.0	859	$2,136	$2.49	2d	19	0.82mi
900 Emblem St Summerville, SC	1.0–3.0	1.0–2.0	1086	$2,159	$1.99	2d	21	0.83mi
130 Lucky Day Dr Summerville, SC	3.0	2.0	1547	$2,100	$1.36	2d	1	0.91mi
844 Lilyford Ln , SC	3.0	2.5	1518	$2,300	$1.52	23d	1	1.00mi
900 Owl Wood Ln Summerville, SC	2.0	2.0	1157	$2,385	$2.06	23d	1	1.23mi
900 Owl Wood Ln Summerville, SC	3.0	2.0	1311	$2,273	$1.73	3d	1	1.23mi
175 Lyra Ln Summerville, SC	3.0–4.0	2.0–3.0	2082	$2,200	$1.06	3d	3	1.25mi
495 Pender Woods Dr Summerville, SC	3.0	2.0	1418	$2,175	$1.53	23d	1	1.39mi
318 Deep River Rd Summerville, SC	4.0	2.0	1689	$2,349	$1.39	14d	1	1.40mi
310 Surfbird Rd Summerville, SC	3.0	2.5	1761	$2,350	$1.33	10d	1	1.40mi

HOA detail

• Monthly dues: $130 · $1,560/yr

Listing history 2 events

1. 2025-10-27
   status Pending
2. 2025-10-18
   listed $265,990 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: $28,176
• − Mortgage interest: −$14,900
• − Property taxes: −$3,990
• − Insurance: −$1,330
• − Repairs & maintenance: −$2,254
• − Management: −$2,254
• − HOA: −$1,560
• − Depreciation: −$7,738
• Taxable loss: −$5,850
• Est. tax savings @ 24.0%: +$1,404
• After-tax cash flow: $44/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: Berkeley 01
• NCES district ID: 4501170
• Math proficiency: 35% ▼ -8.00%
• Reading proficiency: 48% ▼ -2.00%
• Median HH income: $52,724
• Composite: 35.95/100
• National rank: #4799
• State rank: #30 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: Berkeley County · 198,768 people
• City population: 171,668
• Metro: Charleston-North Charleston, SC
• Population (ZIP): 53,975
• Household income: $89,578
• Rent vs Own: 22.0% rent · 78.0% own
• Severe rent burden: 1017.0

Population outlook (Berkeley County) Hauer SSP2

• Today (2025): 254,184 people
• By 2030: 279,677 · +10.0%
• By 2040: 329,379 · +29.6%
• By 2050: 375,557 · +47.8%
• By 2075: 476,740 · +87.6%
• By 2100: 535,945 · +110.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 62% Black 19% Two or more races 10% Hispanic / Latino 10% Asian 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2%
• Common ancestry: Lithuanian 4% Italian 2% Romanian 2%
• Foreign-born: 5% · Canada, Jamaica
• Languages at home: 91% English-only · Spanish 6% German/W. Germanic 1%

Political lean MEDSL · Berkeley

• 2024 margin: R (+16.3) · D 41.1% · R 57.4% · Other 1.4%
• 2008→2024 swing: -3.2pp toward R · 2008: -13.1pp · 2024: -16.3pp
• All cycles: 2024: R+16.3 2020: R+11.7 2016: R+17.4 2012: R+18.9 2008: R+13.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -52.74%
• Current HPI: 285.0567
• Rent YoY: ▲ 2.67%
• 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

2 events — show timeline

• 2025-10-27 Pending — Charleston Trident MLS
• 2025-10-18 Listed $265,990 Charleston Trident MLS