118 Luden Dr Apt B · Summerville, SC 29483

$155,900

2 bd · 2.0 ba · 1,143 sqft · Townhouse public records · 15 Days on market

Built 1980 871 sqft lot Est $151k · at est.

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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 +13.6/30.0
• ARV discount +6.0/15.0
• 1% rule +5.1/10.0
• DSCR +4.1/10.0
• Schools +4.1/10.0
• Livability +3.2/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cozy 2 bedroom, 2.5 bathroom condo located minutes to Volvo, Mercedes, Boeing and downtown Summerville. This home offers a very spacious living room with a wood burning fireplace, dining room and updated kitchen. The two bedroom are upstairs and each has their own bathroom. The unit offers a spacious private courtyard with a brick fence. Laminate flooring downstairs with carpet upstairs in the bedrooms. The neighborhood offers a pool and is a short walk to the Saw Mill Branch Trail.

Key facts

• Separate dining room
• Ample cabinet space
• Private bathroom

Tags

• WOOD BURNING FIREPLACE
• DEDICATED LAUNDRY AREA
• AMPLE CABINET SPACE
• SEPARATE DINING ROOM
• PRIVATE BATHROOM
• ABUNDANT CLOSET SPACE

Property features AI

Finance

• HOA & community: Monthly association fee

Exterior

• Parking: Off-street parking
• Utilities: Public sewer; Dominion Energy service; Summerville CPW service
• Home design: Residential condominium; Single-family attached (townhouse); Two stories
• Construction: Asphalt roof; Townhouse structure
• Exterior features: Community pool

Interior

• Kitchen: Dishwasher; Disposal; Electric range; Microwave
• Bedrooms: 2 bedrooms; Primary bedroom on upper level
• Flooring: Carpet; Ceramic tile; Vinyl
• Bathrooms: 2.5 bathrooms
• Heating & cooling: Central air conditioning; Electric forced air heating
• Interior features: Blown ceilings; Ceiling fans; Eat-in kitchen; Family room; Separate dining room; Utility room
• Laundry & utility: Laundry room with washer and electric dryer hookups

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $156k.

Deal economics

• At list price, monthly cash flow is $7 ($87/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $156k).
• Recommended offer: $154k (1.5% below list) — sets the bar for market timing.
• Cap rate 6.3% 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; 15 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 15 days — a 2% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 25y 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

• Watch-outs: property tax is 2.8% of price.
• Climate carrying-cost: severe wind risk, 97% 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 $153,561 (1.5% below list)

Questions for the listing agent

1. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.01% ✓
• Cap rate: 6.35%
• Cash-on-cash: 0.20%
• DSCR: 1.01
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $150,876
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
122 Luden Dr Unit B	0.02mi	2/2.5	1,147 (+0%)	16mo	$138,000	$120	83
130 Luden Dr Unit B	0.07mi	2/2.5	1,134 (-1%)	14mo	$170,000	$150	82
136 Luden Dr Unit D	0.12mi	2/2.5	1,143 (0%)	19mo	$165,000	$144	76
114 Luden Dr Unit B	0.04mi	2/2.5	1,252 (+10%)	14mo	$140,000	$112	69
114 Luden Dr Unit A	0.04mi	2/2.5	1,252 (+10%)	16mo	$165,000	$132	67
114 Luden Dr Unit C	0.04mi	2/2.5	1,272 (+11%)	14mo	$164,000	$129	66
124 Luden Dr Unit B	0.03mi	2/2.5	1,252 (+10%)	21mo	$170,000	$136	63

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: -17.9%
• Equity multiple: 0.38×
• Total profit: $-27,102
• Equity at exit: $23,245

10-year hold

• IRR: -13.8%
• Equity multiple: 0.26×
• Total profit: $-32,151
• Equity at exit: $13,479

Cash invested: $43,652 (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: 8.2×

Monthly cashflow live

• Estimated rent: $1,580 high
• Mortgage (P&I): −$818
• Tax from tax record: −$358 /mo · $4,300/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $7

Break-even live

Break-even rent $1,571

Max offer price $155,900

Occupancy floor 95%

Sensitivity live

Price	-10% $96	-5% $51	+0% $7	+5% $-37	+10% $-81
Rent	-10% $-118	-5% $-55	+0% $7	+5% $70	+10% $132
Rate	-1.0pp $86	-0.5pp $47	base $7	+0.5pp $-33	+1.0pp $-74

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: $38,975
• Closing costs: $4,677
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
101 Hutson Dr Summerville, SC	1.0–2.0	1.0	750	$1,270	$1.69	25d	1	0.27mi
108 Weathers Ct Summerville, SC	1.0–2.0	1.0	650	$1,164	$1.79	4d	5	0.29mi
401 Golf Rd #204 Summerville, SC	2.0	1.5	993	$1,400	$1.41	25d	1	0.62mi
1160 Boone Hill Rd Unit B Summerville, SC	2.0	1.0	700	$1,200	$1.71	25d	1	0.65mi
111 W Johnston St Unit A Summerville, SC	2.0	1.0	1100	$2,000	$1.82	25d	1	0.79mi
400 Pinewood Dr Summerville, SC	1.0–2.0	1.0–1.5	767	$1,495	$1.95	25d	1	0.86mi
409 Verbena Ave Summerville, SC	3.0	2.5	1301	$1,950	$1.50	25d	1	1.23mi
303 Canaberry Cir Summerville, SC	3.0	2.0	1438	$2,395	$1.67	25d	1	1.26mi
903 Peacock Pl Unit 1 Summerville, SC	3.0	2.0	1156	$1,850	$1.60	25d	1	1.35mi
903 Peacock Pl Unit 1 Summerville, SC	3.0	2.0	1156	$1,850	$1.60	13d	1	1.35mi
108 Canvasback Dr Unit B Summerville, SC	2.0	2.0	1000	$1,350	$1.35	25d	1	1.38mi
108 Canvasback Dr Unit B Summerville, SC	2.0	2.0	1000	$1,350	$1.35	21d	1	1.38mi
101 Drake Ct Unit A Summerville, SC	2.0	1.5	1000	$1,295	$1.29	16d	1	1.39mi
725 Central Ave Summerville, SC	2.0–3.0	1.5–2.0	950	$1,410	$1.48	4d	3	1.46mi
105 Barberry St Summerville, SC	3.0	2.5	1285	$2,050	$1.60	4d	1	1.49mi

Listing history 12 events

1. 2026-06-22
   days on market $155,900 Active 15 DOM
2. 2026-06-18
   days on market $155,900 Active 12 DOM
3. 2026-06-17
   days on market $155,900 Active 11 DOM
4. 2026-06-16
   days on market $155,900 Active 10 DOM
5. 2026-06-15
   days on market $155,900 Active 9 DOM
6. 2026-06-13
   days on market $155,900 Active 7 DOM
7. 2026-06-13
   days on market $155,900 Active 6 DOM
8. 2026-06-10
   days on market $155,900 Active 4 DOM
9. 2026-06-09
   days on market $155,900 Active 3 DOM
10. 2026-06-08
    days on market $155,900 Active 2 DOM
11. 2026-06-07
    remarks 699-char remark
12. 2026-06-07
    listed $155,900 Active 1 DOM

ⓘ 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: $4,300 · $358/mo
• Projected year-2 tax: $4,300 · $358/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 8/10 Severe 7 d/yr ≥108°F today · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 97% 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: $18,958
• − Mortgage interest: −$8,733
• − Property taxes: −$4,300
• − Insurance: −$780
• − Repairs & maintenance: −$1,517
• − Management: −$1,517
• − Depreciation: −$4,535
• Taxable loss: −$2,422
• Est. tax savings @ 24.0%: +$581
• After-tax cash flow: $668/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

• Census place: Summerville, SC
• 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

+86.9% since first listed

22 events — show timeline

• 2026-06-03 Listed $155,900 Charleston Trident MLS
• 2025-01-03 Rental Removed $1,750 TURBOTENANT
• 2024-12-03 Listed for Rent $1,750 TURBOTENANT
• 2024-08-14 Rental Removed $1,720 CHARLESTONMLS
• 2024-08-07 Price Changed $1,720 CHARLESTONMLS
• 2024-07-16 Listed for Rent $1,820 CHARLESTONMLS
• 2022-08-31 Sold (MLS) $162,000 Charleston Trident MLS
• 2022-07-24 Pending — Charleston Trident MLS
• 2022-07-19 Listed $155,000 Charleston Trident MLS
• 2019-11-13 Sold (MLS) $100,000 Charleston Trident MLS
• 2019-11-01 Sold (Public Records) $100,000 Public Records
• 2019-09-28 Contingent — Charleston Trident MLS
• 2019-09-18 Listed $105,000 Charleston Trident MLS
• 2012-09-27 Sold (Public Records) $54,000 Public Records
• 2012-09-26 Sold (MLS) $54,000 Charleston Trident MLS
• 2012-05-10 Listed $54,000 Charleston Trident MLS
• 2005-08-17 Listing Removed — Charleston Trident MLS
• 2005-06-29 Listed $98,000 Charleston Trident MLS
• 2003-10-17 Sold (MLS) $84,675 Charleston Trident MLS
• 2003-09-09 Listing Removed — Charleston Trident MLS
• 2001-10-02 Listed $82,900 Charleston Trident MLS
• 2001-10-02 Listed $83,400 Charleston Trident MLS

Property tax history

+20.1%/yr

Latest (2025): $4,300 · +1.7% YoY. Source: county tax records.