2631 Henry St · North Charleston, SC 29405

$125,000

3 bd · 1.0 ba · 1,247 sqft · SingleFamily public records · 19 Days on market

Built 1950 4,791 sqft lot

---

Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Rent growth +4.1/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor opportunity with exceptional upside potential in the heart of North Charleston. Situated on a generously sized lot, 2631 Henry Street presents a rare opportunity for investors, builders, or visionaries looking to renovate, reimagine, or build new. The existing structure has already been substantially gutted, offering a head start for a full redevelopment or custom renovation project. Surrounded by ongoing growth and revitalization, this property is ideally positioned for those seeking their next investment opportunity in an increasingly desirable location. Whether you're looking to create a primary residence, rental property, flip project, or entirely new build, the possibilities h

Key facts

• Deep lot
• Generously sized lot
• Ample space

Tags

• GENEROUSLY SIZED LOT
• DEEP LOT
• AMPLE SPACE
• CONVENIENTLY LOCATED

Property features AI

Exterior

• Utilities: Public sewer
• Home design: Single-family detached home; Residential property
• Construction: Asphalt roof
• Exterior features: Chain link fencing; Lot size under 0.5 acre

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 1 bathroom
• Interior features: One-level living

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $859 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $123k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.5% vs local median 4.0% in North Charleston — 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 66/100 on livability (#122 in SC) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: employment C-, crime F, amenities F.
• Charleston 01 (urban): math 48% / reading 53% proficiency, ranked #7 of 80 in SC (top 9%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Meeting Street Elementary (math 19% / reading 16%, grade F, #512 of 597 statewide, top 86%, 1,133 students, 100% FRL); Northwoods Middle (math 11% / reading 16%, grade F, #207 of 229 statewide, top 91%, 738 students, 100% FRL); North Charleston High (math 27% / reading 57%, grade F, #174 of 196 statewide, top 90%, 768 students, 100% FRL) — zoned schools average 100% FRL vs 44% district-wide (56 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 24% at this address vs 50% district-wide (-26 pts) — the specific schools serving this property underperform the Charleston 01 average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+6.4%/yr); 203 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 4,156 units permitted in Charleston County in 2024 (857 in 5+ unit buildings).
• This rent runs 43% of the median local income ($57k/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 $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Charleston County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 6.4% rent growth), your $35k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $123,125 (1.5% below list)

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
4. 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.
5. 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.
6. 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: 1.61% ✓
• Cap rate: 14.53%
• Cash-on-cash: 29.44%
• DSCR: 2.31
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $342,925
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2698 Olympia Ave	0.20mi	3/2.0	1,166 (-6%)	1mo	$350,000	$300	75
2713 Henry St	0.18mi	3/2.5	1,327 (+6%)	4mo	$375,000	$283	72
2612 Stark Ln	0.29mi	4/2.0 (+1)	1,296 (+4%)	2mo	$300,000	$231	69
2646 Madden Dr	0.26mi	3/2.0	1,352 (+8%)	2mo	$339,900	$251	68
2706 Budds Ave	0.57mi	3/2.5	1,251 (+0%)	3mo	$192,000	$153	65
3995 Gary Dr	0.23mi	3/2.0	1,120 (-10%)	5mo	$355,000	$317	64
2634 Harvey Ave	0.53mi	3/2.0	1,190 (-5%)	4mo	$325,000	$273	60
2745 W Surrey Dr	0.15mi	4/2.0 (+1)	1,092 (-12%)	4mo	$300,000	$275	60
3993 Gary Dr	0.22mi	3/2.0	1,430 (+15%)	3mo	$425,000	$297	59
2669 Tillman St	0.33mi	3/1.5	1,080 (-13%)	6mo	$76,500	$71	55
2601 Oregon Ave	0.60mi	3/2.0	1,400 (+12%)	2mo	$342,500	$245	46
3792 Walnut St	0.71mi	3/2.0	1,063 (-15%)	3mo	$382,000	$359	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 · 6.36% rent growth · sell at horizon

5-year hold

• IRR: 27.4%
• Equity multiple: 2.18×
• Total profit: $41,408
• Equity at exit: $18,638

10-year hold

• IRR: 36.7%
• Equity multiple: 4.92×
• Total profit: $137,189
• Equity at exit: $10,808

Cash invested: $35,000 (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 29405

• Home prices YoY: -29.0%
• Rents YoY: 6.4%
• Active inventory: 203
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $2,013 high
• Mortgage (P&I): −$656
• Tax from tax record: −$24 /mo · $287/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$423
• Net cashflow: $859

Break-even live

Break-even rent $926

Max offer price $125,000

Occupancy floor 52%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3925 Hilda St North Charleston, SC	3.0	1.0	900	$1,700	$1.89	21d	1	0.21mi
2679 Oregon Ave North Charleston, SC	3.0	2.0	1200	$1,900	$1.58	23d	1	0.30mi
2679 Olympia Ave Unit A North Charleston, SC	3.0	1.0	1100	$1,995	$1.81	23d	1	0.32mi
4021 Gary Dr North Charleston, SC	2.0	1.0	1400	$1,800	$1.29	23d	1	0.34mi
4025 Gary Dr Unit A North Charleston, SC	3.0	1.0	925	$1,600	$1.73	23d	1	0.36mi
2674 Madden Dr North Charleston, SC	3.0	2.0	858	$2,200	$2.56	23d	1	0.36mi
2620 Woodlawn Ave North Charleston, SC	3.0	1.0	892	$1,695	$1.90	23d	1	0.40mi
2620 Woodlawn Ave North Charleston, SC	3.0	1.0	892	$1,695	$1.90	10d	1	0.40mi
2667 Olympia Ave North Charleston, SC	2.0	2.0	899	$1,500	$1.67	23d	1	0.40mi
2645 Oregon Ave North Charleston, SC	3.0	2.0	916	$2,300	$2.51	23d	1	0.46mi
2755 Louise Dr North Charleston, SC	3.0	1.0	1025	$1,800	$1.76	23d	1	0.51mi
2741 Ranger Dr North Charleston, SC	3.0	2.0	1300	$2,300	$1.77	23d	1	0.54mi
2708 Busch Ave North Charleston, SC	3.0	1.5	1025	$2,100	$2.05	23d	1	0.57mi
2653 Harvey Ave North Charleston, SC	3.0	1.5	1200	$2,035	$1.70	23d	1	0.59mi
2624 S Allen Dr North Charleston, SC	3.0	2.0	1000	$1,600	$1.60	23d	1	0.59mi
2636 S Allen Dr North Charleston, SC	3.0	2.0	1100	$2,200	$2.00	14d	1	0.61mi
2808 Martha Dr North Charleston, SC	3.0	2.0	1025	$2,250	$2.20	23d	1	0.68mi
4025 Bamberg Ave Unit 4025-5 North Charleston, SC	2.0	1.0	800	$1,400	$1.75	23d	1	0.98mi
2640 Orchid Ave North Charleston, SC	3.0	1.5	1200	$1,899	$1.58	23d	1	1.00mi
2116 Commander Rd North Charleston, SC	3.0	2.0	1050	$2,250	$2.14	3d	1	1.00mi
2512 Bennett Yard Rd Unit B North Charleston, SC	3.0	1.5	834	$1,800	$2.16	23d	1	1.07mi
1920 McMillan Ave North Charleston, SC	1.0–3.0	1.0	777	$1,550	$1.99	23d	1	1.07mi
3891 Four Poles Park Dr North Charleston, SC	3.0	2.5	1392	$2,299	$1.65	3d	1	1.09mi
3119 Azalea Dr North Charleston, SC	2.0	1.0	900	$1,550	$1.72	23d	1	1.19mi
3119 Azalea Dr Unit N North Charleston, SC	2.0	1.0	900	$1,550	$1.72	12d	1	1.20mi
2245 Garfield St North Charleston, SC	3.0	1.0	1035	$1,700	$1.64	23d	1	1.24mi
2245 Fillmore St North Charleston, SC	3.0	2.5	1400	$2,900	$2.07	23d	1	1.28mi
1915 Cherokee St North Charleston, SC	3.0	2.0	800	$1,999	$2.50	21d	1	1.35mi
2000 Reynolds Ave North Charleston, SC	2.0	2.0	1050	$2,000	$1.90	23d	1	1.40mi
3229 W Montague Ave North Charleston, SC	1.0–2.0	1.0–2.0	946	$2,601	$2.75	3d	32	1.47mi
2150 Becker St North Charleston, SC	3.0	1.5	1104	$2,000	$1.81	23d	1	1.47mi

Listing history 9 events

1. 2026-06-09
   days on market $125,000 Active 19 DOM
2. 2026-06-08
   days on market $125,000 Active 18 DOM
3. 2026-06-07
   days on market $125,000 Active 17 DOM
4. 2026-06-05
   days on market $125,000 Active 14 DOM
5. 2026-06-03
   days on market $125,000 Active 13 DOM
6. 2026-06-03
   pricedays on market $125,000 Active 12 DOM
7. 2026-06-01
   days on market $130,000 Active 11 DOM
8. 2026-05-31
   days on market $130,000 Active 10 DOM
9. 2026-05-21
   listed $140,000 Active

ⓘ 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: $287 · $24/mo
• Projected year-2 tax: $712 · $59/mo
• Expected delta: +$426/yr (+$35/mo · 148.4%)

ⓘ 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 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 18 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% 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: $24,153
• − Mortgage interest: −$7,002
• − Property taxes: −$287
• − Insurance: −$625
• − Repairs & maintenance: −$1,932
• − Management: −$1,932
• − Depreciation: −$3,636
• Taxable income: $8,738
• Est. tax owed @ 24.0%: −$2,097
• After-tax cash flow: $8,205/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: Charleston 01
• NCES district ID: 4501440
• Math proficiency: 48% ▼ -2.00%
• Reading proficiency: 53% ▬ 0.00%
• Median HH income: $52,376
• Composite: 43.41/100
• National rank: #3018
• State rank: #7 of 80 in SC

Livability — North Charleston

• Score: 66/100
• State rank: #122
• US rank: #12222

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Charleston, SC
• County: Charleston County · 366,793 people
• City population: 108,266
• Metro: Charleston-North Charleston, SC
• Population (ZIP): 26,254
• Household income: $56,600
• Rent vs Own: 49.4% rent · 50.6% own
• Severe rent burden: 1564.0

Population outlook (Charleston County) Hauer SSP2

• Today (2025): 480,562 people
• By 2030: 525,921 · +9.4%
• By 2040: 612,189 · +27.4%
• By 2050: 691,627 · +43.9%
• By 2075: 847,979 · +76.5%
• By 2100: 926,482 · +92.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (57%)
• Race & ethnicity: Black 57% White 34% Hispanic / Latino 5% Two or more races 4%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Slovak 1% Lithuanian 1% Italian 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 5%

Political lean MEDSL · Charleston

• 2024 margin: Lean D (+5.7) · D 51.9% · R 46.3% · Other 1.8%
• 2008→2024 swing: -2.7pp toward R · 2008: 8.3pp · 2024: 5.7pp
• All cycles: 2024: D+5.7 2020: D+12.9 2016: D+7.9 2012: D+2.4 2008: D+8.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -152.19%
• Current HPI: 372.8886
• Rent YoY: ▲ 6.36%
• 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

1 event — show timeline

• 2026-05-21 Listed $140,000 Charleston Trident MLS

Property tax history

-8.9%/yr

Latest (2022): $287 · -1.8% YoY. Source: county tax records.